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Debt News

Puerto Rico, crushed by debt, seeks moratorium

San Juan - Crushed by liabilities it now cannot repay, Puerto Rico is seeking to reschedule its $73 billion debt, the US commonwealth's governor said.

Ukraine, creditors exchange blows ahead of debt talks

Kiev - A vicious fight broke out in the open Friday between Ukraine's cash-strapped government and its foreign creditors over billions of dollars in debt that are up for negotiation next week.

France warns 'everything' must be done to clinch Greek deal by June 22

Bratislava - French President Francois Hollande insisted on Friday that "everything" must be done to seal a compromise on the Greek debt crisis before a Monday emergency eurozone meeting.

Ukraine creditors reject 'haircut' despite default threat

Kiev - Ukraine's biggest private creditors mounted a firm defence Wednesday of their refusal to accept a debt write-off that could keep the impoverished but strategic ex-Soviet nation from slipping into default.

G7 ministers meet on global growth amid shadow of Greek crisis

Dresden - Finance ministers and central bank governors of the Group of Seven wealthiest nations gathered in Dresden Thursday to seek ways of boosting global growth, while the Greek crisis also cast its shadow over the talks.

Russia vows 'tough' action if Ukraine defaults on debt

Moscow - Russian Prime Minister Dmitry Medvedev said Saturday that his government will adopt a "tough stance" if Ukraine defaults on its debt, which includes a $3 billion loan from Moscow.

French, German leaders hold talks with Greek PM in Riga

Riga - Greek Prime Minister Alexis Tsipras held "friendly and constructive" debt talks with the leaders of France and Germany but gave no sign of a breakthrough ahead of a crucial June deadline.

Ukraine takes first step toward debt payment freeze

Kiev - Ukraine's cash-starved government took the first step Tuesday toward freezing the payment of billions of dollars in sovereign and state-backed debt owed to some of the world's most powerful creditors.

Ukraine criticises creditors over debt talks

Kiev - Cash-strapped Ukraine said Tuesday its debt restructuring talks were moving slowly and criticised its creditors for a lack of willingness to engage in negotiations.

Athens metro screens films demanding German WWII reparations

Atenas - Screens across Athens' metro, usually reserved for weather forecasts, have shown more controversial subject matter this month with the broadcast of a government-backed film demanding German reparations for World War II.

Embattled Ukraine fights for debt deal on financial front

Kiev - As government troops face off against pro-Russian separatists, Ukraine is also manoeuvring on the financial front, scrambling to stave off disaster by renegotiating its foreign debts.

Greece told to move 'urgently' on detailed debt plan

Washington - Greece was told to urgently deliver a detailed fiscal and debt plan to official lenders as the IMF-World Bank spring meetings wound up amid escalating worries of a looming default.

Ukraine's Russia debt threatens IMF rescue

Washington - A default by Ukraine on $3 billion in debt to Russia this year could threaten the International Monetary Fund's lifeline to the embattled country, an IMF spokesman said.

Peer to peer lenders 'crowd-fund' your debt

A new wave of websites springing up online look to help savers looking for a good return by matching them with the best individual companies or borrowers in "peer-to-peer" lending, creating a mutually beneficial scenario with interest of up to 6%.

Greek PM hastens Russia visit amid cash crunch

Atenas - Greek Prime Minister Alexis Tsipras unveiled Tuesday a surprise trip to Russia but also sought talks with European leaders to break a deadlock over reforms that has revived default fears.

Cash-strapped Ukraine launches crucial debt talks

Kiev - Ukraine on Thursday said it would begin negotiations with creditors on restructuring the conflict-torn country's debt, a move called for in its high-stakes multibillion-dollar bailout from the International Monetary Fund.

Argentina, hedge funds far apart as bond hearings restart

Washington - Two months into a new year expected to bring progress, Argentina and the hedge funds it brands vultures are still far apart in a battle over bonds that has put the country back into default.

Greece's new anti-corruption minister battles tax evasion scourge

Atenas - Greece's new anti-corruption tsar Panagiotis Nikoloudis has been tasked with recovering 2.5 billion euros ($2.8 billion) for the debt-strapped government's coffers through a ruthless crackdown on tax evasion.

Merkel: Waiting for 'sustainable proposal' from Greece

Washington - German Chancellor Angela Merkel said Monday that Athens needs to present a "sustainable" plan as eurozone finance ministers prepare to meet later this week on the Greek debt crisis.

ECB approves 60 bn euros in emergency funds for Greek banks

Frankfurt - The European Central Bank has given the green light to make up to 60 billion euros ($68.5 billion) in emergency liquidity available to Greek banks, a source close to a national central bank told AFP on Thursday.

Italy's Renzi says EU-Greece deal possible after Tsipras talks

Rome - Italian Prime Minister Matteo Renzi said Tuesday he believes Greece will be able to strike a deal with its EU partners over its massive debts.

Greece will seek 'fair, mutually beneficial' EU deal: Tsipras

Athens - Greece will seek a "fair, mutually beneficial" deal with its EU creditors on renegotiating its multi-billion bailout and huge debt, newly-elected Prime Minister Alexis Tsipras said Wednesday.

Greece cannot rebound without debt cut: Syriza economist

Athens - Struggling Greece will never recover without a generous debt cut, despite what the country's creditors might think, the politician likely to become the next finance minister said Tuesday.

Spain anti-austerity activists look with hope to Greece's Syriza

Madrid - An election win for Greece's leftist Syriza party on Sunday could mark a turning point in Europe where other populist parties, starting with Podemos in Spain, are hoping to launch their own anti-austerity revolts.

Germany warns Greece over reforms as radical left rises

Berlin - Germany's finance minister warned Greece that any new government must respect commitments made by its predecessor, as the country moved closer to early elections that EU officials fear would be won by a radical leftist party.

Argentina's Kirchner in first public speech after illness

Buenos Aires - Argentina's President Cristina Kirchner appeared in public following a nearly month-long absence due to illness, reigniting the offensive against hedge funds and vowing she wants a resolution to the debt crisis.

New higher education standard targets for-profit institutions

Washington, D. C. - The United States Government announced Thursday efforts to hold for-profit colleges more accountable for whether graduates of those institutions find jobs.

Canadians lowering personal debt, paying off loans early

In a blow to conventional wisdom, Canadians are paying off loans early and keeping their personal debt under control according to reports.

Argentina deposits debt payment, defying US judge

Buenos Aires - Argentina deposited a $161 million payment on its restructured debt Tuesday, defying a US judge who ruled it in contempt of court and ordered it to pay two "holdout" creditors first.

US judge calls Argentina in contempt in debt case

New York - A US judge ruled Argentina in contempt of court Monday for its attempts to skirt his block on payments to holders of the country's restructured debt.
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A young person holding her credit card bill
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Increasing price of textbooks on students.
Increasing price of textbooks on students.
President Barack Obama signs the Budget Control Act of 2011 in the Oval Office  Aug. 2  2011
President Barack Obama signs the Budget Control Act of 2011 in the Oval Office, Aug. 2, 2011
White House photo by Pete Souza
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Federal Reserve G20 Data Display in Ratio Line Chart
Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency
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New Jersey's baboon is finally captured.
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