Debt News

Creditors back Argentina restructuring of $66 bn debt

By AFP

Buenos Aires - Recession-hit Argentina has managed to restructure 99 percent of $66 billion in debt issued under foreign legislation, Economy Minister Martin Guzman announced on Monday.

Student loans & COVID: Most borrowers unsure about payments

By Tim Sandle

A survey from LendEDU of 1,000 adult Americans who are currently repaying federal student loan debt so that we could better understand how this group has been impacted by the pandemic.

Areas in the U.S. with the highest loan take-up rates revealed

By Tim Sandle

The COVID-19 pandemic has had a major impact on the U.S. economy, and one of the measures of this is with the take-up of loans. New data from WalletHub shows considerable variation throughout the U.S., as measured by individual states.

Argentina formalizes new debt offer to creditors

By AFP

Buenos Aires - Argentina on Tuesday formalized a new offer to creditors by presenting its proposal to the US Securities and Exchange Commission as President Alberto Fernandez's government looks to restructure a $66 billion debt.

Argentina to renew offer to creditors, extends negotiation: president

By AFP

Buenos Aires - Argentina will make creditors an improved offer and extend negotiations on restructuring $66 billion in debt through the end of August, President Alberto Fernandez said Sunday."The new offer will be made known today.

Argentina extends debt negotiations to June 19

By AFP

Buenos Aires - Argentina on Friday extended a deadline for debt restructuring talks to June 19 as the economy ministry announced it was preparing to present a new offer to creditors.

Argentina in default but creditor negotiations continue

By AFP

Buenos Aires - Argentina defaulted on Friday for the second time in less than 20 years after failing to pay $500 million of interest on its bond debt, but it continues to negotiate a restructure with creditors, Finance Minister Martin Guzman said.

Default looms for Argentina despite debt deadline extension

By AFP

Buenos Aires - Argentina was teetering on the brink of a second default this century on Friday as the deadline for a $500 million bond interest repayment approached.

Cuba seeks delay in debt repayment to 2022: diplomats

By AFP

Havana - Cuba has asked the Paris Club of major creditors for a delay in repaying its debt until 2022, citing the impact of the coronavirus pandemic on its economy, diplomatic sources told AFP on Wednesday.

Mozambique court annuls loans of $1.4 bn

By AFP

Maputo - Mozambique's constitutional court on Tuesday declared null and void loans worth $1.4 billion that triggered the country's worst financial crisis when they were revealed, in a ruling welcomed by debt campaigners.

A decade after debt crisis, Greece on verge of virus recession

By AFP

Athens - Ten years after sinking into its worst economic crisis in living memory, Greece once again faces the spectre of a grave recession in the midst of a global coronavirus lockdown.

ECB says could accept 'junk' bonds as collateral for loans

By AFP

Frankfurt Am Main - European Central Bank governors agreed Wednesday that banks could put up so-called "junk" bonds as collateral when borrowing from the Frankfurt institution, in case eurozone governments and firms see their credit ratings downgraded as they grapple with...

G20 agrees to debt relief for poorest countries amid pandemic

By AFP

Apo - With the global economy plunged into the worst recession in a century, the Group of 20 nations on Wednesday announced a one-year debt standstill for the world's poorest nations as they struggle to deal with the coronavirus pandemic.

G20 agrees to temporary debt standstill for poorest countries

By AFP

Washington - The Group of 20 nations announced support Wednesday for a temporary halt to debt payments by the world's poorest nations as they struggle to deal with the coronavirus pandemic.

IMF approves debt relief for 25 poor countries

By AFP

Washington - The International Monetary Fund on Monday announced immediate debt relief for 25 poor countries to help them free up funds to fight the coronavirus pandemic.

IMF, World Bank call for suspending debt payments by poorest nations

By AFP

Washington - The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world's poorest nations so they can battle the coronavirus pandemic.

Argentina will need 'substantial debt relief': IMF chief

By AFP

Washington - Argentina's government will need "substantial debt relief" from private creditors as the coronavirus pandemic and its economic impact exacerbates the country's financial situation, IMF chief Kristalina Georgieva said Friday.

Lebanon says to default on eurobonds as financial crisis intensifies

By AFP

Beirut - Lebanon said Saturday it would default on its Eurobond debt for the first time and seek out restructuring agreements due to a spiralling financial crisis that has hit foreign currency reserves.

Argentina faces race against time to renegotiate debt

By AFP

Buenos Aires - Backed by the IMF, Argentina is looking to renegotiate its debt but it faces a race against time to secure short term relief.

IMF begins debt talks in Argentina

By AFP

Buenos Aires - Recession-hit Argentina opened talks Wednesday with a team from the IMF, seeking relief from what President Alberto Fernandez says is an unsustainable foreign debt.

IMF due in Argentina for debt restructuring talks

By AFP

Buenos Aires - Recession-hit Argentina opens talks this week with a team from the IMF, seeking relief from what President Alberto Fernandez says is an unsustainable foreign debt.

LendEDU Report: Data reveals average student loan payment

By Tim Sandle

Using an exclusive dataset that included nearly 150,000 student loan payments, digital finance company LendEDU has determined the average monthly student loan payment by U.S. state.

Lebanon regains UN voting rights after paying arrears

By AFP

New York - Lebanon regained its voting rights at the United Nations after paying outstanding dues it owed the international body, a UN spokesman said Monday."Lebanon has just made a payment.

Argentina approves economic measures aimed at ending crisis

By AFP

Buenos Aires - Argentina's center-left government approved on Monday a package of emergency measures aimed at lifting the South American country out of its worst economic crisis in years.

Argentina is in 'virtual default' says president

By AFP

Buenos Aires - Argentina's President Alberto Fernandez said Sunday the South American country is in virtual default and compared the situation with the 2001 crisis -- the worst in its recent history.

IMF approves release of $498.4 mn for Ecuador

By AFP

Washington - The International Monetary Fund on Thursday approved a delayed loan tranche for Ecuador, releasing nearly $500 million under a three-year aid program.The IMF board gave the go-ahead for a $4.

Massive debt wave could crash on developing countries, World Bank warns

By AFP

Washington - A wave of debt in emerging and developing nations has grown faster and larger than in any period of the last five decades and could end with another crisis, the World Bank warned Thursday.

New leftist Argentine government announces tax hikes

By AFP

Buenos Aires - Argentina's new leftist government announced Tuesday a 30 percent tax on foreign currency purchases and a six-month freeze on public utility prices as part of a raft of measures to boost growth.

Argentina's president-elect rejects remaining IMF money

By AFP

Buenos Aires - Argentina's leftist president-elect Alberto Fernandez said Tuesday he would renounce the remaining $11 billion tranche of the country's International Monetary Fund loan as soon as he takes office next month.

Moody's downgrades Britain debt outlook to negative

By AFP

Washington - Credit ratings agency Moody's on Friday downgraded the outlook for Britain's debt, citing mounting policy challenges amid the Brexit debate.The agency cut the outlook to negative from stable but kept the debt at the investment grade Aa2.