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Debt News

Greece to adopt more cuts, tax hikes for bailout cash

Atenas - Greece on Sunday was set to adopt fresh cuts and tax hikes ahead of a Eurogroup meeting that is expected to unlock desperately-needed bailout funds for the debt-ridden nation.

Puerto Rico to default on $422 mn debt payment: Governor

San Juan - Puerto Rico's financial crisis deepened Sunday as Governor Alejandro Garcia Padilla announced the US commonwealth would default on $422 million in debt.

Millennials, Baby Boomers turning away from marriage

For a generation that is learning to embrace renting in place of ownership, cohabitation is on the rise, and may be in line to replace traditional matrimony.

Greek PM seeks EU help to break creditor deadlock

Atenas - Greek Prime Minister Alexis Tsipras on Wednesday sought help from the European Union to break a deadlock in critical debt talks as his spokeswoman accused the IMF of "undermining" the process.

Back from financial 'darkness', Argentina borrows $16.5 bn

Buenos Aires - Argentina borrowed $16.5 billion on Tuesday in its triumphant return to international credit markets 15 years after a disastrous default, the government said.

Argentine Senate to vote on settling big foreign debts

Buenos Aires - Argentina's Senate prepared to vote Wednesday on a deal to repay disgruntled creditors, as the government seeks to end a 15-year US court battle over a catastrophic debt default.

Argentina lawmakers back deal to repay holdout creditors

Buenos Aires - Argentina's chamber of deputies voted early Wednesday to approve a repayment deal with more holdout creditors, as the nation seeks to finally close the door on 15 years of litigation over its defaulted bonds.

Debt collectors strike fear in recession-hit Russia

Moscow - "If you don't die by yourself, we'll help you," threaten the phone messages that Natalya, a 69-year-old Russian pensioner, has been receiving for months after falling further behind on her credit card payments.

Argentina, 'vulture' funds end 15-year debt battle

New York - Argentina's new market-friendly government has ended a bitter 15-year battle with creditors led by a US billionaire, the mediator announced Monday, opening the door for the South American country to escape financial pariah status.

Argentina coming in from the cold, Macri tells AFP

Buenos Aires - Argentine President Mauricio Macri told AFP Monday he is determined to settle with all his country's foreign creditors and insisted Argentina is returning to the international fold.

Ukraine vows to fight Russian $3 bn debt claim in London court

Kiev - Kiev vowed on Thursday to fight Russia's demand for the full repayment of a $3-billion (2.7-billion-euro) loan it issued to Ukraine in 2013 under ousted Moscow-backed president Viktor Yanukovych.

US and UK cracking down on student debt

After Paul Aker's interview on his arrest for outstanding student loan debt went viral, the issue of governments taking excessive action on student debt repayments has become a broader issue. Britain is joining the U.S. on taking extreme measures.

Greek emergency services workers march for better pension deal

Atenas - More than 2,000 police, coastguards and firefighters took to the streets of cash-strapped Athens on Friday in protest at pension reforms as the country reeled from a paralysing general strike, according to AFP.

Greece's Tsipras set to promise that Greek upturn is near

Atenas - He came to power vowing a debt revolution, but after a rollercoaster year of economic meltdown forcing him to abandon his election promises, a less bouncy but still charismatic Greek Prime Minister Alexis Tsipras is facing the music.

U.S. to pay Iran $1.7 bn in debt and interest: Kerry

Washington - The United States is to repay Iran a $400 million debt and $1.3 billion in interest dating to the Islamic revolution, Secretary of State John Kerry said Sunday.

EU warns Greece not to 'play games' with IMF

Berlin - The EU's economic affairs commissioner called on Athens "not to play games" with the International Monetary Fund as the body decides whether to participate in Greece's latest bailout.

Seychelles swaps part of its debt with pledge to protect oceans

Seychelles, an archipelago of 115 islands in the Western Indian Ocean with a population of 90,000, is swapping nearly $30 million of its debt in exchange for the protection of 30 percent of its ocean territory with an area larger than the size of Germany.

Greece defiant on pension cuts ahead of key talks with creditors

Atenas - Greece's prime minister on Sunday said his government will not give in to "unreasonable" demands as the debt-ridden country braces for critical negotiations with international creditors on the thorny issue of pension reform.

IMF changes rule on debt as Ukraine faces Russia deadline

Washington - The International Monetary Fund on Tuesday changed a rule that would have blocked its financial aid program to Ukraine in the event the country defaulted on debt owed to Russia.

Argentina's new government set for fresh debt talks

Buenos Aires - Argentina will send a team of negotiators to the United States in the coming few days, hoping for a fresh start to ongoing debt-crisis talks under its newly elected president, media reports said Sunday.

France warns won't meet EU deficit targets as steps up security spending

Paris - France warned Tuesday it won't meet its EU deficit obligations as it steps up spending on security in the wake of the Paris terror attacks.

Greece's leftist govt hit by first general strike

Atenas - Over 20,000 people demonstrated in Athens against fresh spending cuts Thursday, with sporadic outbreaks of violence, in the first general strike against the leftist government which swept to power on an anti-austerity ticket.

Creditors begin Greek reforms review ahead of strike

Atenas - Greece's international creditors on Wednesday begin a review of reforms pledged under the country's bailout, a day ahead of a general strike to protest the measures.

Argentine candidate Macri pledges to end bond fight

Buenos Aires - Argentine presidential challenger Mauricio Macri said Tuesday that he will end the country's long debt battle with US hedge funds if he wins the runoff vote on November 22.

Moscovici confident of 'compromise' with Greece on remaining reforms

Atenas - The EU's economic affairs commissioner, Pierre Moscovici, voiced confidence Tuesday that Greece would reach a "compromise" with its creditors by the end of the week on remaining reforms demanded under its third bailout.

U.S. Senate passes budget deal to avert default

Washington - The US Senate passed a bipartisan, two-year budget deal early Friday that boosts federal spending by $80 billion, reduces a government shutdown threat and raises the debt ceiling through the end of Barack Obama's presidency.

S&P upgrades Ukraine from 'selective default'

Kiev - Standard and Poor's upgraded Ukraine's credit rating on Monday from "selective default" thanks to the cash-strapped former Soviet country's ability to strike a major debt write-restructuring deal.

Greek lawmakers to approve first new bailout reforms

Atenas - Greece's parliament was expected to approve later Friday a first batch of reforms and tax cuts stemming from its third EU bailout.

Ukraine threatens 'legal war' with Russia over debt deal

Kiev - Ukraine threatened Thursday to launch a "legal war" with Russia after Moscow held out on a vital debt restructuring agreement needed to stop the crisis-torn nation hurtling towards a default.

Spain fends off finance critics ahead of elections

Madrid - Spain's government was forced to defend itself Tuesday against claims it polished its outlook for its recovering public finances ahead of a general election.
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Federal Reserve G20 Data Display in Ratio Line Chart
Federal Reserve G20 Data Display in Ratio Line Chart
Student embraced by Grim Reaper of Debt
Student embraced by Grim Reaper of Debt
Via Flickr / xJason.Rogersx
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New Jersey s baboon is finally captured.
New Jersey's baboon is finally captured.
Akademos Logo  Akademos Philosophy  Flatworld Knowledge Textbooks  eReader  CoursePack
Akademos Logo, Akademos Philosophy, Flatworld Knowledge Textbooks, eReader, CoursePack
Akademos, Inc.
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
Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency
Increasing price of textbooks on students.
Increasing price of textbooks on students.

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