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Debt News

Debt traps threaten Nepal quake victims

Bhaktapur - Victims of Nepal's 2015 earthquake are at risk of slipping into debt as they face a second winter in temporary shelters, according to a monitoring group which says the government has been too slow to disperse reconstruction grants.

Debt traps threaten Nepal quake victims

Bhaktapur - Victims of Nepal's 2015 earthquake are at risk of slipping into debt as they face a second winter in temporary shelters, according to a monitoring group which says the government has been too slow to disperse reconstruction grants.

Debt traps threaten Nepal quake victims

Bhaktapur - Victims of Nepal's 2015 earthquake are at risk of slipping into debt as they face a second winter in temporary shelters, according to a monitoring group which says the government has been too slow to disperse reconstruction grants.

EU seeks to calm budget row with Greece

Atenas - Austerity-wracked Greece could strike a deal with its creditors by early next year, a senior EU official said Sunday, seeking to calm a recent row over surprise handouts announced by Athens.

Cuba offers rum to pay debt to Czech Republic

Prague - Cash-strapped Cuba has offered to pay its old debt to the Czech Republic with goods it can spare, including its coveted rum, the Czech finance ministry said Friday."The Cuban party as a possible solution presented a list of commodities...

Greece's Tsipras eyes 'breakthrough without blackmail' in debt row

Brussels - Greek Prime Minister Alexis Tsipras called Thursday for a "breakthrough without blackmail" in a row over the eurozone's decision to suspend debt relief over a pension spending hike by Athens.

Greece doesn't need more austerity, cuts went too far: IMF

Washington - Greece does not need more austerity at this time, and in fact spending cuts have gone too far already, two senior International Monetary Fund officials said Monday.

Thousands demonstrate in Greece over new budget cuts

Atenas - Thousands of Greek trade unionists demonstrated on Thursday against planned new cuts demanded by international creditors in a general strike that shut down several key sectors.

Eurozone agrees debt relief for Greece amid IMF row

Brussels - Eurozone finance ministers on Monday approved new debt relief measures to alleviate Greece's colossal debt mountain in the wake of its huge 86-billion-euro bailout, but at levels far short of those demanded by the IMF.

EU, IMF 'going in circles' on Greek debt relief

Brussels - Eurozone finance ministers meet Monday as far apart as ever on the debt relief measures demanded by the International Monetary Fund for it to back their bailout programme for Greece.

Portugal backtracks on early IMF loan repayment

Lisbon - Portugal's Socialist government said Saturday it will not make early payments of 6.6 billion euros in IMF loans this year in order to maintain financial reserves.

Greek lawmakers pass fresh reforms sought by creditors

Atenas - The Greek parliament on Tuesday adopted fresh austerity measures sought by its international creditors, including expediting privatisation of utility companies.

Greece says adopting new credit measures for EU, IMF

Atenas - Cash-strapped Greece will adopt before month's end a new package of measures designed to mollify EU and IMF creditors, Athens' finance ministry said Friday.

Fitch cuts Turkey debt outlook after coup attempt

Washington - The ratings agency Fitch cut its outlook for Turkey's sovereign debt rating to "negative", saying last month's coup attempt underscored risks to political stability in the country.

Portugal 'does not deserve' EU penalties over deficit: French minister

Paris - French Finance Minister Michel Sapin said Monday that Portugal does not deserve European Union penalties for government budgetary overruns."Portugal has made enormous efforts in the past years.

Greek no to austerity a 'sublime act of resistance': PM

Atenas - Debt-laden Greece's rejection exactly a year ago of austerity measures proposed by international lenders was a "sublime act of resistance," Prime Minister Alexis Tsipras tweeted on Tuesday.

Puerto Rico rescue bill clears Congress, Obama to sign

Washington - The US Senate passed a bipartisan measure that would allow Puerto Rico to restructure its $70 billion debt just two days before the island was to careen into massive default.

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.
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Federal Reserve G20 Data Display in Ratio Line Chart
Federal Reserve G20 Data Display in Ratio Line Chart
New Jersey s baboon is finally captured.
New Jersey's baboon is finally captured.
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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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Debt
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Increasing price of textbooks on students.
Increasing price of textbooks on students.
Student embraced by Grim Reaper of Debt
Student embraced by Grim Reaper of Debt
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Akademos Logo  Akademos Philosophy  Flatworld Knowledge Textbooks  eReader  CoursePack
Akademos Logo, Akademos Philosophy, Flatworld Knowledge Textbooks, eReader, CoursePack
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Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency