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Debt News

IMF warns rising debt makes economy more vulnerable

Washington - Rising corporate and government debt levels and the sharp increase in more risky lending could leave the global economy vulnerable to another severe downturn, the International Monetary Fund warned Wednesday.

Venezuela's Guaido extends olive branch to China

Bejing - Venezuela's self-proclaimed president Juan Guaido has promised China he will honour bilateral agreements and said he was ready to start a dialogue with Beijing "as soon as possible".

Mozambique ex-minister in S.Africa court over loan scandal

Johanesburg - Mozambique's former finance minister Manuel Chang made a brief court appearance in Johannesburg on Tuesday after being arrested at the city's airport over alleged secret loans to Mozambican state companies totalling $2 billion.

Italian MPs approve revised budget after EU standoff

Rome - Italian lawmakers passed Saturday the populist government's revised 2019 budget before a year-end deadline, despite complaints from the opposition that it was dictated by Brussels and had been rammed through without debate.

Italy Senate passes revised budget after EU standoff

Rome - The Italian Senate on Sunday passed a revised 2019 budget agreed after a tense standoff with Brussels which saw the populist government water down key measures.

Cuba says unable to pay off debt commitments in 2019

Havana - Cuba's government admitted on Friday that it won't be able to pay all its debt commitments in 2019, blaming Hurricane Irma and United States sanctions for its woes.

Italy and EU reach budget truce as Rome backs down

Apo - The EU and Italy on Wednesday called a truce in their bitter row over Rome's disputed 2019 budget, as the populist government agreed to put off signature reforms.

Italy has verbal agreement with EU on 2019 budget: media

Rome - Italy's government has reached a verbal agreement with the EU on the country's disputed 2019 budget following discussions with senior officials in Brussels, according to sources close to the government cited by Italian media Wednesday.

Greek lawmakers adopt first post-crisis budget

Atenas - Greek lawmakers on Tuesday adopted the first budget free of foreign assistance in almost 10 years, predicting economic growth of 2.5 percent in 2019, better than the expected eurozone average.The budget includes 900 million euros ($1.

Moscovici says working to avoid sanctions on Italy

Paris - European Economic Affairs Commissioner Pierre Moscovici said Tuesday he was working to avoid Italy being sanctioned over its 2019 budget, reiterating that Rome and Paris were not being held to two different standards.

IMF's Lagarde says likely to approve Ukraine loan after Dec 10

Washington - The International Monetary Fund board will meet to approve a new loan deal for Ukraine "promptly" after December 10, once the country implements key policy steps including raising gas and heating rates, IMF chief Christine Lagarde said Wednesday.

Indebted Maldives sending envoy to China

Male - The Maldives foreign minister will visit Beijing before the end of 2018, officials said Wednesday, likely seeking to renegotiate the archipelago's Chinese debt.

Eurozone ministers face defiant Italy on budget

Apo - Exasperated eurozone finance ministers are expected to back Brussels in the row over Italy's budget on Monday, setting the stage for market turmoil not seen since the debt crisis.

IMF board approves increased loan package for Argentina

Washington - The International Monetary Fund executive board on Friday approved an increased loan package for Argentina worth $56 billion to help stabilize the crisis-battered country's economy and currency.The IMF said the approval released $5.

IMF board approves $56 bn loan package for Argentina

Washington - The International Monetary Fund executive board on Friday approved a $56 billion loan package for Argentina to help stabilize the crisis-battered country's economy.The IMF said the approval released $5.7 billion to the government immediately.

'Italy not a problem' for EU, says finance minister

Paris - Italian Finance Minister Giovanni Tria said Thursday that his country was "not a problem" for the European Union, which he claimed could benefit from Rome's new budget strategy."Let me be clear, Italy is not a problem.

Deadline looms for Italy to ease EU budget concerns

Milan - A deadline loomed Monday for Italy to respond to EU criticism over its populist budget, which has drawn a costly downgrade from one credit agency amid fears for the wider eurozone.

China's Belt and Road tempts states, but comes with risks

Nusa Dua - China's massive "Belt and Road Initiative" building push may create debt risks but is also responding to major infrastructure gaps in Asia and could boost global trade, World Bank officials say.

US says Maduro 'enablers' profiting from sale of Venezuelan resources

Washington - The "financial enablers" of Venezuelan President Nicolas Maduro are profiting from the sale of resources belonging to that country's people, US Treasury Secretary Steven Mnuchin said Friday.

Italian Salvini 'does not care' if EU rejects budget

Rome - Italy's powerful deputy prime minister Matteo Salvini said Saturday "I do not care" if the European Commission rejects a budget plan that would worsen Rome's already mammoth debt burden.

EU slams Italy budget as Rome seeks to avoid 'conflict'

Milan - The European Union on Friday issued a stern warning to Italy's populist leaders following their defiant pledge for increased spending and a sizeable budget deficit that risks putting Rome on a collision course with Brussels.

Italy government agrees on 2.4-percent deficit of GDP in 2019

Milan - Italy's populist government agreed Thursday on a deficit of 2.4-percent of gross domestic product in 2019, the leaders of the coalition parties announced.

Italy government agrees to spend big with deficit hike

Milan - Italy's populist government agreed Thursday on a deficit of 2.4 percent of gross domestic product for the next three years in a move which risks setting Rome on a collision course with the European Commission.

BIS warns global economy risks crisis 'relapse'

Zurich - The Bank of International Settlements said Sunday the global economy risked a "relapse" of the crisis that rocked it a decade ago, warning there was little "medicine" left to treat the patient a second time.

Saudi sovereign fund secures $11bn loan

Apo - Saudi Arabia's sovereign wealth fund said Monday it had secured its first ever international loan, boosting the kingdom's diversification drive after its flotation of state oil giant Aramco stalled.

Italy must present 'credible' budget: EU Commissioner

Paris - Italy must present a "credible budget" for the coming year, EU Commissioner Pierre Moscovici said Thursday, calling the anti-establishment government in Rome a "problem".

China's 'Silk Road' project runs into debt jam

Bejing - China's massive and expanding "Belt and Road" trade infrastructure project is running into speed bumps as some countries begin to grumble about being buried under Chinese debt.

Fragile Argentina placing faith in IMF meeting

Buenos Aires - Argentina's Economy Minister Nicolas Dujovne heads to Washington on Monday to thrash out a hastily revised loan deal with the International Monetary Fund to help revive South America's second-largest economy.

Argentina's interest rate hiked to 60% to counter currency woes

Buenos Aires - Argentina's Central Bank announced Thursday it has raised its benchmark interest rate from 45 to 60 percent in a bid to arrest a slide in the value of its currency.

Argentina, IMF agree accelerated loan payout

Buenos Aires - Argentina's President Mauricio Macri said Wednesday that the International Monetary Fund has agreed to accelerate funding in support of his government's austerity program, but the move did little to calm the market as the country's currency came under ...
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Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency
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
Student embraced by Grim Reaper of Debt
Student embraced by Grim Reaper of Debt
DonkeyHotey
It’s always good to pay off your credit card debt  and with interest rates rising  what better tim...
It’s always good to pay off your credit card debt, and with interest rates rising, what better time than now?
Paul Vlaar
Federal Reserve G20 Data Display in Ratio Line Chart
Federal Reserve G20 Data Display in Ratio Line Chart
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Via Flickr / xJason.Rogersx
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