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Debt News

Greece hails 'historic' deal to end debt crisis

Atenas - Greek Prime Minister Alexis Tsipras on Friday hailed an agreement by Eurozone ministers that will put an end to the country's eight-year bailout program as an "historic" step.

Greece 'turning a page' as eurozone agrees debt relief

Atenas - The Greek government on Friday said the country was "turning a page" after eurozone ministers declared its crisis over as they granted Athens debt relief under a bailout exit strategy.

Greece crisis declared 'over' as eurozone agrees debt relief

Luxembourg - Eurozone ministers declared the end of the Greek debt crisis early Friday agreeing debt relief and a big cash payout for Greece, part of a broad bailout exit deal that will close eight years of financial rescues for cash-strapped Athens.

Greece creditors agree debt relief in bailout exit deal

Luxembourg - Eurozone ministers agreed debt relief and a big cash payout for Greece early Friday, part of a broad exit deal that will close eight years of austerity and bailouts for Athens.

Germany pockets 2.9 bn euros from Greece bailouts

Frankfurt Am Main - Germany has earned some 2.9 billion euros ($3.5 billion) since 2010 on Greek debt bought to help the struggling country, a government report seen by AFP showed Thursday.

Eurozone ministers seek end to Greece bailout odyssey

Luxembourg - Eurozone ministers will on Thursday try to resolve their differences over the terms of Greece's departure from its massive bailout programme with splits over the degree of debt relief needed by cash-strapped Athens.

Greeks wary of 'worse' days after bailout

Atenas - The end to Greece's third and final multi-billion bailout, to be set in motion Thursday, is unlikely to provide a respite from pay cuts and tax hikes, many Greeks fear."It's all false, new measures will come...

Argentina and IMF agree on $50 billion loan

Buenos Aires - The International Monetary Fund (IMF) agreed with Argentina to a standby loan of $50 billion over a three-year period, Finance Minister Nicolas Dujovne said Thursday.

IMF-Argentina loan talks 'well advanced,' spokesman says

Washington - Talks between the International Monetary Fund and Argentina on a new loan program are in advanced stages, with the Fund's board likely to consider the matter soon, a spokesman said Thursday.

Italy financial markets plunge on political turmoil

Milan - The Milan stock exchange plunged more than three percent Tuesday, while Italy's debt-risk premium surged, reflecting investor worry over the prospect of a fresh eurozone crisis.

Argentina braces for investor flight amid bid to save peso

Buenos Aires - Argentina appeared Tuesday to have halted the slide in the peso after the Central Bank introduced desperate measures to prop up the currency and staunch the flight of capital.The peso had clawed back 0.

IMF's Lagarde says ready to assist Argentina

Washington - International Monetary Fund chief Christine Lagarde said Thursday she is ready to aid Argentina and wants talks on a financing package to be finalized quickly.

Chinese insurer Anbang's ex-boss jailed 18 years for fraud

Shanghai - A Chinese court jailed the former high-flying head of troubled Anbang Insurance Group for 18 years on Thursday for defrauding the company of more than $10 billion.

Chinese insurer Anbang's ex-boss jailed 18 years for fraud

Shanghai - A Chinese court sentenced the former head of troubled Anbang Insurance Group to 18 years in prison on Thursday for fraud and corruption, Xinhua news agency said, following accusations of stealing more than $10 billion.

Argentina minister to meet IMF's Lagarde to request loan

Washington - Argentina Economy Minister Nicolas Dujovne is due to meet Thursday with IMF chief Christine Lagarde to request a financing package to help shore up the struggling economy, officials said Wednesday.

African growth picks up but debt a concern, says IMF

Libreville - Growth across sub-Saharan African will rise to 3.4 percent this year from 2.8 percent in 2017, but in the continent's poorest countries, debt is a major burden, the IMF said on Tuesday.

IMF censures Venezuela over economic data gaps

Washington - The International Monetary Fund on Wednesday censured Venezuela for failing to provide key economic data in a process that eventually could result in the Latin American nation's expulsion from the fund.

Turkey slams timing of S&P pre-poll downgrade

Istanbul - Turkey on Wednesday lashed out at a debt downgrade by ratings agency S&P as dubiously timed less than two months ahead of elections and based on lacklustre analysis.

S&P cuts Turkey's debt rating on deteriorating finances, inflation

Washington - Ratings agency S&P said Tuesday it cut the rating on Turkey's foreign debt due to deteriorating finances and rising inflation.

No escape for Mozambique as debt troubles mount

Maputo - Mozambique's renewed efforts to solve its spiralling "secret debt" crisis have again collapsed, leaving the country struggling to recover its reputation as one of Africa's potential growth hotspots.

Surveying the current state of student debt: Interview Special

Hoboken - The company LendEDU has just released the results of its survey of 1,001 student loan borrowers and their thoughts on changes to the student debt bankruptcy policy, in the U.S. A research analyst provides an oversight.

Moody's downgrades Turkey rating on policy alarm

Paris - Ratings agency Moody's downgraded its assessment of Turkey's ability to pay back its debts further into junk territory, citing concerns over monetary policy, reform delays and institutional strength.

Economists call for overhaul of eurozone fiscal rules

Paris - Leading economists from France and Germany on Wednesday called for new fiscal rules for the eurozone and the creation of an independent watchdog to help to make the single currency more resilient against crises in the future.

S&P pushes Brazil credit rating further into junk to BB-

Washington - International credit ratings agency Standard and Poor's on Thursday pushed Brazil further into junk territory, lowering the long-term ratings of Latin America's biggest economy to BB-.

Venezuelan Minister attacks US during China visit

Bejing - Venezuela's foreign minister blamed the US for his country's spiralling debt crisis on Thursday, saying Washington's "permanent attack" had left the economy crippled.

Debt bear stalks Goldilocks economy

Paris - The global economy is enjoying a Goldilocks moment, with growth and inflation neither too hot nor too cold.

Venezuela in new defaults on two bonds: ratings agency

Caracas - Crisis-wracked Venezuela has defaulted on two bonds, failing to make a $183 million coupon payment, ratings agency S&P said Friday.

China targets booming online lending as crisis fears build

Bejing - When Jia Xinru needed to borrow money to buy new clothes, order food and buy a projector to screen Breaking Bad on her wall, she had instant access to China's growing number of lenders via her mobile phone.

Greece reaches preliminary agreement with creditors

Atenas - Greece said Saturday it had reached a preliminary agreement with international creditors that it was meeting its commitments to unblock the latest tranche of a third bailout programme.

General named to head debt-ridden Venezuelan oil company

Caracas - Venezuela's President Nicolas Maduro on Sunday named a general to head debt-ridden PDVSA and ordered a "total restructuring" at the state oil giant, in a move that emphasized military support for his regime.
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