Debt News

Greek lawmakers pass fresh reforms sought by creditors

By AFP

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

By AFP

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

By AFP

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

By AFP

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

By AFP

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

By AFP

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

By AFP

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

By AFP

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

By Edgar Wilson

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

By AFP

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

By AFP

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

By AFP

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

By AFP

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

By AFP

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

By AFP

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

By 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

By AFP

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

By John McAuliffe

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

By AFP

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

By AFP

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

By AFP

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

By AFP

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

By Kesavan Unnikrishnan

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.