Articles for Debt Crisis

Barclay family funnels millions of pounds to offshore company amid debt crisis
1 month, 2 weeks ago

Barclay family funnels millions of pounds to offshore company amid debt crisis

The Telegraph  

The Barclay family funnelled millions of pounds offshore from Very Group as their business empire faced an escalating debt crisis, the online retailer has disclosed. The payments were made amid massive financial pressure on the Barclay family, which led to Lloyds Banking Group seizing control of The Telegraph last June. The Barclay family agreed to “either refinance or repay all …

Family Debt Crisis Telegraph Funnels Millions Barclay Family Barclay
How Laos' plans to fast-track development left it facing a debt and inflation crisis
5 months ago

How Laos' plans to fast-track development left it facing a debt and inflation crisis

ABC  

Laos is in serious economic trouble. He said the reasons for the big debt were "multi-causal and cascading" including: "over-lending" and poor due diligence by Chinese banks; "over-borrowing" by Laos with the sheer number of project loans appearing to overwhelm the utilities' capacity effectively manage so many large and complex energy projects; over-estimated domestic energy demand projections which justified these …

China Infrastructure Development Inflation Money Economic Hydropower
ATO chases small businesses for $34b in debt, insolvencies tipped to hit post-global financial crisis levels
9 months ago

ATO chases small businesses for $34b in debt, insolvencies tipped to hit post-global financial crisis levels

ABC  

The tax office is chasing more than $34 billion worth of debts owed by small businesses and self-employed Australians that were put on hold during COVID, and sometimes using aggressive enforcement action to collect the money, which experts say is sending some businesses to the wall. "If the ATO were to pursue this debt aggressively, you'd probably find a lot …

Action Financial Recovery Insolvency Debt Recovery Debt Small Businesses
The world should stay vigilant over a debt crisis in the Global South
11 months, 3 weeks ago

The world should stay vigilant over a debt crisis in the Global South

Live Mint  

The International Economic Association recently concluded its 20th World Congress in Medellín, Colombia. Building on earlier studies by Jean-Marie Grether and Nicole A. Mathys, as well as his own previous research, Quah illustrated the world economy’s shifting centre of gravity, which he defines as the “average location of economic activity across geographies." Unlike the Great Recession of 2008-09, which was …

Global Economy World Congress Economic Debt Debt Crisis
PM Modi rejects Pakistan, China's objections on G20 meets, speaks up on Russia-Ukraine war| 10 big takeaways
1 year, 3 months ago

PM Modi rejects Pakistan, China's objections on G20 meets, speaks up on Russia-Ukraine war| 10 big takeaways

Hindustan Times  

Prime Minister Narendra Modi on Sunday rejected Pakistan and China's objections on holding G20 meetings in Jammu and Kashmir. In his interview to the news agency, PM Modi spoke on wide range of issues including G20 summit, terrorism, India's economic growth, 'Sabka Saath Sabka Vikas' model etc. Prime Minister Narendra Modi spoke on India's presidency at the G20, linking it …

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Fiscally imprudent policies, populism affect the poor: PM Modi
1 year, 3 months ago

Fiscally imprudent policies, populism affect the poor: PM Modi

The Hindu  

A week before he hosts world leaders at the G20 summit, Prime Minister Narendra Modi has asserted that the ‘Sabka Saath Sabka Vikas’ model can be the guiding principle for the welfare of a world shifting from a “GDP-centric approach” to a “human-centric one”. “First, countries that are going through debt crisis or have gone through it, have begun to …

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G20 Summit in India opportunity to act on reforming global financial system amid crushing debt crisis: U.N. chief Guterres
1 year, 5 months ago

G20 Summit in India opportunity to act on reforming global financial system amid crushing debt crisis: U.N. chief Guterres

The Hindu  

U.N. Secretary-General Antonio Guterres has said that the G20 Summit to be hosted under India's Presidency provides an opportunity to take action on debt relief and reform the global financial system, as he voiced concern over the "crushing debt crisis" in the world. Mr. Guterres said that because most of these unsustainable debts are concentrated in poor countries, they are …

Global India World Financial System Developing Countries Debt Crisis G20
ECONOMIC PERSPECTIVES | Sri Lankan debt crisis to get worse if IMF prescription is heeded
1 year, 5 months ago

ECONOMIC PERSPECTIVES | Sri Lankan debt crisis to get worse if IMF prescription is heeded

The Hindu  

Published : Jul 13, 2023 11:00 IST - 6 MINS READ On July 1, Sri Lanka’s parliament approved, through a majority 122-62 vote, a plan to restructure the government’s domestic debt, which totalled 15.4 trillion Sri Lankan rupees at the end of March 2023. At that point in time, of the government’s total debt of $86.5 billion, $46.9 billion was …

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Is a global debt bomb about to explode?
1 year, 5 months ago

Is a global debt bomb about to explode?

Al Jazeera  

The majority of low-income nations are on the cusp of a debt crisis, sparking fears of global contagion. “Every day we don’t deliver these things that are within our control, we are basically increasing the costs and the damage gets compounded.” The queue of countries seeking debt restructuring like Zambia is only growing. However, economists and debt-management experts say richer …

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US default on $31.46 trillion debt may lead to global crisis: Treasury chief
1 year, 7 months ago

US default on $31.46 trillion debt may lead to global crisis: Treasury chief

Hindustan Times  

U.S. Treasury Secretary Janet Yellen on Thursday urged Congress to raise the $31.4 trillion federal debt limit and avert an unprecedented default that would trigger a global economic downturn and risk undermining U.S. global economic leadership. "It would also risk undermining U.S. global economic leadership and raise questions about our ability to defend our national security interests." Yellen said she …

Global Japan Congress Economic Debt Developing Countries Treasury
US debt ceiling crisis nears: How this could create turmoil in the financial world
1 year, 7 months ago

US debt ceiling crisis nears: How this could create turmoil in the financial world

Firstpost  

The debt ceiling, also known as the debt limit, is the amount the United States can legally borrow to fulfill its financial obligations. A failure to raise the limit would see the US default – a nigh-unthinkable event that would csend financial markets into a tailspin In Washington, a clash is looming between House Speaker Kevin McCarthy and US president …

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Pakistan needs urgent foreign loans to avoid debt crisis, World Bank warns
1 year, 8 months ago

Pakistan needs urgent foreign loans to avoid debt crisis, World Bank warns

Hindustan Times  

The World Bank has said that various economic shocks have resulted in nearly four million Pakistanis getting pushed into poverty this fiscal year, The Express Tribune reported. The World Bank also called on Pakistan to immediately arrange for new foreign loans to avoid a "public debt crisis." The World Bank called on Pakistan to immediately arrange for new foreign loans …

Pakistan World Bank World Bank Debt Crisis Report Cent
Sri Lankan leader appeals for patience amid economic crisis
1 year, 10 months ago

Sri Lankan leader appeals for patience amid economic crisis

The Hindu  

Sri Lanka’s President on Wednesday appealed for patience amid the country's worst economic crisis but promised brighter times ahead. President Ranil Wickremesinghe said in a policy speech after inaugurating a new parliamentary session that he had been forced to make unpopular decisions to salvage the country's finances, including by implementing measures such as higher taxes. In another three years, present …

India China Sri Lanka Power Economic Crisis Sri Imf
Sri Lankan prime minister: Island’s economy ‘has collapsed’
2 years, 6 months ago

Sri Lankan prime minister: Island’s economy ‘has collapsed’

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka’s debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity, the prime minister told lawmakers Wednesday in comments that underscored the country’s dire situation as it seeks help from international lenders. Wickremesinghe’s remarks also sent a message to potential lenders: “You can’t let a country of such strategic importance collapse,” said …

Economy Sri Lanka Fuel Debt Prime Minister Colombo Lanka
European Central Bank tries to ease fears of debt crisis after bond ‘panic’
2 years, 6 months ago

European Central Bank tries to ease fears of debt crisis after bond ‘panic’

CNN  

London/New York CNN Business — The European Central Bank has tried to calm fears of a debt crisis by promising “flexibility” in managing its huge balance sheet and accelerating work on new ways to reduce stress on heavily indebted countries like Italy and Greece as interest rates rise. In response to the sharp market sell-off, which revived memories of the …

Europe Italy Bank Debt Bond Debt Crisis Greece
Sri Lankan economic crisis explained in five charts
2 years, 8 months ago

Sri Lankan economic crisis explained in five charts

India Today  

The 81-billion-dollar Sri Lankan economy is on the verge of collapse. Weak Currency On the other side, the Sri Lankan Rupee depreciated by more than 50 per cent against the US dollar this year alone. The Sri Lankan Rupee has depreciated against the Indian Rupee by 31.6 per cent, the Euro by 31.5 per cent, the pound sterling by 31.1 …

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Can Cryptocurrency Protect Your Savings from a Looming Financial Crisis?
3 years, 2 months ago

Can Cryptocurrency Protect Your Savings from a Looming Financial Crisis?

The Quint  

The strongest sign for a meltdown has been the increasing debt across the world borrowed to offset the economic distress caused by the pandemic. Moreover, Cassandra, an advanced financial crisis warning model indicates that six economies - the US, Japan, Germany, Taiwan, Sweden, and the Netherlands, are vulnerable to a financial crisis in the next 12 quarters. As witnessed during …

Financial Cryptocurrency Bitcoin Debt Crisis
Rising debt, no widow pension: COVID-19 crisis brings Maharashtra's vulnerable women farmers to the brink
3 years, 7 months ago

Rising debt, no widow pension: COVID-19 crisis brings Maharashtra's vulnerable women farmers to the brink

Firstpost  

Rani More from Osmanabad works on an acre of land but has little income. Since a while, it has been working to sensitise the government to formulate measures to help them and in 2018, MAKAAM had held two consultations with women farmers. MAKAAM had asked for a district- level cell to monitor and support the women in distress on a …

Women Suicide Farmers Maharashtra Work Debt Survey
Costa Rica’s ‘explosive’ debt crisis: All you need to know
3 years, 11 months ago

Costa Rica’s ‘explosive’ debt crisis: All you need to know

Al Jazeera  

Costa Rica desperately needs to enact fiscal reform, experts say, but government efforts may reignite mass anti-austerity protests. Costa Rica’s latest effort to address a nearly $40bn debt crisis threatens to rekindle anti-austerity protests across the Central American nation, experts say, as the government began talks on Monday with the International Monetary Fund. “That is a good thing because the …

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CPEC Crisis: China plays hard as Pakistan spirals deeper into debt trap | Deep Dive
4 years, 1 month ago

CPEC Crisis: China plays hard as Pakistan spirals deeper into debt trap | Deep Dive

India Today  

Political turbulence, foreign debt limits and the Covid-19 pandemic have all come together to slow down Chinese investment in Pakistan as Beijing holds off on projects under the $62 billion China-Pakistan Economic Corridor, including a $6.1 billion railway renovation plan. Internal Report in Pakistan Blames the Govt The Institute of Policy Reforms, a think-tank run by a senior leader of …

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