Archiv: Schulden / debts


24.08.2023 - 19:15 [ United Nations ]

António Guterres (UN Secretary-General) at 15th BRICS summit

„As the global community moves towards multipolarity, we desperately need – and I have been vigorously advocating for – a strengthened and reformed multilateral architecture based on the UN Charter and international law.“ – António Guterres, Secretary General of the United Nations, speaking at the 15th BRICS summit in Johannesburg, South Africa.

24.08.2023 - 18:49 [ Tagesschau.de ]

Guterres auf dem BRICS-Gipfel; „Globale Strukturen spiegeln die Welt von gestern wider“

„Wir bewegen uns auf eine multipolare Welt zu und das ist eine positive Sache“, fügte er hinzu. Er verlangte zudem die uneingeschränkte Achtung des Völkerrechts und der Menschenrechte.

Es sei eine gravierende Ungerechtigkeit, dass afrikanische Länder im Schnitt viermal mehr für Kredite zahlten als die USA und achtmal mehr als die reichsten europäischen Länder, sagte Guterres und forderte die Entwicklung eines wirksamen Schuldentilgungsmechanismus.

21.08.2023 - 09:07 [ Yahoo.com ]

Argentina‘s anti-establishment candidate Milei engages IMF in economic talks after shock primary win

(August 18, 2023)

“We are not going to default on either the IMF nor sovereign debt,” Milei told the IMF officials, according to a message posted on social media by Darío Epstein, one of the candidate’s key economic advisers.

Milei also laid out his Liberty Advances party platform for Argentina’s economy to IMF officials, including “a significant fiscal adjustment, more significant than the one demanded by the IMF,” according to a statement issued by the candidate’s campaign.

19.08.2023 - 16:52 [ Bloomberg ]

The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret

(May 31, 2016)

The basic framework was strikingly simple. The U.S. would buy oil from Saudi Arabia and provide the kingdom military aid and equipment. In return, the Saudis would plow billions of their petrodollar revenue back into Treasuries and finance America’s spending.

It took several discreet follow-up meetings to iron out all the details, Parsky said. But at the end of months of negotiations, there remained one small, yet crucial, catch: King Faisal bin Abdulaziz Al Saud demanded the country’s Treasury purchases stay “strictly secret,” according to a diplomatic cable obtained by Bloomberg from the National Archives database.

19.08.2023 - 16:28 [ aawsat.com ]

Saudi Arabia Cuts Holdings of US Treasuries to Lowest Since 2016

(17 August 2023)

Saudi Arabia’s holdings of US Treasuries were distributed among long-term bonds worth $99.83 billion, representing 92.3% of the total, and short-term bonds worth $8.29 billion, accounting for 7.7%.

19.08.2023 - 16:23 [ Yahoo.com ]

Saudi Pile of US Treasuries at Six-Year Low in Shift to Risk

(August 16, 2023)

The Gulf country in June sold more than $3 billion in US government debt, offloading the securities for a third consecutive month to bring its holdings to $108.1 billion, according to Treasury Department data. The neighboring United Arab Emirates sold nearly $4 billion.

The Arab Gulf region’s petrostates are seeking out new avenues for investing to get higher returns in a world where a backlash is building against the hegemony of the US dollar.

27.07.2023 - 23:50 [ CityAM.com ]

Taxpayer to hand over £150bn to Bank of England to cover QE losses

According to a quarterly report by the Bank on its asset purchase facility – the vehicle it uses to hoover up UK debt on financial markets – losses from bond purchases are poised to balloon by the early 2030s.

After the 2008 financial crisis, the Bank of England started purchasing UK government and corporate debt from financial institutions in an effort to stimulate the economy by pushing down yields.

27.07.2023 - 23:47 [ Financial Times ]

UK government faces £150bn bill to cover Bank of England’s QE losses

(25.07.2023)

Try unlimited access
Only 1 € for 4 weeks

– Then 65 € per month

27.07.2023 - 23:18 [ MortgageSolutions.co.uk ]

Bank of England set to raise base rate to 5.25 per cent

(today)

This will push interest rates to their highest since early 2008 and further hikes are expected this year.

If the rise goes ahead on Thursday, 3 August, it will be the 14th successive rise to the base rate and will pile more pressure on borrowers.

27.07.2023 - 22:10 [ Tagesschau.de ]

EZB erhöht Leitzins auf 4,25 Prozent

(today)

Zu diesem Zinssatz können sich Geschäftsbanken Geld bei der EZB leihen. Am sogenannten Hauptrefinanzierungssatz orientieren sich Banken bei der Kreditvergabe, etwa für private Baukredite.

Der sogenannte Einlagensatz, den Banken für das „Parken“ von Geldern bei der EZB erhalten, steigt somit von 3,50 auf 3,75 Prozent.

27.07.2023 - 22:07 [ Bloomberg ]

Fed Raises Interest Rates to 22-Year High, Leaves Door Open for More

(26.07.2023)

The quarter percentage-point hike, a unanimous decision, boosted the target range for the Fed’s benchmark federal funds rate to 5.25% to 5.5%, the highest level in 22 years.

15.07.2023 - 07:55 [ theFiscalTimes.com ]

Deficit Hits $1.4 Trillion in First 9 Months of Fiscal Year: CBO

(July 11, 2023)

The federal budget deficit totaled nearly $1.4 trillion in the first three quarters of the 2023 fiscal year, according to the latest monthly budget review from the Congressional Budget Office released Tuesday.

The deficit was $875 billion larger from October 2022 to June 2023 compared to a year earlier, with revenues 11% lower and outlays 10% higher.

28.05.2023 - 11:45 [ Daniel Neun / Radio Utopie ]

“Die Linke”: (Euro-) Kapitalismus-Rettung um jeden Preis

(25.November 2013)

Die seit Jahren von den Funktionären dieser sehr alten Partei organisiert gestreuten Propaganda über D-Mark-Nationalisten-Kapitalisten als vermeintlich einzigen Gegnern des Euro-Finanz- und Währungssystems, können alle selbst widerlegen, wenn sie sich ausnahmsweise 10 Sekunden Zeit zum Nachdenken nehmen.

Noch nie wurde in der gesamten Geschichte der Menschheit ein Finanzsystem durch das vorhergehende ersetzt. Ein neues Finanzsystem wäre neu.

Haben wir das jetzt alle verstanden?

20.05.2023 - 22:17 [ theHill.com ]

Congressional Democrats beg Biden to nullify their existence

At one event, Sen. Bernie Sanders (I-Vt.) released a letter to Biden on behalf of himself and nine Democratic senators “to urgently request that you prepare to exercise your authority under the 14th Amendment of the Constitution.” He was joined in this by Sens. Elizabeth Warren (D-Mass.), Jeff Merkley (D-Ore.) and Sheldon Whitehouse (D-R.I.), among others.

Obviously, these are not Nike-wearing cultists, but that only makes their actions all the more inexplicable. These are rational leaders whose desire to nullify their own existence would have seemed entirely implausible to the Framers.

20.05.2023 - 22:12 [ Forbes ]

Democrats Urge Biden To Evade GOP’s Debt Ceiling Demands Using Civil War-Era Amendment

Sen. Bernie Sanders (I-Vt.) led a letter co-signed by 10 other senators that asked the president to use the Civil War-era amendment, which states “the validity of the public debt of the United States . . . shall not be questioned,” to continue issuing debt without congressional approval.

01.05.2023 - 20:05 [ Robert F. Kennedy Jr / Twitter ]

Between Oct. 2021 and Sep. 2022, the U.S. spent $877 billion on the military, more than the next 10 countries combined. These huge military expenditures, along with the rising costs of a for-profit healthcare system, have driven the U.S. national debt to over $31 trillion, nearly $5 trillion more than US GDP. #Kennedy24

Imagine how we could rebuild our nation if we brought even half that amount home. Let‘s take care of those left behind. Let‘s fix our infrastructure. Let‘s clean up our environment. Let‘s make our nation strong and prosperous again! #Kennedy24

07.01.2023 - 19:14 [ Bloomberg ]

The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret

(May 31, 2016)

The basic framework was strikingly simple. The U.S. would buy oil from Saudi Arabia and provide the kingdom military aid and equipment. In return, the Saudis would plow billions of their petrodollar revenue back into Treasuries and finance America’s spending.

It took several discreet follow-up meetings to iron out all the details, Parsky said. But at the end of months of negotiations, there remained one small, yet crucial, catch: King Faisal bin Abdulaziz Al Saud demanded the country’s Treasury purchases stay “strictly secret,” according to a diplomatic cable obtained by Bloomberg from the National Archives database.

22.09.2022 - 17:41 [ 20min.ch ]

Schweizer Nationalbank: Dank Leitzinserhöhung könnte es wieder Zinsen aufs Sparkonto geben

Um die Inflation zu bekämpfen, erhöht die Nationalbank den Leitzins und beendet damit die Zeit der Negativzinsen

22.09.2022 - 17:26 [ Reuters ]

SNB to join 75 basis point hike club on Sept 22, inflation yet to peak – Reuters poll

The ECB, for its part, is due to take its key interest rates significantly higher.

22.09.2022 - 17:02 [ MarketWatch.com ]

Bank of England lifts rates by a half-point after 5-4 vote

The Bank of England decided to lift interest rates by a half-point to the highest level since 2008 in a contested decision, as the U.K. central bank joins peers across the globe in trying to bring inflation down by quelling demand.

The vote was 5-to-4 to bring rates to 2.25%, with three members calling for a 75-basis-point hike while one voted for a quarter-point increase. It was the seventh consecutive rate hike for the U.K. central bank.

22.09.2022 - 16:45 [ AZfamily.com ]

How the latest Fed rate hike will affect your credit card bill

Collectively, Americans have nearly $900 billion dollars in credit card debt, and if you carry a balance, your bill is about to get more expensive, as the Federal Reserve raised its key interest rate for the fifth time this year. Currently, the average interest rate on a new credit card offer is more than 21%, according to LendingTree’s Matt Schulz. “You can expect that average to go up to over 22% in the next couple of months because banks don’t tend to waste a lot of time on raising rates when the Fed does,” Schulz said.

22.09.2022 - 16:28 [ ORF.at ]

Angst vor Schulden: US-Zinssprung mit weltweiten Folgen

Das Hauptproblem: Die hohen Zinssätze treiben den US-Dollar in die Höhe – zum Nachteil anderer Länder. Denn nicht nur Importe werden teurer, sondern auch die Bedienung von Krediten. Die straffe Geldpolitik der US-Notenbank bekommen daher vor allem einkommensschwächere Länder zu spüren, die sich während der Pandemie hoch verschuldet und ihre Kredite in US-Dollar aufgenommen haben – selbst aber keine Dollars verdienen.

27.07.2022 - 15:36 [ @BethLynch2020 / Nitter ]

If you‘re gonna spend a trillion dollars on the military, pursue GOP‘s wet dreams in China, hand 10s of billions to cops and corps, keep Trump‘s tax cuts, while also not delivering on debt relief, higher wages, HC, or protecting any of our rights, why does voting for you matter?

25.07.2022 - 17:30 [ Daniel Neun / Radio Utopie ]

DER WELTFINANZKRIEG (III): Griechenland im Würgegriff der Menschenschinder – Geostrategische Hintergründe

(9. Februar 2012)

Der Amtsantritt Angela Merkels in Deutschland 2005, mit Hilfe der bereits degenerierten SPD, der in 2007 folgende Amtsantritt von Nicolas Sarkozy in Frankreich, für den Segolene Royal durch die eigene „Sozialistische Partei“ und ihren damaligen Ehemann Francois Hollande hilfreich aus dem Weg sabotiert wurde, sowie der Amtsantritt von Dmitri Medwedew in Russland 2008, markierten nicht nur das Ende eines zeitweiligen Gegengewichts gegen den us-amerikanisch-britischen Imperialismus und seiner in Europa bis heute tabuisierten Feldzüge und Eroberungskriege (irrationale Propaganda inklusive). Mit diesen Amtsantritten vollzog sich auch der brutalstmögliche Verrat an der Europäischen Idee.

Statt eines demokratischen Europas – und das heisst immer: ein Europa der souveränen Demokratien – organisierten die nun neu zusammen gesetzten Regierungsräte in Brüssel einen Putsch von oben. Nacheinander wurden alle verfassungsmäßigen Rechte alle Bürger in allen EU-Mitgliedsländern systematisch, systemisch zersetzt, gebrochen, ignoriert, umgangen oder nach Möglichkeit abgeschafft. Gleichzeitig wurde die bereits voran gegangene systematische Enteignung der Menschen im Machtbereich der „Europäischen Union“ eskaliert, insbesondere im neuen Währungsgebiet „Euro“. Der widerstandslos von allen vermeintlich linken oder sozialen Organisationen akzeptierte brutale Sozialraub durch die Hartz IV-Gesetze in Deutschland, der heute nach allgemein akzeptierter Auffassung als eine Ursache der Staatskrisen in Europa gilt, wurde Vorbild für das, was danach kam.

Allen voran in diesem Putsch marschierten sämtliche Unterparteien der „Sozialdemokratischen Partei Europas“ SPE/PES, wie die SPD in Deutschland und die SPÖ in Österreich, sowie alle Unterparteien der „Europäischen Volkspartei“ EVP, wie CDU und CSU in Deutschland und ÖVP in Österreich. Und Seit an Seit mit dabei: die „Europäische Liberale, Demokratische und Reformpartei“ ELDR, mit ihrer Unterpartei FDP, die „Europäische Grüne Partei“ mit deren Unterpartei Bündnis 90/Die Grünen und natürlich die „Europäische Linke“, mit ihrer ganz besonderen Unterunterpartei in Deutschland.

Ebenfalls eine zentrale Rolle in diesem kalten, geostrategischen Putsch spielten die Einheitsgewerkschaften, allen voran natürlich der „Deutsche Gewerkschaftsbund“ DGB. Nicht umsonst ist deren Vorsitzender auch der Vorsitzende des „Internationalen Gewerkschaftsbundes“ IGB.

Ökonomisches Konzept ist hierbei die Kontrollgewinnung über möglichst viele Volkswirtschaften in Europa, die Schaffung einer Einheitszone und nachfolgend die strategische Absenkung aller Löhne und Sozialstandards auf möglichst niedriges Niveau, um von China im Zuge dessen Aufstiegs zur Tributzone des Währungszentrums USA die Rolle der Handelszone zu übernehmen. Soll heissen: niedrige Währung, niedrige Löhne, niedrige Standards, ergo niedrige Produktionskosten im weltweiten „Wettbewerb“, maximale Gewinne für die exportierenden Konzerne und Handelskammern bei Verkauf bzw Lieferung in Währungszentrum und Tributzone. Der Zusammenbruch der Binnennachfrage wird hierbei gezielt in Kauf genommen und ist Teil des Konzepts.

Diese Aufteilung der Welt in Vier Zonen der Ökonomie basiert darauf, dass das nichtstaatliche, durch keinerlei Verträge oder Gesetzgebung eingeschränkte weltweite Interbankensystem des Kapitalismus, basierend auf dem seit dem Römischen Imperium entstandenen Gewohnheitsrecht „Lex Mercatoria“, unantastbar bleibt.

Was in Griechenland passiert, ist ein seit Inkrafttreten des Lissabon-Vertrages Dezember 2009 in Zeitlupe ablaufender Staatsstreich, der reihum durch die Demokratien Europas gehen soll, wie die Pest des Mittelalters. Er soll zerstören, er soll lähmen, er soll Freiräume schaffen, rechtsfreie Räume, in denen dann das Zweite Paradoxon Feudalismus, die Herrschaft einer verschwindend kleinen reichen Minderheit über eine durch das Dritte Paradoxon Hierarchie und Stände gelähmte Mehrheit, mit den neuen Technologien der Bevölkerungskontrolle im 21. Jahrhundert perfektioniert und ein neues, dunkles Zeitalter einläuten soll.

25.07.2022 - 16:45 [ Hans-Werner Sinn / project-syndicate.org ]

Wie man die Schuldensünder zügeln muss

(Apr 23, 2010)

Die Lektion der Krise lautet, dass eine Währungsunion eiserne Haushaltsdisziplin erfordert, um einen Boom-Bust-Zyklus von vornherein zu verhindern. Wieder kommen drei Systemalternativen für die EU in Betracht, um eine solche Disziplin herzustellen:

· Das amerikanische System. In den Vereinigten Staaten gibt es keinen Rettungsmechanismus und keine zwischenstaatlichen Kredite, um bedrängten Staaten zu helfen. Verschwenderische Staaten machen gegebenenfalls Pleite. Die Märkte unterstützen die erforderliche Schuldendisziplin rechtzeitig, indem sie höhere Zinssätze für Staatsschulden fordern, wenn es gefährlich wird. Dieses System funktioniert seit dem 19. Jahrhundert recht gut, obwohl (oder weil) es zu einer beträchtlichen Anzahl an Staatsbankrotten geführt hat. Zuletzt ist New York in den 1970ger Jahren von den Märkten mit harter Hand zur Disziplin gezwungen worden.

01.09.2021 - 10:00 [ Forbes ]

The War In Afghanistan Cost America $300 Million Per Day For 20 Years, With Big Bills Yet To Come

(16.08.2021)

Naturally, the United States has financed the Afghan war with borrowed money. Brown University researchers estimate that more than $500 billion in interest has already been paid (included in the $2.26 trillion total sum), and they figure that by 2050 the cost of interest alone on our Afghan war debt could reach $6.5 trillion. That amounts to $20,000 for each and every U.S. citizen.

17.07.2021 - 07:54 [ Bundesbank ]

Geldvermögensbildung und Außenfinanzierung in Deutschland im ersten Quartal 2021

Die Verschuldung der privaten Haushalte stieg transaktionsbedingt um 17 Milliarden Euro und damit schwächer als zuvor. Zum Ende des ersten Quartals lagen ihre Verbindlichkeiten bei 1 978 Milliarden Euro. Die Verschuldungsquote der privaten Haushalte betrug 59,5 Prozent und war damit so hoch wie zuletzt im Jahr 2010. Sie wird definiert als Summe der Verbindlichkeiten in Relation zum nominalen Bruttoinlandsprodukt (gleitende Vierquartalssumme). Damit setzt sich der Aufwärtstrend weiter fort. In jüngster Zeit ist diese Entwicklung sowohl auf die steigende Verschuldung der privaten Haushalte als auch auf das auf Jahressicht weiter rückläufige nominale Bruttoinlandsprodukt zurückzuführen.

18.05.2021 - 15:54 [ France24 ]

Macron says agreement in place to cancel Sudan’s $5 billion French debt

One of the Paris conference‘s goals is to drum up interest in investment. Projects worth billions of dollars in energy, mining, infrastructure and agriculture would be on offer, said Khalid Omar Youssef, Sudan‘s minister for cabinet affairs.

20.04.2021 - 20:06 [ SPglobal.com ]

Volatility in store for Chad‘s oil industry after president‘s death

Despite its oil wealth, Chad has been facing an enormous debt burden. Global Commodity trading house Glencore is one of the largest creditors to Chad through an oil-for-cash loan. Last year, the Chadian government requested that Glencore suspend payments on its oil-for-cash loan. The oil producer now also relies on oil-for-cash loadings from Chinese creditors.

Chad holds around 1.5 billion barrels of proven oil reserves, according to BP‘s Energy Outlook 2020, making it the 10th-largest oil reserve holder in Africa. Oil accounts for almost 90% of the country‘s export revenues.

24.11.2020 - 19:50 [ Ayanna Pressley, Abgeordnete im US Repräsentantenhaus / Twitter ]

That‘s right @briebriejoy „3 million people over the age of 60 are still paying on student loans.“

We all should be gasping. This debt is choking trillions, it is a crisis & demands urgent, bold action. The Biden-Harris Admin can cancel student debt Day 1 via Exec Order.

16.10.2020 - 01:02 [ Energy Update Magazine ]

QESCO to be handed over to Balochistan govt: Omar

Federal Minister for Power Division Omar Ayub has said the federal government has decided to handover Quetta Electric Supply Company (QESCO) to the provincial government of Balochistan. He said as a part of the privatisation drive, the government had offered Balochistan to takeover the operation of the QESCO, adding that the government was also going to privatise Peshawar Electric Supply Company (PESCO) and the Islamabad Electric Supply Company (IESCO).

02.05.2020 - 11:52 [ CBS News ]

Nearly 4 million homeowners are no longer paying their mortgages

Nearly 4 million people, or just over 7% of mortgage holders, have sought relief on their home loans as of April 30, according to housing data provider Black Knight. That‘s up sharply from the beginning of March, when fewer than 150,000 mortgages were in forbearance.

The number is only expected to grow, with May payments due soon and with the nation‘s unemployment rate expected to reach 15% to 20%.

29.04.2020 - 19:14 [ CherryMedia CCTV / Youtube ]

Comedian Vic DiBitetto goes on an epic rant over government checks and mortgage payments

(23.04.2020)

The four-and-a-half minute rant has received over 1,600,000 views on YouTube, 158,000 likes on Reddit,

29.04.2020 - 18:59 [ The Hill / Twitter ]

Rep. @AOC : „Here‘s the path to canceling rent — we‘re going to lay it out right here. WATCH: @RepAOC lays out a method by which rent and mortgages can be suspended to help both renters and mom and pop landlords.

29.04.2020 - 18:58 [ MPRNews.org ]

3.4M homeowners skip payments; many are scared, say Congress needs to act

„They told me, yes, you can skip three months‘ payments,“ Gullo says. „But then they told me there was a balloon payment at the end of it.“ He was told that after three months, they‘d have to come up with all the money for those skipped payments. So they‘d suddenly owe four months of mortgage payments all at once — $14,000.

23.04.2020 - 16:46 [ theGuardian.com ]

Clashes predicted over trillion-euro Covid-19 aid as EU meets online

European Union leaders are expected to clash over the size and scope of a coronavirus recovery fund as they stand on the precipice of an economic slump unparalleled since the 1930’s Great Depression.

10.04.2020 - 09:04 [ Nuno Rafael Gomes / Twitter ]

In a nutshell, #EU‘s „help“ to fight #COVIDー19:

– Only credit lines (#loans)
– No mutualised debt (#Eurobonds)
– No currency issued to countries (#monetary #sovereignty)
– Free money for financiers, not the real economy
– Skyrocket the #debt/#GDP ratio => more #austerity soon.

08.04.2020 - 15:03 [ NPR.org ]

You‘ve Got Less Mail: The Postal Service Is Suffering Amid The Coronavirus

„The Postal Service is insolvent,“ he says. „It needs debt forgiveness, not debt extension. And it needs an infusion of capital right now.“

The Postal Service‘s finances have long been in sorry shape, in part because of a requirement that the agency pre-fund the future retirement benefits of its employees. The agency says it lost $8.8 billion last fiscal year.

08.04.2020 - 08:41 [ Ansa.it ]

Swift EU deal needed or ‚we all collapse‘ says Di Maio An

The Eurogroup is trying to find a compromise between Italy, France and Spain, on the one hand, who want ‚coronabonds‘, and northern deficit hawks like the Netherlands, Denmark and Finland who advocate the use of the European Stability Mechanism (ESM), rejecting any mutualizing of debt.

28.03.2020 - 21:55 [ Prof Michel Chossudovsky / Global Research ]

What Happens In the Wake of the COVID-19 Lockdown? Economic Destruction, Global Poverty, Bankruptcies, Mass Unemployment. Neoliberalism to the Rescue

What prevails is an atmosphere of fear and uncertainty which enables powerful financial interests to manipulate the stock market and consolidate their financial positions. This crisis has led to an unprecedented concentration of money wealth.

09.02.2020 - 14:27 [ teleSUR ]

CFK Presents Her Book At Cuba’s International Book Fair

Fernandez also spoke about the current administration under President Alberto Fernandez and the four years ahead of them. “We will keep our promises to the Argentinian people without a doubt,” she mentioned.

21.09.2019 - 17:47 [ Belén Sisa ‏/ Twitter ]

Going to the doctor should never be the reason anyone in our country should be in debt. Our health and lives are priceless. Read @BernieSanders plan to #EliminateMedicalDebt here:

21.09.2019 - 17:41 [ New York Times ]

Bernie Sanders Calls for Eliminating Americans’ Medical Debt

On top of his “Medicare for all” proposal, Mr. Sanders’s new plan would wipe out an estimated $81 billion in existing medical debt and ignore such debt in credit scores.

09.07.2019 - 19:55 [ Bernie Sanders, candidate for President / Twitter ]

Republicans have no problem giving over $1 trillion in tax breaks to the rich and massive corporations. But when it comes to canceling student debt or tuition-free college, we „can‘t afford it.“ What hypocrisy!

30.06.2019 - 08:07 [ brettonwoodsproject.org ]

Pakistan requests 13th IMF loan, amid US-China tensions

(04.04.2019)

The focus of the IMF programs was never institutional improvement but structural adjustments, which only protected the interests of a small elite, as these neoliberal policies worked well for them and not the general people.

30.06.2019 - 07:56 [ Hindustan Times ]

Pakistan signs $375 million syndicated loan with UAE banks

Emirates NBD Capital Limited was global coordinator. The transaction was anchored and arranged by Commercial Bank of Dubai, Emirates NBD Bank, Noor Bank, Dubai Islamic Bank, Mashreqbank and Sharjah Islamic Bank.

30.06.2019 - 07:54 [ Tribune.com.pk ]

World Bank approves $722 million loan for Pakistan

The World Bank has approved $722 million loan for Pakistan that will largely be used for improving civic and public transport facilities in Karachi – the largest metropolis that needs nearly $10 billion additional investment to make it liveable.

30.06.2019 - 07:52 [ AL Jazeera ]

Why Pakistan‘s economy is sinking

For decades, the Pakistani authorities have been unable to establish effective tax collection practices. Currently, only one percent of Pakistanis pay their taxes and the country has one of the lowest tax-to-GDP ratios in the world.

Successive governments have avoided imposing stricter controls because they have been staffed by members of the same elites that are actively evading taxes. They are able to do so not only because of government inaction but also because of widespread corruption. In fact, it is cheaper for them to bribe than to pay their dues.

20.06.2019 - 18:38 [ economicshelp.org ]

Effect of lower interest rates

in theory, lower interest rates will:

– Reduce the incentive to save. Lower interest rates give a smaller return from saving. This lower incentive to save will encourage consumers to spend rather than hold onto money.

– Cheaper borrowing costs. Lower interest rates make the cost of borrowing cheaper. It will encourage consumers and firms to take out loans to finance greater spending and investment.

– Lower mortgage interest payments. A fall in interest rates will reduce the monthly cost of mortgage repayments. This will leave householders with more disposable income and should cause a rise in consumer spending.

22.02.2019 - 07:56 [ Fox News ]

America must lead the way to freedom in Venezuela, key investor says

A major movement to gain access to humanitarian aid is expected this Saturday in Cucúta along the Venezuela- Colombia border and ahead of that, a number of American debt holders have a specific and personal interest in a calm and swift resolution to the power vacuum in Venezuela Opens a New Window. — they want to be repaid.