Archiv: debts
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.
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!
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.
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.
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.
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.
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.
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.
Australia „struggling“ with credit card debt, corporate regulator warns
With one of the highest levels of household debt per capita anywhere in the world, Aussies owe a total of more than 45 billion Australian dollars (33.25 billion U.S. dollars) on their credit cards.(…)
While ASIC has urged consumers to be more careful, they also laid a large portion of the blame with the country’s banks, who are currently in the midst of a Royal Commission Inquiry focused on unethical lending practices and misconduct in the financial sector.
Italy must solve debt problem on own: This is a thing for Italians says Scholz
Italy must solve its debt problem on its own, German Finance Minister Olaf Scholz said Friday.
7 mn Italians in debt for medical care
Some 2.8 million Italians have been forced to dip into their savings and even sell their homes, it said.