Debt

US debt fight raising government borrowing costs, says Treasury Secretary Janet Yellen

The rate's rise comes with a corresponding drop in the price of the bonds, meaning the US government must borrow more than under ordinary conditions

Why US debt default could cause catastrophic damage to the dollar and its reputation

In August 2021, the mere prospect of a potential default led to an unprecedented downgrade of the nation’s credit rating, hurting America’s financial prestige as well as countless individuals, including retirees. An actual default would be far more damaging

'Kumbaya moment or economic chaos?' How the US debt limit standoff might end

House Speaker Kevin McCarthy said the US would not default. But he is still linking that issue directly to spending cuts in a way that Joe Biden wants to avoid. His debt limit bill would reverse discretionary spending to 2022 levels, then place a one per cent cap on increases going forward

Africa faces high-levels of debt but foreign aid stalls

According to the IMF, which has dropped its growth projection for sub-Saharan Africa to 3.6 per cent for this year, public debt in the area was 56 per cent of GDP at the end of last year, its highest level since the start of the 2000s

African nations consider swapping debt to invest in climate action

The 'debt-for-climate swap' option is an economic tool that allows a country's debt to be reduced in exchange for commitments to green investments. It was among several green financing alternative models discussed at the ongoing UN conference

Credit Suisse deal wipes out high-risk debt holders

Swiss authorities required that 16 billion Swiss francs in so-called additional tier 1 (AT1) bonds be written down in the mega-merger that was announced late Sunday

G20 finance chiefs differ on debt, Russia-Ukraine war

The meeting of finance ministers and central bank chiefs of the Group of 20 (G20), hosted by India, was likely to end later in the day without a joint communique because there was no consensus on how to describe the conflict in Ukraine, delegates said

Explained: How the Federal Reserve's half-point rate hike will affect American wallets

The effects of the Federal Reserve raising its key interest rate several times this year have been felt by Americans. Those who save will benefit and borrowers can expect to pay more on credit cards, student loans and other forms of debt

Essar Group to build Rs 40,000-crore petrochemical complex in Odisha; details here

The recent completion of Essar's asset monetisation program has resulted in the group being free of debt to Indian financial institutions and banks

Explained: Joe Biden's debt forgiveness plan for American students and how it will provide relief

The student loan plan announced by President Joe Biden will forgive up to $10,000 in loan debt for anyone who makes less than $125,000 a year