Summary Chinese leaders promise “basket of measures” to fix local debt Latest Politburo stance suggests Beijing may be ready to step in Extent of Beijing’s involvement closely watched by economists Measures could involve state bank loans, special bonds BEIJING, Aug 7 (Reuters) – China’s promised “basket of measures” to defuse local government debt risks is…
In recent years, China has disbursed tens of billions of dollars in emergency loans and debt restructuring packages to provide relief for countries around the world at risk of financial crises. The bilaterally-agreed bailouts are often on Chinas own terms, but increasingly, the major creditor has been pressed to consider a new proposal that it…
Interest rate rises and a steep fall in household savings mean Australia confronts a recession and food production is in the front line of industries in strife, says a company turnaround specialist. Vantage Performance CEO Michael Fingland said the problems facing fruit and vegetable farming-manufacturing meant the sector was of greater concern than other sectors.…
Company insolvencies in England and Wales have hit the highest level since 2009 as businesses carrying pandemic debts faced a perfect storm of rising interest rates, higher costs and a slowing economy. Registered company insolvencies increased by 13 per cent year-on-year to 6,342 in the three months to June 30, according to the Insolvency Service.…
Former Wajir Governor Mohamed Mohamoud has been declared bankrupt due to his failure to settle a Ksh7.6 million debt owed to a construction company. Despite a court order issued in January 2020, both Mohamed Mohamoud and his wife, Kheira Maalim, failed to pay the outstanding debt, leading the construction company to file a bankruptcy petition…