CAMBRIDGE Low-income countries are in the throes of a liquidity crunch that is not only undermining their economic development but also deepening the global climate crisis. In 2020 and 2021, net financial transfers to Africa were close to zero their lowest level in a decade despite record transfers from multilateral development banks (MDBs). That drop-off…
As President Joe Biden urged global cooperation at the United Nations to combat climate change, a coalition of U.S. Catholic organizations is calling on his administration to use debt relief as a means to “unlock critical funding” for countries most vulnerable to the impacts of a rapidly heating world. The letter campaign, organized by the…
A farmer sprays paddy seeds in a rice field in Chainat province, Thailand, Aug 31, 2023. REUTERS/Athit Perawongmetha/file photo BANGKOK -Thailands cabinet has approved a plan to suspend debt repayments for millions of farmers for three years at a total cost of about 33 billion baht ($908 million) to the government, a deputy finance minister…
Having multiple loans complicates business bookkeeping. Multiple loans may also impact business cash flow during the month. Should you consider business debt consolidation? Absolutely. Even if youre easily managing multiple loans and cash flow, you might save money through debt consolidation. An investigation into small business debt consolidation that helps you save money? Sounds like…
CEO of the Victorian Chamber of Commerce and Industry, Paul Guerra, has come up with an idea for the federal government to help tackle Victorias debt crisis. Australia is set to record its first surplus in 15 years, which has been revised up to $22.1 billion, with Mr Guerra telling Ross and Russel what the…
Credit card interest rates are the highest we’ve seen in years, with a national average APR of about 24% as of Sept. 2023. This has made the cost of credit card debt even more expensive, and with the average credit card debt among cardholders with unpaid balances sitting at $7,279, it has caused a financial…
Sep 25, 2023 6.13pm Star Entertainment, the embattled operator of casinos in Sydney, Brisbane and the Gold Coast, is raising $750 million at a significant discount but says it will not proceed with the sale of any of its assets. The company has also secured $450 million in new debt facilities from Barclays and Westpac…
Make this a priority. Debt is expensive – financially, emotionally and mentally. It increases stress levels and anxiety. It keeps you emotionally obligated to individuals whom you are financially indebted to. It has a huge financial cost. When you service your credit card debt of around 24% annualised, be extremely mindful of the fact that this…
Millions of American are in debt, but debt relief companies have their own issues. American consumers hold more than $16 trillion of debt in the form of mortgages, credit cards, personal lines of credit, home equity lines of credit, student loans and personal loans. When emergencies strike or monthly paychecks dont always cover bills, countless…
Student loan payments are notoriously difficult to pay off. In fact, on average it takes borrowers 20 years to pay off their student loans, according to a 2021 report from the Education Data Initiative. And while the Biden-Harris student loan forgiveness plan was struck down by the Supreme Court in June 2023, borrowers with an…