By Adwoa Difie Boakye-Mensah, Associate Adviser, Commonwealth Secretariat As countries grapple with rising and unsustainable debt burdens, there has been a call for a new Global Financial Architecture (GFA) to support developing countries to access both concessional and private capital to effectively manage the mounting debt and climate vulnerabilities. Realising the objectives of the new…
As host of the G20 summit last weekend, Indian prime minister Narendra Modi was right to highlight the importance of debt relief. But he and other G20 leaders could have done more to recognise how economic reliance on fossil fuels has made debt crises worse. National debt burdens have reached catastrophic levels in over 50…
As host of the G20 summit last weekend, Indian prime minister Narendra Modi was right to highlight the importance of debt relief. But he and other G20 leaders could have done more to recognise how economic reliance on fossil fuels has made debt crises worse. National debt burdens have reached catastrophic levels in over 50…
The global debt burden retreated for the second year in a row, even though it remains above its already-high pre-pandemic level, according to the latest update of our Global Debt Database. The total debt stood at 238 percent of global gross domestic product last year, 9 percentage points higher than in 2019. In US dollar terms,…
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. COURTESY PHOTO: Giorgio Trovato via Unsplash.com When emergencies strike or monthly…
Colin Tsuboi A student enters The One Stop to get financial aid advice. Photo by Colin Tsuboi / Mass Media Staff The United States Supreme Court voted June 30, 2023 to block the Biden Administrations one-time student debt relief plan. The decision was ruled by a 6-3 vote, blocking $400 billion to relieve federal student…
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. COURTESY PHOTO: Giorgio Trovato via Unsplash.com When emergencies strike or monthly…
By Nadia RamlaganOhio News Connection Ohioans seeking help from companies promising to reduce or eliminate debt or fix their credit scores are getting duped, and often are left financially worse off, according to a new report. Judy Dollison, president of the Better Business Bureau of Central Ohio, said the rise in student loan, medical and…
The global economy has experienced multiple shocks in the past three years. Emerging markets and developing economies not only need to reignite growth and secure a full recovery, but they also must manage rising debt and other policy considerations. Regulatory changes and other market reforms can ease this challenge, as we outline in a new…
Debt relief has been a cornerstone of the Biden Administration dating back to when the President ran for office in 2019 and 2020 as millions of Americans struggle with debt. According to a new report from the Better Business Bureau, many debt relief and repair companies dont live up to their promises.Earlier this year the…