More than 50 countries, composing half of the worlds poorest people, are facing severe debt distress. Crisis might be an overused term in global politics, but surely this qualifies as one. The International Monetary Fund (IMF) serves as the lender of last resort for financially distressed countries its role to lend at reasonable terms when…
Two new programs implemented by the Biden Administration–‘On-Ramp’ and ‘Fresh Start’–will give borrowers debt relief options despite a recent ruling from SCOTUS. CENTRAL, Texas For a year, student loans have been the topic of discussion with more than half of the nation in debt. Last summer, President Biden had promised to cancel up to $20,000…
A protester holds a Cancel Student Debt sign outside of the Supreme Court Building after the nations high court stuck down President Bidens student debt relief program on Friday, June 30, 2023, in Washington, D.C. (Kent Nishimura / Los Angeles Times via Getty Images) The Supreme Court is an incredibly powerful institution, with the capacity…
Jed Shugerman is a law professor at Boston University. And he was not exactly surprised by the big Supreme Court decision last month that upended the presidents student debt relief plan. In fact, he wanted this outcomesort of. Allow me to explain. While most progressives interested in forgiving student debt spent the past year saying…
The United States Supreme Court majority issued four reactionary decisions on June 30 its final day in session. In addition to ending affirmative action in college admissions and upholding voter restrictions in Mississippi, the Court curtailed LGBTQ rights and struck down debt relief for students burdened with higher education tuition loans. The New York Times…
If tackling your debt feels daunting, consider the debt snowball method. This popular debt-payoff strategy is engineered to give you wins early in the process, which can make it easier to stay motivated. Similar to the debt avalanche, the debt snowball involves strategically using extra cash to shave years off your debt repayment and save…
Robodebt Commissioner Catherine Holmes says the disastrous debt recovery scheme was “crude and cruel” and “made many people feel like criminals”. The long-awaited final report by the Royal Commission into Robodebt was handed down on Friday and tabled in parliament with 57 recommendations. Some of the details in the Robodebt report and this story may be distressing for some…
Delays in developing an enhanced framework for sovereign debt restructuring are preventing distressed countries from ensuring sustainable sovereign debt stocks and regaining access to international capital markets, leaving their sovereign credit ratings in default or near a default grade for longer periods. This adds to the human costs of default, contributing to risk of a…
Antigua and Barbuda has embarked on a significant endeavour to manage its public debt portfolio, amounting to US$1.54 billion, by implementing Commonwealth Meridian, a state-of-the-art debt management system. The process commenced with a two-week workshop held in partnership between the Commonwealth Secretariat and the Government of Antigua and Barbuda in the capital city of Saint…
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