WASHINGTON China, under growing pressure from top international policymakers, appeared to indicate this week that it is ready to make concessions that would unlock a global effort to restructure hundreds of billions of dollars of debt owed by poor countries. China has lent more than $500 billion to developing countries through its lending program, making…
The architect of the HECS-HELP system says misinformation is creating anxiety in the community about the effect of inflation on student debt. Key points: Abolishing indexation on HECS-HELP debts would not put more money in the pockets of people with student debt Removing indexation altogether would mean all taxpayers bore the cost of inflation Making…
The Economic and Social Council opened the second day of its annual Financing for Development Forum with a high-level meeting of top global finance officials intent on working collaboratively to help debt-burdened developing countries overcome poverty, climate risks and other challenges to their sustainable development. Lachezara Stoeva (Bulgaria), Council President, said the high-level meeting creates…
If you have debts amounting to 30,000+ and cant afford to repay, a debt relief order (DRO) can help you get a fresh start. But what is a debt relief order? Understanding what is a debt relief order can help you determine whether its a suitable debt solution for you. A DRO can impact different…
In 2018, arts worker Sarah began paying off her student loan debt of $31,330. She didnt think too much about it until this year, when she logged on to her MyGov account to check the balance and saw it had only gone down to $30,630.59. Despite having paid $5,721 from her salary over the past…
Disclaimer: This is sponsored content. All opinions and views are of the advertiser and do not reflect the same of WFTS. Advertiser: Paradise Media. Debt consolidation loans are a great way to help people with bad credit get back on track. By consolidating all of your debts into one loan, you can make things much…
If one country defaults on its loans, its a big problem for its citizens. If a dozen countries default, its a big problem for the world. In the 1980s, defaults in Latin America led to hyperinflation, riots and political instability in Argentina, Brazil and Peru. The world appears to be on the verge of yet…
Millions of Australians are expected to be hit with hikes in their HECS repayments amid skyrocketing inflation. Student loans, known as HECS-Help, are not charged interest. Instead, the full amount is indexed to inflation each year. They are often labelled a good debt being far cheaper than other types of debt. Over the past decade,…
Millions of Australians are expected to be hit with hikes in their HECS repayments amid skyrocketing inflation. Student loans, known as HECS-Help, are not charged interest. Instead, the full amount is indexed to inflation each year. They are often labelled a good debt being far cheaper than other types of debt. Over the past decade,…
After a decade or more in which they have been obsessed with their own problems, countries in the wealthy west are starting to wake up to the risk of a looming debt crisis in poorer parts of the world. This weeks gathering of the International Monetary Fund and World Bank in Washington has been marked…