London The Republic of the Congo is set to become the latest African country to start debt-relief talks with trading houses after borrowing $2bn from merchants, such as Trafigura and Glencore, but now find its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend money to resource-rich clients in financial distress…
(Refiles to add lenders in final paragraph) * IMF pushing Congo to renegotiate debt * Loans primarily came from Trafigura, Glencore * Many African countries have borrowed from traders By Julia Payne and Dmitry Zhdannikov LONDON, Feb 20 (Reuters) – Congo Republic is set to become the latest African country to start debt relief talks…
* IMF pushing Congo to renegotiate debt * Loans primarily came from Trafigura, Glencore * Many African countries have borrowed from traders By Julia Payne and Dmitry Zhdannikov LONDON, Feb 20 (Reuters) – Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2 billion…
As a trusted advisor you are likely to encounter clients that ask your advice on how best to manage their personal debt. While not strictly an accounting issue they will expect that since your profession deals with money that you will be able to advise them in this area. Since we entering a phase of…
By Helen Oji With Agency Report Nigeria sold $2.5 billion of Eurobonds as it sought to lower funding costs by using the notes to refinance higher-yielding naira debt. Africa’s biggest economy on Thursday issued $1.25 billion of 12-year securities with a yield of 7.14 percent and a separate 20-year tranche, also $1.25 billion, at 7.7…
The RBA expects Australian economic growth to accelerate to above 3% over the next two years Westpac doesnt share that view, forecasting that it will stand at 2.5% over both years thanks largely to weakness in consumer spending Australias Q4 2017 GDP report will be released in early March Australian economic growth looks set to…
Monday 19 February 2018 Article by Tom Watson In a move aimed at improving consumer protection and addressing the nations mounting credit card debt, the federal parliament passed a suite of changes last week, including a ban which will stop banks and other providers from sending unsolicited card limit increase offers to their customers. From…
Westpacs subsidiary, St. George Bank, has released the new Rainbow Vertigo Classic and Platinum credit cards to support equality. Source: St. George Bank St. George Banks General Manager Ross Miller told Canstar the new cards will be available from 19 February 2018 and offer the same features as the current St. George Vertigo Classic and Vertigo…
William White February 18, 2018 Global monetary policy has been ultra-easy for many years. Yet it is becoming clear it is now caught in a debt trap of its own making. Continuing on the current monetary path is ineffective and increasingly dangerous. But any reversal also involves great risks. It follows that the odds of…
Manama: Kuwaits Emir Shaikh Sabah Al Ahmad Al Jaber Al Sabah on Sunday ordered the payment of debts for citizens and expatriates held in prison for failing to pay them up, the Emiri Court said. His Highness the Emirs generous decision was announced in celebration of the auspicious occasions of Kuwaits 57th National Day and…