A Treasury official will call for greater transparency over emergency currency “swap” loans to struggling countries by China’s central bank.
Tag: Credit and Debt
Africa’s Debt Crisis Has ‘Catastrophic Implications’ for the World
Crushing obligations to foreign creditors that have few precedents have sapped numerous African nations of growth and stoked social instability.
Kenyan President Fires His Cabinet After Nationwide Protests
President William Ruto dismissed all but one of his cabinet secretaries after demonstrations over a finance bill that would have raised taxes led to the deaths of at least 41 people.
U.S. and Europe Eye Russian Assets to Aid Ukraine as Funding Dries Up
Despite legal reservations, policymakers are weighing the consequences of using $300 billion in Russian assets to help Kyiv’s war effort.
World Bank Warns Record Debt Burdens Haunt Developing Economies
Surging interest rates and waning financing options threaten a “lost decade” for poor countries.
Your Tuesday Briefing: Putin Addresses Russia
Also, Pakistan’s military fired three top commanders.
World Bank Projects Weak Global Growth Amid Rising Interest Rates
A new report projects that economic growth will slow this year and remain weak in 2024.
Pressure Mounts on China to Offer Debt Relief to Poor Countries Facing Default
There was optimism at the spring meetings of the I.M.F. and World Bank that China will make concessions over restructuring its loans.
After Doling Out Huge Loans, China Is Now Bailing Out Countries
Beijing is emerging as a new heavyweight in providing emergency funds to debt-ridden countries, catching up to the I.M.F. as a lender of last resort.
Meet the Xi Jinping Loyalist Now Overseeing China’s Economy
He Lifeng’s long career in government has spanned the extremes of China’s approach, from the early embrace of small business in the 1980s to today’s tighter state control.