Washington: The US Treasury Secretary Janet Yellen has warned that the US economy could ‘default’ if it fails to lift the debt ceiling in the coming days. Congress had set a debt ceiling of $31.4 trillion in 2021. Treasury Secretary Yellen pointed out that this limit expires on January 19, after which the Treasury Department […]
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Moscow/Washington: – The Russian Finance Minister has accused those Western countries are making frantic efforts to ensure that Russia does not repay the loans taken from foreign countries, after which the country would be declared a defaulter. Finance Minister Anton Siluanov warned that Russia will not fall prey to these tactics and will repay the […]
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Beijing: Despite the coronavirus pandemic, China’s economy was forecast to show a minimal growth while key sectors were said to have gained momentum. However, the projection is believed fake and several Chinese companies have declared bankruptcy or have defaulted on loans. From January to October this year, Chinese state firms defaulted on bonds worth $6 […]
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Mumbai : ‘RBI’ has prepared a list of 500 highest ‘defaulters’, to resolve the issue of ‘Non-Performing Asset’ (NPA). It has been observed that as per this list, 12 ‘defaulters’ owe banks around Rs 2 lakh crore and action will be taken against them as per ‘Insolvency and Bankruptcy Code’. Two days back, the Union Finance […]
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Washington: The Bloomberg website posted an article highlighting the increasing debt burden on the developing countries, causing defaults in repayments. This will push the countries on the defaulter list, which will have political and social consequences. The article cites the situation in Lebanon and Sri Lanka and warns that Pakistan, Tunisia, Egypt, Ghana, and El-Salvador […]
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Washington: – An international financial institution, S&P Global Ratings, has forecast the global debt to reach 260% of the GDP and warned of an increase in defaulter companies on defaulters. S&P Global Ratings noted that the policies announced by various countries during the Coronavirus pandemic are the main reason for the rising debt burden. Although […]
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Beijing: – China, which was boasting as the only economy to progress even during the Coronavirus pandemic, has started receiving fresh jolts. For the last few months, the number of defaulter companies is on the rise, and as per indications, some of these companies could declare bankruptcy. At the same time, the profitability of the […]
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New Delhi: Union Finance Minister Sitharaman announced that the government is forming a new policy for the Public Sector Enterprises (PSE). The Finance Minister was announcing the fifth and final phase of the economic package announced by Prime Minister Narendra Modi. Sitharaman made a huge announcement of privatisation of all PSEs except the strategic sector. […]
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New Delhi, Dt.29 (PTI) – “By taking my passport or arresting me, they are not getting any money”; “We wish to settle; but we wish to settle at a reasonable number that we can afford and banks can justify on the basis of settlements done before.” – so says ‘Willful Defaulter’ Vijay Mallya. He has […]
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