Source link The Biden administration’s fiscal policy is a cause for concern, according to a report The International Monetary Fund (IMF) has raised concerns about overspending by the US government, warning it has been reigniting inflation risks and undermining financial stability around the world. The US federal budget deficit jumped from $1.4 trillion in fiscal […]
Source link The country’s liabilities have been steadily decreasing, according to the central bank Russia’s government and its businesses have been steadily reducing the amount of money they owe to foreign lenders, the latest official data suggests. The country’s level of external debt dropped by nearly a fifth last year, reaching its lowest point in […]
Source link Japan’s holdings of Treasuries hit a new high since August 2022, Treasury data shows Japan’s holdings of US Treasuries have continued to grow, exceeding $1.15 trillion in January, according to data released by the US Treasury this week. Tokyo has been the largest overseas holder of US debt since June 2019. The report […]
Source link The Paris Club group of creditors, which includes Russia, the US, and a number of other leading global economies, has agreed to cancel $2 billion in debt owed by Somalia, it was announced on Wednesday. The group will write off 99% of the money owed by the African country after it concluded a […]
Source link An aging population and higher interest expenses have been pushing the country’s indebtedness higher The US national debt could surge by $19 trillion over the next decade to surpass the $54 trillion mark, owing to the mounting costs of an aging population and higher interest expenses, according to the latest report by the […]
Source link Major economies that fail to address their mounting debt issues will die a “fiscal death,” the head of investment and wealth advisory Laffer Tengler Investments, Arthur Laffer, has warned. In an interview with CNBC this week, he predicted a “decade of debt,” adding that the borrowing crisis has embraced both developed and emerging […]
Source link Liabilities held by the public could exceed the country’s annual output as early as next year, according to the Congressional Budget Office US debt held by the public is expected to hit an all-time high within the next ten years, the Congressional Budget Office (CBO) warned in its latest Budget and Economic Outlook, […]
Source link The burgeoning US debt pile is akin to a “death spiral” that only a “miracle” could extract the country from, economist and ‘Black Swan’ author Nassim Taleb said at a business event on Monday, as quoted by Bloomberg. Taleb defined the expanding US debt load as a “white swan,” meaning a risk event […]
Source link Elevated interest rates, political turmoil, and economic uncertainty portend a crisis on the horizon in 2024 Russian Market is a project by a financial blogger, Swiss journalist and political commentator based in Zurich. Follow him on X @runews The EU is poised for a delicate balancing act in 2024 as it grapples with escalating debt […]
Source link Washington’s borrowings have reached $34 trillion for the first time, up by over $6 trillion since President Joe Biden took office US government debt has breached an unflattering milestone, topping $34 trillion for the first time in history and more than doubling the total of the world’s next-biggest borrower, China. The US Treasury […]
Source link US national debt has continued to mount, jumping by $2.6 trillion in the six months through December to reach $33.8 trillion, according to the Treasury Department. The Treasury indicated that factors such as tax cuts, stimulus programs, increased government spending, and decreased tax revenues have been driving up debt. “The national debt just […]
Source link High interest rates are reportedly siphoning money away from spending on health, education, and other critical needs Developing nations spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022 amid the biggest surge in global interest rates in four decades, according to the latest World Bank report. […]
Source link British households have piled up record debts of almost £3 billion ($3.8 billion) with electricity and gas suppliers, national energy regulator Ofgem has revealed. The total amount owed to energy suppliers has soared by £400 million since mid-October, according to a report released on Friday. It is now at its highest ever level […]
Source link Foreign debt to Russia jumped by nearly 9% in 2022, RBK reported on Friday, citing data from the World Bank’s annual International Debt Report (IDR). According to the findings, a total of 37 states had outstanding debt to Russian creditors last year, amounting to $28.9 billion, marking a $2.3 billion (or 8.7%) increase […]
Source link Russia’s state debt grew by 11.6% in the first nine months of the year as the government borrowed funds to plug a budget gap, RIA Novosti reported on Wednesday. State borrowing between January and September soared, with debt reaching 17% of Russia’s GDP, data showed. Officials pointed out that even with a noticeable […]