Loans

Why China could scold for global debt relief

Over the past three months, the sovereign debt restructuring world has called Zoom and forged its way into a new “common framework” for debt restructuring beyond the temporary global relief offered during the Covid-19 pandemic. While, unfortunately, travel and reunion restrictions did not allow for the usual seasonal feasts among …

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As COVID-19 Spreads, Africa Needs Another ‘London Moment’

German Chancellor Angela Merkel, right, delivers a welcoming speech for a “G20 – Compact with Africa” meeting within the framework of the “Compact with Africa” conference at the Chancellery in Berlin, Germany, November 19, 2019. Michael Sohn / Pool via REUTERS The meeting of the Group of Twenty (G20) finance …

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Gallagher co-authored commentary on Argentina’s debt relief

Kevin Gallagher, Professor of Global Development Policy and Director of the Center for Global Development Policy at the Frederick S. Pardee School for Global Studys at Boston University, co-authored a recent commentary in Project union on the restructuring of Argentina’s private debt. Posted on May 6, 2020, the commentary deals …

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G20 debt relief in China “progressing well”

Figures released by the World Bank suggest that China accounts for about half of the debt suspended through DSSI to date. So far, 41 countries have asked G20 countries for debt relief worth $ 8.8 billion under this program. G20 countries had suspended a total of $ 5.3 billion in …

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Fiscal policies for a transformed world – IMF blog

Through Vitor Gaspar and Gita Gopinath عربي, 中文, Spanish, 日本語, Portuguese, сский The ongoing COVID-19 pandemic has already sparked an unprecedented fiscal policy response of nearly $ 11 trillion globally. But with confirmed cases and deaths continuing to rise rapidly, policymakers will need to keep the public health response their …

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Debt Relief Services Company Sued for Violation of TCPA

On Monday, plaintiff Mark Aussieker filed a putative class action lawsuit under the Consumer Telephone Protection Act (TCPA) trial against Worth Unlimited alleging that the company illegally made prerecorded voice telemarketing calls without the recipient’s consent. The Eastern District of California case seeks to certify a category of nationwide victims …

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This is why Argentina’s debt restructuring is so important

Heavily indebted countries could be under severe pressure from the COVID-19 pandemic. Argentina’s creditors have been urged to accept a proposal to restructure debt repayments to make them more viable. Many hope this could set a precedent for the international financial system, as the world continues to grapple with the …

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When debt relief does more harm than good

In a crisis, long-term planning can lose out on quick and dirty solutions, whatever the consequences. As the pandemic and its economic fallout continue, more cash-strapped consumers could fall into this trap if the Great Recession is any indicator. A recent report from the Consumer Financial Protection Bureau found that …

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