G20 finance chiefs warns of sharp contraction from pandemic
The Group of 20 also discussed extending its debt relief program for developing nations and new tax rules for online giants Google, Amazon, Apple and Facebook.
Japan's fiscal condition worsens further amid COVID-19 malaise
Japan's fiscal goal is to achieve a primary balance surplus in fiscal 2025. But a top Finance Ministry official says that "it's almost impossible."
Europe’s debt reckoning may mean tough choices on who to tax
As European governments rapidly ramp up borrowing to aid economies, the region’s experience of austerity is framing the debate on how to tackle debt.
Unpriceable risk of climate change stalks $31 trillion sovereign debt market
How much growth are societies willing to sacrifice to counter climate change and how will that affect the sovereign debt market?
Japan working on way to inject capital into pandemic-hit firms
They aim to expand special loans from the state-backed Development Bank of Japan to help such companies via subordinated loans.
Bailouts and delistings loom for Japan’s beleaguered regional banks
Coronavirus crisis expected to cause bad loans to climb and investment income to evaporate
The money taboo that central banks have shied away from so far
The coronavirus economy is shredding records for government borrowing and for central-bank lending. Soon it may also smash the taboo that’s supposed to keep those two things apart. Governments paying for budget spending with loans from their own central banks is known as monetary financing. ...
G7 to provide debt relief to poor nations amid coronavirus outbreak
Finance chiefs from the Group of Seven industrialized nations have agreed to provide debt relief to help developing countries finance emergency measures against the spread of the new coronavirus. The G7 finance ministers and central bank governors said after a video conference late Tuesday that ...
Huge Australian household debt threatens to worsen recession
Thuy Pham has run two jobs for much of her working life, and a little over two years ago all that effort paid off when she realized a dream of buying her own home. As the coronavirus shutdowns have deepened, that’s started to unravel: ...
Global wave of consumer default underway, beginning in China
Like millions of people around the world, Zhang Chunzi borrowed money she thought she would be able to repay. Then the new coronavirus changed everything. Now laid off from her job at an apparel exporter in Hangzhou — one of China's most prosperous cities — ...
'No reason' rising U.S. wages and job gains can't continue, says Fed chief Powell
Federal Reserve Chair Jerome Powell on Wednesday reiterated his confidence in the sustainability of the record-long U.S. economic expansion, now in its 11th year. "There's no reason why the current situation of low unemployment, rising wages, high job creation — there's no reason why it ...
Japan shrinks budget surplus forecast as it grapples with debt mountain
Japan kept unchanged its timing for balancing the primary budget on Friday, but expects to see a much smaller excess than previously thought when it hits a budget surplus, underlining the government's struggle to rein in massive public debt. Prime Minister Shinzo Abe's government stuck ...
