Tag - debt

 
 

DEBT

Workers walk past an underconstruction area with completed office towers in the background in Shenzhen's Qianhai new district on Aug. 25, 2023.
BUSINESS / Economy
Jan 1, 2024
China's strained economy casts shadow over 2024
Last year, the economy was roiled by a real estate crisis, falling consumer confidence, deflation and the disappearance of foreign investment.
The Chinese national emblem and flags at the Great Hall of the People in Beijing on Oct. 18.
ASIA PACIFIC / Politics
Dec 21, 2023
China’s move to clip local borrowing puts growth engine at risk
A revamp of the intergovernment debt structure could diminish the fiscal discretion of local leaders and weaken their drive to enact new policies.
A Chinese national flag flutters at the headquarters of a commercial bank on a financial street near the People's Bank of China in Beijing.
BUSINESS / Economy
Dec 6, 2023
Officials hit back after Moody’s downgrades China's credit outlook
The ratings agency downgraded its outlook from stable to negative, saying a need for bailouts could weigh on the country’s economic strength.
Evergrande has become a poster child for China’s property crisis since the builder defaulted two years ago. It reported a combined loss of $81 billion in 2021 and 2022.
BUSINESS / Companies
Dec 4, 2023
Evergrande winding-up hearing in Hong Kong adjourned again
The world’s most-indebted property developer now has eight weeks to convince offshore bondholders to agree on a restructuring.
Pedestrians walk past an electronic board displaying various companies' share prices, in a business district in Tokyo on Oct. 31.
BUSINESS / Economy
Nov 20, 2023
Japan’s fiscal advisory board warns of impact of higher rates
Even small changes could have a large impact given rates are so low and Japan has the largest public debt load among developed economies.
U.S. President Joe Biden boards Air Force One at Joint Base Andrews in Maryland on Friday.
BUSINESS / Economy
Nov 4, 2023
Biden jabs at China 'debt-trap diplomacy’ at Americas summit
In a summit with other Western Hemisphere leaders, Biden cast the U.S. approach as a healthier alternative for countries seeking global investment.
Hiroshi Mikitani, chairman and CEO of Rakuten Group, speaks during a news conference in Tokyo in May.
BUSINESS / Companies
Oct 17, 2023
Rakuten rally from record lows clouded by looming bond deadlines
The most pressing task now for Rakuten is to raise funds for a wall of more than $5 billion of bonds due in the next two years.
Vitor Gaspar, director of the IMF's Fiscal Affairs Department
BUSINESS
Oct 13, 2023
IMF official says fiscal reform will only grow more difficult
According to data from the IMF, Japan's national debt-to-GDP ratio topped 260% in 2022.
Farmers harvest rice in a field in Chai Nat province, Thailand.
ASIA PACIFIC / Society
Sep 18, 2023
Soaring rice prices sow hope and trouble for Thai farmers
Thailand's centuries-old rice cultivation system is under severe stress from climate change and unsustainable farm debts.
Buildings in Guangzhou, China. Aside from short-term solutions, economists see three options for China to restructure its economy.
BUSINESS / Economy / ANALYSIS
Sep 4, 2023
Part of China's economic miracle was a mirage. Reality check is next.
While many analysts see a slow drift towards Japan-style stagnation as the most likely outcome, there is also the prospect of a more severe crunch.
Anti-World Bank protestors gather outside where the International Monetary and Financial Committee’s plenary session was being held in Washington in mid-April. 
COMMENTARY / World
Aug 28, 2023
The global order’s triple policy challenge and the tasks ahead
With public and private debt at record levels, political leaders face the monumental task of allocating resources to address critical global challenges.
BUSINESS
Aug 23, 2023
Kishida under pressure to spend even as debt costs rise
The prime minister pivoted away from his previous stance Tuesday by scrapping September-end plans to stop subsidies that cap gasoline prices.
A trader on the floor at the New York Stock Exchange on July 26
BUSINESS / Markets
Aug 15, 2023
U.S. loss of AAA badge shows shift in views on government debt
Fitch Ratings flagged not only U.S. governance but also higher rates driving up debt service costs, an aging population and rising health care spending.
The Bank of Japan headquarters in Tokyo. Some economists see the central bank’s loosening of restraints on 10-year bond yields as a message to the government that it now will have to do financial management responsibly, because the BOJ won’t control yields as firmly as it used to.
BUSINESS
Aug 4, 2023
Japan’s fiscal plight draws scrutiny after BOJ policy tweak
Tokyo seeking to expand spending on defense and child care, even as the national debt has grown to almost 260% of gross domestic product.
U.S. Treasury Secretary Janet Yellen on Tuesday called the downgrade of the United States' top-tier sovereign credit grade by Fitch Ratings "arbitrary” and "outdated.”
BUSINESS / Economy
Aug 2, 2023
U.S. credit rating downgraded from AAA by Fitch 
Fitch Ratings criticized the country’s ballooning fiscal deficits and an "erosion of governance” that have led to repeated debt limit clashes.
Japan Times
WORLD / Politics
Jul 19, 2023
G20 finance chiefs fail to reach consensus on debt relief for poorer nations
Following 'very intense discussions” this week, the debt issue will remain a 'priority' for leaders set to gather at a September summit, Indian Finance Minister Nirmala Sitharaman said.
Japan Times
BUSINESS / Companies
Jul 7, 2023
Rakuten’s ¥1.8 trillion debt fuels concern despite funding
The e-commerce giant has racked up four years of losses as its mobile-phone business drains cash.
Japan Times
ASIA PACIFIC
Jul 7, 2023
A year after unrest, Sri Lankans languish in poverty and hunger
A year after the toppling of former Sri Lankan President Gotabaya Rajapaksa almost a third of the country lives below the poverty line.
Japan Times
ASIA PACIFIC
Jun 30, 2023
Pakistan gets IMF's initial approval for $3 billion loan program
The funds will support the immediate efforts to stabilize the economy from recent external shocks, preserve macroeconomic stability and provide a framework for financing from partners.
Japan Times
WORLD
Jun 21, 2023
Unlocking climate trillions with a global plan from a sinking island
A summit in Paris this week will bring together the heads of government from more than 100 countries to grapple with financial scarcity as the single-biggest impediment to climate action.

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