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Latest from debt crisis

Maldives sitting on a debt pile, not bankrupt as of now

As Maldives reels under an economic crisis, Mohammed Muizzu has sought financial help from Turkey and China, but no one is seen forthcoming.

Maldives President is playing the China card with India hoping that Emperor Xi will give Male aid to tide over economic crisis

world news

Updated on Feb 19, 2024 06:40 PM IST

ByShishir Gupta

China's top-selling to world's most indebted developer: The Evergrande crisis

Evergreen developers and a string of its peers have defaulted on their offshore debt obligations amid slowing home sales and fewer new avenues for fundraising.

real estate

Published on Jan 29, 2024 09:39 AM IST

Reuters |

How to read the fine print of the G20 Delhi Declaration

The Delhi Declaration of G20 acknowledges the defining moment in history and addresses political, economic, and environmental challenges

Prime Minister Narendra Modi, United States President Joe Biden, Saudi Arabian Prime Minister and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud during the launch of the India-Middle East-Europe corridor as part of the G20 Leaders' Summit in Delhi.

india news

Updated on Sep 10, 2023 04:34 AM IST

ByPrashant Jha, New Delhi

Conservative rebellion escalates as House Speaker McCarthy faces ultimatum

Hard-line conservatives angered by House Speaker Kevin McCarthy’s debt-ceiling deal are demanding power-sharing and budget-cutting concessions.

U.S. House Speaker Kevin McCarthy (R-CA) speaks to reporters on Capitol Hill in Washington, U.S., June 8, 2023. REUTERS/Amanda Andrade-Rhoades/(REUTERS)

world news

Published on Jun 13, 2023 05:30 AM IST

Bloomberg | | Posted by Tuhin Das Mahapatra

Debate over U.S. debt ceiling revives concerns for Ukraine funding

The battle to raise the U.S. debt ceiling is reigniting debates in Congress over funding for Ukraine

FILE PHOTO: U.S. House Speaker Kevin McCarthy (R-CA) speaks during a press conference accompanied by House Majority Leader Steve Scalise (R-LA) and U.S. Rep. Elise Stefanik (R-NY) after the House approved the debt ceiling deal he negotiated with the White House to end their standoff and avoid a historic default, at the U.S. Capitol in Washington, U.S. May 31, 2023. REUTERS/Jonathan Ernst/File Photo(REUTERS)

world news

Published on Jun 07, 2023 05:28 AM IST

Reuters | | Posted by Tuhin Das Mahapatra

‘Big win,' says Joe Biden as US Senate approves debt deal avoiding default

Senate Majority Leader Chuck Schumer said ahead of voting that the bill's passage means “America can breathe a sigh of relief.”

Biden said in a statement following passage that senators from both parties “demonstrated once more that America is a nation that pays its bills and meets its obligations — and always will be.”(AP)

world news

Updated on Jun 02, 2023 09:18 AM IST

AFP |

U.S. Senate nears passing bill to lift debt ceiling, Averting major default

US Senate set to pass debt limit suspension bill Thursday night

Senate Minority Whip John Thune, a Republican from South Dakota, speaks to members of the media at the US Capitol in Washington, DC, US, on Thursday, June 1, 2023. Senators are scrambling today to agree on a plan for swift consideration of the debt-limit deal forged by President Biden and the House Speaker ahead of a June 5 deadline to avert a destabilizing default. Photographer: Ting Shen/Bloomberg(Bloomberg)

world news

Published on Jun 02, 2023 06:41 AM IST

Reuters | | Posted by Tuhin Das Mahapatra

Debt Limit deal explained: How will it impact the US economy, polls, and people

10-point cheat sheet on debt limit deal and its implications.

Washington: President Joe Biden speaks in the Roosevelt Room of the White House, Sunday, May 28, 2023, in Washington. Biden and House Speaker Kevin McCarthy reached a final agreement Sunday on a deal to raise the nation's debt ceiling while trying to ensure enough Republican and Democratic votes to pass the measure in the coming week.(AP)

world news

Published on May 29, 2023 07:38 PM IST

ByPrapti Upadhayay

Joe Biden, Kevin McCarthy confident of debt ceiling deal's approval in Congress

Biden and McCarthy sealed their bargain during a 90-minute phone call late Saturday, clearing the way for a push to shepherd the deal through Congress.

US President Joe Biden meets with US House Speaker Kevin McCarthy (R-CA) (L) about the debt ceiling, in the Oval Office of the White House in Washington, DC, (AFP)

world news

Updated on May 29, 2023 05:04 AM IST

Bloomberg |

Student loan payment pause ending: What it means for your wallet

Student loan payment pause to end as part of debt ceiling deal, bringing in $5B monthly, says Speaker McCarthy.

Speaker of the House Kevin McCarthy, R-Calif., talks to reporters at the Capitol in Washington, Sunday, May 28, 2023. Mediators on the debt limit came to an

world news

Published on May 28, 2023 10:27 PM IST

ByPrapti Upadhayay

Could the 14th Amendment fix America’s debt-ceiling debacle?

A constitutional workaround is plausible—but a deal would be better

What if a deal remains elusive for Biden?(REUTERS)

world news

Published on May 26, 2023 09:31 PM IST

The Economist

Biden and McCarthy close to deal on US debt ceiling as deadline looms

U.S. President Joe Biden and congressional Republican Kevin McCarthy are nearing a deal to cut spending and raise the debt ceiling, with little time to spare.

Speaker of the House Kevin McCarthy of Calif., exits the West Wing to talk with reporters after meeting with President Joe Biden at the White House, Monday, May 22, 2023, in Washington. (AP Photo/Evan Vucci)(AP)

world news

Updated on May 26, 2023 01:50 PM IST

Reuters | | Posted by Tuhin Das Mahapatra

As debt ceiling deadline looms Biden and McCarthy meeting ends in stalemate: All we know so far

Joe Biden and Kevin McCarthy's ‘productive’ meeting faces uphill battle amidst Senate pressures at White House

WASHINGTON, DC - MAY 22: U.S. House Speaker Kevin McCarthy (R-CA) talks to reporters outside his office at the Capitol following a meeting with President Joe Biden on May 22, 2023 in Washington, DC. McCarthy characterized today's debt limit negotiations as more productive than previous sessions. Chip Somodevilla/Getty Images/AFP (Photo by CHIP SOMODEVILLA / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)(Getty Images via AFP)

world news

Published on May 23, 2023 09:28 AM IST

ByTuhin Das Mahapatra

Explainer: What US debt limit crisis means for global economy?

A debt default could shatter the $24 trillion market for Treasury debt, cause financial markets to freeze up and ignite an international crisis.

A poster at a bus shelter shows the national debt in Washington, DC.(AFP)

business

Published on May 22, 2023 05:12 PM IST

AP |

US default on $31.46 trillion debt may lead to global crisis: Treasury chief

U.S. President Joe Biden said failure by Congress to act before Treasury runs out of money to pay government bills risked throwing the economy into a recession.

US Treasury Secretary Janet Yellen issued the latest in a series of increasingly stark warnings ahead of a meeting in Japan with her counterparts from the G7 rich nations, as well as India, Indonesia and Brazil.(AFP)

world news

Updated on May 11, 2023 03:45 PM IST

Reuters |

Debt crisis key priority of India’s G20 presidency, says FM in US

Her comments come in the backdrop of what is widely perceived to be China’s position impeding efforts to help countries in distress

Nirmala Sitharaman, India's finance minister, arrives at a Multilateral Development Bank roundtable during the spring meetings of the International Monetary Fund (IMF) and World Bank Group in Washington, DC, US.

india news

Updated on Apr 13, 2023 05:36 AM IST

ByPrashant Jha

Russia-Ukraine conflict cannot be separated from G20, says US head of delegation

Without naming China and Russia, Segal-Knowles said the G20 states are having to renegotiate the text to describe the Ukraine crisis in outcome documents.

G20 head of delegation from the USA Cristina Segal-Knowles (LinkedIn)

india news

Updated on Apr 02, 2023 03:11 AM IST

ByRezaul H Laskar

‘No exaggeration…’: Sri Lanka praises India for aiding in ‘regaining stability’

Jaishankar met with top leadership in Sri Lanka, including President Ranil Wickremesinghe, after visiting Maldives as a part of his two-nation tour.

Union foreign affairs minister meets with his Sri Lankan counterpart Ali Sabry during his two-day visit to the country.(Twitter)

world news

Updated on Jan 20, 2023 11:21 AM IST

BySnehashish Roy

Italy struggles for repayment as state-backed debts mountain to $127 Billion

The International Monetary Fund forecasts that the Italian economy will contract 0.2% in 2023. Italian companies had a record €123.2 billion ($127 billion) of Covid-era state-backed credit lines outstanding as of June 30, up from €118 billion in the previous quarter.

These debts are putting the newly formed government of Giorgia Meloni in a quandary.(AP)

business

Published on Nov 28, 2022 11:56 AM IST

Bloomberg | | Posted by Singh Rahul Sunilkumar

In a first, America's national debt crosses $30 trillion

The latest debt milestone comes at a delicate time of transition for the US fiscal and monetary policy.

world news

Published on Feb 02, 2022 09:57 AM IST

Written by Joydeep Bose | Edited by Amit Chaturvedi, Hindustan Times, New Delhi

China’s growing dollar bond defaults reveal depth of stress

The divergence between the yuan and dollar bond pace of defaults shows how hard it is for Chinese firms to borrow cheaply or get away with debt compromises in a global market.

A worker performs welding works on a bridge in Beijing.(AP Photo)

business

Updated on Jun 24, 2020 07:08 AM IST

ByBloomberg | Posted by Kanishka Sarkar

Two former top officials arrested in IL&FS money laundering probe

The debt crisis at the infrastructure lender came to light following a series of defaults by its group companies beginning September, 2018.

IL&FS has defaulted on payment of loans to SIDBI and along with its subsidiaries has a combined debt of over <span class='webrupee'>₹</span>91,000 crore. (Mint file photo)

india news

Updated on Jun 19, 2019 10:29 PM IST

New Delhi | ByPress Trust of India

Enforcement Directorate carries out raids in Mumbai in multi-crore IL&FS payment default crisis case

They said the residences and offices of at least four directors of the firm are being raided.

1 Ocotber 2018, Mumbai: IL&FS office in Bandra Kurla Complex in Mumbai. Photo by Aniruddha Chowdhury/Mint

business

Updated on May 22, 2019 01:48 PM IST

New Delhi/ Mumbai | ByPress Trust of India

Pak ‘desperate’ for loans: Imran Khan’s words before leaving for Saudi conference

Imran Khan told an interviewer before leaving he was concerned at Khashoggi’s death but could not skip the conference because “we’re desperate” for possible Saudi loans to shore up Pakistan’s economy.

It is Imran Khan’s second visit to Saudi Arabia in just over a month, but he has not succeeded in securing significant financial assistance to stave off a looming balance of payment crisis.(Reuters)

world news

Updated on Oct 22, 2018 06:47 PM IST

Reuters | ByReuters

It may look like ‘taper tantrum’ but India’s in better shape: Report

In 2013, India bore much of the brunt of the “taper tantrum.”

India is lower down on the list of risky economies, behind countries like Argentina and Turkey.(Bloomberg)

business

Updated on Sep 27, 2018 07:40 PM IST

Bloomberg | ByAnirban Nag

The US market collapse has remade our world

And there is surely more to come. How do we prepare for a world where, two years from now, the country you care most about may be governed by someone you’ve never heard of and a political party that doesn’t yet exist? The pace of change is head-spinning.

What’s the big trend in today’s international politics? Out with the old, in with something new. Voters around the world are looking for someone else. Anyone else. Someone they believe can help them regain control of their lives and get them off the path they believe they’re now on.(AFP)

columns

Updated on Sep 15, 2018 04:50 PM IST

ByIan Bremmer

Recovering bad loans would require practicality as well as deterrence

India’s bad debt crisis requires an innovative and unconventional thinking on part of our policymakers. The government should uses legislation along with other mechanisms to achieve the objective.

Businessmen such as Nirav Modi, who are facing cases of bank frauds worth thousands of crores, have fled the country and symbolise the weakness of our criminal justice system in bringing them to account.(Aniruddha Chowdhury/Mint)

editorials

Updated on Jul 23, 2018 07:29 PM IST

Hindustan Times | ByHT Correspondent

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debt crisis news

Latest from debt crisis

As Maldives reels under an economic crisis, Mohammed Muizzu has sought financial help from Turkey and China, but no one is seen forthcoming.

Evergreen developers and a string of its peers have defaulted on their offshore debt obligations amid slowing home sales and fewer new avenues for fundraising.

The Delhi Declaration of G20 acknowledges the defining moment in history and addresses political, economic, and environmental challenges

Hard-line conservatives angered by House Speaker Kevin McCarthy’s debt-ceiling deal are demanding power-sharing and budget-cutting concessions.

The battle to raise the U.S. debt ceiling is reigniting debates in Congress over funding for Ukraine

Senate Majority Leader Chuck Schumer said ahead of voting that the bill's passage means “America can breathe a sigh of relief.”

US Senate set to pass debt limit suspension bill Thursday night

10-point cheat sheet on debt limit deal and its implications.

Biden and McCarthy sealed their bargain during a 90-minute phone call late Saturday, clearing the way for a push to shepherd the deal through Congress.

Student loan payment pause to end as part of debt ceiling deal, bringing in $5B monthly, says Speaker McCarthy.

A constitutional workaround is plausible—but a deal would be better

U.S. President Joe Biden and congressional Republican Kevin McCarthy are nearing a deal to cut spending and raise the debt ceiling, with little time to spare.

Joe Biden and Kevin McCarthy's ‘productive’ meeting faces uphill battle amidst Senate pressures at White House

A debt default could shatter the $24 trillion market for Treasury debt, cause financial markets to freeze up and ignite an international crisis.

U.S. President Joe Biden said failure by Congress to act before Treasury runs out of money to pay government bills risked throwing the economy into a recession.

Her comments come in the backdrop of what is widely perceived to be China’s position impeding efforts to help countries in distress

Without naming China and Russia, Segal-Knowles said the G20 states are having to renegotiate the text to describe the Ukraine crisis in outcome documents.

Jaishankar met with top leadership in Sri Lanka, including President Ranil Wickremesinghe, after visiting Maldives as a part of his two-nation tour.

The International Monetary Fund forecasts that the Italian economy will contract 0.2% in 2023. Italian companies had a record €123.2 billion ($127 billion) of Covid-era state-backed credit lines outstanding as of June 30, up from €118 billion in the previous quarter.

The latest debt milestone comes at a delicate time of transition for the US fiscal and monetary policy.

The divergence between the yuan and dollar bond pace of defaults shows how hard it is for Chinese firms to borrow cheaply or get away with debt compromises in a global market.

The debt crisis at the infrastructure lender came to light following a series of defaults by its group companies beginning September, 2018.

They said the residences and offices of at least four directors of the firm are being raided.

Imran Khan told an interviewer before leaving he was concerned at Khashoggi’s death but could not skip the conference because “we’re desperate” for possible Saudi loans to shore up Pakistan’s economy.

In 2013, India bore much of the brunt of the “taper tantrum.”

And there is surely more to come. How do we prepare for a world where, two years from now, the country you care most about may be governed by someone you’ve never heard of and a political party that doesn’t yet exist? The pace of change is head-spinning.

India’s bad debt crisis requires an innovative and unconventional thinking on part of our policymakers. The government should uses legislation along with other mechanisms to achieve the objective.

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