Factbox-Developing countries facing a debt crunch
© Reuters. FILE PHOTO: The International Monetary Fund logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File PhotoLONDON - High interest rates, growing investor risk aversion and borrowing that ballooned in recent years have left a range of developing economies mired in debt crises.
Its progress in restructuring both domestic debt and $30 billion in external debt has been fairly swift and it secured a $3 billion IMF bailout in May. The IMF last month welcomed central bank changes, including phasing out a controversial exchange platform and curbing monetary financing of the government. But it said deeper reforms were needed amid the country's"difficult and unstable" outlook.Pakistan needs upwards of $22 billion to service external debt and pay bills for fiscal year 2024. A caretaker administration is in charge with elections scheduled for January.
But the parties continue to spar over how much of a hit domestic banks and investors in state-owned enterprises should take. The next tranche of a $2.9 billion IMF bailout package could be delayed over a potential government revenue shortfall.Multiple shocks since a 2011 revolution have pressed the North African nation into a full-blown economic crisis.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Factbox-From UPS to Detroit Three automakers, US labor unions flex muscle By ReutersFactbox-From UPS to Detroit Three automakers, US labor unions flex muscle
Weiterlesen »
Factbox-Kingmakers rise ahead of close-run New Zealand election By ReutersFactbox-Kingmakers rise ahead of close-run New Zealand election
Weiterlesen »
Factbox-Court challenges to Medicare drug price negotiation plan By ReutersFactbox-Court challenges to Medicare drug price negotiation plan
Weiterlesen »
UH partners with University of Oxford on developing treatments for rare diseasesUniversity Hospitals in Cleveland is partnering with the University of Oxford and a U.K.-based investment company to launch a transatlantic therapeutics accelerator aimed at developing treatments for rare diseases
Weiterlesen »
Junior miners are the pioneers of the future in developing new resourcesJunior miners are playing an increasingly important role in producing the critical minerals needed for decarbonisation and the Just Energy Transition (JET), according to Dr. Eduard Vorster, Managing Director, Resources at leading consulting engineering and infrastructure advisory firm Zutari. “These are really the pioneers that find new resources in, for instance, the critical raw mineral types in demand at present and that will be sought after in future,” says Dr. Vorster. These include Rare Earth Elements (REEs), a group of 17 elements. Neodymium, dysprosium, and praseodymium are particularly important for the production of powerful magnets used in wind turbines and electric vehicle motors.
Weiterlesen »
Former Packer Allen Lazard developing chemistry with Zach WilsonAllen Lazard came to the Jets as a trusted receiver for Aaron Rodgers, but the former Packer finally found some needed chemistry with Zach Wilson on Sunday night against the Chiefs.
Weiterlesen »