Greek Bond Sale Is Said to Be Delayed by IMF Debt Cap Rule – Bloomberg – 18/07/2017

Greece’s much anticipated return to bond markets this week has been held off partly due to a ceiling set by the International Monetary Fund on the amount of debt the country can hold, according to three officials familiar with the matter who asked not to be identified as the talks are confidential.

Source:  Bloomberg, 2017/07/18

By |July 20th, 2017|Categories: News|Tags: , , , |

Ecuador’s former President Correa Lied about his Country’s Debt – PanamPost – 17/07/2017

Last week, former President of Ecuador Rafael Correa tweeted that he “left the table served” for President Lenin Moreno, meaning that the nation’s finances were in good condition and transparent. But that doesn’t actually seem to be the case.

Source:  PanamPost, 2017/07/17

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Swedish Banks Start Adding Risk Weights to Government Bonds – Bloomberg – 16/07/2017

Regulations have historically implied that government bonds are risk-free. But Greece’s near-death experience quickly made a mockery of that assertion. Now, Sweden is taking the next step and banks in the country are starting to assign risk weights bigger than zero to the government bonds on their balance sheets.

Source:  Bloomberg, 2017/07/16

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S&P downgrades Chile sovereign debt for first time in decades – Reuters – 14/07/2017

Credit ratings agency S&P downgraded Chile's long-term foreign currency rating to 'A+' from 'AA-' on Thursday, the country's first downgrade since the 1990s, as weak business confidence and low prices for key export copper have eaten into fiscal revenues.

Source:  Reuters, 2017/07/14

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US Debt To GDP Hits A Record Level But China Catching Up Quickly – Value Walk – 12/07/2017

China’s rapidly growing corporate and personal debt is always cited as being one of the main risks to the global economy. The country’s debt mountain has exploded higher since the financial crisis, and after the World Economic Forum had warned that China’s debt would increase by a worrying $20 trillion by 2020 and could soon [...]

By |July 13th, 2017|Categories: News|Tags: , , , |

The Ultimate Debt Bubble Is Upon Us – Seeking Alpha – 11/07/2017

Since the last economic crisis, the Western World consumer's debt deleveraging has been the only major exception to broad debt accumulation. The only reason we were able to cope in the US and globally is because of the lower interest rates. That trend has now come to an end. While the broad nature of this [...]

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Irish government debt four times pre-crisis level, NTMA says – FT – 10/07/2017

The country’s general government debt is €200bn — four times the level it was in 2007, before the crisis hit and the country’s banking sector collapsed, the NTMA said at the launch of its 2016 annual report and half-yearly update.

Source:  FT, 2017/07/10

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S&P cuts Venezuela’s debt ratings, sees risk of default – Daily Sabah – 13/07/2017

S&P Global Ratings said yesterday it has lowered Venezuela's sovereign debt ratings, warning of the risk of default as economic conditions in the oil-rich country worsen and political tensions rise.

Source:  Daily Sabah, 2017/07/13

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EU says Greece public finances back in order, closer to market return – Reuters – 12/07/2017

Greece's fiscal position has improved and the European Union should end disciplinary procedures against it over its excessive deficit, the EU commission said on Wednesday, paving the way for the country to return to international bond markets.

Source:  Reuters, 2017/07/12

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Italy’s national debt predicted to fall – FT – 12/07/2017

The country has the most sovereign debt outstanding of any member of the eurozone, both in absolute terms and when compared with the size of annual economic output. Fears about Italy’s ability to support the debt and thus remain a member of the single currency were at the heart of the European debt crisis in [...]

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