For the purpose of this paper, Domestic Debt Restructuring (DDR) refers to changes to contractual payment terms of public domestic debt (including amortization, coupons, and any contingent or other payments) to the detriment of the creditors, either through legislative/executive acts or through agreement with creditors, or both.
The company said it has been in talks with existing lender Bifinity and other potential investors to raise capital, but has not been successful.
Ghana is struggling with managing its debt, 20-year high inflation, a weak currency, and rising inequality. For example, inflation rose to 33.9% in August 2022 from 9.7% a year earlier, while the cedi has depreciated by 41% year-to-date against the US dollar. These vulnerabilities have been worsened by the aftershocks of the ongoing Russia–Ukraine war and the COVID-19 pandemic.
After gaining momentum from structural changes and the privatization process in recent years, Woori Financial Group has been actively making changes to become the global leader of the future financial market. The most evident change was made recently in November when the group launched a new Data Intelligence department with a goal to pursue development in areas of data and artificial intelligence. At the beginning of this year, the group also announced its goal to increase its combined monthly
The Chief Executive Officers of telecom companies are concerned about the telecom industry’s financial health, which according to them was
The latest research from The Bank of England has revealed that 74% of financial institutions declared that a cyberattack was amongst the top risks they thought would have the greatest impact on the UK financial system if they were to
The Delta State Government has disclosed that the state government’s total debt profile currently stands at N272billion. The state Commissioner for Finance, Fidelis Tilije, disclosed this on Monday in Asaba. He said, “The total debt size of the state is N272billion and the state is not the second most indebted in the country as reported. Read More
According to him, during the debate that followed the budget reading, his attempt to explain what the government’s debt exchange programme was has been misconstrued as the government’s position on the matter.
-Newsclick.inWorld capitalism is entering a new phase in which Third World economies will witness persistent outflow of finance, even if they raise interest rates in tandem with US rates.There are two defining and portentous features of the current world economic situation. One, which is well
Ultimately, the debt cancellation movement is about grappling with questions of fairness and equality, both socioculturally and under the law.
HELP is coming for flood victims in the form of emergency food support, financial and psychological assistance through the Ministry of Social Development and Family Services. The ministry said it has activated its critical incident response system as a result of heavy rain which caused flooding in some 67 areas across the country, devastating families who live there. In a release, the ministry said it has partnered with key stakeholders, including the Disaster Management Unit (DMU) of the...