The International Monetary Fund (IMF) has given the green light to release $4.7 billion for Argentina in a move tied to a comprehensive debt restructuring strategy, despite the nation falling short of benchmarks related to its $43 billion loan initiative. This decision was made public on Wednesday. Argentina is grappling with a profound economic crisis, considered the most severe in two decades. The... 

In response to the recent protests against Argentina’s economic reforms led by President Javier Milei, the new government has declared that organisers of the demonstrations will be held financially accountable for the associated security costs. The security expenses, totaling 60 million pesos, will be invoiced to the social movements responsible for orchestrating the protests, according to a... 

One of the world’s top economist’s has warned that an apocalyptic crash of the economy is set to happen within the next few months. Years of money printing and manufactured low-interest rates have artificially boosted the prices of both goods and assets to completely unsustainable levels. Many corporations can no longer pay their debts as they are running dangerously low on cash, and Biden has... 

According to American media, President Joe Biden has just announced that the majority of Americans with student debt will have at least $10,000 of their loan canceled. The program is available to any citizens of the United States who have federal student debt and make less than $125,000 annually. President Joe Biden posted on Twitter, “In line with my campaign pledge, my administration is introducing... 

Crisis-hit Sri Lanka has announced that it will halt payments on its foreign debt as its dwindling reserves of dollars are needed to purchase food and fuel. “We have come to a situation where the ability to service our debt is very low. That’s why we decided to go for a preemptive default,” the newly appointed central bank governor, Nandalal Weerasinghe, announced during a briefing on Tuesday. The... 

Moscow has written off more than $20 billion in debt accumulated by African countries during the Soviet era, Russian President Vladimir Putin announced on Wednesday. “It was not only an act of generosity, but also a manifestation of pragmatism, because many of the African states were not able to pay interest on these loans,” Putin told TASS on the eve of the summit. While addressing the Russia-Africa... 

Poverty, unemployment, underemployment, hunger, food insecurity, and overall deprivation affect million of households in the world’s richest country USA. Why? It’s because both right wings of its war party devote most of the nation’s discretionary income for militarism, maintaining the Pentagon’s global empire of bases, and endless aggression in multiple theaters – along... 

Argentina’s embattled government has imposed currency controls intended to rein in a financial crisis that has damaged the country’s standing with investors, taken a bite out of its reserves and driven more people to an economic precipice. Companies now need to get permission from the Central Bank of Argentina to buy foreign currency or precious metals, and to transfer that money abroad.... 

China added to its official gold reserves for the third straight month in February as the country continues efforts to minimize its exposure to the US dollar. The People’s Bank of China added 10 tons of gold to its horde last month. It has accumulated an additional 32 tons of the yellow metal since the beginning of the year. According to the Financial Times, at this rate, China will surpass Russia... 

An estimated 2030 Australians on some form of income support in the nation have died after the government branch tasked with guaranteeing their payments sent threatening and often factually incorrect letters warning of cancellation. At least 2030 recipients of Centrelink’s basic human services in Australia died over a two-year period following the initiation of a ‘robo-debt’ machine-automation... 

The only problem with the U.S. economy is the Federal Reserve central bank, President Trump said Monday. “The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!” he... 

The 28 member states of the European Union (EU) have a total debt burden of €12.5 trillion, which could be even bigger, according to the latest figures from the EU statistics office, Eurostat. Data shows that in the third quarter of 2017 the EU’s debt-to-GDP ratio fell from 82.9 percent to 82.5 percent when compared with the same quarter of the previous year. Greece’s general government-debt-to-GDP... 

Venezuela has defaulted on its £45billion debt after missing interest payments sparking fears investors could seize the country’s oil as payment. Caracas faced the first of what could be a cascade of defaults on its enormous foreign debt Tuesday as financial experts Standard and Poor’s declared the crisis-torn South American country in ‘selective default’. S&P’s... 

The Commonwealth of Puerto Rico is seeking the largest municipal bankruptcy filing in US history, after failed negotiations with creditors over its $70 billion debt crisis. That’s more than four times the debt Detroit collapsed under. On Wednesday, the Financial Oversight and Management Board for Puerto Rico announced they had moved to place the US territory into federal bankruptcy court, making... 

Greece’s European creditors have halted the country’s debt relief deal after Athens proposed a one-off payout to pensioners which contradicts Brussels’ austerity demands. The sides are struggling to agree on the latest review of Greece’s rescue plan of €86 billion. Last week they agreed on a short-term debt relief deal under which Athens must reduce its public debt by 20 percent of GDP...