debt

U.S. Poised to Force Russian Debt Default

The U.S. will close the last avenue for Russia to pay its billions in debt back to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable.

GLASGOW, SCOTLAND - NOVEMBER 03: US Treasury Secretary Janet Yellen takes part in a CNN television interview in the Action Zone at COP26 on November 03, 2021 in Glasgow, Scotland. Day Four of COP26 is billed as Finance Day at the 2021 climate summit in Glasgow. Global political and Business …

Sri Lanka Begs China for Off-Ramp from Belt and Road Debt Trap

Sri Lankan President Gotabaya Rajapaksa on Sunday asked Chinese Foreign Minister Wang Yi to restructure payments for the roughly $5 billion Sri Lanka borrowed from China to build wasteful and unproductive projects under China’s Belt and Road Initiative (BRI). Critics describe BRI as a form of colonialism, a “debt trap” set by imperialist China for Third World countries, and Sri Lanka often serves as Exhibit A for the prosecution.

Gotabaya Rajapaksa

Chinese Property Shares Tumble Amid Fears of Evergrande ‘Contagion’

The impending collapse of China’s gigantic Evergrande Group real estate company caused a tumble at the stock market on Tuesday for other Chinese property developers. Even investors in completely unrelated markets are growing nervous about what the implosion of such a huge company could do to banks in China and around the world – and what it could mean for Beijing’s geopolitical agenda.

WUHAN, CHINA - SEPTEMBER 26: (CHINA OUT) An aerial view shows the Evergrande Changqing community on September 26, 2021 in Wuhan, Hubei Province, China. In 2015, Evergrande real estate acquired four super large projects in Haikou, Wuhan and Huizhou, with a total construction area of nearly 4 million square meters …

Analysts Say Zambia Concealed Half of its $6.6 Billion Debt to China

Analysts from the China Africa Research Initiative (CARI), a Johns Hopkins University project to study China’s political and economic influence among African nations, said on Tuesday the African nation of Zambia owes $6.6 billion to China – more than double the amount claimed by former President Edgar Lungu. 

Zambia's President Edgar Lungu (L) shakes hands with China's President Xi Jinping before their bilateral meeting at the Great Hall of the People on September 1, 2018. - Lungu is in China for the Forum on China-Africa Cooperation which will be held in Beijing on September 3 and 4. (Photo …

Rand Paul: Lawmakers Perpetuating Lockdowns by Handing Money to States with ‘Arbitrary and Unscientific’ Rules

Sen. Rand Paul (R-KY) blasted the $2.3 trillion government spending bill — $900 billion of which is dedicated to coronavirus relief — criticizing Republicans for voting to print money with impunity. He warned Congress is essentially perpetuating lockdowns by handing money to states with leaders implementing rules that are “arbitrary and unscientific.”

WASHINGTON, DC - FEBRUARY 11: Senator Rand Paul (R-KY) delivers an opening statement before John F. Sopko, special inspector general for Afghanistan reconstruction, testifies before the Senate Homeland Security and Governmental Affairs Committee in the Dirksen Senate Office Building on February 11, 2020 in Washington, DC. The Senate committee heard …

Report: Chinese Currency Soars on Hopes of Joe Biden Victory

The Financial Times (FT) reported on Friday that China’s currency, the renminbi, had its biggest rally in 15 years, driven by increased foreign demand and “rising expectations that a Joe Biden victory in next month’s U.S. presidential election could help reset relations between the two superpowers.”

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