Russia Avoids Debt Default on Deadline

Fourth EstateA stack of Russian Ruble banknotes.

Russia avoided defaulting on its government debts by completing required payments in US dollars just before the final deadline on March 4. An unnamed US official, quoted in a BBC report, admitted that payments have been made. The US official …

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Sri Lanka Defaults on All Debts

Fourth EstateThe Sri Lanka Presidential Secrtariat. Old Parliament Building, Colombo, Sri Lanka

Sri Lanka announced on Tuesday that it is defaulting on its foreign debt of around $51 billion pending a bailout package from the International Monetary Fund amid the country’s worst economic crisis. Sri Lanka’s finance ministry said that creditors and …

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Visa and Mastercard Blocks Russian Businesses Placed on US Sanctions List

Visa and Mastercard have blocked Russian individuals and financial institutions that were placed on a sanctions list called the Specially Designated Nationals list following the invasion of Ukraine.  “Visa is taking prompt action to ensure compliance with applicable sanctions, and …

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Evergrande Reportedly Makes Last-Minute Interest Payment on Dollar Bonds

China Evergrande Group reportedly avoided a default on a bond interest payment it missed in September, paying off the debt just a day before the end of a 30-day grace period. Local Chinese media reported that the embattled property giant …

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U.S. Department of Education to Erase Student Loan Debt for Borrowers with Severe Disabilities

The United States Department of Education announced on Aug. 19 that it will automatically erase student loans debt for over 323,000 borrowers with severe abilities. The move will cancel over $5.8 billion of student loans debt for Americans identified as …

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