High interest rates are pushing even more poor countries to the brink of financial collapse, the World Bank said in a 3 December report.
Tag: high interest rates
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PERSONAL BANKRUPTCIES JUMP 15.4 PERCENT IN CANADA THIS YEAR
Through 30 September, 15.4 percent more Canadian households became insolvent this year than last as the country’s cost-of-living crisis continues, the Office of the Superintendent of Bankruptcy reported.
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STRAPPED CORPORATE BORROWERS DEFER PAYMENTS TO CONSERVE CASH
Companies that have borrowed from private credit funds and now face a financial squeeze are using a tactic called “payment in kind” (PIK) to skip their payments and conserve their cash.
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AUTO LOANS ARE TURNING SOUR, CARMAX WARNS
For June, July, and August, used-car retailer CarMax reported a 14.4-percent loss in auto loan revenue, year on year, after analysts had forecast 7.4 percent growth.
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SWEDEN’S CENTRAL BANK CUTS RATES, SAYS MORE COMING
On 20 August, Sweden’s Riksbank took a quarter point off its policy interest rate, reducing it to 3.5 percent. The bank could make as many as three more cuts still this year in an attempt to revive the country’s feeble economy, bank officials said.
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GLOBAL ECONOMY BOUNCING BACK?
The world’s economy is showing signs of resilience, despite high interest rates and nations still struggling to recover their momentum, according to The Wall Street Journal.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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MORE HOUSEHOLDS NOW STRUGGLING
Old news to Trends Journal subscribers, but now it’s finally making the mainstream media... U.S. consumers are being squeezed harder between high interest rates, heavy debts, and depleted savings…