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France urges debt freeze for poor countries hit by pandemic

Agence France-Presse
Posted at Apr 02 10:15 PM

French Finance Minister Bruno Le Maire on Thursday called for a $500-billion war chest and a debt moratorium for developing countries, especially in Africa, to help them cope with the coronavirus crisis. Read more »

COVID-19 cases and deaths rising, debt relief needed for poorest nations: WHO

Stephanie Nebehay and Kate Kelland, Reuters
Posted at Apr 02 07:26 AM

The head of the World Health Organization voiced deep concern on Wednesday about the rapid escalation and global spread of COVID-19 cases from the new coronavirus, which has now reached 205 countries and territories. Read more »

Philippines COVID-19 stimulus gets boost from Bangko Sentral, Treasury

ABS-CBN News
Posted at Mar 26 04:09 PM

The Bangko Sentral ng Pilipinas said it would remit in advance P20 billion to the national government while the Treasury announced a P30-billion treasury bond sale, as state agencies moved to fund a coronavirus stimulus. Read more »

Philippines has economic 'firepower' to fight coronavirus, says IMF

ABS-CBN News
Updated as of Mar 26 11:31 AM

The Philippines has the economic "firepower" to fight the coronavirus pandemic and can draw from the International Monetary Fund's emergency financing, the Washington-based lender said Thursday. Read more »

Ateneo economists bat for 'social protection' to dampen COVID-19 impact

ABS-CBN News
Posted at Mar 23 10:48 PM

Among their recommendations is doubling the unconditional cash transfers from P36.5 billion to P73 billion to provide support for the poor.  Read more »

Bankers and lawyers prepare for spate of company rescues as coronavirus bites

Abhinav Ramnarayan and Karin Strohecker, Reuters
Posted at Mar 17 10:47 PM

Law firms and banks are scrambling to retrain senior staff in restructuring so they can help dozens of companies looking to raise emergency funds and rearrange debts as the coronavirus pandemic eats into corporate cash. Read more »

Bangko Sentral readies interest rate cut to fight COVID-19 contagion on economy

ABS-CBN News
Posted at Mar 16 09:25 AM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday he would cut the benchmark borrowing rate by 25 basis points or higher later later this week to fight the economic fallout of the coronavirus disease epidemic. Read more »

Bangko Sentral 'advises' banks to give debt relief as part of COVID-19 response

ABS-CBN News
Updated as of Mar 16 09:15 AM

MANILA -- Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday the central bank "advised" lenders to give debt relief to borrowers to help them cope with the coronavirus disease outbreak. Read more »

Dissecting Data: PH gov't debt hits record P7.7-trillion

ABS-CBN News
Posted at Mar 13 01:59 AM

Governments around the world are working and spending to mitigate the health and economic impact of the COVID-19 pandemic. But does the Philippines have enough spending power right now to deal with the virus? Read more »

Pamamahiya, pananakot sa mga may utang, nais ipagbawal sa panukalang batas

ABS-CBN News
Updated as of Feb 29 12:17 PM

MANILA - Sa paniningil ng utang, bawal dapat ang pananakot at pagpapahiya. Read more »

How to keep your friends and your money

Aneth Ng-Lim
Posted at Feb 03 07:58 AM

There's an old saying that friendship and money are like oil and water, meaning they don’t mix. There is wisdom in these words, but I would suggest you take it as a warning on how to handle relationships, not stay away from them altogether.   Read more »

How to get rid of personal debt

ABS-CBN News
Updated as of Dec 29 07:11 AM

A financial advisor reminds the public the cycle of borrowing can be overcome.    Read more »

Massive debt wave could crash on developing countries, World Bank warns

Heather Scott, Agence France-Presse
Posted at Dec 20 09:08 AM

The World Bank and International Monetary Fund have been sounding the warning about growing global debt for years, but the latest report is even more stark and turned up the volume on its calls for governments to take steps to prevent a debt crisis. Read more »

Massive debt wave could crash on developing countries, World Bank warns

Heather Scott, Agence France-Presse
Posted at Dec 20 03:51 AM

A wave of debt in emerging and developing nations has grown faster and larger than in any period of the last five decades and could end with another crisis, the World Bank warned Thursday.   Read more »

Canada predicts slower growth, deficit to climb in 2020

Agence France-Presse
Posted at Dec 17 07:03 AM

Canada's finance minister predicted on Monday that growth will come in at 1.6 percent in 2020, the best of any G7 country besides the United States, but the deficit will also increase.  Read more »

New money-saving credit card hacks that work

Moneymax.ph
Posted at Nov 27 06:07 PM

A credit card can either save you money or burden you with a large debt if you don’t manage your purchases.  Read more »

Pay debt or save? What to do first with your holiday bonus

Aneth Ng-Lim
Posted at Nov 26 08:57 AM

Bonuses are a welcome relief when you have been living from paycheck to paycheck but that breather will last longer if you pay down your debts and have a wallet-responsible holiday season. Read more »

How bad is China's debt? A city hospital is asking nurses for loans

Alexandra Stevenson and Cao Li, The New York Times
Posted at Nov 11 01:16 PM

Ruzhou, a city of 1 million people in central China, urgently needed a new hospital, their bosses said. To pay for it, administrators were asking health care workers for loans. If employees didn’t have the money, they were pointed to banks where they could borrow it and then turn it over to the hospital. Read more »

Global debt reaches record-high $188 trillion: IMF

Kyodo News
Posted at Nov 08 03:51 AM

Global debt has reached a record high $188 trillion, or about 230 percent of the world's economic output, International Monetary Fund chief Kristalina Georgieva said Thursday, while warning of the risks such debt poses to financial stability.   Read more »

PH debt rises to P7.9-T in September, up 10.4 pct from last year

ABS-CBN News
Updated as of Nov 04 04:51 PM

The national government's debt reached P7.9 trillion at the end of September, which was 10.4 percent higher compared to the same month last year, the Bureau of Treasury (BTr) said on Monday.  Read more »