Latest Government debt News

EXPLAINER: What's the impact of a Russian debt default?

Jun. 27, 2022 18:32 PM EDT

LONDON (AP) — Russia has defaulted on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. Moscow owed $100 million in...

EXPLAINER: What's the impact of a Russian debt default?

Jun. 26, 2022 17:18 PM EDT

Russia is poised to default on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. The country faces a Sunday night deadline to meet a 30-day...

Settlement would forgive $6B for defrauded college students

Jun. 23, 2022 16:37 PM EDT

The Biden administration has agreed to cancel $6 billion in student loans for about 200,000 former students who say they were defrauded by their colleges, according to a proposed settlement in a Trump-era lawsuit. The agreement filed Wednesday in San Francisco federal court would...

EXPLAINER: Why Sri Lanka's economy collapsed and what's next

Jun. 23, 2022 14:01 PM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister says the island nation’s debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel. Short of cash to pay for imports of such necessities and already defaulting on its debt, it is seeking help from neighboring...

EXPLAINER: Just how high is the risk of another recession?

Jun. 15, 2022 16:54 PM EDT

WASHINGTON (AP) — Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve has just made borrowing even costlier. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years...

This is how a higher Fed rate could affect your finances

Jun. 15, 2022 16:46 PM EDT

WASHINGTON (AP) — Record-low mortgages are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally see a noticeable return. The unusually large t hree-quarter point hike in its benchmark short-term rate that the Federal Reserve announced...

European Central Bank vows backstop against market turmoil

Jun. 15, 2022 09:54 AM EDT

A European Central Bank poised to raise interest rates for the first time in 11 years vowed Wednesday to create an unspecified market backstop that could buffer member countries against financial turmoil like that seen during a debt crisis more than a decade ago. Pressed by a...

Treasury bond yield inversion raises worries over recession

Jun. 14, 2022 16:53 PM EDT

NEW YORK (AP) — One of the more reliable warning signals for an economic recession started blinking again. The “yield curve” is watched for clues on how the bond market feels about the long-term outlook for the U.S. economy. On Tuesday, a closely followed part of the yield...

Polish leader faces questions about timing of bond purchase

Jun. 08, 2022 09:43 AM EDT

WARSAW, Poland (AP) — Poland's prime minister faced questions Wednesday over his purchase of 4.6 million zlotys (over $1 million) in Polish treasury bonds, amid suspicions he made an investment that traditionally offers protection against inflation at a time when authorities were officially...

Asian markets mixed after Wall St bond sell-off

Jun. 07, 2022 00:51 AM EDT

BEIJING (AP) — Asian stock markets were mixed Tuesday following a bond sell-off on Wall Street amid anxiety about higher U.S. interest rates. Shanghai and Tokyo advanced while Hong Kong and Seoul declined. The yen, already trading at two-decade lows, fell further to below 132 to...