Latest Sovereign debt News

As Lebanon leaders talk austerity, protesters cry 'thieves!'

May. 10, 2019 12:09 PM EDT

BEIRUT (AP) — Dozens of Lebanese military and security veterans burned tires and shouted angrily outside government offices on Friday, their second protest in less than two weeks amid fears a proposed austerity budget may affect their pensions and benefits. The protesters gathered in downtown Beirut as...

Lebanon's Central Bank workers suspend strike for 3 days

May. 7, 2019 11:35 AM EDT

BEIRUT (AP) — Employees at the Central Bank of Lebanon on Tuesday suspended their open-ended strike for three days, saying they hope their wages and benefits will not be cut. The strike began Friday and raised concerns it could paralyze the country's banking sector, which relies on the Central Bank for...

Lebanon stock trading suspended over central bank strike

May. 6, 2019 10:14 AM EDT

BEIRUT (AP) — The Beirut Stock Exchange suspended trading on Monday due to an open-ended strike declared by the employees of Lebanon's central bank, adding to the country's economic crisis as the government discusses an austerity budget to avoid an economic crash. The ongoing strike by the Central Bank of...

Greek 2018 primary budget surplus exceeds forecasts, at 4.4%

Apr. 23, 2019 8:15 AM EDT

ATHENS, Greece (AP) — Greece's budget performance in 2018 was better than expected following some revenue-boosting measures by the government. According to the country's statistical agency, Greece recorded a primary budget surplus, which excludes the cost of servicing the country's vast public debt, of...

Lebanon's PM vows strict austerity reforms to avoid crash

Apr. 17, 2019 11:55 AM EDT

BEIRUT (AP) — Prime Minister Saad Hariri warned Wednesday that Lebanon is heading toward an economic "catastrophe" unless the government implements strict austerity measures to reduce a ballooning budget deficit and massive national debt. The stark warning came shortly after parliament passed amendments...

Malaysia revives China-backed rail link, cost cut by a third

Apr. 12, 2019 5:17 AM EDT

KUALA LUMPUR, Malaysia (AP) — Malaysia's government said Friday it has decided to resume a China-backed rail link project, after the Chinese contractor agreed to cut the construction cost by one-third. The deal follows months of vacillating over the East Coast Rail Link, which connects Malaysia's west...

Greece's bailout lenders approve big debt relief payout

Apr. 5, 2019 8:35 AM EDT

ATHENS, Greece (AP) — Greece's bailout creditors on Friday backed a payout worth more than $1 billion as part of a debt-relief package that is contingent on the government enacting a series of reforms. Mario Centeno, who heads the grouping of the eurozone's 19 finance ministers, told reporters after a...

Greece expected to miss its growth targets

Apr. 1, 2019 8:43 AM EDT

ATHENS, Greece (AP) — The Bank of Greece warned Monday that the country is likely to miss its 2019 growth target due to mounting international uncertainty and doubts over the government's commitment to reforms. Central bank governor Yannis Stournaras, presenting the bank's annual report , said the Greek...

House Democrats likely to punt on budget

Mar. 27, 2019 4:17 PM EDT

WASHINGTON (AP) — House Democratic leaders appear likely to give up on passing a budget this year rather than trying to bridge divisions between progressives seeking more money for domestic programs and more moderate members in swing districts who fear being attacked on tax hikes. Budget Committee Chairman...

China to give $989 million to build new highway in Sri Lanka

Mar. 22, 2019 2:10 PM EDT

COLOMBO, Sri Lanka (AP) — China has agreed to provide a loan of $989 million to Sri Lanka to build an expressway that will connect the island nation's tea-growing central region to a China-run seaport on the southern coast, the island's finance ministry said Friday. The Export-Import Bank of China has...