Latest Sovereign debt News

Congressional Budget Office says inflation to last into 2023

May. 25, 2022 18:16 PM EDT

WASHINGTON (AP) — The Congressional Budget Office released an economic outlook Wednesday saying high inflation will persist into next year, likely causing the federal government to pay higher interest rates on its debt. The nonpartisan agency expects the consumer price index to...

US to end Russia's ability to pay international investors

May. 25, 2022 02:38 AM EDT

WASHINGTON (AP) — The U.S. will close the last avenue for Russia to pay its billions in debt back to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable. The Treasury Department said in a...

EU to keep budget rules looser for longer amid war fallout

May. 23, 2022 11:19 AM EDT

BRUSSELS (AP) — The European Union has moved to prolong looser limits on spending by member countries for an extra year in a bid to counter the economic fallout from Russia’s war in Ukraine. The European Commission recommended on Monday suspending the EU’s regular rules on...

Sri Lankan power family falls from grace as economy tanks

May. 13, 2022 05:32 AM EDT

NEW DELHI (AP) — With one brother president, another prime minister and three more family members cabinet ministers, it appeared that the Rajapaksa clan had consolidated its grip on power in Sri Lanka after decades in and out of government. But as a national debt crisis spirals out...

Biden showcases deficit progress in bid to counter critics

May. 04, 2022 14:02 PM EDT

WASHINGTON (AP) — President Joe Biden on Wednesday highlighted new figures showing the government's red ink will grow less than expected this year and the national debt will shrink this quarter as he tried to counter criticism of his economic leadership amid growing dismay over inflation going...

EXPLAINER: What's the latest in Russia's dance with default?

May. 03, 2022 19:49 PM EDT

Russia appeared to dodge default on its foreign debt by dipping into its scarce dollar reserves. But Moscow's debt drama is far from over. Russia's finance ministry abandoned its proposal to use rubles instead of dollars to make overdue payments on two government bonds, saying...

Activists keep up pressure as Biden weighs student debt move

Apr. 30, 2022 08:12 AM EDT

WASHINGTON (AP) — For student loan activists, the week began with hope as President Joe Biden gave his clearest indication that he was considering canceling federal debt rather than simply allowing borrowers to defer payments during the pandemic. But that soon gave way to...

Wisconsin Democrats aim to beat Sen. Ron Johnson, but how?

Apr. 17, 2022 12:47 PM EDT

CAMBRIDGE, Wis. (AP) — Among the red barns, bins and tractors of a southern Wisconsin dairy farm, Democratic U.S. Senate candidate Mandela Barnes sat at a white picnic table painted with black spots to resemble a dairy cow. It was the latest stop on his “Barnes for Barns" tour...

Russia to pay bonds in rubles, which may cause default

Apr. 06, 2022 16:26 PM EDT

NEW YORK (AP) — Russia said Wednesday that it made a debt payment in rubles this week, a move that may not be accepted by Russia’s foreign debt holders and could put the country on a path to an historic default. The Ministry of Finance said in a statement that it tried to make a...

Biden's budget plan: Higher taxes on rich, lower deficits

Mar. 28, 2022 18:36 PM EDT

WASHINGTON (AP) — President Joe Biden announced a budget blueprint Monday that calls for higher taxes on the wealthy, lower federal deficits, more money for police and greater funding for education, public health and housing. Appearing at the White House with his budget director...