Latest Sovereign debt News

In this May 19, 2020, photo, Senate Majority Leader Mitch McConnell of Ky., speaks with reporters after meeting with Senate Republicans at their weekly luncheon on Capitol Hill in Washington. Congress is at a crossroads in the Covid-19 crisis. Lawmakers are wrestling over whether to “go big” as House Speaker Nancy Pelosi wants for the next relief bill or hit “pause” as McConnell insists. (AP Photo/Patrick Semansky)

McConnell discusses prospects for another round of relief

May. 26, 2020 3:23 PM EDT

Faced with a collapsed job market, Congress needs to tend to unemployment insurance funds supporting millions thrown out of work, but surging debt means there are limits to the scope of federal aid to help heal the coronavirus -damaged economy, the Senate's top leader said Tuesday. In his first public appearances...

German Chancellor Angela Merkel speaks during a press conference following a joint video conference with French President Macron in Berlin, Germany, Monday, May 18, 2020. One topic was the Corona Pandemic and its consequences. (Kay Nietfeld/dpa via AP)

Germany breaks taboo in effort to get EU through pandemic

May. 19, 2020 12:13 PM EDT

FRANKFURT, Germany (AP) — Germany’s agreement to share debt with other EU countries to finance an economic recovery plan is being greeted as a political breakththrough and an overdue sign of unity in the face of the worst downturn the bloc has ever seen. Chancellor Angela Merkel broke with her...

In this Friday, May 8, 2020 photo, people look out at the Burj Khalifa, the world's tallest building, at sunset in Dubai, United Arab Emirates. Dubai built a city on the promise of globalization, creating itself as a vital hub for the free movement of trade, people and money worldwide. Now, with events cancelled, flights grounded and investment halted, this sheikhdom in the UAE faces both the threat of the coronavirus and a growing economic crisis. (AP Photo/Jon Gambrell)

Built for a global economy, Dubai now threatened by virus

May. 13, 2020 1:10 PM EDT

DUBAI, United Arab Emirates (AP) — Dubai built a city of skyscrapers and artificial archipelagos on the promise of globalization, creating itself as a vital hub for the free movement of trade, people and money worldwide — all things that have been disrupted by the coronavirus pandemic. Now, with...

This Sept. 18, 2019 photo shows the U.S. Treasury Department building viewed from the Washington Monument in Washington. The Treasury Department says it will need to borrow a record $2.99 trillion during the current April-June quarter to cover the cost of various rescue efforts dealing with the coronavirus pandemic. Treasury said Monday, May 4, 2020 that the $2.99 trillion it plans to borrow this quarter will far surpass the $530 billion quarterly borrowing it did in the July-September 2008 quarter as it dealt with the 2008 financial crisis. The extraordinary sum of $2.99 trillion of borrowing in a single quarter dwarfs the $1.28 trillion the government borrowed in the bond market for all of 2019. (AP Photo/Patrick Semansky)

As US piles up debt to aid economy, even usual critics cheer

May. 5, 2020 2:05 PM EDT

WASHINGTON (AP) — The U.S. government has opened the spigots and let loose nearly $3 trillion to try to rescue the economy from the coronavirus outbreak — a river of debt that would have been unthinkable even a few months ago. And yet the response, even from people who built careers as skeptics of...

A Lebanese army soldier throws a tear gas canister towards anti-government protesters in the northern city of Tripoli, Lebanon, Tuesday, April 28, 2020. Hundreds took part in the funeral of a young man killed in riots overnight in Tripoli that were triggered by the crash of Lebanon's national currency that sent food prices soaring. (AP Photo/Bilal Hussein)

Lebanese PM says Cabinet will seek IMF financial assistance

Apr. 30, 2020 3:17 PM EDT

BEIRUT (AP) — Lebanon will seek a rescue deal from the International Monetary Fund after the government endorsed a five-year recovery plan to help the nation find a away out of an unprecedented financial crisis, the country's prime minister said Thursday. Hassan Diab described the plan, which was adopted...

FILE - In this May 30, 2017, file photo, a Standard Gauge Railway cargo train rides from the port container depot on a Chinese-backed railway costing nearly $3.3 billion, opened by Kenya's president as one of the country's largest infrastructure projects since independence, in Mombasa, Kenya. African leaders in 2020 are asking what China can do for them as the coronavirus pandemic threatens to destroy economies across a continent where Beijing is both the top trading partner and top lender. (AP Photo/Khalil Senosi, File)

China silent amid global calls to give Africa debt relief

Apr. 29, 2020 1:19 AM EDT

KAMPALA, Uganda (AP) — African leaders are asking what China can do for them as the coronavirus pandemic threatens to destroy economies and wipe out some 20 million jobs across a continent where Beijing is both the top trading partner and top lender. The World Bank and the International Monetary Fund have...

President Donald Trump signs a coronavirus aid package to direct funds to small businesses, hospitals, and testing, in the Oval Office of the White House, Friday, April 24, 2020, in Washington. Sen. Roy Blunt, R-Mo., left, and Jovita Carranza, administrator of the Small Business Administration look on. (AP Photo/Evan Vucci)

Coronavirus relief pushing US deficits to staggering heights

Apr. 24, 2020 7:03 PM EDT

WASHINGTON (AP) — Spend what it takes, Washington said as it confronted the coronavirus. Well over $2 trillion later, it’s unclear where that spending will end. One of the lasting legacies of the coronavirus pandemic will be staggering debts and deficits on the U.S. balance sheet, with shortfalls...

A food delivery rider passes by a banner reading ' Stronger together, all together we will make it ',  in Milan, Italy, Sunday, April 5, 2020. The government is demanding Italians stay home and not take the leveling off of new coronavirus infections as a sign the emergency is over, following evidence that more and more Italians are relaxing restrictions the west’s first and most extreme nationwide lockdown and production shutdown. (Claudio Furlan/LaPresse via AP)

Cracks in Europe's shared currency reappear in virus crisis

Apr. 6, 2020 12:56 PM EDT

FRANKFURT, Germany (AP) — The virus outbreak is exposing cracks in the foundation of Europe's 21-year-old shared currency and festering animosities among its members, even as governments struggle to come up with a unified response where success or failure could mark the continent's politics for years to...

In this March 27, 2020, photo, House Speaker Nancy Pelosi of Calif., walks to her office after signing the Coronavirus Aid, Relief, and Economic Security (CARES) Act on Capitol Hill in Washington. President Donald Trump wants to spend $2 trillion on infrastructure projects to create jobs and help the collapsing economy rebuild from the coronavirus' stunning blows. Pelosi says that seems about right. Sounds like the prelude to a bipartisan deal. Except that when it comes to trying to upgrade the country's road, rail, water and broadband systems, Washington frequently veers off the tracks — usually over the bill's contents and how to pay for it. (AP Photo/Andrew Harnik)

Record jobless claims but Dems, GOP divide over rescue bill

Apr. 2, 2020 6:42 PM EDT

WASHINGTON (AP) — Fresh data on Thursday that detailed a record avalanche of unemployment claims offered no signs of easing the rift between Democrats and Republicans over the need for new legislation financing infrastructure and other job-creation programs. With the coronavirus barreling across the...