Latest Sovereign debt News

Powell urges Congress to tackle growing budget deficit

Nov. 14, 2019 3:23 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell on Thursday urged Congress to tackle the growing budget deficit but also underscored the current health of the nation’s economy. Powell’s testimony before the House Budget Committee came a day after he told Congress’ Joint...

US budget deficit surges to $134.5 billion in October

Nov. 13, 2019 5:10 PM EST

WASHINGTON (AP) — The federal government, which ended the 2019 budget year with its largest deficit in seven years, began the new budget year with a deficit in October that was 33.8% bigger than a year ago as spending hit a record. The Treasury Department said Wednesday that the deficit last month totaled...

Sanford suspends GOP presidential primary challenge to Trump

Nov. 12, 2019 3:12 PM EST

CONCORD, N.H. (AP) — Mark Sanford dropped his challenge to President Donald Trump for the Republican presidential nomination on Tuesday, saying the focus on impeachment has made it difficult for his campaign to gain traction. "You've got to be a realist," Sanford said outside the New Hampshire statehouse....

Tick tock, in hock: National debt clock looms over Atlanta

Nov. 7, 2019 1:34 PM EST

ATLANTA (AP) — A nonpartisan organization has placed a national debt clock in downtown Atlanta, right on time for a Democratic presidential debate coming to the city in two weeks. The Atlanta Journal-Constitution reports New York-based Peter G. Peterson Foundation placed the billboard on Ted Turner Drive...

Paralyzed by protests, Lebanon's fiscal crisis worsens

Oct. 30, 2019 3:11 PM EDT

BEIRUT (AP) — Lebanese banks have been closed for the last two weeks as the government grapples with mass demonstrations that have paralyzed the country, but an even greater crisis may set in when they reopen Friday. There are concerns the government may not have enough foreign reserves to defend its...

US deficit hits nearly $1 trillion. When will it matter?

Oct. 25, 2019 7:08 PM EDT

WASHINGTON (AP) — The Trump administration reported a river of red ink Friday. The federal deficit for the 2019 budget year surged 26% from 2018 to $984.4 billion — its highest point in seven years. The gap is widely expected to top $1 trillion in the current budget year and likely remain there for...

As China builds up Africa, some in Uganda warn of trouble

Oct. 24, 2019 5:16 AM EDT

KAMPALA, Uganda (AP) — China's assertive, large-scale investments in Africa are starting to find pushback in Uganda, where some critics worry the East African nation is using oil it hasn't even begun to produce to borrow hundreds of millions of dollars for infrastructure projects. Longtime President Yoweri...

In historic sale, Greek debt carries negative interest rate

Oct. 9, 2019 2:50 PM EDT

ATHENS, Greece (AP) — More than a year after Greece exited its bailout programs, investors made history in the country Wednesday by buying its short-term debt at a negative yield, meaning they volunteered at least in theory to get less money back than they paid. Greece's debt management agency said it...

Budget office estimates US deficit just under $1 trillion

Oct. 7, 2019 6:58 PM EDT

WASHINGTON (AP) — The government ran a budget deficit of just under $1 trillion in the just-closed fiscal year, the Congressional Budget Office said Monday. The $984 billion deficit tally for 2019 came in more than $200 billion more than last year's, despite very low unemployment and continuing economic...

Sanford takes his first 2020 campaign trip to New Hampshire

Sep. 19, 2019 8:35 PM EDT

MANCHESTER, N.H. (AP) — Mark Sanford's first presidential campaign stop in New Hampshire began with an interruption in the hopes of being heard. Sanford, the former South Carolina governor and congressman, entered a Manchester diner and found his way to an AARP meeting in the back. "Can I be rude?" he...