Latest Sovereign debt News

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...

Illinois Democrats' plan seeks to divest from Russian debt

Mar. 21, 2022 16:20 PM EDT

SPRINGFIELD, Ill. (AP) — Illinois Gov. J.B. Pritzker and fellow Democrats who lead the General Assembly have pledged to push legislation to penalize Russia over its invasion of Ukraine. A House Democrat last week introduced a plan to divest from Russian debt, welcome Ukrainian...

Russia built an economy like a fortress but the pain is real

Mar. 10, 2022 06:49 AM EST

Western sanctions are dealing a severe blow to Russia's economy. The ruble is plunging, foreign businesses are fleeing and sharply higher prices are in the offing. Familiar products may disappear from stores, and middle-class achievements like foreign vacations are in doubt. Beyond...

Connecticut divests pension funds from Russian-owned assets

Mar. 01, 2022 15:56 PM EST

HARTFORD, Conn. (AP) — More than $218 million worth of Connecticut state pension fund investments will be divested from Russian-owned assets in response to Russia's invasion of Ukraine, state Treasurer Shawn Wooden said Tuesday. Wooden joins officials in many other U.S. states who...