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News from World

tag: default

Leather-1-696x464.jpg 22 July 2022

Pakistan is approaching insolvency, while exports and remittances in connection with Italy become a lifeline

@FT reports Pakistan's worsening economic situation "Pakistan's rupee collapses rapidly as fears of default intensify." [Pakistan's rupee falls fast as default fears intensify – FT]. A light in the dark: " Exports to Italy and remittances to Pakistan has crossed $2b, mainly in the sectors of food processing, chemicals, construction and leather, recording the highest annual growth ever" [Times Pakistan’s earns $2b from Italy in exports and remittances in FY22 – Daily Times]

 

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E55GFFNCHBPQXCOFN4WRQMET4I.jpg 22 April 2022

The Russian financial crisis and creditors: an unprecedented situation

Reuters deals with the economic aspect with an analysis: while Russia faces a potential default, investors evaluate legal options. 30-day grace on $649 mln debt payments due April 4. U.S. Treasury banned use of frozen funds for debt payments. Moscow says Western sanctions blocked US$ payment. Litigation can be costly, lengthy. [Analysis: As Russia faces potential default, investors weigh legal options – Reuters]

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