The ratings agency has warned that more defaults "are likely" as Moscow faces unprecedented Western sanctions that have increasingly isolated the country from the global financial system following its offensive in Ukraine.
President Bukele plans to build the world’s first ‘Bitcoin City’ using bitcoin-backed bonds, which will rely on betting big on the cryptocurrency’s future.
Any political instability is likely to worsen Tunisia’s economic woes, not lessen it.
The pandemic has temporarily derailed the African Continental Free Trade Area, one the continent's most exciting prospects.
In the past couple of years, Moscow reduced foriegn debt and saved money to fight any eventuality. But it will need much more to fight its economic woes.
Americans stare at a future full of obstacles as unemployment exceeds 16 percent and household debt crosses the $14 trillion mark.
United Nations Conference on Trade and Development says developing world needs debt write-off to overcome Covid-19 fallouts since they are already struggling with a rapidly growing debt burden.
In a matter of days, African leaders have made multiple appeals for financial aid to combat the impact of the Covid-19 pandemic.
Poor countries are saddled with billions in loans from rich countries, and the coronavirus threatens to trap them in a vicious cycle of debt.
With a debt load of about $10.5 billion and the possibility of an impending cash shortfall, Wall Street expects the luxury electric carmaker to need to raise funds before long.
The announcement came after a week of protests against the new income tax bill brought about by IMF-demanded austerity measures.
New reforms, including restrictions on the right to strike, are set to be approved as the country hopes to get more bailout funding.
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