Zimbabwe: IMF to Review Debt as Payments Fall Behind Oct 20, 2009
Some quarters in the inclusive government are pushing for debt relief under the Heavily Indebted Poor Countries initiative (HIPC) but analysts say without a proper planning on loan contraction even with debt forgiveness, the country can still find itself hamstrung by debt ... A precondition for HIPC debt relief is that the country should be classified as an IDA-only country ... For Zimbabwe, this means it must be reclassified as a low-income country and therefore also as an IDA-only country... (allAfrica.com)
Debt relief organizations face Attorney General lawsuits Oct 20, 2009
Two debt relief organizations face lawsuits from attorney general - Tampa Bay Business Journal ... Two debt relief organizations face lawsuits from attorney general. (Tampa Bay Business Journal, FL)
Investment in Africa Oct 19, 2009
It provided concessional aid, debt relief and other economic support. Also used military aid and promoted softer ties in education, science, culture and health. (Suite101.com)
Faith calendar Oct 17, 2009
WOMEN'S CONFERENCE: 9 a.m. today, 11:30 a.m. Sunday, Trust And Obey Outreach, Hephzibah; with Brenda Strong, Stephanie Jackson, Victoria Burt, Bobbie Rogers (today), discussing women's health issues, debt relief; Catherine Young (Sunday); $15; (706) 796-0802. MEN'S AND WOMEN'S DAY: 11 a.m. Sunday, North Augusta Baptist, North Augusta; with Dr. Gollie Walker. (The Augusta Chronicle)
Zimbabwe: MDC-T Boycotts GNU Over Bennett Oct 17, 2009
"This action - taken just prior to very important donor discussions on Zimbabwe, together with other negative developments recently, such as the implied threats against independent media practitioners and the intense attacks on Finance minister Tendai Biti in his efforts to pave the way for continued macroeconomic reforms and debt relief- does not facilitate the on-going dialogue to normalise relations with Zimbabwe," Rylander said. The US embassy acting public affairs officer Andrew Posner said... (allAfrica.com)
New task for the Wilmington town clerk Oct 16, 2009
The action occurred after selectmen objected to language in the document that stated the United States has yet to live up to many of its trade guarantees, provides substantially less foreign aid as a percentage of Gross National Income than its Western European peers, and must act swiftly to perpetuate the international commitment to debt relief. Just on principal, I don t want to sign anything that has this written, said Newhouse. (Wilmington Advocate, MA)
Topix Index Declines, Led by Banks, Japan Airlines; Inpex Advances on Oil Oct 16, 2009
Last month the government rejected the carriers turnaround plan, while the Nikkei reported the company is now seeking debt relief from creditors including banks. The future of JAL is uncertain and so investors are selling, said , a section manager at Takagi Securities in Tokyo. (Bloomberg -- Japan)
Asian stocks rally on bank results Oct 15, 2009
Japan's Financial Services Minister Shizuka Kamei said yesterday a plan to provide debt relief to small borrowers will be covered by government guarantees against default, the Nikkei newspaper said, lessening the burden on the nation's lenders. Confidence survey. (Sydney Morning Herald -- Business)
Stocks Decline, Led by Financial Shares on Concern of Loan-Related Losses Oct 14, 2009
2 percent after the Nikkei newspaper said Japan Airlines Corp. may seek debt relief of 300 billion yen ($3. 36 billion). (Bloomberg -- Japan)
Congo president grounds ministers after foreign trip 'inflation' Oct 10, 2009
The AFP news agency reports that Congo is trying to qualify for debt relief from donors and says the travel ban could be intended to prove that the government is trying to cut costs. Bookmark with. (BBC News -- Africa)
Bankruptcy judge approves Sun-Times sale for $5M Oct 9, 2009
Debt relief through Chapter 7 or 13 bankruptcy. Free consultation. (Yahoo News -- Technology)
Some IRS Balm for Short Sales of Homes Oct 8, 2009
The Mortgage Forgiveness Debt Relief Act of 2007 includes a provision that allows homesellers like Sela to exclude as much as $2,000,000 of canceled debt. Sela excludes (sidesteps) taxes only if she satisfies two stipulations. (RealtyTimes)
Zimbabwe: U.S. $5.7 Billion Debt Splits Cabinet Oct 4, 2009
Biti is proposing that Zimbabwe should adopt HIPC because it has some advantages which could reduce the country s debt burden by 90% after full delivery of debt relief ... Biti argues debt relief would reduce constraints on economic growth and poverty reduction imposed by the debt-servicing burden ... Those opposed to the debt relief strategy must come up with an alternative. (allAfrica.com)
Africa's debt levels not a concern- IMF official Oct 4, 2009
It is important for Zimbabwe to get debt relief, Sayeh said. "There is some discussion about potentially clearing just one set of the arrears," she said. (Business Report, South Africa)
Transcript of a Press Conference by International Monetary Fund Managing Director Dominique Strauss-Kahn with First Deputy Managing Director John Lipsky and External Relations Director Caroline Atkinson Oct 3, 2009
For Liberia it has been done with debt relief one-and-a-half years ago, and for other countries it is now being done with a new kind of facility that we have created. Following the request by the G-20 in April, we have created a new facility, loan facility with a zero interest rate, which never happened in the past. (IMF News)
Altanta law firm is state bankruptcy behemoth Oct 3, 2009
Just outside the firm s main offices off I-85 near the Chamblee-Tucker Road exit in DeKalb County, a giant electronic billboard in flashing red letters beckons: DEBT RELIEF, It s not too late and Bankruptcy is an option. The firm, founded in 1983, has been a staple in telephone book directories since rules against legal advertising were relaxed. (Atlanta Journal-Constitution -- Business)
China, Africa ever closer 60 years on Oct 3, 2009
China-Africa Development Fund is in operation; debt relief is half way through; zero-tariff for 454 types of commodities are on the way; work on the Africa Union Center has started; the first trade and economic zone, malaria prevention and treatment center, and an agricultural demonstration center are all ready for work. Since 1980s, China has shifted its aid to Africa from simple relief through goods and cash, dubbed "blood transfusion", to development-oriented relief such as training,... (Xinhuanet, China)
New laws planned on repossession Oct 3, 2009
" An estimated 65,000 homes will be repossessed in the UK this year, according to the Council of Mortgage Lenders - up 25,000 on last year. Debt reliefThe Scottish legislation is intended to improve protection for home owners at each stage of the repossession process, with all cases now to be heard in court. Lenders will also have to show in court that they have taken reasonable steps to avoid repossession. The Scottish proposals follow the recommendations of a debt action forum which was set up... (BBC News -- Business)
Press Release: Statement at the Conclusion of an IMF Mission to the Central African Republic Oct 2, 2009
Debt relief of some US$741 million dollars in net present value (NPV) terms is expected to be delivered as agreements with creditors are reached. Multilateral creditors have already provided irrevocable debt relief amounting to US$525 million in NPV terms. (IMF News)
Are investors missing out on sub-Sahara Africa? Sep 30, 2009
Debt relief has markedly improved Africa's credit worthiness. Monetary policies have pushed inflation down from the 19 percent average of the 1980s, to 7 to 8 percent today. (Christian Science Monitor)
Africa still needs aid -Kufuor Sep 30, 2009
It provides debt relief and low-interest loans in return for which countries have to bring inflation under control and get their state finances in order ... "It was thanks to the debt relief that we were able to get a market economy off the ground. Consequently, credit rating agencies like Standardand Fitch raised our rating. We were able to raise 750 million dollars in government bonds on the international market, which allowed us to invest in health care and the infrastructure.". (Ghana Web, Ghana)
Boisterous protesters at G-20 summit Sep 26, 2009
But there also was a strong contingent of anti-war protesters and those interested in such diverse issues as African debt relief, rejection of corporate subsidies and more humane child-labor laws. "We want money for jobs, not war, money to clean up the environment," said Pete Shell, a protest organizer. (MSNBC -- Crime)
For recession victims, there’s some help available to cut your income tax bill Sep 26, 2009
However, the housing crisis led to the passage of the Mortgage Forgiveness Debt Relief Act. Up to $2 million of forgiven debt is eligible for this exclusion on a principal residence. (Boston Globe)
Coles school officials hear about sales tax Sep 26, 2009
Mattoon school board member Bill Standerfer asked about voters concerns regarding what the school districts will do with the sales tax revenue earmarked for facility projects or debt relief for past projects once these tasks are completed. Green said the unused sales tax revenue could be switched over to property tax relief, and Charleston financial consultant David Kuetemeyer added that other facility maintenance projects would come up over the years that would need funding. (Mattoon Journal-Gazette, IL)
Rawlings' Address At African House Sep 25, 2009
Africa needs external support in the form of financing, debt relief and revision of protectionist measures in developed countries. At the same time, some of us need to clean up the misdeeds from the past (eight) years- misdeeds that appear to have taken on a life of their own. (Ghana Web, Ghana)
Rawlings calls for combined efforts to eradicate poverty Sep 25, 2009
" Former President Rawlings said Africa needed external support in the form of financing, debt relief and revision of protectionist measures in developed countries. On democracy in Africa, Former President Rawlings said he believed African culture and value systems had played a meaningful role in the past and must be allowed or helped to feature prominently in the democratic dispensation so that it can bridge the political divide where necessary, and provide the unifying force in mobilizing the... (Ghana Web, Ghana)
DEBT SETTLEMENT: A booming business now, but beware Sep 22, 2009
Dave Leuthold, vice president of The Association of Settlement Companies, says many consumers seeking debt relief have already seen their scores plummet. "Basically, what they're deciding by coming on to a debt-settlement program is that getting out of debt is more important than their credit score," he says. (USA Today -- Money)
Press Release: IMF Executive Board Approves US$21.5 Million PRGF Arrangement for the Union of the Comoros Sep 22, 2009
They will also ensure steadfast implementation of reforms, which is essential to securing HIPC and MDRI debt relief. The authorities are determined to stay the course with efforts to tackle structural impediments to growth. (IMF News)
Transcript of a Conference Call with a Senior IMF Official on the Executive Board’s Approval of Limited Gold Sales Sep 22, 2009
QUESTIONER: When the U.S. Congress authorized this, one of the conditions was that $4 billion at least of the proceeds go toward grants or debt relief to low income countries. President Obama, I guess, did a signing statement saying he wasn t bound by that. (IMF News)
AIG stabilized, US report says Sep 22, 2009
Representative Edolphus Towns of New York, chairman of the House Committee on Oversight and Government Reform, began considering debt relief after meeting last week with Maurice R. Greenberg, AIG s former CEO, according to a spokeswoman. Copyright 2009 Globe Newspaper Company. (Boston Globe)
Six steps to debt freedom Sep 22, 2009
Here are six simple steps to achieve short-term debt relief. Draw up a realistic monthly. (iAfrica.com)
How Unsecured Debt Relief Works Sep 19, 2009
Discover how to get unsecured debt relief today. Unsecured debt relief means that it is possible to settle medical bills, , small loans and repossession deficiencies ... Whilst a debt relief program does not usually help the debtor's FICO credit score, it is considerably better than a delinquent account that attracts unwelcome creditor contact. (Suite101.com)
Coffee Board seeks revised package Sep 19, 2009
BANGALORE: The Coffee Board has sent a proposal to the Union commerce ministry asking for a revised debt relief package for the sector ... Coffee Board proposed for a revised debt relief package for the sector. (India Times)
How Free Credit Card Debt Consolida... Sep 19, 2009
It is possible to get a session with a credit counselor for free in order to improve budgeting or identify the most appropriate debt relief program ... If financial difficulties cannot be addressed through improved financial management alone, debt relief programs will be discussed with the client ... Debt Relief Programs. (Suite101.com)
The Global Financial Crisis and Low-Income Countries -- Domestic and International Policy Responses, Remarks by Dominique Strauss-Kahn, Managing Director, International Monetary Fund at the Resources for the Future Sep 18, 2009
Helped by debt relief, they were finally reaping the rewards of difficult reforms ... In fact, we estimate that almost two-thirds of low-income countries are at low or moderate risk of debt distress this flows from better policies, and also from more aid and debt relief. (IMF News)
Bankruptcy lawyers on watch, brace for decision on debt relief provision Sep 15, 2009
Basically, bankruptcy lawyers want to be excluded from a provision that classifies and governs them as debt relief agencies. This article is for Paid Subscribers ONLY.. (Tampa Bay Business Journal, FL)
Bankruptcy lawyers await SCOTUS ruling Sep 15, 2009
Basically, bankruptcy lawyers want to be excluded from a provision that classifies and governs them as debt relief agencies ... Lawyers must also disclose in their advertisements that they are a debt relief agency. (South Florida Business Journal, FL)
Open Letter To President John Attah Mills Sep 14, 2009
Despite the substantial debt relief from Ghanas bilateral and multilateral partners, the previous government left behind a public debt of US$8,073. 3 million by the end of December 2008. (Ghana Web, Ghana)
American Indian leaders hope for resolution in lawsuit with USDA Sep 11, 2009
He said two issues they are currently seeking are a moratorium against foreclosures until the case is settled and a mechanism for debt relief. Sellars said he expects to be ready to request a trial date next month. (Bismarck Tribune, ND)
Blair's war and peace Sep 4, 2009
" While he's focusing on the future in the Middle East and the effects of a warming world, his political legacy in Britain and beyond while prime minister is still being discussed. Ten years after his first election victory in 1997, Blair left office with a list of achievements in domestic politics that at times seemed to be overshadowed by political spin. International initiatives he spearheaded, such as debt relief for the poorest developing nations, were eclipsed in the public consciousness... (CNN -- International)
Non-Profit Debt Counseling and Cred... Sep 4, 2009
Credit Counseling, Budgetary Analysis and a Debt Relief Programs ... Whilst the majority of providers work tirelessly to improve a client's financial position, others are only interested in selling debt relief programs ... Debt Relief Programs. (Suite101.com)
Ghana on track to halving poverty before 2015 Sep 4, 2009
It attributed the countrys resilience in the wake of increases in the world market price of crude oil to improve fiscal management, prudent monetary management, debt relief, a supportive international environment and structural reforms ... It also attributed its improvement to strong performance by the export sector, and growth in remittances, donor resources and the debt relief ... 79 million in 2006, as a result of a 66 percent debt reduction facility secured under the Multilateral Debt... (Ghana Web, Ghana)
Government undertaking reforms against external economic shocks Sep 3, 2009
3 per cent in 2008 on the back of a significantly expanded fiscal space, resulting from the Highly Indebted Poor Country (HIPC) Initiative and the Multi-donor Debt Relief Initiative (MDRI). He said the fiscal space enabled government to undertake major infrastructure investments and targeted social spending which made reductions in poverty levels and other social indicators. (Ghana Web, Ghana)
150 000 SA consumer under debt review by Xmas Sep 2, 2009
Even if the economy began a slow recovery, for at least 18 months there would be a rising number of consumers applying for debt relief. "There is a lag between the economy lifting and the personal circumstances of individuals improving," Andre Snyman, chief executive of debt counselling company Consumer Assist, said in a statement. (Business Report, South Africa)
Govt extends agri debt relief scheme Sep 1, 2009
MUMBAI: The government has extended the debt relief scheme for farmers with land holdings in excess of 5 acres by six months till December ... The government has extended the debt relief scheme for farmers with land holdings in excess of 5 acres by six months till December. (India Times)
Stop begging, Africa leaders told Aug 31, 2009
US President George W Bush insists that Africa must improve its governance and democratic accountability if it is to benefit from debt relief and more aid ... Trade and debt relief for Africa will be discussed by Western leaders at the G8 summit at Gleneagles, starting on Wednesday. (Yahoo News -- Libya)
Long fingers dilemma Aug 26, 2009
People applied for debt relief ... The number of people applying for debt relief to the regulator appointed in terms of the National Credit Act had also increased, with more than 9000 applications in June this year. (iAfrica.com)
Protect Your Credit Score Aug 26, 2009
Debt relief can be a light at the end of a dark debt-laden tunnel. That financial breather will impact your credit score. (W-USA News, DC)
Public debt now US$7.841.3 million Aug 26, 2009
"Ghana's public debt stood at about US$8,073.3 million as at the end December, 2008 in spite of the substantial debt relief from both our multilateral and bilateral partners, he said. "As a result of prudence in management of loans, we have reduced the stock of debt to US$7,841. 3 million as at end June, 2009," he told Parliament during the presentation of a supplementary budget. The budget, intended to seek Parliamentary approval for more state funds to run the economy, reviews the performance... (Ghana Web, Ghana)
Those who lose homes may face state tax hit Aug 25, 2009
To prevent that in some cases, Congress passed the Mortgage Debt Relief Act of 2007. This law temporarily waived federal tax if debt on a primary residence is forgiven in a modification, foreclosure or short sale. (San Francisco Chronicle -- Business)
Filing Chapter 13 Bankruptcy Aug 23, 2009
All individuals seeking debt relief through bankruptcy must first go through bankruptcy credit counseling. Thereafter, a Chapter 13 bankruptcy is begun by filing a petition in the appropriate federal court, usually in the district where the debtor has lived for at least 180 days prior to filing. (Suite101.com)
Fed Says It Again: U.S. Economy on Rebound Aug 22, 2009
No. Debt relief of any kind. No. but you, I as well as all other tax payers are allowing to be spent huge retention and performance bonuses with our tax dollars in the financial sector when after their receipt of our stimulus money are still swimming in red ink. (CBS News)
Texas AG tries to recover from Debt Relief Aug 21, 2009
Abbott's office contends Debt Relief USA, which filed for Chapter 11 bankruptcy relief in June, took money from consumers who were in debt and promised to negotiate better terms with their creditors. As a result, more than 2,500 financially distressed consumers did not received the debt relief promised, Abbott said ... In a statement issued Thursday, Abbott alleges Debt Relief USA assessed an administration fee of about 8 percent of each customer's total debt, as well as monthly "maintenance... (Dallas Business Journal, TX)
Pressure grows to clipvulture funds' wings Aug 21, 2009
"Since 1996 donor countries - including the US - have committed $90 billion in bilateral and multilateral debt relief to over 30 countries. Vulture funds profit from this debt relief," Michael Stulman, associate director of policy and communications at Africa Action, told Inter Press Service (IPS) ... Jubilee is an alliance of 80 religious denominations and faith communities, development agencies and human-rights groups working for debt relief ... The judgment represented 60% of the debt relief... (Asia Times Online)
High school willnow keep, use surplus Aug 20, 2009
Gibson also said the county was aware that the system might seek debt relief for Babson Park Elementary once the school showed it could stand on its own two financial feet. We can t generate reserves. (Lake Wales News, FL)
Africa: 'Vulture Funds' Prey On Poor Debtor Nations Aug 20, 2009
"Since 1996 donor countries - including the U.S. - have committed 90 billion dollars in bilateral and multilateral debt relief to over 30 countries. VULTURE funds profit from this debt relief," Michael Stulman, associate director of policy and communications at Africa Action, told IPS. ... Jubilee is an alliance of 80 religious denominations and faith communities, development agencies, and human rights groups working for debt relief ... The judgment represented 60 percent of the debt relief... (allAfrica.com)
Credit Card Debt Consolidation and ... Aug 19, 2009
Credit Card Debt Consolidation and Debt Relief. Credit Card Debt Consolidation and Debt Relief ... There are options for debt relief besides the drastic action of filing bankruptcy. (Suite101.com)
Liberia: Secretary Clinton's Address to Liberian National Legislature Aug 18, 2009
Liberia has made progress on debt relief, and the economy continues to grow despite the global economic crisis. (Applause. (allAfrica.com)
Debtors File Class Action Alleging Attorneys Conspired to Defraud Aug 18, 2009
"By masquerading as attorney referral services, unregulated debt negotiators and exempt attorneys, the defendants collaborate to evade strict state consumer protection regulations enacted to protect unknowing debtors," the plaintiffs allege in James R. Wall, et al. v. Debt Relief Group LLC, et al., filed in the U.S. District Court for the Western District of Texas. Plaintiffs' attorney Charles E. Ames of Carrollton, Texas, says the plaintiffs did not get the debt relief they expected ... "They... (Law.com)
Primary care loses its prestige Aug 18, 2009
Congress is looking at bills that could help doctors who choose primary care with loan forgiveness or other debt relief and payment increases for their services. Medical school tuition and expenses generally range from $140,000 to $200,000, according to Merritt Hawkins & Associates, a leader in recruiting and placing physicians. (USA Today)
Reduce Your Debt Up To 40% Aug 15, 2009
Let us help you achieve true debt relief in 12-48 months. Our debt reduction program can be specifically designed and tailored to your needs. (KFOXTV.com, TX)
Restoring Confidence in the Economy: Aug 15, 2009
We have used up foreign exchange resources which have accrued from various debt relief arrangements to shore up the value of the cedi. . (Ghana Web, Ghana)
Easier loans for drought-hit farmers Aug 15, 2009
But the government has to come out with a detailed plan, since there have been delays in clearing the installments of debt relief scheme announced earlier, said the executive director of a public sector bank, who asked not to be named. Though there has been no discussion on the interest rates, banks are expected to take a sympathetic view of the difficulties of the borrowers and extend a concessional treatment to calamity-affected people. (India Times)
Setting the records straight: What Duffuor wrote to the IMF Aug 12, 2009
This growth was fostered by significant debt relief which provided the country with fiscal space to embark on critical infrastructure investments, particularly in the energy and road sectors, as well as targeted social spending, all under the Ghana Poverty Reduction Strategy (GPRS). The combination of higher output growth, declining inflation, and improved social spending under the GPRS framework contributed significantly to lower poverty levels. (Ghana Web, Ghana)
Liberia: Debt Relief for Post-War Rebuilding [analysis] Aug 12, 2009
com: Liberia: Debt Relief for Post-War Rebuilding (Page 1 of 1) ... Liberia: Debt Relief for Post-War Rebuilding ... For Liberia - like other African countries emerging from war - debt relief can provide a vital financial boost, enabling a shift of scarce revenues from debt payments to reconstruction and combating poverty. (allAfrica.com)
