Gov. Alejandro GarcĂa Padilla has announced that Puerto Ricoâs Government Development Bank would default on most of the $422 million payment currently due on the U.S. territoryâs debt. As Puerto Ricoâs debt crisis evolves and Congress looks for ways to improve draft legislation addressing the crisis, the Government Development Bank default can inform observersâ understanding of […]
IMF AND WORLD BANK MOVE TO FORESTALL OIL-LED DEFAULTS
January 30, 2016 by
Officials from the International Monetary Fund and the World Bank are heading to Azerbaijan to discuss a possible $4bn emergency loan package in what risks becoming the first of a series of bailouts stemming from the tumbling oil price. The Baku visit, which follows a currency crisis triggered by the collapse in crude, comes amid […]