By Dan Burns (Reuters) – Confidence among U.S. single-family home builders fell for a record 12th straight month in December as even a scramble to offer incentives for prospective buyers failed to boost traffic and lift sales in today’s high-inflation, high-interest rate environment. Kicking off a week of key reports on the health of the …
U.S. home builder gloom persists, but some hope seen for next year Read More »
ACCRA (Reuters) – Ghana’s finance ministry said on Monday it was suspending debt service payments on certain categories of external debt including Eurobonds, commercial loans and most bilateral debt. The government “stands ready to engage in discussions with all of its external creditors to make Ghana’s debt sustainable,” the finance ministry said in a statement. …
Ghana suspends debt service payments on certain external debt: finance ministry Read More »
CAIRO (Reuters) -The International Monetary Fund’s new $3 billion financial support package for Egypt aims to reduce government debt to less than 80% of gross domestic product (GDP) in the medium term, a cabinet report released on Saturday said. The IMF did not require the Egyptian government to cut spending on subsidies, the report said, …
Egypt’s new IMF deal aims to reduce government debt -cabinet Read More »
ROME (Reuters) – Italian Economy Minister Giancarlo Giorgetti said on Saturday it was unrealistic to expect energy prices to fall by March and that the war in Ukraine will come to an end. He told an event in Rome that Italy was studyng a mechanism to shield households and business from soaring energy bills, which …
Energy price fall by March is unrealistic, Italian economy minister says Read More »
ISTANBUL (Reuters) – Turkey extended by a year a scheme that had it adopted in the throes of a 2021 currency crisis which protects lira deposits from depreciation versus hard currencies. A presidential decree published in Saturday’s official gazette amended the deadline for opening new so-called KKM accounts to Dec. 31, 2023. President Tayyip Erdogan’s …
Turkey extends FX-protected lira deposit scheme for a year Read More »
By Cooper Inveen ACCRA (Reuters) -Ghana has extended the registration deadline for a domestic debt exchange programme to Dec. 30, as it considers making some adjustments while it seeks approval for an IMF debt relief programme, the finance ministry said in a statement overnight on Friday. “The extension… affords Government of Ghana the opportunity to …
Ghana extends domestic debt exchange registration deadline Read More »
By Andrea Shalal WASHINGTON (Reuters) – The World Bank’s private investment arm sees huge potential to boost investment in Africa and help support entrepreneurship and digital transformation on the continent, top officials with the International Finance Corp (IFC) said. U.S. President Joe Biden this week hosted a three-day summit attended by 45 African national leaders …
World Bank’s IFC sees ‘huge’ potential to boost investment in Africa Read More »
By Medha Singh (Reuters) – Retail investors are doubling down on Exchange Traded Funds (ETFs) as rising interest rates and volatile markets curb their appetite for risky assets such as meme stocks, SPACs and cryptocurrencies. Global financial markets have taken a beating as central banks try to combat runaway inflation with aggressive rate hikes, thereby …
Retail investors turn to ETFs as recession fears knock down meme stocks Read More »
GUAYAQUIL (Reuters) – Ecuador has fully financed its budget for next year and is not looking for a new credit agreement with the International Monetary Fund (IMF), the country’s economy minister said on Friday, adding that the government will maintain close ties with the fund. The IMF this week concluded the latest review of its …
Ecuador not looking for new agreement with IMF, will maintain ties Read More »
(Reuters) -San Francisco Federal Reserve Bank President Mary Daly on Friday said it’s a “reasonable” to think that once the Fed policy rate gets to its peak, it will stay there for nearly a year, and added she’s prepared to keep it there longer if needed. “Everybody has rates holding for ’23,” Daly said in …
Fed could hold rates at peak into 2024, Daly signals Read More »
