In a dramatic financial rescue, Ukraine narrowly avoided defaulting on a staggering $20 billion in loans by reaching a critical agreement with private creditors in July. This deal comes amid the heavy financial strains of ongoing conflict, and it’s a story that highlights both the gravity of Ukraine’s situation and
Fitch Ratings, a major U.S. credit-rating agency, has just downgraded Ukraine’s credit rating to ‘restricted default.’ This decision came after Ukraine missed a crucial payment deadline on a $750 million Eurobond that was due on August 1, 2023. The country had a ten-day grace period to make the payment, but
In 2023, a shocking 94.6 million people across the European Union (EU)—which is just over 21 percent of the entire population—were living at risk of poverty or social exclusion. This means that more than one in five people in the EU were struggling with at least one of three major
Japanese Prime Minister Fumio Kishida is stepping down as the leader of Japan’s ruling Liberal Democratic Party (LDP) following a series of scandals and problems. His resignation comes after his approval ratings fell sharply due to a major fundraising scandal involving the LDP. The scandal revealed that over 100 million
Last month, US Federal Reserve Chairman Jerome Powell warned that America’s rising debt is unsustainable, echoing concerns from El Salvador’s President Nayib Bukele who called the Fed’s money-printing a “bubble” waiting to burst. Central banks around the world are increasingly abandoning the US dollar, driven by the US’s financial sanctions
Over the last three decades, Europe’s population landscape has dramatically shifted, with some countries experiencing significant growth while others are shrinking rapidly. Western European nations like Türkiye and Ireland have seen their populations soar, partly due to immigration, while many Eastern European and Balkan countries, including Russia and Ukraine, are
A top African energy advocate is accusing Western banks of unfairly discriminating against African oil and gas projects, calling it “financial apartheid.” NJ Ayuk, chairman of the African Energy Chamber, claims that while Western countries enjoy investments in their energy sectors, African nations are being denied similar support due to
Warren Buffett’s Berkshire Hathaway just made headlines with its huge investment in U.S. Treasury bills, surpassing even the Federal Reserve’s holdings. In the first half of the year, Berkshire scooped up $230 billion in these low-risk, short-term securities, making it a major player in this investment arena. Despite his usual
China is making a big shift in its economy to protect itself from global problems like wars and pandemics. Under Xi Jinping’s leadership, the country is focusing on becoming more self-reliant and less dependent on international trade. This strategy, called the “fortress economy,” aims to strengthen China’s internal industries and
