In a response to a Supreme Court setback, the Biden administration has made significant changes to several debt relief programs. As of Wednesday, it released $5 billion for 53,000 public sector workers under the Public Service Loan Forgiveness program. This program had been hindered by bureaucratic issues for approximately 15…

(Reuters) – Three U.S. states in New England – Massachusetts, Rhode Island and Connecticut – on Wednesday agreed to jointly procure offshore wind power as soaring interest rates and rising equipment and labor costs have made some projects uneconomic. By joining forces, the states hope to counter the pain rippling…

The Ukrainian economy is demonstrating resilience amidst ongoing war challenges, with the International Monetary Fund (IMF) and the Ukrainian Economy Ministry projecting growth in the coming years. This was revealed in a press conference held on Wednesday by Natan Epstein, IMF Deputy Mission Chief for Ukraine. Epstein commended the remarkable…

A recent report from the World Bank has highlighted significant challenges to fiscal consolidation in Latin America and the Caribbean (LAC), including substantial deficits, escalating interest rates, and a high debt-to-output ratio. The report was published on Wednesday. The World Bank’s chief economist, William Maloney, emphasized the region’s sluggish economic…

By Rodrigo Campos NEW YORK (Reuters) -The World Bank on Wednesday raised its growth estimate for the economies of Latin America and the Caribbean (LAC) to 2.0% from 1.4% in 2023 even as economic growth in the region remains the slowest in the world. A World Bank spokesperson cited the…

In a bid to overcome financial hurdles, Zambia is on the verge of signing a memorandum of understanding to restructure its hefty $6.3 billion debt. The agreement is expected to be finalized during the IMF’s annual summit next week, according to information released on Wednesday. The southern African nation has…

MEXICO CITY (Reuters) – The U.S. and Mexico have resolved a labor complaint under a regional trade deal at a Grupo Yazaki auto parts factory in the central Mexican state of Guanajuato, both governments said on Wednesday. Grupo Yazaki, part of Japan’s Yazaki Corp., agreed to issue a neutrality statement,…

Today, the International Monetary Fund (IMF) revised its growth forecast for the Philippines to 5.3 percent for 2023, positioning the country as one of the fastest-growing economies in Asia. The IMF report underscored the nation’s post-pandemic recovery and the potential of the Maharlika Investment Fund, public-private partnerships, and their alignment…

U.S. stocks saw a surprising bounce on Friday, culminating in the S&P 500 index’s biggest intraday comeback since the March banking crisis, even though a monthly jobs report for September came in much higher than expected. So, are investors no longer worried about the Federal Reserve’s inflation fight or higher…

By Alun John and Naomi Rovnick LONDON (Reuters) -A broad selloff in world government bonds on Wednesday drove up U.S. 30-year Treasury yields to 5% for the first time since 2007 and German 10-year yields to 3%, moves that could hasten a global slowdown and hurt stocks and corporate bonds.…