Mbabane, Swaziland (IRIN) – The International Monetary Fund (IMF) has withdrawn its advisory team from Swaziland, saying it is unable to support the government’s proposed financial reform program. The IMF was assisting the government in implementing the Fiscal Adjustment Roadmap (FAR), to right-size the budget, where government spending currently exceeds its revenue. “Government has yet [...]
Diane Alter – AHN News Reporter Arlington, VA, United States (AHN) – Mortgage rates in the U.S. have fallen to a record low-again. The average rate for 30-year fixed loan slipped to 3.84 percent for the week ending May 3, down from 3.88 percent in theor week. It is the lowest ever for the 30-year [...]
Anil Giri – AHN News Correspondent Kathmandu, Nepal (AHN) – Japan has agreed to provide financial support of ¥250 million (approximately $3 million) to Nepal as food aid. Narayan Kaji Shrestha, Nepal’s deputy prime minister and minister for foreign affairs, and Koichiro Gemba, Japan’s foreign minister, witnessed the signing of the deal Sunday at the [...]
Gaza, Palestinian Territory (IRIN) – The demand for microloans has risen steeply in the West Bank and Gaza Strip in recent years, according to data from the Palestinian Network for Small and Microfinance (Sharakeh), which represents 11 microfinance non-profit institutions whose total loan portfolio was US$75 million by the end of 2011. Between 2007 and [...]
The Media Line Staff Cairo, Egypt David Rosenberg / The Med – An International Monetary Fund loan critical to propping up Egypt’s teetering economy is being jeopardized by domestic political infighting that threatens to delay or even scuttle the program, economists say. An IMF delegation left Cairo late on Tuesday after 17 days of talks [...]
ProPublica Staff Washington, DC, United States (ProPublica) – by Marian Wang It was with some fanfare that the Obama administration announced last fall that it was ramping up a program to help students with federal loans reduce their monthly payments. Under the program, payments are adjusted based on how much students earn — what’s known [...]
Mao, Chad (IRIN) – Late Chadian government recognition of a food crisis, a slow build-up from aid agencies, and severe pipeline constraints due to closed Libyan and Nigerian borders mean food aid has not yet arrived in Chad, despite many thousands of people having already run out of food. Residents of Eri Toukoul village in [...]
Cairo, Egypt (IRIN) – Nasser Ali Hossan Morsy, who worked as a porter in central-northern Egypt, knew he needed another source of income when he suffered lower back problems last year so he decided to take a loan and buy a motorcycle. The motorcycle, he reasoned, would help him provide for his wife and five [...]
ProPublica Staff Washington, DC, United States (ProPublica) – by Lois Beckett As we’ve detailed, President Obama’s plans to help homeowners have come up short time and again. We recently looked at Obama’s latest proposals, most of which are unlikely to make a major dent in the crisis. So, how about the Republican presidential candidates: What [...]
The Media Line Staff Cairo, Egypt (The Media Line) – Egypt faces a risk-laden game of Beat the Clock as it tries to get its political house in order before its foreign currency reserves sink much more. Reserves fell to $16.4 billion in January from about $36 million a year earlier, a drop that economists [...]
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