By Reuters Staff
(Recasts to add ‘bad bank’ liabilities and details)
MADRID, March 31 (Reuters) - Spain’s public debt reached 120% of gross domestic product last year, above the previously reported 117.1%, the Bank of Spain said on Wednesday, after adding ‘bad bank’ liabilities stemming from the financial crisis a decade ago as demanded by Brussels.
The debt-to-GDP ratio spiked from 95.5% at the end of 2019 and 114% in the third quarter of 2020, mostly due to increased spending to cushion the effect of the COVID-19 pandemic and a simultaneous economic slump.
The higher final debt ratio confirms what a senior government source told Reuters last week.
By Reuters Staff
(Adds Scholz, background)
BERLIN, March 1 (Reuters) - Germany is likely to suspend constitutionally enshrined limits on new borrowing again next year to finance more rescue and stimulus measures to help the economy recover from the COVID-19 pandemic, Finance Minister Olaf Scholz said on Monday.
Speaking at a news conference to present the election manifesto of his centre-left Social Democrats (SPD), Scholz said one of the main goals was to keep public investments high in infrastructure, climate protection and digitalisation.
Asked whether he was planning to suspend the so-called debt brake, which limits new borrowing to a tiny fraction of economic output, for a third year in a row in 2022, Scholz said he would present next year’s draft budget on March 24.
Tullow Oil Plc said on Friday it has agreed to a new reserve-based loan of about $1.7 billion with its banks, taking its liquidity to roughly $900 million, including free cash and available debt.
Spain's public debt ended 2020 at 117.1% of gross domestic product as the coronavirus pandemic and the measures imposed to curb it lifted borrowing and led to a deep economic contraction, the Bank of Spain said on Wednesday.
By Reuters Staff
(Adds details)
NEW YORK, Nov 19 (Reuters) - A group of Suriname’s creditors said on Thursday it would engage with the South American country’s authorities regarding a payment deferral if it extends the current solicitation expiration, coming up next week.
“The extremely short period of time allocated to the Consent Solicitation in its current form . raises a concern with respect to the viability of a successful outcome within the allotted time,” the creditor committee said in a statement.
Suriname’s government on Saturday asked creditors for a payment deferral on its two bonds, due in 2023 and 2026, which total $675 million.