Debt crisis Current Affairs, GK & News

Sub-Saharan Africa’s Debt Burden at Record High

According to the International Debt Report 2022 by the World Bank, debt of low and middle-income countries in Sub-Saharan Africa (SSA) surged to a record high of 789 billion USD in 2021. What are the key findings of the report? The debt of countries in sub-Saharan Africa (SSA) increased from 702 billion USD in 2020 ..

Month: Current Affairs - December, 2022

Category: International / World Current Affairs • Reports & Indexes Current Affairs

Topics: Africa • Debt crisis • Economic Crisis • sub-Saharan Africa

EIB skeptical about recovery of Eurozone crisis within two years

The European Investment Bank (EIB) is doubtful about the recovery of Euro zone from its debt crisis within the next two years. As per the Bank the pressure on the European member state to settle the situation will remain for a longer time. The bank, however, believes that the political framework to tackle with the ..

Month: Current Affairs - July, 2012

Topics: Debt crisis • Economy • Economy of the European Union • EIB • Euro • European debt crisis • European Investment Bank • European Union • Eurozone • Financial crises • Government debt • Multilateral development banks

European Financial Stability Facility

European Financial Stability Facility (EFSF) is a SPV (special purpose vehicle) financed by members of the Eurozone to combat the European sovereign debt crisis. It was agreed by the 27 member states of the European Union on 9 May 2010, aiming at preserving financial stability in Europe by providing financial assistance to Eurozone states in ..

Month: Current Affairs - December, 2011

Topics: Debt crisis • Economy • Euro • European Central Bank • European debt crisis • European Financial Stabilisation Mechanism • European Financial Stability Facility • European Union • Eurozone • International Monetary Fund • Policy reactions to the Eurozone crisis

European Debt Crisis

Background: The Euro’s introduction in 1999 came along with unified interest rates in the nations that share the currency. These unified interest rates allowed members to borrow heavily. The result was that the bonds that were issued by the nations of south Europe were taken at par with the bonds that were issued by strong ..

Month: Current Affairs - November, 2011

Topics: Debt crisis • Decades • Economy • Economy of the European Union • Euro • Eurozone • Eurozone crisis • Financial crises • Government debt • International Monetary Fund • Money • Sovereign default