Latest News for: Currency default

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Asian economies are in trouble but a 1997-style crisis is unlikely

The Citizens 05 Oct 2022
Currencies and stock markets in Asia's biggest economies have plunged to lows not seen in decades, as a mighty US dollar, rapid interest rate increase by the US Federal Reserve and a slowdown in China spark capital outflows from the region ... The Japanese yen has tumbled a whopping 26% this year, declining the most among all Asian currencies.
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Pakistan's Bilawal Bhutto calls India 'rich and evil' at the same time | Mint

Live Mint 05 Oct 2022
Pakistan, at the moment, is facing one of its biggest economic crises, as it is on the brink of defaults and diplomatic isolation ... Islamabad managed to secure a much-needed bailout package from the IMF in September when the Fund's executive board approved the release of $1.1 billion to Pakistan - averting the threat of imminent default.
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GCR affirms Ecobank Ghana rating A+, outlook stable

Business Ghana 05 Oct 2022
The ratings also factor in improving capitalisation and improving asset quality risk ... Foreign currency (FCY) loans accounted for 31.9 per cent of gross loans and advances in 2022 (FY20 ... In the unanticipated event of a sovereign default and haircut of local currency government debt, there could be significant capital erosion across the banking sector.
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What Is a Market Bubble? Examples, Indicators & Takeaways

Henry Herald 05 Oct 2022
The consequences of debt bubbles include debt deflation, or a rise in loan defaults, bank failures, and even currency collapse.Combination bubbles, which occur when equity bubbles are financed with debt, can be especially devastating.
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GCR affirms Ecobank Ghana PLC’s long and short-term national scale issuer ratings of A+(GH) / A1...

Business Ghana 05 Oct 2022
  ... Short Term issuer National A1(GH). Rating Rationale ... Foreign currency (FCY) loans accounted for 31.9% of gross loans and advances in FY22 (FY20 ... In the unanticipated event of a sovereign default and haircut of local currency government debt, there could be significant capital erosion across the banking sector ... 108%) and 88% (FY21 ... Risk 0.00 ... .
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How accurate is the online speculation on Credit Suisse? | Mint

Live Mint 04 Oct 2022
Aiding this line of speculation has been the cost of insuring against default by the bank on its debt ... A credit default swap is a derivative that hedges against the risk of default on a bond by the issuer ... Along with derivatives to hedge against currency risk and interest rate risk, credit default swaps enable a bond market to function efficiently.
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Economic downgrade could affect SMEs’ growth

B & FT Online 04 Oct 2022
Speaking to Business and Financial Times (B&FT) on the impact of Fitch Ratings’ latest downgrading of Ghana’s Long-Term Local- and Foreign-Currency Issuer Default Ratings (IDRs) to ‘CC’ from ‘CCC’, Prof.
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GCR affirms Ecobank Ghana rating at A+, outlook stable

Joy Online 03 Oct 2022
The ratings also factor in improving capitalisation and improving asset quality risk ... Foreign currency (FCY) loans accounted for 31.9% of gross loans and advances in 2022 (FY20 ... In the unanticipated event of a sovereign default and haircut of local currency government debt, there could be significant capital erosion across the banking sector ... .
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Forex investments gain momentum as a global trend

Finance Magnates 03 Oct 2022
Instances like these are extremely rare in Forex, since the currencies and commodities traded there are historically reliable assets that are well-equipped against sudden defaults.</p><p class="MsoNormal">Saving accounts and cash savings have their merit in times of economic stability and thrive.
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Imran Khan should be tried under secrets act: PMLN

The News International 02 Oct 2022
While addressing the press conference, Ishaq Dar accused the PTI government led by Imran Khan of paralysing the country’s economy and bringing it to the brink of default ... He stated that the country was close to default but was saved by the sincere efforts of the PDM government.
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Why Is The U.S. Dollar So Strong Right Now?

The Roanoke Times 01 Oct 2022
Dollar Index, which measures the greenback against a basket of other currencies, is up nearly 17% so far this year ... A strong dollar refers to the relative value of dollars compared to another currency or a basket of currencies. A currency isn’t strong or weak on its own; it can only be so compared to something else.
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It will take Ghana 3 years to return to International Capital Market – Finance Minister

Business Ghana 01 Oct 2022
The three rating agencies, Fitch, Moody’s and Standard & Poor’s have all downgraded the country’s credit worthiness to junk status ... Fitch Ratings recently, downgraded Ghana’s Long-Term Local – and Foreign-Currency Issuer Default Ratings (IDRs) from ‘CCC’ to ‘CC’ ... --Advertisements--. .
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Moody’s joins Fitch in Ghana downgrade

Graphic 30 Sep 2022
Credit rating agency Moody’s has downgraded Ghana’s credit rating over concerns of debt default ... Last month, Fitch Ratings also downgraded Ghana's Long-Term Local- and Foreign-Currency Issuer Default Ratings (IDRs) to 'CC', from 'CCC' ... As a result, the risk of an eventual default has increased.
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Markets in Q3: Goldilocks fairytale turns into bad bear nightmare

FX Empire 30 Sep 2022
It has charged up another 7% leaving it up 17% for the year against the main world currencies ... Staggeringly, no notable EM currency has risen this quarter ... Ukraine itself has joined Sri Lanka in default and concerns are rife in both currency and bond markets that Ghana and Pakistan are next.
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Markets in Q3: Goldilocks fairlytale turns into bad bear nightmare

Reuters 30 Sep 2022
It has charged up another 7% leaving it up 17% for the year against the main world currencies ... Staggeringly, no notable EM currency has risen this quarter ... Ukraine itself has joined Sri Lanka in default and concerns are rife in both currency and bond markets that Ghana and Pakistan are next.

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