By Stephen Johnson, Economics Reporter For Daily Mail Australia 03:30 09 Apr 2024, updated 05:18 09 Apr 2024 Australians are more likely to be suffering mortgage stress than almost any other people in the world because very few borrowers here are on a fixed interest rate, a new IMF report says. On a global scale,
Pakistan’s newly elected Prime Minister Shehbaz Sharif picked a former banker from JPMorgan Chase & Co. as finance minister to help bolster the cash-strapped economy after a contentious election. Muhammad Aurangzeb, 59, was appointed to the position, the Finance Ministry confirmed in a post on X. He earlier stepped down as chief executive officer of
Default loans surge by Tk25,000cr, standing at Tk1.45 lakh crore in December, accounting for 9% of the total loans The country’s banking sector experienced a steep rise in default loans by Tk25,000 crore in 2023 amid election-centric political uncertainties and a severe dollar shortage that slowed down business activities, making many borrowers unable to
India has rebuffed the International Monetary Fund’s (IMF) projection that the nation’s government debt could surpass 100 percent of its GDP by 2027-28, calling it “misconstrued”, PTI reported. The finance ministry in a statement clarified that the debt situation in India isn’t as alarming as projected and highlighted several points to substantiate its stance. “It