As the fiscal wrangle over U.S. federal government's budget and debt ceiling lingers, U.S. President Barack Obama has started to reach out to congressional leaders of both parties to end the fiscal impasse.
Investors finally showed some nervousness Tuesday towards the ongoing fiscal wrangling in Washington, as the partial government shutdown drags on into a second week and the debt ceiling deadline is looming large, eroding market confidence.
High debt ratios amid weak growth in developed economies and emerging vulnerability in the developing world shadowed the global fiscal landscape, the International Monetary Fund said on Wednesday in its newly-released report.
The lack of proper mid-term deficit cuts plan in the U.S. and Japan as well as the uncertain global environment and weak growth prospects put hurdles on global fiscal consolidation, said the International Monetary Fund (IMF) on Wednesday in a newly-released report.
As the fiscal stalemate over U.S. federal government's budget and borrowing authority lingers, there are positive signs on Monday that U.S. policy makers are mulling over a way out of the logjam.
U.S. House Minority Leader Nancy Pelosi and her fellow Democrats urged Republicans on Thursday to reopen the federal government and not to blend shutdown with debt ceiling.
U.S. President Barack Obama said Sunday that he will not negotiate with his Republican rivals on raising the country's debt ceiling to avert a debt default of the world's largest economy.
With positive economic signs trickling in and hopes on the rise that the worst may be over for Italy's beleaguered economy, analysts say the Italian government appears to be gradually shifting focus from debt reduction to ways to spark growth.
In the latest positive indicator for the Italian economy, the country's industrial production levels inched higher for the second consecutive month in June, though economists say it will be difficult for Italy's economic malaise to weaken substantially until debt levels begin to drop and the political situation stabilizes.
China's audit of government-related debt obligations is credit positive, as it will improve the transparency of the country's local government debt, Moody's said in a Thursday report.
A forthcoming audit of overall government debt in China is expected to reveal the status quo of growing government debt and its potential risks amid the country's economic slowdown.
The risks for global economic growth still loom large as massive public debts, insufficient institutional reforms and the U.S. Fed's hint at a stimulus exit are haunting the world and implying an anemic recovery, economic analysts warn.
Fortescue Metals Group's (FMG) low performance-price ratio and 12 billion U.S. dollar debt has sounded alarm bells for some Chinese investors recently.
Mediaworks, the owner of TV3 and a network of radio stations in New Zealand, is being put into receivership so it can restructure its way out of hundreds of millions of dollars in debt.
China's National Audit Office on Monday warned of the risks relating to some local governments' fast debt growth and the pressure to repay existing arrears.
A fresh debt crisis may break out in the short or medium term, economic experts have warned at the Boao Forum for Asia, which opened on Sunday in south China's Hainan Province.
The White House on Tuesday said they welcomed the House Republicans' proposal of a short-term extension of debt limit and the President would sign the bill if it could reach his desk.
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