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Top related persons:
Patrick Curran - 2 Rachel Savage - 2 Tellimer - 1 Rodrigo Campos - 1 Alex Richardson - 1 Toby Chopra - 1 Kirsten Donovan - 1 Bola - 1
Top related locs:
JOHANNESBURG China Addis Ababa Tigray Ethiopia France India Kuwait
Top related orgs:
Thomson - 2 International Monetary Fund - 1 Paris Club - 1 French Treasury - 1 Ethiopian - 1 IMF - 1 Club - 1 OCC - 1

Search resuls for: "Patrick Curran"


7 mentions found


☆ Ethiopia debt service pause contingent on IMF deal by end-March -Paris Club
  + stars: | 2023-12-01 | by ( Rachel Savage | Thomson Reuters | Rachel Savage Is Africa Senior Markets Correspondent At Reuters | ) www.reuters.com   time to read: +3 min
It will see suspended payments repaid from 2027 to 2029 after a grace period from 2025 to 2026, the Paris Club said in a statement, noting that the deal was reached on Nov. 23. If Ethiopia does not get an IMF staff-level agreement by March 31, the official creditor committee "reserves the right to declare the suspension null and void", the Paris Club said. The Paris Club said 10 of its members were on Ethiopia's official creditor committee, which is co-chaired by France and non-Paris Club member China. Other non-Paris Club committee members are India, Kuwait, Poland, Saudi Arabia and Turkey. "We welcome the recent announcement of an interim standstill agreement with official creditors," the IMF spokesperson added.
Persons: Tellimer, Patrick Curran, Rachel Savage, Rodrigo Campos, Alex Richardson, Toby Chopra, Kirsten Donovan Organizations: International Monetary Fund, Paris Club, French Treasury, Ethiopian, IMF, Club, OCC, China, Thomson Locations: JOHANNESBURG, China, Addis Ababa, Tigray, Ethiopia, France, India, Kuwait, Poland, Saudi Arabia, Turkey
☆ Baba Go-fast? Nigeria's Tinubu stuns wary investors with quick reforms
  + stars: | 2023-06-15 | by ( Rachel Savage Libgeorge | Rachel Savage | Thomson Reuters | ) www.reuters.com   time to read: +4 min
But investors, burned by previous reforms that ultimately proved hollow, say it will take time to build trust and listed myriad questions over the final shape of the economy. Tinubu is from the same party as predecessor Muhammadu Buhari, dubbed "Baba Go-slow" for his pottering pace - taking six months to appoint cabinet members. Nigeria's international dollar bonds and the country's stock market have been boosted by the speedy reforms. Reuters GraphicsInvestors also worry about low tax receipts and falling oil output - structural reforms that will take far longer to sort. Meanwhile interest rates, which Tinubu has said he would like to see fall, were hiked by 50 bps last month to 18.5%.
Persons: Bola, Temilade, Bola Tinubu's, Tunde Ajileye, Muhammadu Buhari, Godwin Emefiele, Goldman Sachs, Andrew Matheny, John Mumo, Joe Delvaux, Amundi, Delvaux, Tinubu, Patrick Curran, Rachel Savage, Libby George, Karin Strohecker, Nick Macfie Organizations: Nigeria's, REUTERS, Central Bank, Reuters, Reuters Graphics, Tellimer, Thomson Locations: Abuja, Nigeria, JOHANNESBURG, LONDON, Lagos, Blakeney, Africa
☆ Analysis: No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
  + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com   time to read: +6 min
LONDON, April 13 (Reuters) - The latest bid by the world's leading institutions and creditors to speed up debt restructurings and get bankrupt countries back on their feet has been greeted by a mix of cautious optimism and weary scepticism by veteran crisis watchers. The somewhat loose framework around sovereign restructurings has seen Beijing seek to influence the traditional rules of engagement in these processes. The Common Framework platform introduced by leading G20 nations in 2020 aimed to bring all creditors, including China, together and streamline negotiations. Anna Ashton, director of China research at Eurasia Group, said this week’s developments underscored the benefits for China to give some ground on some of its concerns. "China is a difficult partner to talk to but we need China at the table for the solution of debt problems, because otherwise we won't see any progress," Lindner said.
☆ No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
  + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com   time to read: +6 min
LONDON, April 13 (Reuters) - The latest bid by the world's leading institutions and creditors to speed up debt restructurings and get bankrupt countries back on their feet has been greeted by a mix of cautious optimism and weary scepticism by veteran crisis watchers. The somewhat loose framework around sovereign restructurings has seen Beijing seek to influence the traditional rules of engagement in these processes. The Common Framework platform introduced by leading G20 nations in 2020 aimed to bring all creditors, including China, together and streamline negotiations. Anna Ashton, director of China research at Eurasia Group, said this week’s developments underscored the benefits for China to give some ground on some of its concerns. "China is a difficult partner to talk to but we need China at the table for the solution of debt problems, because otherwise we won't see any progress," Lindner said.
☆ Turkey central bank firms grip on lira as election approaches
  + stars: | 2022-11-11 | by ( Nevzat Devranoglu | ) www.reuters.com   time to read: +5 min
[1/2] A logo of Turkey's Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. Unlike past schemes to support the lira, the central bank no longer needs to constantly tap its own reserves, according to 10 bankers and economists and one Turkish official. The central bank declined to comment for this article, but senior officials and President Tayyip Erdogan have regularly praised the new regulations. Bankers' calculations show the central bank has obtained about $100 billion this year under the new policy. Yet the central bank told bank executives this week it will continue with its regulations and policies, despite their criticism, according to sources at the meetings.
☆ Egypt's pound sinks further against dollar after flexibility pledge
  + stars: | 2022-10-30 | by ( ) www.reuters.com   time to read: +2 min
CAIRO, Oct 30 (Reuters) - Egypt's pound fell about 4% to 24 against the dollar as trading resumed on Sunday, Refinitiv data showed, after authorities committed to a flexible exchange rate under an International Monetary Fund support deal. The pound slid about 14.5% to 23 against the dollar on Thursday after they pledged a "durably flexible" exchange rate in conjunction with a staff-level agreement for a $3 billion IMF extended fund facility. Egypt's currency has been held steady or allowed to depreciate only gradually following previous sharp devaluations in 2016 and this March. It has weakened about 34.5% against the dollar so far this year. It introduced a mandatory requirement for importers to use letters of credit, leading to a sharp slowdown in imports and bottlenecks at ports.
☆ Analysis: IMF plugs financing gaps as riskier emerging markets face squeeze
  + stars: | 2022-10-14 | by ( Jorgelina Do Rosario | ) www.reuters.com   time to read: +6 min
Ghana, Egypt, Tunisia and Malawi are all in talks on some type of IMF financing. Countries' debt burdens have risen. Turning to the IMF for financing has been the traditional playbook for smaller, strained countries in times of crisis. A set of new IMF tools should also help funnel more funds to such countries in the short-term. "But IMF does act as an anchor and allows access to a broader set of funding, even if not from the market," said Alexandru-Chidesciuc.
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