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☆ These 17 factors could soon make you eligible for student loan forgiveness
▼ + stars: | 2024-10-25 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

After a months-long negotiated rulemaking process, President Joe Biden and his administration have unveiled a new proposed regulation to provide debt relief to student loan borrowers facing financial hardship. It goes on to list 17 non-exclusive factors that could substantiate hardship. The other pathway will likely be primarily application-based and will see the department considering individual cases for debt relief using these factors or other evidence of hardship. The proposal will soon be entered into the Federal Register where it will undergo a 30-day public comment period. This debt relief action stems from the Supreme Court's ruling against President Biden's plan to enact broad student loan forgiveness in June 2023.

Persons: Joe Biden, Pell Grant, Biden's Organizations: Federal, Federal Student, Department of Education, CNBC

Amazon Prime Credit Card OverviewFormerly known as the Amazon Prime Rewards Visa Signature Card, the newly renamed Prime Visa is a great choice for anyone who spends a lot on Amazon, Whole Foods, or both. Prime Visa Annual Fee and APRAnnual FeeThe Prime Visa doesn't have an annual fee. Prime Visa Card ComparisonThe Prime Visa is a great card if you make most of your household purchases from Amazon and/or Whole Foods. Amazon Prime Credit Card Frequently Asked QuestionsWhat are the main benefits of the Amazon Prime Rewards Visa Card? Do I need an Amazon Prime membership to apply for the Amazon Prime Visa?

Persons: Cardholders, Chase, —, you'll, Wells, it's Organizations: Business, Amazon, Foods, Chase Travel, Visa, Amazon.com, FDIC, Amazon Prime, Read, Emergency, Chase, Chase Travel ℠, Wells, American, American Express, Global, Amex Locations: U.S, Wells

Wells Fargo Autograph Card OverviewThe Wells Fargo Autograph℠ Card offers various benefits including cellphone protection and car rental insurance. How the Wells Fargo Autograph Card ComparesWells Fargo Autograph℠ Card vs. Wells Fargo Active Cash® CardThe Wells Fargo Active Cash® Card is another very popular Wells Fargo credit card. Wells Fargo Autograph℠ Card vs. Wells Fargo Autograph Journey℠ CardThe Wells Fargo Autograph Journey℠ Card is the newest iteration of this popular travel rewards card. Despite the $95 annual fee, the Wells Fargo Autograph Journey℠ Card offers significantly more perks for frequent travelers than the Wells Fargo Autograph℠ Card. Wells Fargo Autograph Card Frequently Asked QuestionsIs the Wells Fargo Autograph card worth it?

Persons: Wells, Insider’s, There's, Cardholders, That's, it's, Assistance Wells, you'll, You'll, Cash, Read, Chase Travel ℠ Organizations: PayPal, Wells, Apple, ESPN, Emergency, Assistance, Card, Chase, Travel, Chase Travel, Sapphire Locations: Wells Fargo, Wells, U.S

The Bank of America® Travel Rewards credit card is a good travel credit card for beginners or those who prefer simplicity in earning and redeeming rewards. Bottom LineIf you're in search of a no-annual-fee travel credit card that offers a straightforward points program, the Bank of America® Travel Rewards credit card is worth considering. Bank of America Preferred Rewards Tiers Preferred Rewards Gold: 25% more rewards on eligible Bank of America rewards credit card spending (earn 1.875 points per dollar)25% more rewards on eligible Bank of America rewards credit card spending (earn 1.875 points per dollar) Preferred Rewards Platinum: 50% more rewards on eligible Bank of America rewards credit card spending (earn 2.25 points per dollar)50% more rewards on eligible Bank of America rewards credit card spending (earn 2.25 points per dollar) Preferred Rewards Platinum Honors: 75% more rewards on eligible Bank of America rewards credit card spending (earn 2.625 points per dollar)One other way to boost your returns from the Bank of America® Travel Rewards credit card is by purchasing travel through the Bank of America travel center. No foreign transaction feesGood travel credit cards don't charge foreign transaction fees, and the Bank of America® Travel Rewards credit card is no exception. The Bank of America® Travel Rewards credit card is worth it if you're looking for a simple way to earn and use credit card rewards for travel without paying an annual fee.

Persons: It's, cardholders, you'll, Merrill, Miles you've, there's Organizations: Business, Bank of America, of America, Merrill, Bank, America, Airlines, Bank of, Google, Samsung, Wells, Cell, Mastercard, Chevron

Introduction to the Bank of America® Unlimited Cash Rewards Credit CardThe Bank of America® Unlimited Cash Rewards Credit Card is one of the best Bank of America credit cards for those seeking a no-annual-fee card that earns 1.5% cash back on all purchases. Bank of America® Unlimited Cash Rewards Credit Card Benefits and FeaturesThe Bank of America® Unlimited Cash Rewards Credit Card doesn't have a ton of extra perks, but there are a few worth noting. Bank of America® Unlimited Cash Rewards Credit Card ComparisonThe Bank of America® Unlimited Cash Rewards Credit Card is a solid option, but many cards in its league offer comparable benefits. Bank of America® Unlimited Cash Rewards Credit Card Frequently Asked QuestionsIs the Bank of America Unlimited Cash Rewards card easy to get? Why You Should Trust Us: How We Reviewed the Bank of America® Unlimited Cash Rewards Credit CardThe Bank of America® Unlimited Cash Rewards Credit Card is a purely cash-back-earning credit card.

Persons: Merrill Cash, Merrill There's, Cash, Wells, Read, Merrill, you'll Organizations: Business, Bank of America, The Bank of America, of America, Merrill, Bank, America, Bank of America's, Apple, Google, Samsung, Wells, Chase, Chase Travel, Merrill Cash Management, Mastercard, Chevron Locations: Bank, Wells, U.S, Chevron

The information for the following product(s) has been collected independently by Business Insider: U.S. Bank Shopper Cash Rewards™ Visa Signature® Card, U.S. Bank Cash+® Visa Signature® Card. U.S. Bank Shopper Cash Rewards Card ReviewCash-back cards are some of the best credit cards out there, and the brand-new U.S. Bank Shopper Cash Rewards could be a new crowd favorite. U.S. Bank Shopper Cash Rewards Card Benefits and FeaturesLED TechnologyIn a unique twist, U.S. Bank is piloting a version of the U.S. Bank Shopper Cash Rewards that has LED-powered technology built into the card's plastic. U.S. Bank Shopper Cash Rewards Card Fees and CostsThe U.S. Bank Shopper Cash Rewards has a 18.74-28.74% Variable APR. U.S. Bank Shopper Cash Rewards Card ComparisonWe compared the U.S. Bank Shopper Cash Rewards to other popular cash-back cards to see how they stack up in terms of rewards and benefits.

Persons: cardholders, you'll, you’ve, takeout, Williams, Cardholders, Uber, You'll Organizations: Business Insider, U.S . Bank, Bank, . Bank, Walmart, Target, Business, EV, Amazon, Cash, U.S, Bank Rewards, Visa, Service, American Express, ® Wells, Chase Travel, Home, Ikea, Sonoma, Emergency, Capital, Disney Locations: U.S, Chevron

Wells Fargo Active Cash Card ReviewThe Wells Fargo Active Cash® Card earns 2% cash rewards on purchases, and without any hoops to jump through. Wells Fargo Active Cash Card RewardsWells Fargo Active Cash welcome bonus offerNew cardholders can earn a $200 cash rewards bonus after spending $500 in purchases in the first three months from account opening. Wells Fargo Active Cash Card ComparisonCiti Double Cash vs Wells Fargo Active CashIf you're considering this card, you'll want to also look at its closest competitor, the Citi® Double Cash Card, which earns 1 point per dollar (1% cash back) when you buy, plus 1 point per dollar (1% cash back) when you pay your bill. Chase Freedom Unlimited vs Wells Fargo Active CashIf you don't mind juggling a few bonus categories, the Chase Freedom Unlimited® could be a good alternative to the Wells Fargo Active Cash® Card. Wells Fargo Active Cash Card Frequently Asked Questions (FAQ)Is the Wells Fargo Active Cash card a good credit card?

Persons: It's, Wells, you've, —, you'll, You'll, cardholders, Read, Uber, Cash Organizations: Business Insider, Citi, Wells, American Express, Wells Fargo, Cell, Cash, Chase, Chase Travel, Capital, Walmart, Target Locations: Wells, Wells Fargo, drugstores, U.S, Chevron

In a few days, bankrupt Tokyo-based bitcoin exchange Mt. Disbursements will be in a mix of bitcoin and bitcoin cash, an early offshoot of the original cryptocurrency. Gox — short for "Magic: The Gathering Online Exchange" — was once the largest spot bitcoin exchange globally, claiming to handle around 80% of all global dollar trades for bitcoin. Gox users would likely translate to huge sales in bitcoin as investors look to lock in gains. Vijay Ayyar, head of consumer growth for Asia-Pacific at crypto exchange Gemini, said that the overall impact of the Mt.

Persons: Omer Taha Cetin, that's, Disbursements, bitcoin, Gox, —, John Glover, Glover, James Butterfill, bitcoin's, Gemini, Lennix Lai, Butterfill, Bitcoin, Jacob Joseph, Joseph, Alex Thorn, Thorn, Vijay Ayyar, Gox disbursement, Ayyar Organizations: Anadolu, Getty, CNBC, bitcoin, Barclays, CoinShares, Gemini, JPMorgan, Arkham Intelligence, Analysts, U.S . Securities, Exchange, Federal Reserve Locations: Tokyo, Gox, Mt, bitcoin, Asia, Pacific

Users of collapsed bitcoin exchange Mt. At the height of its success, the platform was the largest spot bitcoin exchange in the world, claiming to handle around 80% of all global dollar trades for bitcoin. Gox creditors creates "downside risk" next month, though it would be short-lived. Gox creditors take place in July, [this] creates a trajectory where crypto prices come under further pressure in July, but start rebounding from August onwards," the analysts wrote. Gox creditors opted for in-kind reimbursement has to do with the tax implications.

Persons: Kiyoshi Ota, Gregory Greene, Greene, Bitcoin, Greene's, John Glover, Ledn, Glover, Gox, Alex Thorn, They'll, Roger Ver, Blockstream, Adam Back, Greg Maxwell, Bruce Fenton, Thorn, there's, There's, Luke Nolan, CoinShares, JPMorgan Organizations: Bloomberg, Getty, Mt, CNBC, bitcoin, Online, Galaxy Digital, Bitcoin, Barclays, JPMorgan Chase, Gox Locations: Gox, Illinois, bitcoin, Mt

☆ US pushes for $50 billion loan to Ukraine using frozen Russian assets ahead of G7 summit
▼ + stars: | 2024-06-09 | by ( Mj Lee | ) edition.cnn.com time to read: +3 min

The ultimate goal, sources said, is to iron out some of the thorniest financing details in the coming days so that an agreement can be announced as part of the G7 leaders’ communiqué this week. US officials argue that the dire situation for Ukraine makes the approval of such a loan deeply urgent. We believe it’s a priority for the entire G7,” Biden’s national security adviser Jake Sullivan told reporters last week. Biden met with Zelensky as his administration announced a $225 million security assistance package for Ukraine. The delay, US officials have said in recent months, undoubtedly resulted in Ukraine losing valuable ground on the battlefield.

Persons: Joe Biden’s, Biden, ’, Vladimir Putin, Jake Sullivan, Volodymyr Zelensky, Zelensky, ” Biden Organizations: CNN, Ukraine Locations: Ukraine, Italy, Canada, France, Germany, Japan, Russia, United States

☆ Harbor Lab, a Greek startup trying to help ships manage port costs, just raised $16 million using this 10-slide pitch deck
▼ + stars: | 2024-05-15 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Harbor Lab, which aims to help the shipping industry streamline port costs, has raised funding. Founded in 2020 in Athens, the startup has brought in a $16 million Series A led by Atomico. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHarbor Lab, a startup that aims to help the shipping industry reduce costs related to entering port, has raised $16 million in Series A funding.

Persons: Atomico, — Organizations: Service, Harbor Lab, Business Locations: Athens

☆ AI needs to keep cool—literally. That's driving demand for these infrastructure companies
▼ + stars: | 2024-05-08 | by ( Seema Mody | ) www.cnbc.com time to read: +2 min

The advent of artificial intelligence has sent demand for data centers skyrocketing, along with industrial components to keep all the AI chips from overheating. "The key for chipmakers with AI ambitions is keeping data centers cool," Melius Research analyst Jake Levinson told CNBC. Levinson said cooling technologies manufacturers Carrier Global , Trane Technologies and Johnson Controls are all seeing higher demand for HVACs. Then there are the companies that create the infrastructure used to regulate temperature – from Parker-Hannafin's fluid connectors to Dover's industrial-style pumps used in liquid cooling. "We're having to challenge ourselves and how we support that capacity growth," CEO Scott Strazik told CNBC after the company posted first-quarter earnings last month.

Persons: Jake Levinson, Levinson, DOV, Stephen Volkmann, Volkmann, Scott Strazik, He's, I've, we've Organizations: CNBC, Carrier Global, Trane Technologies, Johnson, Jefferies, Caterpillar, Cummins, GE Vernova, GE Locations: Parker

If you already have life insurance, consider adding funeral or burial insurance, also known as "final expense" insurance. Final expense insurance, also called burial or funeral expense insurance, covers end-of-life expenses like the funeral service, body preparation, cremation, the casket or urn, transportation, etc. Types of final expense policiesBesides term and permanent life insurance, final expense insurance comes in several forms. Final expense life insurance is for those who might be in poor health and can't qualify for traditional life insurance. Final expense life insurance FAQsWho should consider final expense life insurance?

Persons: you'll, It's Organizations: AARP, Consumers Alliance, Colonial Penn, Mutual, Life Insurance, Chevron Locations: Colonial, Omaha, Illinois

☆ I'm a former JP Morgan exec who now works to distribute basic income payments to those in need. Here's why I do it.
▼ + stars: | 2024-04-22 | by ( Katie Balevic | ) www.businessinsider.com time to read: +4 min

Wole Coaxum is the CEO of MoCaFi, which has distributed over $52 million in basic income payments. I thought, "How can I use my time and talents, which is financial services, to bring an economic justice agenda to the social justice agenda?" Related storyMartin Luther King, Jr. talked about universal basic income and guaranteed basic income just before he passed away, and I feel that we as a company are very fortunate to be standing on the shoulders of others to bring these powerful ideas into the marketplace. Some of them are through MGI, Mayors for a Guaranteed Income. Why is a universal basic income that much different?

Persons: Morgan, —, Wole Coaxum, JP Morgan, Ferguson, Martin Luther King, Jr, they've Organizations: Service, Corporation, JP Locations: Los Angeles, Atlanta, San Francisco, MGI

☆ Parent of FTX victim who lost $130,000 asks judge to go easy on SBF, suggests six years in prison versus DOJ's 40-50
▼ + stars: | 2024-03-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +7 min

Former FTX CEO Sam Bankman-Fried arrives for a bail hearing at Manhattan Federal Court on August 11, 2023 in New York City. Michael M. Santiago | Getty ImagesHeather Ferguson's son lost approximately $130,000 in cash when crypto exchange FTX went bankrupt in November 2022. Ferguson's letter is part of an eleventh hour push by the defense to appeal to Kaplan's sense of leniency as the judge gears up for Bankman-Fried's sentencing hearing on Thursday. Bankman-Fried's psychiatrist, George Lerner, told Judge Lewis Kaplan in a letter in August that the former FTX CEO has a history of depression and attention-deficit/hyperactivity disorder. Without his medication, Lerner warned the judge, "Bankman-Fried will experience a return of his depression and ADHD symptoms and will be severely negatively impacted in his ability to assist in his own defense."

Persons: Sam Bankman, Fried, Michael M, Heather Ferguson's, Ferguson, District Judge Lewis Kaplan, Yesha Yadav, Dean, Kaplan, George Lerner, Lewis Kaplan, Lerner, Maria Centrella, Asperger's, Judge Kaplan, Michael Lewis's, Sam I, …, Centrella, Joe, Sam, Matt Kelly, Kelly Organizations: Manhattan Federal Court, Santiago, Getty, District, Alameda Research, Vanderbilt University, CNBC, Bankman, Autism, MIT Locations: New York City, Manhattan

☆ Trump's lawyers are hunting for the identities of secret consultants who approved Russiagate Pulitzer Prizes
▼ + stars: | 2024-03-07 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +15 min

AdvertisementIn an overlooked lawsuit, Donald Trump's lawyers are exhibiting a habit from his White House days: Hunting for anonymous sources. At each turn, a lawyer for the Pulitzer Board members stopped their clients from answering. The journalists whom Trump's lawyers deposed did, however, offer some characterization of the "consultants" who conducted the reviews. The Pulitzer Prize Board is hosted by Columbia University, in Manhattan, which manages the small organization's payroll and offers institutional support. Chad Bowman, a Ballard Spahr attorney representing the Pulitzer board members, directed Business Insider to court filings.

Persons: Donald Trump, —, Donald Trump's, Trump, Pulitzer, Robert Mueller, Quincy Bird, Katherine Boo, Boo, Chad R, Bowman, Ballard Spahr, don't, Marjorie Miller, Miller, Weber, Crabb, Wein, Neil Brown, David Remnick, Nicole Carroll, Lee Bollinger, Kevin Merida, Viet Thanh Nguyen, Lee C, Bollinger, David Ake Trump's, Gail Collins, John Daniszewski, Bird, Daniszewski, Dana Canady, doesn't, Bebeto Matthews, Collins, we've, John Durham, Hillary Clinton, James Comey, Brown, Chad Bowman, Ballard, Evan Vucci Trump, Christopher Steele, Jeff Gerth's, Gerth, You've Organizations: Service, Business, The New York Times, Washington Post, American, The Washington Post, Pulitzer, Times, Post, PAC Trump, Columbia University, Mar, Poynter Institute for Media Studies, Tampa Bay Times, New Yorker, Los Angeles Times, Associated Press, Global Enterprise, New, AP, Katherine Boo , New York Times, Trump, Republican, Columbia Locations: Russia, Chad, Manhattan, Florida, USA, New York City, Mar, Katherine Boo ,, New York, Palm Beach , Florida, United States, Washington, DC

☆ Biden Administration lists 17 factors that could qualify student loan borrowers for relief due to financial hardship
▼ + stars: | 2024-02-29 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

President Joe Biden and his administration are continuing their efforts to provide student debt relief to as many borrowers as possible. At this point in the process — which involves a number of discussions with various stakeholders including borrowers, advocacy groups, lawmakers and more — the rulemaking committee has identified five groups of borrowers who should be considered for debt relief. It struggled to come to an agreement on how to define hardship that would render a borrower eligible for relief. As a result, the administration extended negotiation talks and added sessions in February to address the question of hardship. You may notice there aren't explicit thresholds listed for things like "household income" or when considering debt to income ratios.

Persons: Joe Biden, haven't, Pell Grant Organizations: Higher, Federal, Federal Student, Department of Education, CNBC

☆ Rich parents want to give to charity and leave more money to their kids. Here's how billionaire families do it.
▼ + stars: | 2024-01-29 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

Read previewWhen the rich give to charity, they find a way to get the most bang for their buck. If the trust assets are invested and achieve an annual rate of return of 9% a year, the CLT's remainder will be $2.1 million. Advertisement"It's a fantastic low interest rate play," said Renn. "The problem now is rates have really risen and it's to the point where some investments clearly can outperform a 4% or 5% interest rate, but others might struggle." In this interest rate environment, charitable remainder trusts (CRTs) have better odds.

Persons: —, Jacqueline Kennedy Onassis, Walton, Lance Morgan, Ed Renn, I've, Renn, Dan Griffith, Griffith, CLTs, Onassis, CLATs, Alice, Jim Walton, Rick T, Jennifer Galvagna, Michael Prinzo, they're Organizations: Service, Tax, Business, Bloomberg, Huntington Private Bank, Walmart, Bank of America Private Bank Locations: Withersworldwide, CLTs, Fayetteville , Arkansas, Israel, Palestine

☆ How the superrich, like Walmart's Waltons, get richer by using trusts to give to charity and save on tax
▼ + stars: | 2024-01-23 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

If the calculations predict that the trust's remainder interest is zero, the beneficiaries are exempt from estate tax even if the assets actually appreciate by a greater amount. If the trust assets are invested and achieve an annual rate of return of 9% a year, the CLT's remainder will be $2.1 million. Advertisement"It's a fantastic low interest rate play," said Renn. "The problem now is rates have really risen and it's to the point where some investments clearly can outperform a 4% or 5% interest rate, but others might struggle." In this interest rate environment, charitable remainder trusts (CRTs) have better odds.

Persons: —, Jacqueline Kennedy Onassis, Walton, Lance Morgan, Ed Renn, I've, Renn, Dan Griffith, Griffith, CLTs, Onassis, Jennifer Galvagna, Michael Prinzo, they're Organizations: Service, Tax, Business, Bloomberg, Huntington Private Bank, Bank of America Private Bank Locations: Withersworldwide, CLTs, Israel, Palestine

☆ 3 Amazon sellers who got started with less than $5,000 share the strategies they used to scale from zero sales to six-figures
▼ + stars: | 2024-01-13 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

If you're looking for an extra income stream, selling products online is one option. Courtesy of Sahaj DhingraDuring the summer between his sophomore and junior years of college, Sahaj Dhingra did $100,000 worth of Amazon sales in three and a half months. One strategy he implemented about a month after launching helped him scale quickly: He started listing products before buying the inventory. Shan Shan Fu used Etsy as a testing ground for what would sell best on AmazonShan Shan Fu, founder of Millennials In Motion. Courtesy of Shan Shan FuShan Shan Fu sold enough socks and tights on Amazon that she felt comfortable leaving corporate America to work for herself.

Persons: Sahaj Dhingra, Jatin Naran, Jatin Naran Jatin Naran, Naran, Fu, Shan, Shan Fu Organizations: Business, Costco, Amazon, Google, Millennials Locations: College, Dhingra, London, America

☆ A 20-year-old college student brought in $125,000 in 7 months doing retail arbitrage on Amazon. He explains how he got started with $3,000 upfront.
▼ + stars: | 2024-01-05 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

Low-risk retail arbitrage is time-intensive, however. He had a few summer vacation months ahead: the perfect opportunity to scale a retail arbitrage operation. With FBA, he wouldn't have been able to list products until Amazon received them, which would have killed his strategy of listing products before purchasing inventory. Dhingra, now 20, is in his junior year at VCU and focused on other entrepreneurial projects since retail arbitrage requires so much time. He has reinvested 100% of his profits back into the arbitrage business, he said: "I haven't taken a single disbursement from my business checking.

Persons: Sahaj Dhingra, Dhingra, it's, Perrier, Nestlé, it'll, wouldn't, He'd Organizations: YouTube, Amazon, Costco, Walmart, Business, Virginia Commonwealth University, VCU, UPS, USPS Locations: Virginia, Dhingra

☆ Harry Maguire: Manchester United defender accepts Ghana MP’s apology for mockery
▼ + stars: | 2023-11-23 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

Reuters —Manchester United footballer Harry Maguire on Wednesday accepted the apology of a Ghanaian MP who mocked him during a parliamentary debate on the budget last year. Opposition lawmaker Isaac Adongo compared Vice-President Mahamadu Bawumia’s economic management of the embattled West African nation to Maguire’s performance on the pitch. “I now apologize to Harry Maguire,” Adongo said. “See you at Old Trafford soon,” he wrote, referring to the home of Manchester United. Bawumia heads the government’s economic management team as has been selected as the ruling party candidate for 2024 elections.

Persons: Harry Maguire, Isaac Adongo, Mahamadu, Adongo, Bawumia, Maguire, “, ” Adongo, …, ” Maguire, ” Organizations: Reuters, Manchester United, Wednesday, Ghanaian, International Monetary Fund, IMF, Fund Locations: West, Ghana, Old Trafford

☆ IMF board approves $178 mln loan to Malawi
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Malawian Finance and Economic Affairs Minister Sosten Gwengwe speaks at the State Department in Washington, DC, U.S., September 28, 2022. Kevin Wolf/Pool via REUTERS/File Photo Acquire Licensing RightsBLANTYRE, Nov 15 (Reuters) - The International Monetary Fund's executive board has approved a loan of about $178 million for Malawi, with an immediate disbursement of about $35 million, the IMF said in a statement on Wednesday. "The decision is a big breather for us and our economy," Finance Minister Simplex Chithyola Banda said in a telephone interview with Reuters. The IMF programme will unlock more financial support from development partners, Malawian President Lazarus Chakwera said in a televised national address late on Wednesday. The World Bank could give Malawi $60 million for trade finance, a $217 million package linked to fiscal reforms and $250 million for agriculture, Chakwera said.

Persons: Sosten Gwengwe, Kevin Wolf, Banda, Lazarus Chakwera, Chakwera, Frank Phiri, Anait Miridzhanian, David Gregorio, Sandra Maler Organizations: Finance, Economic Affairs, State Department, Rights, Monetary Fund's, Malawian, Simplex, Reuters, IMF, Bank, Thomson Locations: Washington , DC, Rights BLANTYRE, Malawi

Mendoza, a former fighter for the now-disbanded Revolutionary Armed Forces of Colombia (FARC) guerrillas, dragged her children back inside the house. In interviews with Reuters, those people recounted how the attacks left conservation projects adrift, with conservationists withdrawing from environmental protection works because of fear of more violence. Municipal data from local environmental authorities and the Colombian Institute of Meteorology (IDEAM) also showed that in the year after each killing, deforestation at a local level was worse than national trends. Santofimio's killing brought his hard-fought conservation project to a halt. In the tree nursery, which stopped work after Santofimio's killing, saplings bask in the dappled sunlight beneath protective nets.

Persons: Duberney Lopez, Jorge Santofimio, PUERTO, Leidy Mendoza, Mendoza, Jorge !, they'd, Susana Muhamad, Muhamad, Colombia's, –, Armando Aroca, Santofimio, Lopez, Kevin Murakami, Comuccom, Aroca, Javier Franciso Parra, Francisco couldn't, Andres Felipe Garcia, Cormacarena, Parra, Garcia, Luisz Martinez, Martinez, La, KfW, Roberto Gomez, Gonzalo Cardona, Sara Ines Lara, Oliver Griffin, Julia Symmes Cobb, Katy Daigle, Claudia Parsons Organizations: Revolutionary Armed Forces, Colombian, Villagers, Reuters, Environment Ministry, Global, Colombian Institute of Meteorology, Comuccom, International Narcotics, Law, Affairs, U.S, National Liberation Army, UN, Programme, Meta, UNDP, Progress, World Wildlife Fund, Security, USAID, Thomson Locations: Colombia, PUERTO GUZMAN, Putumayo, Bogota, La, Meta, La Macarena, Amazonia, Puerto Guzman

☆ Argentina used Chinese yuan for part of its payment to the IMF as US dollars remain scarce
▼ + stars: | 2023-11-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Argentina leaned on its $18 billion currency swap line with China to cover part of an IMF payment, sources told Reuters. This isn't the first time yuan was used to help meet IMF debt requirements. Argentina had 1.4 billion in SDR available last month, and used Chinese yuan to help close the gap, according to Reuters. Between June and July, $2.8 billion worth of yuan was used to help meet IMF obligations. And as Argentina taps Chinese yuan to repay the IMF, it's also using IMF money to repay China.

Persons: —, it's, Javier Milei, Sergio Massa Organizations: Reuters, Service, International Monetary Fund, IMF, People's Bank of, Development Bank of Latin Locations: Argentina, China, Buenos Aires, American, People's Bank of China, Qatar, Development Bank of Latin America, Argentine

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