Congress Bailouts

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  • ISLAMABAD, Feb 4- Pakistan has shelved plans to privatise its power supply companies and will miss deadlines to sell other loss-making state firms, reneging on promises it made to the IMF in return for a $6.7 billion bailout three years ago. Two government officials with direct knowledge of the situation said International Monetary Fund officials who met...

  • ISLAMABAD, Feb 4- Pakistan has shelved plans to privatize its power supply companies and will miss deadlines to sell other loss-making state firms, reneging on promises it made to the IMF in return for a $6.7 billion bailout three years ago. Two government officials with direct knowledge of the situation said International Monetary Fund officials who met...

  • ISLAMABAD, Feb 4- Pakistan has shelved plans to privatise its power supply companies and will miss deadlines to sell other loss-making state firms, reneging on promises Islamabad had made to the IMF in return for a $6.7 billion bailout three years ago. Two government officials with direct knowledge of the situation said International Monetary Fund officials...

  • ATHENS, Greece— Tens of thousands joined anti-government protests in Athens Thursday as Greece was crippled by a general strike against a bailout-related overhaul of the country's ailing pension system. Unions are angry at pension reforms that are part of Greece's third international bailout. Thursday's general strike is the most significant the...

  • ISLAMABAD, Feb 4- Pakistan has shelved plans to privatise its power supply companies and will miss deadlines to sell other loss-making state firms, reneging on promises Islamabad had made to the IMF in return for a $6.7 billion bailout three years ago. Two government officials with direct knowledge of the situation said International Monetary Fund officials...

  • TOKYO, Feb 4- Sharp Corp board members are set to accept an offer by Taiwan's Hon Hai Precision Industry Co, rejecting a rescue plan by a Japanese state-backed fund, broadcaster NHK reported. The decision comes after months of uncertainty over the fate of the company, whose display panel business has continued to suffer massive losses despite two major bailouts...

  • ATHENS, Feb 3- International lenders were locked in talks with Greece in a crucial first assessment of compliance with bailout terms on Wednesday, the eve of a national strike called to protest at pension reforms mandated by the deal. Greece must introduce a raft of pension reforms to win a positive assessment from lenders of its level of adherence to conditions...

  • Greek journalists strike as part of anti-bailout action Wednesday, 3 Feb 2016 | 4:35 AM ET

    ATHENS, Greece— Greek journalists walked off the job Wednesday ahead of a general strike set to disrupt services across the country to protest pension reforms that are part of the country's third international bailout. The media strike pulled all news broadcasts off the airwaves and left news websites without updates, while no Thursday newspapers would be...

  • Unemployment has steadily improved since peaking at 15.1 percent in 2012, months before Ireland exited dependence on European and International Monetary Fund loans. Ireland faced bankruptcy in 2010 as the cost of rescuing six domestic banks crippled the country's ability to finance itself. The bailout gave Ireland time to restructure banks, repair its...

  • ATHENS, Feb 1- Greece's international lenders began reviewing on Monday its progress in implementing reforms set out in a multi-billion euro bailout deal to assess whether it has done enough to secure debt relief in future. Cash-strapped Greece is facing challenges on various fronts as it struggles to win public approval to overhaul the pension system and...

  • Representatives from Greece's European creditors and the International Monetary Fund began talks in Athens with Greek officials. In return for money from the country's third bailout, which was agreed last summer and is worth around 80 billion euros, Greece's left-led government has to meet a series of conditions, from reducing spending to enacting...

  • ATHENS, Greece— The Greek government enters a new round of talks with its creditors, skeptical about the depth and efficacy of its pension reform plans, facing protests over those plans from a broad spectrum of professions. Talks with the quartet of creditors— the European Commission, the European Central Bank, the European Stability Mechanism and the...

  • WASHINGTON, Jan 29- The International Monetary Fund said on Friday it is leaving the door open to large bailout loans for countries with questionable ability to repay debt, but has revised its rules for such rescues. Last week, the IMF ended the 2010 lending exemption that allowed major bailout loans to Greece, Ireland and Portugal and helped to ease a European...

  • European authorities want Portugal to keep cutting spending. The aim is to reduce the debt burden that forced Portugal to ask for a 78 billion-euro bailout in 2011. In return for the cash which prevented the country's bankruptcy, Portugal had to enact a series of spending cuts and tax increases that weighed on the economy and pushed unemployment sharply higher.

  • *ECB put Ireland under "undue pressure" to enter bailout. DUBLIN, Jan 27- Failures in banking, regulation and government policy directly caused Ireland's costly banking crisis and Europe's response made it worse, a parliamentary inquiry into the 2008 crash concluded on Wednesday. The banking crisis pushed Ireland into a three-year sovereign bailout in 2010...

  • TOKYO, Jan 22- A Japanese state-backed fund and Sharp's lenders are likely to agree on a new rescue plan worth around 650 billion yen for the struggling display maker by next weekend, sources with direct knowledge of the matter said on Friday. INCJ is offering to invest 300 billion yen in Sharp, while banks were expected to offer up to 350 billion yen in financing...

  • Brussels has on various occasions urged Portugal to come up with a draft as soon as possible after Lisbon missed a mid-October deadline due to an election. Portugal exited a bailout in 2014 after austerity and reform measures and the economic recovery that started then accelerated in 2015. Samuel da Rocha Lopes, professor at Nova University's business and...

  • ATHENS, Jan 16- Greek workers marched through the streets of Athens on Saturday to protest against the leftist-led government's planned pension reform, which the country's international creditors have demanded as part of its third bailout. Turnout in recent protests has been weak, mainly due to austerity fatigue and resignation after five years of...

  • ATHENS, Jan 16- Greek workers marched through the streets of Athens on Saturday to protest against the leftist-led government's planned pension reform which the country's international creditors have demanded as part of its third bailout. Turnout in recent protests has been weak, mainly due to austerity fatigue and resignation after five years of...

  • *Free cash could slip 40 pct to $15 bln by mid 2017- CFO. RIO DE JANEIRO Jan 15- Brazil's Petroleo Brasileiro SA is confident it can sell $15 billion in assets by year-end to pay off debt and limit further cuts to its investments as oil prices tumble to 12- year lows, executives from the state-led oil company said on Friday. While the financial challenges facing the...