By Reuters Staff
2 Min Read
BERLIN (Reuters) - Germany is set to continue massive deficit-spending in the COVID-19 pandemic with a debt-financed supplementary budget of some 60 billion euros for this year and a 2022 draft budget with net new debt of 81.5 billion euros, a document showed on Monday.
FILE PHOTO: German Social Democratic party (SPD) candidate for chancellor Olaf Scholz attends a two-day party meeting in Berlin, Germany February 7, 2021. Tobias Schwarz/Pool via REUTERS
A third wave of coronavirus infections linked to a more infectious virus variant and a slow vaccination rollout are complicating efforts to further ease lockdown measures. This, in turn, increases costs for the federal government as it has already extended various rescue and aid measures.
5 Min Read
BANGKOK (Reuters) - Thai farmer Jamras Kongchai is struggling to pay off 500,000 baht ($16,082) in debt as money from the sale of her crops is not enough to make payments.
FILE PHOTO: People wearing face masks shop for street food in Chinatown amid the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand, January 6, 2021. REUTERS/Athit Perawongmetha/File Photo
Adding to the strain, the coronavirus outbreak has shut a small construction firm where she worked for $10 a day for much needed extra income.
“I’m so heavily indebted and don’t know what to do,” said the 51-year-old, single mother of two, who travelled from the northern province of Kamphaeng Phet to join a demonstration of indebted rice growers in Bangkok late last month, asking the government to help reduce their debt burden.
By Reuters Staff
2 Min Read
(Reuters) - U.S. money market funds saw strong demand for the second week in a row as concerns over higher U.S. bond yields and rising COVID-19 cases in Europe sent investors to safer avenues.
FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won
The prospect of losses for U.S. banks, following hedge fund Archegos Capital’s default on margin calls, also had market participants concerned.
U.S. money market funds received a net $50.35 billion in the week to March 31, after an over $60 billion inflow in the previous week, data from Refinitiv Lipper showed.
Foreign investors turned net sellers of Japanese equities in the week ended March 26, as concerns about fresh lockdowns in Europe due to rising coronavirus cases stoked fears of a slowdown in economic recovery.