U.S. private equity company Apollo Global Management has ended talks with the administrators of British financing company Greensill after a JPMorgan investment in Greensill's technology partner, two sources familiar with the talks said.
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WELLINGTON, March 12 (Reuters) - The New Zealand government on Friday reiterated plans to introduce property cooling measures after the IMF warned that “unsustainable” house price rises could trigger a pronounced correction.
Finance Minster Grant Robertson said the government will address the issue of the elevated house prices in the coming weeks and in the 2021 budget later this year.
The country’s success in managing COVID-19 has enabled a faster economic recovery than other countries, but a slew of monetary and fiscal stimulus measures has super-charged property market values.
The International Monetary Fund’s warning, in a staff report released on Friday, comes as New Zealand’s median prices for residential property rose by a record 22.8% year-on-year in February, according to the latest data from the Real Estate Institute of New Zealand (REINZ).
Post-Brexit Britain has overtaken India to become the fourth most favoured investment destination according to a survey of chief executives of more than 5,000 companies, PricewaterhouseCoopers Chairman Bob Moritz said on Friday.
Argentina's bonds have slid to basement lows in recent weeks, but analysts and investors warn that they're still no bargain, given stalled talks with the IMF, fears about a pre-mid-term election spending binge and dry weather denting crops.
By Reuters Staff
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JOHANNESBURG, March 12 (Reuters) - South Africa is “no way near debt distress”, central bank governor Lesetja Kganyago said on Friday, despite the country’s debt-to-GDP ratio nearing the 100% mark seen as a red line for investors and credit rating agencies.
Kganyago, speaking live online during an African Development Bank panel discussion, however warned of the dangers of implementing fiscal austerity during a prolonged contraction of the economy.
“Debt is an outcome of your fiscal policy stance, so for as long as you are running a fiscal policy deficit you will have debt,” Kganyago said. “(But) it could actually be self-defeating if you try to implement fiscal consolidation during a growth crisis.”