Korea s national debt snowballing amid pandemic aftershock
Posted : 2021-04-06 17:02
Updated : 2021-04-06 19:28
Kang Seung-joon, center, chief of the finance ministry s Fiscal Management Bureau, speaks during a briefing at the Government Complex Sejong, Tuesday. Yonhap
By Lee Min-hyung
Korea s government liabilities approached an all-time high of 2,000 trillion won ($1.78 trillion) in 2020 after authorities carried out an unprecedentedly strong level of anti-COVID-19 pump-priming measures, the Ministry of Economy and Finance said Tuesday.
According to a year-end audit report, the nation s total liabilities surged by 241.6 trillion won to reach 1,985.3 trillion won in 2020, compared to the previous year. Last year is the first time since 2012 that the figure surpassed 100 percent of the GDP, which came in at 1,924 trillion won last year.
April 6, 2021
An Indian real estate company famous for its connection with Donald Trump and infamous for a junk debt rating in 2019 is finally set to list on Indian stock exchanges.
Riding on the ongoing stock market boom, Macrotech Developers, formerly known as Lodha Developers, will launch its initial public offering (IPO) on BSE and the National Stock Exchange tomorrow (April 7). The company which stalled its IPO first in 2009 and then in 2018 due to unfavourable market conditions is now looking to raise Rs2,500 crore ($341 million) via the public listing.
This is the second-biggest IPO by a real estate firm in India after Haryana-based DLF’s Rs9,187 crore listing in 2007. Macrotech Developers plans to use the IPO proceeds for repaying debt and buying land for future projects.
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Existing investors DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group, and Sofina also participated in the new round, while Insight Partner is the new entrant to Cred s cap table. I m very happy to share that three months after our Series C, continued interest from leading institutional investors has resulted in us closing a Series D, Shah said in the note, reviewed by ET. While valuation is a milestone that many celebrate, we view it as a responsibility and an opportunity to create member value, added Shah, who founded Cred in 2018.
Where do these things fundamentally come from? Siegel asked.
He had a hunch that it has to be some outcome of evolution.
Indeed, in one of the biggest research endeavors into the causes of our financial behavior, Siegel studied some 30,000 identical and fraternal twins from Sweden, and ultimately found that the most powerful determiner was our genes. More than differences in parenting or socioeconomic status, our financial habits are shaped by our DNA. I never thought of connecting finance with biology, he said, but added that it only made sense to do so. We are just another species.
What does it mean, then, if a large share of our financial behavior is inherited and therefore out of our control? It reveals that as important as financial education can be, it should also be paired with tools and structures that help people overcome their tendencies to, say, overspend or delay saving, experts say.