The COVID pandemic and ensuing recession have marked an end to the dynamics in household borrowing that have characterized the expansion since the Great Recession, which included robust growth in auto and student loans, while mortgage and credit card balances.
Credit Suisse said the credit cycle in India is at an earlier stage compared to all other markets in the region. “The scope for rate cuts is greater than in perhaps every other market save Indonesia,” the brokerage said.
Cimpress plc: Cimpress Amends Credit Facility and Ends Covenant Suspension Period
Cimpress plc (Nasdaq: CMPR) amended its senior secured credit facility and has elected to end the related covenant suspension period implemented in April 2020. During the height of pandemic-related uncertainty last year, we suspended the financial maintenance covenants associated with our senior secured bank debt to provide flexibility to navigate the pandemic, said Sean Quinn, executive vice president and chief financial officer. That flexibility came at the price of taking on expensive second lien debt. We have since proven our ability to deliver solid profits and cash flow despite the significant impact of the pandemic. Between March 31, 2020 and December 31, 2020, we repaid approximately $400 million of debt while continuing to fund significant growth investments, both organically and through acquisition, which we believe will deliver value-creating growth on the other side of the pandemic. We
Forty-one percent of all adults in the United States are struggling according to a recent study.
The coronavirus crisis has made it clear how important a financial cushion can be.
It s called the 50-30-20 rule. It s a budget where half of your take-home pay should go to housing and other cost of living expenses like groceries and utilities. Then 30% goes to recreation and entertainment like take out and going out. The remaining 20% should go right into savings. If 20% seems too high, take baby steps and start with 5%.
The best way to save is to BOOST YOUR SALARY. Try learning a new skill. Look to online courses, which are exploding right now.
There Is No Better Soft Power than Demining
In the battle to win hearts and minds, ten million dollars spent on demining operations in a country is more effective than ten times that amount dedicated to conferences, roundtables, and inclusion programs.
China continues to entrap developing countries with debt-trap diplomacy: It offers easy money upfront while demanding strategic assets as collateral. The fifty main developing countries receiving Chinese loans saw their debt increase from one percent of their GDP in 2005 to over 15 percent in 2017. African liability can be especially high. At the end of 2019, Djibouti’s debt to China was in excess of 70 percent of that strategic country’s gross domestic product, and perhaps even higher. The Republic of Congo’s debt to China was equivalent to 40 percent of its GDP. Niger and Zambia are not far behind. Ethiopia owes half its external debt to China and, even after China canceled interest-free loans it had granted Ethiopia through