By Reuters Staff
2 Min Read
LONDON (Reuters) - The Paris Club of international creditors said on Monday it had accepted a request from Kenya for a debt-servicing suspension from January to the end of June.
“Kenya is committed to devote the resources freed by this initiative to increase spending in order to mitigate the health, economic and social impact of the COVID19-crisis,” the Paris Club said in a statement on its website.
Kenya is also committed to seeking from other bilateral official creditors debt-servicing treatment in line with the agreed terms of the Debt Service Suspension Initiative (DSSI) of the G20 group of rich nations and big emerging powers, the creditors added in their statement.
Thursday, 21 Jan 2021 07:44 PM MYT
Former Federal Reserve Chairman Janet Yellen speaks during a panel discussion at the American Economic Association/Allied Social Science Association (ASSA) 2019 meeting in Atlanta, Georgia, US, January 4, 2019. Reuters pic
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WASHINGTON, Jan 21 At US Treasury Secretary-designate Janet Yellen’s confirmation hearing Tuesday she nodded to the need for the federal debt to be put on a “sustainable” path, at least eventually.
Her more extensive comments defending President Joe Biden’s US$1.9 trillion (RM7.7 trillion) coronavirus spending plan, however, reflected a steady shift in economists’ thinking about the mountains of government debt across the developed world that has been underway for a decade and has roots in the near collapse of the euro zone.
Forget about the amount being borrowed, Yellen, a former Federal Reserve chair, told members of the Senate Finance Committee. Focus instead on the interest rate being paid and the returns it will generate, an approach that argues the country s future economic.
Pictet Asset Management enlists Finsemble to overhaul fixed-income, FX workflows
The Swiss bank’s asset management division has been working with Cosaic for a bit over a year, and has used Finsemble to automate heavy workflows in FX pricing, money market yields, and credit. Print this page
For Carl James, global head of fixed income at Pictet Asset Management, the pull and promise of desktop application interoperability seemed blindingly obvious. A little over a year ago, he made the first move to bring interop into the fold, as he sought to simplify cumbersome cross-application workflows.
James runs a team of 17 traders across four desks at the buy-side arm of Swiss bank Pictet Group. It was around the end of 2019 that he and David Harvey, head of trading technology at Pictet