By Reuters Staff
2 Min Read
PARAMARIBO, Oct 8 (Reuters) - Suriname has tapped French investment bank Lazard Ltd to help the South American nation refinance its foreign debt, President Chan Santokhi said on Thursday.
The priority will be to seek a rescheduling and restructuring of two loans from investment bank Oppenheimer, Santokhi said at a news conference.
“It’s an amount of 550 million (U.S. dollars) plus 125 million in loans that the previous government had made, that we need to reschedule and bring them to a proportionally acceptable level,” Santokhi said.
Lazard will provide support for negotiations with international lenders including the International Monetary Fund and the World Bank, and will be tasked with helping find new capital for investment in Suriname, Santokhi said.
She and her husband have just over $50,000 in total debt, which includes student loans, medical bills, credit cards and a car payment. She s currently not working and her husband owns a landscaping company.
Bozarth admits she has never been good at sticking with a budget. She and her husband pay bills as they come in and buy stuff when they want. That includes grabbing take-out, buying fountain drinks at the gas station and making purchases on Amazon nearly every day. Those expenses add up quickly, and before you know it, you have spent hundreds [maybe thousands] of dollars on things that weren t necessary, she wrote to CNBC in an email.
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Treasury to back up depleted Land Bank State-owned agricultural lender seems set for a bailout even as SA struggles to stave off a debt crisis amid the ongoing Covid-19 pandemic BL PREMIUM 11 January 2021 - 05:10 Garth Theunissen
The beleaguered Land Bank, which defaulted on R50bn of its debt in April last year, appears set for another state bailout even as the government battles to stave off a fiscal debt crisis amid a worsening Covid-19 pandemic that has strained its finances to breaking point.
The state-owned bank, SA’s biggest agricultural lender, reported an annual loss of more than R2.8bn for the year ended March 31 2020, according to financials posted on its website shortly after the early 12pm market close on New Year’s Eve. The results showed nonperforming loans almost doubled to R8.18bn, accounting for 18.1% of the Land Bank’s total gross loan book of R45.142bn.