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The federal government is pinning its new “fiscal anchor” to a rapid postpandemic recovery, with economic growth expected to put the government’s debt-to-GDP ratio on a downward trajectory over the next few years, despite continuing deficits.
Ottawa added more than $350-billion to its accumulated debt last year, and expects to run another deficit of $154.7-billion this year. Federal debt now stands at $1.08-trillion or 49 per cent of GDP, up from $721-billion or 31.2 per cent before the pandemic.
Five signs that you over-indebted and how to get help Updated
Poelano Malema
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There are many reasons why people take on debt, but sometimes it can get out of hand. In this article, we look at signs that show if you are over-indebted.
Debt/ iStock
Almost 80% of South Africans seek expensive unsecured loans
to help them meet their monthly financial obligations, reports Business Live.
There are different types of debts.
- Mortgage: The home you are financing secures the loan.
- Car loan: The car itself is the loan collateral.
- Home equity loan: Your home secures the debt.
Financial Debt Predicts Poor Mental Health Outcomes
A new study finds that difficulty repaying debt is associated with increased instances of common mental disorders.
A new study published
in Administration and Policy in Mental Health and Mental Health Services Research explores the two-way relationship between debt and common mental disorders (CMDs). On examining Netherlands’ adult population, the authors found the more difficult a debt was to pay off, the higher the likelihood of onset of CMDs.
The study was led by Margreet Ten Have of The Netherland Institute of Mental Health and Addiction. The authors write:
“Increasing levels of difficulty in repaying debts predicted onset of CMD at follow-up in those without 12-month CMD at baseline and persistence of CMD at follow-up in those with 12-month CMD at baseline.”
M&G Credit Income Investment Trust plc: Net Asset Value(s)
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20-Apr-2021 / 14:17 GMT/BST
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UAE grants extension in $2b loan repayment to Pakistan
Pakistan
Tue, Apr 20, 2021
Foreign Minister Shah Mehmood Qureshi and his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan during a meeting. Photo Courtesy: Jang
ABU DHABI: The United Arab Emirates (UAE) on Tuesday extended the deadline for the repayment of a $2 billion loan given to Pakistan in 2020.
UAE s Sheikh Abdullah informed Foreign Minister Shah Mehmood Qureshi about the decision of the UAE government regarding the extension in a meeting held in Abu Dhabi. It was due on April 19.
The UAE had provided $2 billion loan deposits in early 2020 to Pakistan as part of a bailout package to the government of Prime Minister Imran Khan.