The U.S. Senate on Saturday passed President Joe Biden's $1.9 trillion COVID-19 relief plan in a party-line vote after an all-night session that was delayed repeatedly as the Republican minority tried but failed to push through around three dozen amendments.
3 Min Read
LUSAKA (Reuters) - Zambian authorities formally requested a financing arrangement from the International Monetary Fund (IMF), the Fund said on Tuesday, to help the southern African copper producer navigate a debt crisis.
FILE PHOTO: Zambia s President Edgar Lungu attends a signing ceremony at the Elysee Palace in Paris, France, February 8, 2016. REUTERS/Philippe Wojazer/File Photo/File Photo
Zambia became Africa’s first pandemic-era sovereign default last month after it failed to pay a $42.5 million coupon on one of its Eurobonds.
Zambia’s presidency released a photo of President Edgar Lungu meeting with the head of the IMF’s Africa department Abebe Selassie in the capital Lusaka on Tuesday.
Mexican state oil company Petroleos Mexicanos (Pemex) said on Tuesday that it has ended a contract with credit ratings agency Fitch Ratings, less than a week after it posted a 2020 fourth quarter result that underwhelmed investors.
3 Min Read
HOUSTON, March 3 (Reuters) - Eight energy companies have failed to pay nearly $1 billion for power and services during February’s deadly power blackout in Texas, the state’s grid operator said this week, and the costs are likely to fall on consumers.
A winter-storm surge in demand saddled the companies that sell, transmit and generate electricity in the state with about $47 billion in costs as fuel prices soared. Texas consumers will see higher prices as the unpaid fees are passed along to remaining providers.
Power grid operator Electric Reliability Council of Texas (ERCOT) last week said grid users it did not identify had failed to pay $2.46 billion due. ERCOT identified eight companies that had failed to pay a total $930,000 this week, including Brazos Electric Power Cooperative.