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Italy's public debt will rise despite on-track deficit

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ITALY

A Constitutional Court ruling outlawing the 2012 pension reform highlighted the risks of significant deviations from austerity policies. However, even with a budget deficit of 3…

Puerto Rican debt restructuring will see legal hurdles

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PUERTO RICO

The same day saw the release of a report, authored by former IMF economists, outlining a programme of structural reform and sweeping debt restructuring. Puerto Rico has seen its…

Ecuador’s reliance on China and the IMF will increase

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ECUADOR

The restructuring creates more fiscal space for President Guillermo Lasso as he attempts to bolster popular support, fend off political opposition and drive through liberal…

Argentine debt talks will be tense as doubts persist

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ARGENTINA

Speaking before Congress on February 13, Guzman said Argentina had the willingness but not the ability to repay debt. He proposed a gradual path to a balanced budget, to be…

France faces spending cuts amid rising debt

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FRANCE

The decision reflects doubts over Finance Minister Bruno Le Maire's four-year plan to “chill” state spending and reduce France's accumulated debt from 111.6% of GDP to 108.3% by…

Pressure will grow on Italy’s debt sustainability

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ITALY

Successful use of EU funds is vital to putting the economy on an improved trajectory, but Italy has a poor record on absorbing EU funds. Failure would compound the country's…

Recovery will depend on Greek cooperation with lenders

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GREECE

Greece’s relationship with its creditors.

Nigerian government faces critical revenue challenges

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NIGERIA

Combined federal, state and local government revenues stood at only an estimated 7.8% of GDP in 2018. With expenditure continually outpacing revenue, and the country's debt burden…

Italy's banks face twin test

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ITALY

Former Italian Prime Minister Matteo Renzi has suggested that Italy's next election should be held at the same time as Germany's (September), saying it made sense from "a European…

Modern monetary theory offers few novelities

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INT

Modern monetary theory.