People pass by an entrance to Google offices in New

Can’t pay, won’t pay: What now for Lebanon’s debt crisis?

By Marc Jones LONDON (Reuters) – Lebanon has bowed to the inevitable and said it won’t be honoring a $1.2 billion bond payment that was due on Monday. It will be its first default, but what options does one of the world’s most debt-strained countries now have? OPTION 1 – THE IMF Lebanon has been […]

Australia’s central bank slashes near-term growth forecast, still upbeat on long term

SYDNEY, (Reuters) – Australia’s central banks has slashed forecasts for economic growth in the near term to reflect the drag from bushfires and drought at home and the coronavirus in China, but expects a rapid recovery later in the year. In its quarterly economic outlook, the Reserve Bank of Australia (RBA) also said unemployment would […]

UK banks’ dollar demand rises to $3.555 billion: BoE repo operation

LONDON (Reuters) – British banks’ demand for U.S. dollar liquidity from the Bank of England rose to $3.555 billion on Tuesday, the central bank said. The figure was up from $5 million on Monday but lower than demand of $8.210 billion at a regular weekly operation on March 18, the most lent in a single […]