Excessive debt 'life-threatening' for France, PM tells parliament

 France's excessive debt pile is "life-threatening" for the country, Prime Minister Francois Bayrou said Monday as he defended billions of euros of budget cuts ahead of a confidence vote expected to bring down his government. 

Ukraine Faces Potential Default in August Amid Stalled Debt Negotiations

Ukraine may declare a fiscal default as early as August if authorities fail to reach an agreement with creditors on debt restructuring, a deal that seems unlikely, British magazine The Economist reported on Monday.

Kremlin warns West against using frozen Russian assets as collateral for Ukraine

The Kremlin on Monday warned the West that any attempt to use frozen Russian assets as collateral to raise funds for Ukraine would be illegal and lead to years of litigation because Moscow would challenge any such action.

UNESCO approves US proposal to rejoin organization without completely settling its debt

The 193 member states of the United Nations Educational, Scientific and Cultural Organization (UNESCO) approved on Friday during an Extraordinary Session of the General Conference, the proposal submitted by the United States to rejoin the organization.

Treasury Secretary Warns US House Members of 'Economic Collapse' from Default

US Treasury Secretary Janet Yellen urged members of the US House of Representatives on Friday to raise the federal debt ceiling without conditions, warning that a default on US debt would cause "economic and financial collapse".

Ukraine expected to keep paying debt: IMF

The International Monetary Fund (IMF) expects Ukraine to continue to service its foreign debt, an IMF spokesperson has said, as speculation grows that Kyiv could default on its debt as the battle against Russia’s invasion rages on.

Russia misses deadline on debt payments

Russia has missed the deadline on payment of its foreign-currency sovereign debt for the first time in a century as the 30 day grace period on about $100m of two bond payments due on May 27 expired on Sunday.

UK’s Public Debt Goes Over $2.6 Trillion Amid COVID-19 Crisis - Tasnim News Agency

The UK government deficit is on course to hit a peacetime record in 2020-21 as the country continues to battle against the economic effects of the coronavirus pandemic.