Sentences with phrase «of local government debt»

The Chinese Ministry of Finance (MoF) recently rolled out another muni replacement program of legacy local government debt, as the previous muni replacement quota of RMB 1 trillion only addresses about half of the local government debt that is due to expire in 2015.

Progress in a few areas has been solid: slashing of bureaucratic red tape has led to a surge in new private businesses; full liberalization of interest rates seems likely following the introduction of bank deposit insurance in May; Rmb 2 trillion (US$ 325 billion) of local government debt is being sensibly restructured into long - term bonds; tighter environmental regulation and more stringent resource taxes have contributed to a surprising two - year decline in China's consumption of coal.

Not exact matches

Beijing and the World Bank officially claim China's government debt remains very manageable, at less than 20 % of GDP — far below levels in the industrial world — but the truth is, local governments are piling on new debt at a staggering pace.

China is confident of fending off systemic debt risks as it strengthens control over local government debt, Finance Minister Xiao Jie said.

In an era when the pension liabilities of local governments remain a concern, investors may want to consider the debt offered by established public enterprises — airports and utilities, for example — as an attractive alternative to lease revenue and pension obligation bonds.

As a perverse reward for its rapid growth and heavy infrastructure investment, China is starting to face some of the trials of mature economies: a stagnant workforce, a real estate bubble, and high local government debt levels.

debt obligations of the U.S. government that are issued at various intervals and with various maturities; revenue from these bonds is used to raise capital and / or refund outstanding debt; since Treasury securities are backed by the full faith and credit of the U.S. government, they are generally considered to be free from credit risk and thus typically carry lower yields than other securities; the interest paid by Treasuries is exempt from state and local tax, but is subject to federal taxes and may be subject to the federal Alternative Minimum Tax (AMT); U.S. Treasury securities include Treasury bills, Treasury notes, Treasury bonds, zero - coupon bonds, Treasury Inflation Protected Securities (TIPS), and Treasury Auctions

Excessive government debt will stifle economic growth regardless of whether its stashed in local or central government balance sheets and if a province's fiscal situation should become unsustainable — although that's not in the cards in the near future — it'll likely be up to federal government to foot the bill for a bailout.

The cost of borrowing in China has been cut aggressively since the autumn of 2014 in response to the slowdown in the economy and the distress caused to property owners, local government and corporations by high debt - servicing costs.

Even assuming, as the Parliamentary Budget Office does, that Ottawa's debt will steadily shrink and disappear around 2040, provincial, territorial and local governments are on track to swell Canada's total public debt to the equivalent of 100 per cent of GDP by 2070.

Taken together with local government borrowing and other obligations, China's gross government debt could be as much as 60 % of gross domestic product, says UBS China economist Wang Tao.

(The balance is made up of debt owed by local governments and the Canada and Quebec pension plans.)

In contrast, according to the Parliamentary Budget Officer, the provincial, territorial and local government sector does not have a sustainable fiscal structure, even though their aggregate debt - to - GDP ratio is currently under 30 per cent, but expected to rise significantly due to the impact of an ageing population on their finances.

Indeed, the stock of local currency government debt securities outstanding for a representative sample of Asian markets has increased five-fold over the past 15 years (it's hard to go back much further).

Total government sector net debt consists not only of the net debt of the federal government but also that of the provinces, territories, local governments and the Canada and Quebec Pension Plans.

[9] Nonetheless, for emerging Asian economies there has tended to be a positive association between increased foreign holdings of local currency government debt and growth in onshore FX derivatives turnover.

The local government's crippling debt of more than $ 73 billion and PREPA's own obligations of $ 9 billion made it hard to keep up with critical maintenance like trimming tree branches away from power lines, let alone make upgrades to make the energy network.

I disagree completely, and not just because transferring bad debt from local governments to the central government, while undoubtedly reducing the probability of a legal default, does not in the slightest way address the cost of resolving the bad debt.

Some believe that the Chinese financial system, and perhaps the shadow banking system more specifically, took a number of wrong steps, compounded by the lack of discipline among local governments, and created a debt problem.

In the 2006 Budget, the government promised to reduce the deficit by $ 3 billion per year; to reduce the federal debt - to - GDP ratio to 25 per cent by 2012 - 13; to eliminate the total government sector debt (which includes the federal, provincial and local governments as well as the Canada and Quebec pension plans) by 2021; and finally, to keep the growth in program expenses below the rate of growth in nominal GDP.

The few problems affecting the overall health of the Chinese economy include local government and corporate debts, bloated state sector and a fragile property market, among others.

debt obligations of the U.S. Government with maturities of 10 years or longer; coupon interest for Treasury bonds is exempt from state and local taxes, but is federally taxable; interest income may also be subject to alternative minimum tax

The vast stimulus programme launched at the end of 2008 to counter the world financial crisis restored growth but led to wholesale misallocation of capital into wasteful projects that earn scant returns, the vast debt problem affecting companies as well as local governments, and also created soaring excess capacity in sectors such as steel production.

The government's strategy continues to be to lengthen the debt maturity and increase the share of pure local currency - denominated debt.

In particular, $ 3.8 trillion worth of trust products, which local governments and property developers riddled with debt, used to raise money from the Chinese public have been stymied, with two specific types of trust products having reportedly had to delay payments as liquidity has dried up.

The iShares International Treasury Bond ETF tracks a market weighted index of local currency non-US government issued debt.

The Nordic local government funding agencies — set up to provide low cost and stable funding for public investments in Denmark, Finland, Norway and Sweden — are amongst Europe's most creditworthy and important issuers of SSA debt.

DEBT Pension Deficits: While Private plans have an estimated deficit of just $ 465 billion, Public plans of local, state and the federal government in the US are estimated to have something like $ 1.6 trillion!

Ahead of the next congress of the Chinese communist party in October, where President Xi Jinping will unveil his new leadership team, there have been indications that Chinese policymakers have increasingly shifted their emphasis away from potentially disruptive reforms aimed at reducing excessive debt levels, particularly among local governments, and toward stabilizing the level of economic growth.

Already Buhari has started giving excuses for the abysmal performance.He attributed the quagmire to drop in the price of oil globally and cleverly laid the blame on the doorsteps of all Nigerian accusing them of relying solely on oil.All renowned rating agencies including fitch continue to downgrade Nigeria ever since Buhari took over and it is projected that Nigeria will not be able to repay its debt obligations.Fitch for instance downgraded Nigeria's longterm foreign currency issuer default rating to B + from BB - and longterm local currency IDR to BB - from BB.The general position expressed by almost all the Briton wood institutions is that Nigeria's fiscal and external vulnerability has worsened under Buhari and it is projected that the government's general fiscal deficit could grow up to 4.2 % by the end of 2016 after averaging 1.5 % under the previous regime.A recent capital importation report by Nigeria Bureau of Statistics confirms that, last year, the country recorded total inflow of capital into the economy stood at $ 9.6 billion which was a 53 % drop from previous year and the lowest recorded total since 2011.

Without urgent and ambitious government intervention, NEA estimates that in the next 15 years the cumulative effect will be 125,000 premature deaths as a result of living in cold homes; # 950m of fuel debt which will not be spent in local economies; and # 22 billion spent by the NHS in treating cold - related conditions.

This further distorted financial markets, increased local government debt, improved infrastructure rather than skills and delayed the growth of private domestic consumption, which everyone agrees must replace investment and exports as the driver of Chinese growth.

«Within minutes, a significant body of town and local leaders came forward to urge me to stay on and work with the board to address internal issues and, in particular, to carry on my work regarding my Local Government Fiscal Modernization program and the proposed refinancing of town debt expected to achieve a savings of over three quarters of a million dollars over the remaining life of the debt,» stated Quilocal leaders came forward to urge me to stay on and work with the board to address internal issues and, in particular, to carry on my work regarding my Local Government Fiscal Modernization program and the proposed refinancing of town debt expected to achieve a savings of over three quarters of a million dollars over the remaining life of the debt,» stated QuiLocal Government Fiscal Modernization program and the proposed refinancing of town debt expected to achieve a savings of over three quarters of a million dollars over the remaining life of the debt,» stated Quigley.

Despite significant cost pressures on local government, our relentless pursuit of value for money has meant that we have cut council spending by # 7 million (or 4 per cent) in cash terms, cut the workforce by 18 per cent (or 950 full - time equivalent employees) and cut the council's debt by # 20 million.

Mr. Solomon has over 25 years of experience working with state and local governments in developing successful capital finance, debt management, budget and credit rating strategies.

- Administering the New York State and Local Retirement System for public employees, with more than one million members, retirees and beneficiaries and more than 3,000 employers; - Acting as sole trustee of the $ 129 billion Common Retirement Fund, one of the largest institutional investors in the world; - Maintaining the State's accounting system and administering the State's $ 12.6 billion payroll; - Issuing reports on State finances; - Managing the State's assets and issuing debt; - Reviewing State contracts and payments before they are issued; - Conducting audits of State agencies and public benefit corporations; - Overseeing the fiscal affairs of local governments, including New York City; - Overseeing the Justice Court Fund and the Oil Spill Fund Acting as custodian of more than $ 9 billion in abandoned property and restoring unclaimed funds to their rightful owLocal Retirement System for public employees, with more than one million members, retirees and beneficiaries and more than 3,000 employers; - Acting as sole trustee of the $ 129 billion Common Retirement Fund, one of the largest institutional investors in the world; - Maintaining the State's accounting system and administering the State's $ 12.6 billion payroll; - Issuing reports on State finances; - Managing the State's assets and issuing debt; - Reviewing State contracts and payments before they are issued; - Conducting audits of State agencies and public benefit corporations; - Overseeing the fiscal affairs of local governments, including New York City; - Overseeing the Justice Court Fund and the Oil Spill Fund Acting as custodian of more than $ 9 billion in abandoned property and restoring unclaimed funds to their rightful owlocal governments, including New York City; - Overseeing the Justice Court Fund and the Oil Spill Fund Acting as custodian of more than $ 9 billion in abandoned property and restoring unclaimed funds to their rightful owners;

Instead of using government money to service existing bad debt, the Post Bank would provide stable finance where it is needed most, in the heart of our local economies.

According to the Ghana Integrity Initiative, the African Automobile cars left to rot at the Institute of Local Government Studies even after the Judgment Debt Commission has concluded its work and some indicted officials by the Commission still holding public positions shows that the country has not put in enough effort and commitment in tackling corruption.

Sometimes described as collectively constituting a «shadow government,» public authorities are essentially arms of government free from debt limits and other provisions that circumscribe the activities of local and state governments.

School districts and local governments have voiced concerns that a 2 percent cap as proposed by Cuomo — and approved by the Republican - led Senate in January — would be too difficult to live within because of required spending for debt, health care administration and distribution and pensions.

«We are dismayed at the rate at which the APC government is plunging the nation into debt through local and foreign borrowing without concomitant developmental projects in any sphere of the nation's economy to justify the huge borrowing.

The WFP, which is closely aligned with the radical group ACORN, is composed of a variety of public employee unions and special interest organizations that oppose fiscal reform in state and local government and promote increasing spending, raising taxes, and expanding debt to bloat the public workforce.

The comptroller is the sole trustee of a $ 184.5 billion pension fund covering more than 1 million government workers and retirees, and oversees an office with more than 2,600 employees that audits state and local governments, administers state government's $ 15 billion payroll, and reviews contracts and issues debt.

«This debt was accrued for the provision of various services such as fumigation, compensation for GYEDA [Ghana Youth Employment Development Agency], sanitation garbs, the provision of landfill management services, as well as debts arising from contracts with the ministry of Local Government and Rural Development and Metropolitan Municipal, and District Assemblies.»

The scoring system is based on nine variables, including the local government's level of short - term debt and deficits.

The police repression directed towards senator Sani increased when he as the chairman of the senate committee on local and foreign debts, successfully spoke against permitting the World Bank to grant multimillion dollars loan to the Kaduna state government.

Puerto Rico's need for such extensive debt relief could raise borrowing costs for other local governments if investors become more wary of lending.

The Assembly is therefore seeking a bailout from the Ministry of Sanitation and Water Resources, the Ministry of Local Government and Rural Development, as well as the Ministry of Finance to settle the debt.

The Chairman, Senate Committee on Local and Foreign Debts, Senator Shehu Sani, has warned the Federal Government to put in place short - term measures to cushion the effect of the current economic crisis on the Nigerian masses or risk the lives of the people before he completes his reforms.

Now, with the island facing the prospect of rising seas and rising debt, the government has embarked on a campaign to cut its crippling food bill by encouraging local production.