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Debt Relief

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NEWS
October 7, 2011
The idea of "debt relief" ("Time to forgive us our debt?" Oct. 5) is disheartening and disturbing. Ideas to assist people who lost their jobs to keep their homes are compassionate and have merit. Rewarding reckless, spendthrift spending habits is disgusting to anyone who sacrificed, scrimped and saved to buy a house within their means, went to a college they could afford, or (God forbid) paid cash for their needs! Paul D. Belz, Timonium
ARTICLES BY DATE
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | September 17, 2012
KEYW Corp., a Hanover-based defense contractor that offers cybersecurity and counterterrorism solutions to government agencies, said Monday that it will sell 6.5 million shares of stock in a new public offering to raise money to pay down debt and complete a recently announced company acquisition. The publicly traded company said last week that it intended to acquire Poole & Associates Inc., of Annapolis Junction, for $126 million in cash and stock. The company last week also announced the acquisition of Sensage Inc., of Redwood City, Calif., for nearly $35 million in cash and stock.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | November 7, 2011
Tens of thousands of Marylanders could benefit from two initiatives by the Obama administration that are designed to ease the burden of federal student loans. Under one, borrowers with low pay and high education debt could see a big drop in their monthly loan payments starting next year. The other nudges borrowers to consolidate certain federal loans, and also offers a small reduction in their interest rate for doing so. Some criticize the White House for failing to provide more relief to students overwhelmed by loans, particularly private student loans.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | November 7, 2011
Tens of thousands of Marylanders could benefit from two initiatives by the Obama administration that are designed to ease the burden of federal student loans. Under one, borrowers with low pay and high education debt could see a big drop in their monthly loan payments starting next year. The other nudges borrowers to consolidate certain federal loans, and also offers a small reduction in their interest rate for doing so. Some criticize the White House for failing to provide more relief to students overwhelmed by loans, particularly private student loans.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | September 17, 2012
KEYW Corp., a Hanover-based defense contractor that offers cybersecurity and counterterrorism solutions to government agencies, said Monday that it will sell 6.5 million shares of stock in a new public offering to raise money to pay down debt and complete a recently announced company acquisition. The publicly traded company said last week that it intended to acquire Poole & Associates Inc., of Annapolis Junction, for $126 million in cash and stock. The company last week also announced the acquisition of Sensage Inc., of Redwood City, Calif., for nearly $35 million in cash and stock.
BUSINESS
By BLOOMBERG NEWS | October 15, 2000
WASHINGTON - The World Bank and International Monetary Fund's debt relief program is flawed by its limited funding and the overly optimistic economic scenarios it predicts, a United Nations report said last week. Those flaws could leave the mostly African poor nations mired in debt even after getting some of their current debt written off, according to the United Nations Conference on Trade and Development's annual report on the world's 48 poorest countries. "The only way this can be addressed is by putting more money into debt relief," said Charles Gore, author of the U.N. report.
NEWS
By Jonathan Weisman and Jonathan Weisman,SUN NATIONAL STAFF | April 18, 2000
WASHINGTON -- As protesters raged yesterday at the World Bank and International Monetary Fund, a battle over debt relief for the world's most impoverished countries had reached a stalemate on the other side of the city -- on Capitol Hill. Demonstrators have loudly called on the rich nations that control the IMF and World Bank to forgive decades-old loans that have left Third World nations scrambling to make interest payments instead of meeting the needs of their citizens. A move in that direction is well under way in much of the industrialized world.
NEWS
November 12, 1998
THEIR economies ruined, Honduras and Nicaragua cannot begin reconstruction without massive forgiveness or postponement of their combined $10 billion international debt.They cannot possibly make payments for two years because the countries' production was wiped out by Hurricane Mitch. If they are penalized for not doing so, hopes of reconstruction from new borrowing will be set back.Needed airlifts of food and medicine are growing. The promise of U.S. Army engineers' help in erecting temporary bridges will help.
NEWS
By Tom Hundley and Tom Hundley,CHICAGO TRIBUNE | June 11, 2005
LONDON - Maybe it has nothing to do with Bob Geldof or Bono. But suddenly, debt relief for the impoverished countries of Africa is high on the political agenda in Europe and the United States. This weekend, finance ministers of the Group of Seven leading industrial nations - the G-8 minus Russia - are expected to announce an agreement in principle on a comprehensive plan to wipe the slate clean for 14 of Africa's poorest nations. The deal was put together in Washington this week during British Prime Minister Tony Blair's meeting with President Bush ahead of next month's G-8 summit in Scotland.
NEWS
By Janet Stobart and Janet Stobart,LOS ANGELES TIMES | February 6, 2005
LONDON - British Chancellor Gordon Brown said he had won the support of finance ministers from the world's wealthiest nations yesterday for his plan to offer debt relief for the world's poorest countries, but the United States balked at some elements of the package. "I believe this summit will be remembered as the summit for 100 percent debt relief," Brown told reporters at a news conference ending a two-day conference of government officials and business leaders from the Group of 7 countries - the United States, Canada, Japan, Germany, France, Britain and Italy.
NEWS
October 7, 2011
The idea of "debt relief" ("Time to forgive us our debt?" Oct. 5) is disheartening and disturbing. Ideas to assist people who lost their jobs to keep their homes are compassionate and have merit. Rewarding reckless, spendthrift spending habits is disgusting to anyone who sacrificed, scrimped and saved to buy a house within their means, went to a college they could afford, or (God forbid) paid cash for their needs! Paul D. Belz, Timonium
NEWS
By Desmond Tutu | May 7, 2008
Last month, the House of Representatives showed leadership in the fight against global poverty by passing the Jubilee Act for Responsible Lending and Expanded Debt Cancellation, which would extend lifesaving debt cancellation to more poor nations around the globe. Too many of the world's poor children needlessly starve or go without education because too many impoverished nations - even after the laudable debt relief provided to date - are still funneling scarce resources to multilateral banks instead of paying for needs at home.
BUSINESS
By KEN HARNEY | December 23, 2007
Reversing months of inaction in a single day, the Senate passed two major bills Dec. 14 that could help thousands of homeowners now struggling with unaffordable mortgages or heading for foreclosure. The long-stalled FHA Modernization Act - which would reduce down payments and raise maximum mortgage amounts for Federal Housing Administration-insured loans - passed the Senate by an overwhelming 93-1 vote. Senators also approved the Mortgage Forgiveness Debt Relief Act, which would remove the controversial tax on "phantom income" when lenders forgive portions of the balances on mortgages of financially stressed homeowners.
TOPIC
By Michael Hill and Michael Hill,SUN STAFF | June 19, 2005
It is a tale familiar to anyone who has lived in Africa. Someone is gainfully employed, bright, eager, ambitious, apparently ready to climb up capitalism's ladder. But it never happens. This poster child for free enterprise remains stuck on the bottom rung. Behind the facade of success is a deep abyss of need. Will a similar fate sap the power of a $40 billion African debt relief program just agreed to by the G-8 nations? The plan will free up about $1.5 billion a year that 14 sub-Saharan countries could use to attack widespread social and economic problems.
NEWS
By Tom Hundley and Tom Hundley,CHICAGO TRIBUNE | June 12, 2005
LONDON - Leaders of the world's wealthiest economies have reached a groundbreaking agreement on debt relief for some of the world's most impoverished economies. The historic deal, announced yesterday in London, will immediately wipe clean $40 billion worth of debt owed by 14 nations in Africa and four in Latin America. An additional nine countries could join the list in the next 12 to 18 months. "We are presenting the most comprehensive statement that finance ministers have ever made on the issues of debt, development, health and poverty," said Gordon Brown, Britain's chancellor of the exchequer.
NEWS
By Tom Hundley and Tom Hundley,CHICAGO TRIBUNE | June 11, 2005
LONDON - Maybe it has nothing to do with Bob Geldof or Bono. But suddenly, debt relief for the impoverished countries of Africa is high on the political agenda in Europe and the United States. This weekend, finance ministers of the Group of Seven leading industrial nations - the G-8 minus Russia - are expected to announce an agreement in principle on a comprehensive plan to wipe the slate clean for 14 of Africa's poorest nations. The deal was put together in Washington this week during British Prime Minister Tony Blair's meeting with President Bush ahead of next month's G-8 summit in Scotland.
TOPIC
By Michael Hill and Michael Hill,SUN STAFF | June 19, 2005
It is a tale familiar to anyone who has lived in Africa. Someone is gainfully employed, bright, eager, ambitious, apparently ready to climb up capitalism's ladder. But it never happens. This poster child for free enterprise remains stuck on the bottom rung. Behind the facade of success is a deep abyss of need. Will a similar fate sap the power of a $40 billion African debt relief program just agreed to by the G-8 nations? The plan will free up about $1.5 billion a year that 14 sub-Saharan countries could use to attack widespread social and economic problems.
NEWS
By NEW YORK TIMES NEWS SERVICE | September 17, 2000
WASHINGTON - In an era of unprecedented prosperity for rich nations, their financial leaders are promising a high-profile campaign to double the number of poor nations granted debt relief by year's end. The commitment would mean easing the conditions usually imposed on countries that want their debt forgiven, international financial officials said. The pledge, to be announced at the annual meeting of international lending agencies in Prague, Czech Republic, this week, is intended to defuse one of the most potent arguments of the anti-globalization protesters who have disrupted nearly every recent gathering of finance and trade ministers: In a time of dramatically increasing wealth, many of the poorest nations have become more deeply indebted to the rich.
NEWS
By Janet Stobart and Janet Stobart,LOS ANGELES TIMES | February 6, 2005
LONDON - British Chancellor Gordon Brown said he had won the support of finance ministers from the world's wealthiest nations yesterday for his plan to offer debt relief for the world's poorest countries, but the United States balked at some elements of the package. "I believe this summit will be remembered as the summit for 100 percent debt relief," Brown told reporters at a news conference ending a two-day conference of government officials and business leaders from the Group of 7 countries - the United States, Canada, Japan, Germany, France, Britain and Italy.
NEWS
By Warren Vieth and Warren Vieth,LOS ANGELES TIMES | April 26, 2004
WASHINGTON - World finance leaders agreed yesterday on the need to continue canceling the debts of poor countries and to provide more aid in the form of grants rather than loans, but critics said their pledges fell short of what was needed. The International Monetary Fund and the World Bank concluded two days of deliberations by declaring their intent to expand an existing debt-relief program and secure more funds to help developing countries achieve poverty-reduction goals. The recommendations, endorsed by members of a joint policymaking committee, will be taken up by the full membership of the two institutions in the fall.
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