Loans

    • UK eyes bad loans surge as easy Covid-19 money vanish

      UK eyes bad loans surge as easy Covid-19 money vanish

      Nothing is forever and that applies for debtors of UK banks as government stimulus programmes near their end. UK banks rushed to employ and train bad loans collectors on expected spike of problem credits. In the very near future the UK banks eye the expiration of £75bn emergency loans expiration, Reuters elaborated. The cash was disbursed with few or no questions asked to the applicants with the objective to achieve fast support of local businesses and households amid the pandemic led downturn.

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    • Pandemic drives UK budget deficit to a 75-year record

      Pandemic drives UK budget deficit to a 75-year record

      UK announced it had posted highest budget deficit since the end of World War II, AP reported. The record high negative result was due to increased borrowing and spending, focused at offsetting the influence of the Covid-19 pandemic, The Office for National Statistics said. The biggest spendings were linked to different government stimulus programmes. Public sector net borrowing reached 303.1 billion pounds in the financial year to end-March. This was equivalent to 14.5% of the country’s annual gross domestic product, the highest level since 1946, when the deficit hit 15.2% of GDP.

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    • Oligarch Prokopiev with a new plot to get out of debt

      Oligarch Prokopiev with a new plot to get out of debt

      Another plot to escape both an imminent bankruptcy and prosecution has been put into motion by the indicted oligarch Ivo Prokopiev. This one is similar to his desperate fleeing to Singapore in 2010-2013, when he posed as a victim of some supposed attempted murder in the works just so he can get out of hundreds of millions of levs in debt.

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