In 2016 the per-capita out-of-pocket health care expenditure averaged $1,093 nationally. “That’s not an insignificant sum,” said Steven Lanza, professor of economics at the University of Connecticut. In comparison, up to 57 percent of Americans reported savings of less than $1,000, according to a 2017 GoBankingRates survey. The takeaway? Average Joe and Average Jane cannot afford to be sick.
There are now more than 11,400 shadow banking companies with a combined balance sheet worth around 22.1 trillion rupees ($304 billion) and their loan portfolios have grown at nearly twice the pace of banks, according to Reuters. In 2017, such lenders accounted for 66 percent of the funding provided to India’s commercial sector, up from 44 percent the year before, according to a report from Radhika Rao, economist at DBS Group Research.
Finance Minister Mohamed Maait has said Egypt was looking to sell around $5 billion in Eurobonds, possibly in the first quarter of 2019. But last month he announced a roadshow starting next week to promote bonds in Asia and Europe.
The government appears to have been waiting in the hope that emerging market turbulence would blow over.
The most immediate economic problem is plugging the gaps in Brazil’s public coffers, which pushed the nation’s credit rating deep into junk terrain and its public debt to over 55 percent of its gross domestic product, or more than twice the level of emerging-market peers Turkey or Indonesia.
Lagarde said growing global debt — in emerging and developed economies — has reached an all-time high of $82 trillion, nearly 60% higher than 2007. The buildup of debt means governments and companies are more vulnerable to “a tightening of financial conditions,” she said.
Under Mr Kostin’s plan, Russian companies would move away from transacting in the US currency internationally in favour of roubles, euros and Chinese renminbi, though they would not abandon them entirely.
The national debt at the end of fiscal year 2017 was estimated to be at $20.25 trillion.
The cost of insuring exposure to Italian sovereign debt and the debt of the country’s largest lenders rose on Tuesday after an Italian lawmaker said most of the country’s problems would be solved if it returned to its own currency.
A fresh sell-off in Italian government debt, sent the yield on 10-year BTPs up by as many as 15 basis points to a peak of 3.442 per cent — a four-year high. It eased to 3.35 per cent in afternoon trade. As talks on a national budget between the parties of the governing populist coalition continue, Italian assets are expected to remain exposed to the process. Last week, proposals pointed to a higher-than-expected budget deficit of 2.4 per cent.
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