The Reserve Bank of India (RBI) has increased the collateral-free agricultural loan limit to ₹2 lakh, offering crucial financial relief to millions of Indian farmers struggling with rising input costs. This move, effective January 1st, 2025, is expected to significantly impact the agricultural sector and stimulate rural economic growth.
The United States is expressing growing concerns about China’s emergency loans to financially struggling countries, citing transparency issues. A senior Treasury official, Brent Neiman, is urging the International Monetary Fund (IMF) to demand greater clarity from China about its lending practices. This concern stems from the fact that these loans, often with high interest rates, can obscure a country’s true debt levels, making it difficult for institutions like the IMF to accurately assess their financial health.
Petro-Victory Energy Corp. has secured US$2.8 million in loans from three lenders, including 579 Max Ltd., Chris Cooper, and an arm’s length third party. The loans, bearing an annual interest rate of 14%, come with bonus warrants exercisable at CAD$1.25, providing potential upside for the lenders. The transactions were deemed related party transactions under MI 61-101 but were approved based on exemptions for listed companies.
Pakistan has revealed a startling figure – it has paid over USD 3.5 billion in interest on loans from the International Monetary Fund (IMF) over the past 40 years. This information was unveiled during a Senate committee meeting, where the Ministry of Finance presented details of loans and repayments made to the IMF. The revelation comes as Pakistan is poised to secure another IMF loan worth USD 7 billion, raising concerns about the country’s growing debt burden.
