Still, one of Mr. Emanuel's new appointees to the authority's board looked at the debt service payments due in the next 20 years and expressed concern that the problem could get far worse, even if tourism revived and hotel tax revenues rose again.
In exchange, Athens wants a 29 billion euro loan to cover all its debt service payments due in the next two years.
Russia wants to delay by six months a $855m combined debt-service payment, due on June 2nd.This time, however, Russia is dealing with different dogs, who may prove to have sharper teeth.
Its debt-service payments due in 2009 amount to 80% of its foreign reserves, the highest ratio of any big emerging economy.Russia has run current-account surpluses for many years, yet it has also been badly hit by an outflow of capital and a credit freeze.
But the money involved looks to be too little to help Argentina to meet some $17 billion in debt-service payments due next year.Prolonging the agonyA "sustainable Argentina" can only be one whose economy starts to grow again, after a crunching recession which has now lasted three years.
Debt servicing already uses up some 35% of government revenues.
Investors will worry about governments' ability to service their debt and will push up yields, making debt servicing even harder.
That figure, provided by the City Council staff, was higher because it includes payments the city will make before the end of this fiscal year on June 30, to cover debt service costs that come due in the next fiscal year.
You correctly acknowledge that the Metropolitan Transportation Authority will face large budget gaps due to the increased debt service in its new capital plan (editorial, May 4).
Just think about the negative impact a bond downgrade has on college finances -- and ultimately on students who will bear the brunt of increasing debt service through larger tuition increases and diminished access due to tightening financial aid practices.
