Your English writing platform
Discover LudwigExact(16)
A default occurs when a country (or company) can't make a debt payment.
Without fresh financial support it will struggle to make a debt payment due in July.
The plan also calls for spending $1.9 billion before the current fiscal year ends, on June 30, to make a debt payment owed in 2010.
But A123, which has received federal grant money, said the Wanxiang deal was never completed, and on Monday, it failed to make a debt payment due on $75 million it had borrowed from Wanxiang.
The British bank Standard Chartered said it had abandoned a plan to rescue its $7 billion structured investment vehicle, Whistlejacket, which was placed into receivership last week and failed to make a debt payment due on Friday.
In August, eurozone finance ministers released €26bn of the €86bn in bailout funds that went to recapitalising Greece's stricken banking sector and make a debt payment to the ECB.
Similar(43)
The governor also urged the Legislature today to make a debt-reform law passed last year an amendment to the State Constitution.
It is time to make a debt-free higher education available to all.
The House will vote on Tuesday on a plan that would make a debt-ceiling increase conditional on deep spending cuts, firm caps on future spending and congressional passage of a balanced budget amendment to the Constitution.
Greece moves closer to default after telling the IMF it will not be making a debt repayment of €300m due the next day.
"Once realistic economic assumptions are made, a debt write-off of as much as 50% is needed to bring the debt-to-GDP ratio down to a sustainable level," he said.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com