junk bonds

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When Telecom Éireann (Eir) was privatised, the new owners borrowed heavily, reducing shareholder capital so that, ultimately, they couldn’t finance new investment

The last financial crisis taught us some of the risks to the economy when “financial engineering” gets out of hand. Property developers had borrowed n(...)

Recent unrest in Haiti – one of the Digicel’s most important markets. Photograph:  Valerie Baeriswyl/AFP/via Getty Images

Nicole Laframboise, an International Monetary Fund (IMF) economist, didn’t mince her words on Monday when she wrapped up the fund’s latest review of t(...)