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Ford Motor Co. faced a decline in shares after announcing that its earnings for the year would be at the lower end of its forecast due to high warranty costs. The company's adjusted earnings before interest and taxes are expected to be around $10 billion, down from the previous estimate of up to $12 billion. Ford's struggles with controlling costs have widened the gap between it and competitors like General Motors and Tesla, leading to a 10% drop in shares. Despite some positive aspects like revenue growth, Ford continues to grapple with high warranty expenses and other challenges in its operations. [Extracted from the article]

South Africa is currently in discussions with international climate-finance partners regarding loan guarantees for energy infrastructure projects. Joanne Yawitch, head of the project management unit for a $9.3 billion pact within the South African presidency, mentioned that progress is being made in securing this financing. The issue of guarantees has been a challenge due to the government's concerns about increasing contingent liabilities. Partners in this initiative include France, Germany, the UK, US, European Union, the Netherlands, and Denmark. [Extracted from the article]

Enbridge Inc. is engaging with Indigenous communities in Canada to discuss potential financial partnerships, following a successful C$1.12 billion stake sale in pipelines to Indigenous groups. The company is hosting a meeting in Edmonton to explore new mutually beneficial partnerships, emphasizing the importance of Indigenous economic participation in the energy sector. Enbridge's approach involves non-recourse debt financing and support from Indigenous loan guarantee programs, with a commitment to cover expenses for participating groups. Other Canadian energy companies, like TC Energy Corp., have also pursued similar partnerships with Indigenous communities to improve relations and advance economic reconciliation. [Extracted from the article]

The Biden administration is providing biofuel company Gevo Inc. with $1.46 billion in financing for a project in South Dakota that converts corn starch into jet fuel. This initiative aims to promote the production of sustainable aviation fuel, renewable diesel, and renewable naphtha. Additionally, the US Energy Department is offering $1.44 billion in financing to Montana Renewables LLC for expanding a renewable fuels facility in Montana. [Extracted from the article]

Shares of biofuel companies Gevo Inc. and Calumet Inc. saw significant increases after the Biden administration offered them billions in financing for sustainable aviation fuel projects. Gevo received a $1.46 billion loan guarantee for a facility in South Dakota that will produce jet fuel from corn starch, while Calumet's subsidiary in Montana received a $1.44 billion loan guarantee to expand a renewable fuels facility. This funding aligns with the Biden administration's goal of increasing domestic production of sustainable aviation fuel to reduce carbon emissions in the aviation sector. [Extracted from the article]

The Biden administration is providing biofuel company Gevo Inc. with $1.46 billion in financing for a project in South Dakota that converts corn starch into jet fuel. This initiative aims to promote the production of sustainable aviation fuel, renewable diesel, and renewable naphtha. Additionally, the US Energy Department is offering $1.44 billion in financing to Montana Renewables LLC for expanding a renewable fuels facility in Montana. [Extracted from the article]

Sweden's National Debt Office has stated that it will not activate $1.5 billion in credit guarantees for Northvolt AB, a battery manufacturer, due to the suspension of the expansion of its main factory. Northvolt has halted the build-out of its plant in northern Sweden in order to streamline operations and address financial difficulties. The company is now focusing on raising production at its main plant and is seeking financing to ensure its continued operation. The National Debt Office is open to new requests for credit guarantees as long as they comply with Sweden's regulations on green investments. [Extracted from the article]

Sweden's National Debt Office has stated that it will not activate $1.5 billion in credit guarantees for Northvolt AB, a battery manufacturer, due to the suspension of the expansion of its main factory. Northvolt has halted the build-out of its plant in northern Sweden in order to streamline operations and address financial difficulties. The company is now focused on raising production at the Skelleftea plant and securing financing to continue its operations. The National Debt Office is open to new requests for credit guarantees as long as they comply with Sweden's regulations on green investments. [Extracted from the article]

Sweden's National Debt Office has stated that it will not activate $1.5 billion in credit guarantees for Northvolt AB, as the guarantees were tied to a halted expansion of the battery manufacturer's main factory. Northvolt has paused the build-out at Skelleftea and put the project management unit into bankruptcy as it faces a cash crunch. The company plans to focus on raising production at its main plant near the Arctic Circle, but it is in need of financing to continue operations. The National Debt Office is open to new requests that meet Sweden's green-loan regulations, but Northvolt may face obstacles due to its financial difficulties. [Extracted from the article]

Sweden's National Debt Office has stated that it will not activate $1.5 billion in credit guarantees for Northvolt AB, a battery manufacturer, due to the halt of the expansion of its main factory. Northvolt has paused the build-out at Skelleftea and put the project management unit into bankruptcy. The company is now focusing on raising production at the main plant and seeking financing to address its cash crunch. The National Debt Office's guarantees were intended for the Skelleftea expansion and cannot be used for financing existing operations without approval. However, the office is open to new requests that comply with Sweden's green-loan regulations, which may pose a challenge for Northvolt as it is considered a "firm in difficulty" by the European Union. [Extracted from the article]

EVgo Inc., an electric vehicle charging company, saw a significant increase in its stock price after receiving a conditional loan guarantee of up to $1.05 billion from the US Department of Energy. This financing will enable EVgo to expand its network by building approximately 7,500 additional fast charging stalls across several states in the US. The Biden administration's goal of establishing a national electric vehicle charging network by 2030 is driving the need for low-cost financing to support the infrastructure build-out. EVgo currently operates nearly 1,000 fast-charging stations and has partnered with General Motors Co. to install an additional 400 stalls. [Extracted from the article]

EVgo Inc., an electric vehicle charging company, saw a 41% increase in its shares after receiving a loan guarantee of up to $1.05 billion from the US Department of Energy. This financing will enable EVgo to build around 7,500 fast charging stalls across several states in the US, including Arizona, California, Florida, Georgia, and Illinois. The Biden administration aims to establish a national electric vehicle charging network of 500,000 stations by 2030, and affordable financing for charging infrastructure is crucial for increasing EV adoption. EVgo currently operates nearly 1,000 fast-charging stations and has partnered with General Motors Co. to install an additional 400 stalls. [Extracted from the article]

EVgo Inc., an electric vehicle charging company, saw a 37% increase in its shares after receiving a loan guarantee of up to $1.05 billion from the US Department of Energy. The funding will enable EVgo to expand its fast charging infrastructure by building approximately 7,500 additional charging stalls across several states, including Arizona, California, Florida, Georgia, and Illinois. This loan commitment aligns with the Biden administration's goal of establishing a national electric vehicle charging network of 500,000 stations by 2030. [Extracted from the article]

EVgo Inc., an electric vehicle charging company, saw a significant increase in its stock price after receiving a conditional loan guarantee of up to $1.05 billion from the US Department of Energy. This financing will enable EVgo to expand its network by building approximately 7,500 additional fast charging stalls across several states in the US. The Biden administration's goal of establishing a national electric vehicle charging network by 2030 is driving the need for low-cost financing to support the infrastructure build-out. EVgo currently operates nearly 1,000 fast-charging stations and has partnered with General Motors Co. to install an additional 400 stalls. [Extracted from the article]

TC Energy Corp. has announced that it will compensate buyers of a C$1 billion bond deal that failed to close. The bond sale was intended to fund the purchase of an interest in TC Energy's natural gas infrastructure in western Canada. While the compensation is not significant to TC Energy, it is seen as an important outcome for the market's confidence and smooth functioning. The failed transaction is the first time a syndicated Canadian-dollar bond deal has been canceled. TC Energy's planned sale of a stake in its pipelines to an indigenous consortium is still expected to proceed. [Extracted from the article]

TC Energy Corp. has announced that it will compensate buyers of a C$1 billion bond deal that failed to close. The bond sale was intended to fund the purchase of an interest in TC Energy's natural gas infrastructure in western Canada, but the equity transaction was delayed. TC Energy will provide the compensation voluntarily, and it is not expected to have a significant impact on the company. This failed transaction is the first time a syndicated Canadian-dollar bond deal has been canceled. TC Energy's planned sale of a stake in its pipelines to an indigenous consortium is still expected to proceed. The article also mentions the potential for future equity purchases of infrastructure development by indigenous groups. [Extracted from the article]

The closing of a C$1 billion bond deal to finance an Indigenous group's purchase of a stake in a TC Energy Corp. natural gas pipeline system has been delayed. TC Energy did not provide a reason for the delay but stated that updates on the closing of the equity transaction will be provided when available. The bond deal, sold by Aspen Investments LP, drew significant interest from buyers, with orders covering more than three times the size of the offering. The transaction is backed by the provincial government of Alberta through the Alberta Indigenous Opportunities Corp., which is providing an equity loan guarantee. [Extracted from the article]

The US government's green bank, the Energy Department's Loan Programs Office (LPO), could face a significant shift in its funding priorities depending on the outcome of the upcoming US presidential election. If President Donald Trump is re-elected, there is a possibility that the LPO's lending program, which currently supports carbon-cutting technologies, could be used to fund fossil fuel and other energy projects favored by Republicans. This could have implications for the growth of emerging clean technologies and hinder the US energy transition. The LPO has received significant funding under President Joe Biden's administration and has made high-profile loans for projects such as battery plants and solar energy companies. However, a second Trump administration could potentially halt new loans, impacting the office's ability to support innovative energy projects. [Extracted from the article]

The company is similar to factoring firms that loan money against unpaid invoices so companies get paid faster, with differences that it says make accessing cash easier and cheaper for small businesses. Keywords: 0236393Z; 596856Z; ALLTOP; BUSINESS; COS; EXE; GEN; GENTOP; GOV; NORTHAM; POL; TOP; US; WORLD; WWTOP; WWTOPAM EN 0236393Z 596856Z ALLTOP BUSINESS COS EXE GEN GENTOP GOV NORTHAM POL TOP US WORLD WWTOP WWTOPAM RH86QJT0G1KW The former Georgia House minority leader has been touting her credentials as a serial entrepreneur who understands the needs of small businesses. [Extracted from the article]

An 11th-hour broadcasting deal has been struck to secure the finances of France's top football clubs. Nasser Al-Khelaifi, president of Paris Saint-Germain FC, convinced billionaire Len Blavatnik to increase an offer to show French Ligue 1 games on his sports streaming platform Dazn Group Ltd. Without this deal, no games would have been shown in France, potentially leading to bankruptcy for some smaller clubs. However, the deal has caused division among Ligue 1 owners, with some questioning Al-Khelaifi's methods and potential conflicts of interest. The deal is seen as a relief for the Ligue de Football Professionnel after previous failed negotiations. [Extracted from the article]

The World Bank has launched a new program to triple guarantees to $20 billion by the end of the decade. The program, hosted by the Multilateral Investment Guarantee Agency, aims to mobilize trillions of dollars in investments for development and climate projects in poor countries. The platform will provide credit risk coverage, trade finance guarantees, and political risk insurance for various types of projects. The program aligns with the World Bank's goals of providing electricity to millions of people in Africa, transitioning to renewable energy sources, and offering risk insurance for carbon credits. [Extracted from the article]

Enbridge Inc., a Canadian energy company, is collaborating with six indigenous groups to develop a wind farm in southeast Saskatchewan that will generate enough power for 100,000 homes. The Seven Stars wind project, with a capacity of 200 megawatts, is supported by a C$100 million loan guarantee from the Saskatchewan Indigenous Investment Finance Corp. This partnership reflects a growing trend of energy companies in Canada working with Indigenous communities, particularly when their operations impact indigenous lands. Enbridge aims to strengthen its relationships with the communities it operates in through various projects, including renewable energy initiatives. [Extracted from the article]

Enbridge Inc., a Canadian energy company, is collaborating with six indigenous groups to develop a wind farm in southeast Saskatchewan that will generate enough power for 100,000 homes. The Seven Stars wind project, with a capacity of 200 megawatts, is supported by a C$100 million loan guarantee from the Saskatchewan Indigenous Investment Finance Corp. This partnership reflects a growing trend of energy companies in Canada working with Indigenous communities, particularly when their operations impact indigenous lands. Enbridge aims to strengthen its relationships with the communities it operates in through various projects, including renewable energy initiatives. [Extracted from the article]

Enbridge Inc., a Canadian energy company, is collaborating with six indigenous groups to develop a wind farm in southeast Saskatchewan that will generate enough power for 100,000 homes. The Seven Stars wind project, with a capacity of 200 megawatts, is supported by a C$100 million loan guarantee from the Saskatchewan Indigenous Investment Finance Corp. This partnership reflects a growing trend of energy companies in Canada working with Indigenous communities, particularly when their operations impact indigenous lands, as a means of avoiding environmental and legal opposition. Enbridge is working with the newly formed Six Nations Energy Development LP, which includes the Cowessess First Nation, George Gordon First Nation, Kahkewistahaw First Nation, Métis Nation-Saskatchewan, Pasqua First Nation, and White Bear First Nations, who have the opportunity to acquire up to 30% of the project. [Extracted from the article]

The Labour Party, led by Keir Starmer, plans to offer mortgage guarantees to first-time buyers in an effort to help young Britons enter the housing market. Under Labour's proposal, the government would act as a guarantor for individuals who are unable to save for a large deposit, making permanent a current government scheme that offers 95% loan-to-value mortgages. The party's broader housing plan includes relaxing planning rules, constructing 1.5 million homes over the next five years, and increasing stamp duty for foreign buyers. Labour aims to address the increasing difficulty faced by young Britons trying to purchase their first homes, as data shows that the average age of first-time buyers has risen to 32 from 30 in the past decade, and the cost of housing has increased significantly. [Extracted from the article]

The Labour Party, led by Keir Starmer, plans to offer mortgage guarantees to first-time buyers in an effort to help young Britons enter the housing market. Under Labour's proposals, the government would act as a guarantor for individuals who are unable to save for a large deposit, making permanent a current government scheme that offers 95% loan-to-value mortgages. The party's broader housing plan includes relaxing planning rules, constructing 1.5 million homes over the next five years, and increasing stamp duty for foreign buyers. Labour aims to address the increasing difficulty faced by young people trying to buy their first homes, as data shows that the average age of first-time buyers has risen to 32 from 30 in the past decade, and the cost of homes has increased significantly. The housing market in Britain has experienced a downturn due to higher interest rates and a lack of affordability, leading to a decrease in development and difficulty for individuals in saving for a home deposit. Labour's program, called "Freedom to Buy," would guarantee part of the loan for first-time buyers and be fully integrated into the mortgage lending market. The party also plans to work with developers to prioritize local buyers in new developments. Labour's pledge to build 300,000 homes per year matches the promise made by the Conservatives in 2019, but experts have expressed doubts about the feasibility of this goal. With the general election approaching, the Conservative Party has sought to differentiate itself from Labour by promising to protect family homes from capital [Extracted from the article]

Senator John Barrasso, a top Senate Republican, has requested a government watchdog to investigate the $1.7 billion in financing offered to hydrogen company Plug Power Inc. Barrasso alleges potential conflicts of interest and risks to US taxpayers. The Biden administration offered Plug Power a conditional commitment for $1.66 billion in loan guarantees to build up to six facilities. Barrasso is concerned about the relationship between Plug Power's director and a lobbyist, as well as the company's financial viability after losing over $1.3 billion in 2023. Republicans have been targeting the Energy Department's loan program, aiming to find failures similar to Solyndra. [Extracted from the article]

Senator John Barrasso, a top Senate Republican, has requested a government watchdog to investigate the $1.7 billion in financing offered to hydrogen company Plug Power Inc. Barrasso alleges potential conflicts of interest and risks to US taxpayers. The Biden administration had offered Plug Power a conditional commitment for $1.66 billion in loan guarantees to build up to six facilities. Barrasso is concerned about the relationship between Plug Power's director, Jigar Shah, and a Plug Power lobbyist, as well as the company's financial viability. The Energy Department has responded by stating that Shah divested his shares in 2021 and that Plug Power has received financial assistance from previous administrations. [Extracted from the article]

Senator John Barrasso, a top Republican on the Senate energy committee, has requested a government watchdog to investigate the $1.7 billion in financing offered to hydrogen company Plug Power Inc. by the Biden administration. Barrasso alleges potential conflicts of interest and risks to US taxpayers. He is concerned about the relationship between Plug Power's director, Jigar Shah, and a lobbyist, as well as the company's financial viability after losing over $1.3 billion in 2023. Republicans have been targeting the Energy Department's loan program, aiming to find a failure similar to Solyndra in an election year. [Extracted from the article]

Roger Ver, a prominent crypto investor known as "Bitcoin Jesus," has been released on bail in Spain while facing extradition to the US on tax fraud charges. Ver is accused of failing to report capital gains and pay taxes on his Bitcoin holdings, resulting in at least $48 million in unpaid taxes. Despite renouncing his US citizenship, Ver was still required to file US tax returns on certain assets. Ver earned the nickname "Bitcoin Jesus" for his early advocacy of the cryptocurrency but left the Bitcoin community over a disagreement about its network function. [Extracted from the article]

George Weiss, the founder of hedge fund firm Weiss Multi-Strategy Advisers, is being accused by Jefferies Financial Group of owing more than $100 million in debt. Jefferies claims that Weiss personally guaranteed the debt to prevent his company from reversing a forbearance agreement. However, Weiss's lawyer denies that his client agreed to guarantee payment. Weiss Multi-Strategy Advisers filed for bankruptcy in April and is also suing Jefferies for $20 million. Jefferies alleges that Weiss and his companies owe at least $50 million in unpaid notes and revenue sharing fees. [Extracted from the article]

President Volodymyr Zelenskiy of Ukraine has signed long-term security agreements with German Chancellor Olaf Scholz and French President Emmanuel Macron. These agreements aim to deter future aggression from Russia against Ukraine after the current war ends. Germany has also announced a new package of air-defense and artillery systems worth €1.1 billion ($1.2 billion) for Ukraine, while France has pledged additional assistance worth up to €3 billion for this year. The agreements and military aid send a clear message to Russian President Vladimir Putin, according to Scholz. Ukraine is facing a shortage of artillery shells, which could lead to a narrower effort along the war front and potential advances by Russia. The US assistance remains deadlocked in Congress, and Ukraine may need double the military support from the European Union if more US assistance does not materialize. The effort to supply Ukraine with sufficient ammunition is becoming more difficult as Russia has scaled up its production capacity. [Extracted from the article]

China Vanke Co., a cash-strained developer, has announced that it will receive 7.8 billion yuan ($1.1 billion) of bank loans guaranteed by its units in order to meet business operations needs and avoid default. One of its subsidiaries, Shenzhen Yili Real Estate Development Co., provided a guarantee for a 4.49 billion yuan loan, while another unit, Shenzhen Zhongke Wanxin Industrial Co., issued a guarantee for a 3.29 billion yuan loan. Vanke is also applying for a 1 billion yuan loan from banks, to be guaranteed by real estate assets held by a fully owned subsidiary. The company's shares and bond prices have recently risen as it secures new bank credit lines. [Extracted from the article]

A recent string of defaults by Chinese property developers has raised concerns about the effectiveness of a state-backed credit-support program designed to boost confidence in the struggling property sector. The program, launched in 2022, was meant to help cash-strapped developers raise money in the public market by guaranteeing their bonds. However, recent defaults suggest that the program has not been as effective as initially expected. Despite its limitations, the program is still helping some surviving developers improve their liquidity. The Chinese government has been struggling to ease pressure on the property sector, which has been plagued by record defaults and unfinished projects. [Extracted from the article]

Indian opposition leader Arvind Kejriwal has criticized Prime Minister Narendra Modi's ruling party, saying that it is losing support in the ongoing national elections and will struggle to form the next government. Kejriwal, who was released on interim bail after being arrested on allegations of money laundering, believes that his Aam Aadmi Party will be part of the central government. Concerns about low voter turnout have been raised, but analysts say it does not necessarily indicate an advantage for either side. Despite expectations that Modi will win a third term, there has been speculation about how many terms he will ultimately contest, with Kejriwal suggesting that Modi will retire next year and Home Minister Amit Shah will become the next prime minister. [Extracted from the article]

Chinese developer Country Garden Holdings Co. has announced that it will not be able to meet the initial deadlines for interest payments on two local bonds. The company's onshore unit is unable to make the coupon payments on its 3.95% note and its 3.8% bond by the May 9 deadline. However, Country Garden has stated that a state guarantor, China Bond Insurance Co., will step in to fulfill its credit-enhancement responsibilities if the payments are not made within three working days. This situation raises concerns about whether other distressed developers in China's property crisis will also miss payments, putting pressure on the guarantor. Country Garden, once the largest developer in China, is currently facing financial difficulties and has a significant amount of liabilities. [Extracted from the article]

Chinese developer Country Garden Holdings Co. has announced that it will not be able to meet the initial deadlines for interest payments on two local bonds. The company's onshore unit is unable to make the coupon payments on its 3.95% note and its 3.8% bond by the May 9 deadline. However, Country Garden has stated that a state guarantor, China Bond Insurance Co., will step in to fulfill its credit-enhancement responsibilities. This situation raises concerns about whether other distressed developers under the state guarantee program will also miss payments. Country Garden has been heavily impacted by China's property crisis and currently has 1.36 trillion yuan of total liabilities. [Extracted from the article]

Chinese developer Country Garden Holdings Co. is seeking assistance from China Bond Insurance Co., a state-backed program, to pay the interest on two developer bonds. The payments, totaling 65.95 million yuan ($9.1 million), are due on May 9. This situation highlights the financial strain faced by Chinese developers, despite recent government measures to support the sector. Country Garden, which has been heavily impacted by the property crisis, is currently dealing with a significant amount of liabilities and has defaulted on offshore dollar notes. [Extracted from the article]

Chinese developer Country Garden Holdings Co. is facing a test of the state guarantee program for developer bonds, with two interest payments totaling 65.95 million yuan ($9.1 million) due this week. The program, introduced in August 2022, aims to help private developers avoid liquidity issues. While Country Garden has not missed payments on guaranteed securities, it recently missed payments on dollar notes and is currently fighting a liquidation petition. The program has issued 33 bonds so far, raising a total of 33.7 billion yuan, but most payments are not due until 2025 or 2026. Country Garden's financial situation is significant due to its size and the potential impact on the broader economy. [Extracted from the article]

Chinese developer Country Garden Holdings Co. is facing two bond-payment deadlines this week, which will test a state-sponsored program that guarantees debt from major builders. The company has payments due on May 9 on two yuan bonds, both of which are guaranteed by China Bond Insurance Co. If Country Garden were to have trouble making the payments, the government would be responsible, potentially leading to further payouts. The program aims to support a sector burdened by debt, with many developers facing a funding gap to complete pre-sold homes. Country Garden, once China's largest developer by sales, has been heavily impacted by the property crisis and currently has 1.36 trillion yuan of total liabilities. [Extracted from the article]

The US Export-Import Bank has approved a $500 million loan guarantee for an oil and gas development project in Bahrain, despite objections from Democrats who argue that it contradicts President Biden's climate commitments. The financing agreement is five times larger than expected and will support the drilling of more wells in Bahrain's oil field. Critics argue that this decision undermines US credibility on climate change and goes against the commitment made by nearly 200 nations to transition away from fossil fuels. The immediate beneficiary of the financing is Bapco Energies, Bahrain's state oil and gas holding company, and the loan is also expected to benefit the world's largest oil-services provider, SLB. [Extracted from the article]

Cigna Group has partnered with obesity drug manufacturers Eli Lilly & Co. and Novo Nordisk A/S to expand coverage for weight-loss medications. The agreements aim to limit the amount that employer-sponsored health plans have to pay for these drugs, which have seen a surge in demand. Cigna's program will cap spending increases for these medications at a maximum of 15% annually, providing employers with financial guarantees and potentially increasing access to these treatments. The company's shares rose following the announcement. [Extracted from the article]

Cigna Group has partnered with obesity drug manufacturers Eli Lilly & Co. and Novo Nordisk A/S to expand coverage for weight-loss medications. The agreements aim to limit the amount that employer-sponsored health plans have to pay for these drugs, which have seen a surge in demand. Cigna's program will cap spending increases for these medications at a maximum of 15% annually, providing employers with financial guarantees and potentially increasing access to these treatments. The company's pharmacy benefits manager, Express Scripts, will assume the risk associated with these guarantees. [Extracted from the article]

Cigna Group has partnered with obesity drug manufacturers Eli Lilly & Co. and Novo Nordisk A/S to expand coverage for weight-loss medications. The agreements aim to limit the amount that employer-sponsored health plans have to pay for these drugs, which have seen a surge in demand. Cigna's program will cap spending increases for these medications at a maximum of 15% annually, providing employers with financial guarantees and potentially increasing access to these treatments. The program, called EncircleRx, also includes support services for patients, such as behavior change assistance. [Extracted from the article]

Pakistan plans to seek a new loan of at least $6 billion from the International Monetary Fund (IMF) to help repay its debt. The country will negotiate an Extended Fund Facility with the IMF, with talks expected to start in March or April. The loan is seen as a priority for the incoming government, as Pakistan faces $25 billion of external debt payments in the next fiscal year. The goals of the IMF program will include ensuring balance of payment and debt sustainability, privatizing state-owned enterprises, and increasing tax revenues. Failure to secure the loan could increase the risk of a debt default. Pakistan has a history of receiving IMF bailout packages, with 23 received since gaining independence in 1947. [Extracted from the article]

President Joe Biden's climate law includes tax credits worth $7,500 for electric vehicle (EV) purchases, making EVs more affordable in the US. However, if Republicans win the White House or strengthen their hold on Capitol Hill, these tax credits could be targeted. Republicans have expressed opposition to pro-EV policies, and a GOP president could rewrite Treasury Department rules to make it harder to claim the tax credits. The fate of the tax credits and the entire climate law will depend on the balance of power in Washington and Republicans' willingness to go after policies that benefit red states. [Extracted from the article]

The Green Guarantee Company (GGC) has raised $100 million to reduce the risk for private investors funding renewable energy and climate projects in developing countries. GGC provides "investment-grade" guarantees to funders, allowing companies in emerging markets to access more affordable and longer-term loans. The company's launch has garnered attention from the international development community, with projections of catalyzing $1 billion in new investment for climate action in the least developed countries. GGC aims to guarantee $5 billion worth of projects and list on the London Stock Exchange by 2035. [Extracted from the article]

China South City Holdings, a Chinese developer partially owned by the city of Shenzhen, has warned that it cannot pay the interest due on its bonds. The company is seeking support from creditors to extend the deadlines for its dollar bonds, as it faces liquidity and cash flow constraints due to a deteriorating operating environment in the real estate sector. While the developer has received support from some bondholders, it has not yet reached the required threshold for successfully extending the maturity and lowering the interest rates. This situation poses a significant test for Chinese authorities' commitment to supporting distressed property firms. China South City had previously received a state bailout and is currently in discussions with its major shareholder, Shenzhen SEZ Construction and Development. Despite the presence of keepwell clauses, which provide a commitment to maintain solvency but not a payment guarantee, the company is still facing financial difficulties. [Extracted from the article]