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Ukraine is facing a financial crisis and will run out of money within months if aid from the US and Europe does not come through. The country is facing a $40 billion financial shortfall, with $30 billion expected to come from the US and EU. If aid is not received in time, Ukraine may have to delay salaries, borrow more domestically, or even resort to printing money. The country's economic stability is crucial for its ability to continue fighting against Russia. [Extracted from the article]

Russia's economy is facing an unexpected problem: a property bubble fueled by cheap loans for citizens to buy new homes. The surge in housing prices, along with rising inflation, has exposed divisions among Russia's leaders. The central bank is concerned about financial stability and has called for winding down subsidized mortgage programs, while the Kremlin is trying to maintain popular support. The popularity of cheap mortgages has led to increased economic activity and helped households upgrade to bigger homes, but economists warn of the risks of overheating and financial stress. [Extracted from the article]

A plan to prevent debt crises in developing countries by encouraging them to borrow in their own currencies has backfired. Instead of using local-currency bonds to phase down foreign-currency borrowing, cash-strapped governments have relied on them to cover budget shortfalls, leading to high interest payments that drain their balance sheets. This has caused economic crises in countries like Sri Lanka, Ghana, and Pakistan. The high cost of local-currency borrowings has also complicated debt relief efforts for poor countries and created disagreement between the World Bank and the International Monetary Fund. Despite the challenges, some economists argue that domestic-debt markets have proven to be a resilient funding source for larger economies. [Extracted from the article]

Oil prices fell on Thursday due to discord among leading energy producers, while stocks in Hong Kong and mainland China were boosted by optimism about support for property developers. The US stock markets were closed for the Thanksgiving holiday, resulting in muted global market activity. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, announced that their next ministerial meeting will be held online, causing further uncertainty in the oil market. In Asia, the Hang Seng Index in Hong Kong rose 1% and the Shanghai Composite added 0.6%, while Japan's market was closed for a holiday. Chinese property developers experienced significant gains in Hong Kong, as reports suggested that the Chinese government may provide more support to the struggling sector. [Extracted from the article]

Governments around the world are facing a significant increase in debt-servicing costs, with an estimated $2 trillion being spent on interest payments this year alone. This surge in costs is due to higher interest rates, making borrowing more expensive. As a result, governments are forced to make difficult choices, such as raising taxes, cutting spending, or running deficits that will add to interest costs. This issue is particularly pronounced in the US, where net interest payments reached a record high last fiscal year. Other countries, including China, Egypt, and Pakistan, are also grappling with rising debt costs and the trade-offs they entail. The growing debt burden could potentially impact economic growth and exacerbate poverty. [Extracted from the article]

Foreign buyers of U.S. Treasury debt have decreased significantly in recent years, owning about 30% of outstanding U.S. government debt compared to 43% a decade ago. The Federal Reserve is reducing its portfolio, while supply has increased with the U.S. Treasury issuing a net $2 trillion in new debt this year. Demand from banks and foreign investors is expected to be limited, and the makeup of overseas demand has shifted, with European investors and countries in Latin America and the Middle East increasing their holdings. However, the decline in foreign ownership of Treasurys is expected to continue. [Extracted from the article]

Similar to American buckeyes, conkers grow inside a spiky green shell that splits open when the seed is ripe. Photo: James Packer "Our Nuts Are in Crisis", blared a headline in the Daily Star, a U.K. tabloid, for an article about the conker championships on Sunday. Britain Goes Bonkers Over Mushy Conkers. [Extracted from the article]

The article discusses the recent resurgence of the US dollar and its impact on the global economy. The dollar has reached its highest level of the year, driven by surging Treasury yields. While a strong dollar is beneficial for the US, it poses challenges for the rest of the world, particularly emerging markets. The strong dollar leads to lower growth and increased financial vulnerability in other countries. Additionally, US companies with overseas operations are affected as their revenue decreases in terms of the US currency. Central banks in some countries are taking measures to stabilize their currencies. However, some analysts believe that the dollar's winning streak may be coming to an end due to fading American growth. [Extracted from the article]