Government Finance

Government Finance News

  • Illinois Governor Quinn Proposes Keeping Income-Tax Increase

    Illinois Governor Pat Quinn proposed keeping an income-tax increase that expires at year end, to avoid making cuts in education.

  • Illinois Bill Backlog Shrinks as Tax Increases Set to End

    The pile of late payments to vendors facing the Illinois government shrank to $4.8 billion in February, down $2.5 billion from a year earlier, according to a report from the state Comptroller’s office.

  • Guam Rally on Fiscal Gains Defies Puerto Rico Cuts: Muni Credit

    Puerto Rico and Guam, two U.S. territories whose debt is tax-exempt nationwide, are navigating uncharted waters.

  • Malaysia Budget Deficit Shrinks More Than Government Target

    Malaysia trimmed its fiscal deficit to 3.9 percent of gross domestic product last year, after cutting government spending and state subsidies to avert a credit-rating downgrade.

  • China Bank Bad Loans May Double on Local Government Finance, 21st Reports

    The Chinese government’s push to clean up local government financing may double the balance of non-performing loans at the nation’s banks, the 21st Century Business Herald reported today, citing an unidentified commercial bank official.

  • Chilean Regulators Say No to Clinton-Backed University

    A Chilean university owned by Laureate Education Inc., a global chain with former President Bill Clinton as honorary chancellor, was stripped of its accreditation, cutting off its access to government loans for new students.

  • Vendors Unpaid as Pitfalls Impede Illinois’s Path to Stability

    Ron Ford knows that Illinois, the state with the worst credit rating in the U.S., will have returned to financial health when he and about 19,000 other vendors get paid the combined $8.8 billion owed them. That day won’t come soon.

  • Municipal Regulators Crack Down on Disclosure Enforement

    Municipal-bond regulators are checking to ensure that securities underwriters comply with obligations requiring issuers meet disclosure obligations, officials said at a government-finance conference.

  • Treasury Paying $120 Billion in Bills Doubted as Fitch Warns

    Investors holding $120 billion of Treasury bills coming due tomorrow are increasingly worried that they won’t get paid.

  • Coalition Agreements Between U.K. Conservatives, Liberal Democrats: Text

    (The following press release from the Liberal Democrats was received by e-mail. The sender verified the statement.) Conservative Liberal Democrat coalition agreements Wed, 12 May 2010 Agreements between the Liberal Democrats and the Conservative Party was reached May 11, 2010. This document sets out agreements reached between the Conservatives and Liberal Democrats on a range of issues. These are the issues that needed to be resolved between us in order for us to work together as a strong and stable government. It will be followed in due course by a final Coalition Agreement, covering the full range of policy and including foreign, defence and domestic policy issues not covered in this document. Deficit Reduction The parties agree that deficit reduction and continuing to ensure economic recovery is the most urgent issue facing Britain. We have therefore agreed that there will need to be:

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