Is ease of borrowing pushing millennials towards a debt trap?

Therefore, responsible lending and responsible borrowing is a pertinent issue for the international lending institutions as this is a time when developing countries could all too easily fall into a debt trap as was experienced prior to the Highly Indebted Poor Countries (HIPC) completion point.

To the extent that we are borrowing to pay salaries, we are sure headed to another debt trap in the very near future. Having said that, it is interesting to point out that most of the Chinese.

 · This means that consumers who normally are able to obtain credit with relative ease are suddenly unable to get credit even with higher interest rates. Rates of interest on savings accounts often are relatively high during a liquidity trap, while the interest rates on loans and credit cards are low.

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Millennials. Is ease of borrowing pushing millennials towards a debt trap? livemint.com – Nilanjana Chakraborty, Disha Sanghvi. Millennial borrowers are financing their lifestyle spending by taking short-term loans and swiping their credit cards at will.

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 · Reacting to US Vice-President Mike Pence’s allegation that China engages in “debt trap” diplomacy, Mr. Diokno said that the Philippines is not exposed to borrowing risks that will force a surrender of sovereignty. “The Vice-President is referring to (other) countries, not us. Definitely not us,” he said in a forum in Quezon City on Monday.

A recent push by Fannie Mae to enable more millennials who are burdened by student debt to buy homes appears to be having its intended effect. Bankers said that they are finding it easier to qualify young homebuyers as a result of the policy changes. Fannie announced the new rules back in April.

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According to Clarity Services’ data, millennial use of short-term loans increased 166 percent from 2015-2016. The popularity of these services with millennials has surged due to the ease and mobility of getting an online loan. With a few clicks of a button, consumers can have cash in hand in 24 hours.