Costa lending – Gran Logia Costa Rica http://granlogiacostarica.org/ Thu, 24 Nov 2022 03:46:36 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://granlogiacostarica.org/wp-content/uploads/2021/05/cropped-icon-1-32x32.png Costa lending – Gran Logia Costa Rica http://granlogiacostarica.org/ 32 32 Japanese players credit Saudi Arabia for surprise Germany win https://granlogiacostarica.org/japanese-players-credit-saudi-arabia-for-surprise-germany-win/ Wed, 23 Nov 2022 17:00:52 +0000 https://granlogiacostarica.org/japanese-players-credit-saudi-arabia-for-surprise-germany-win/

“Like them, we have made a great comeback!” : Japanese players credit Saudi Arabia for surprise Germany win after Asian rivals also came from behind to beat Argentina

Japanese players Hiroki Sakai and Takefusa Kubo have credited Saudi Arabia with inspiring their side to come from behind and force another World Cup clash on Wednesday.

Samurai Blue came from 1-0 down to beat Germany in arguably the biggest upset of the tournament so far, prompting jubilant scenes from players and full-time staff alike.

Saudi Arabia also came from within a point to defeat Argentina on Tuesday, and Sakai, via be in sportspraised his team’s Asian rivals for helping his team believe in themselves.

Japan caused a major shock at the World Cup by beating Germany 2-1 in Group E on Wednesday

Hiroki Sakai said he knew Japan could win if they could stay in the game at 1-0

Takefusa Kubo compared his team's famous victory to that of Saudi Arabia

Hiroki Sakai (left) and Takefusa Kubo (right) credited Saudi Arabia with inspiring the result

The 32-year-old said: “Yesterday Saudi Arabia showed us a very valuable game against Argentina. We all thought that if we could keep the deficit at one, you never know what might happen next. .

Midfielder Kubo added: “We were down 1-0 at half-time, just like Saudi Arabia, and just like them, we were able to get a nice comeback win.”

Japan will now figure out their chances of qualifying from Group E, with Spain favorites to win the first stage.

A win against Costa Rica should ensure qualification, but they will be happy to have their fate in their hands.

They will face Costa Rica on Sunday before taking on Spain in their final group game.

Saudi Arabia stunned Argentina by winning their World Cup opener 2-1 on Tuesday

Saudi Arabia stunned Argentina by winning their World Cup opener 2-1 on Tuesday

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“Disenchanted” makes its debut on Disney+! See the Original ‘Enchanted’ Cast From Then and Now | Gallery https://granlogiacostarica.org/disenchanted-makes-its-debut-on-disney-see-the-original-enchanted-cast-from-then-and-now-gallery/ Mon, 21 Nov 2022 14:05:00 +0000 https://granlogiacostarica.org/disenchanted-makes-its-debut-on-disney-see-the-original-enchanted-cast-from-then-and-now-gallery/


6:05 a.m. PST, November 21, 2022

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32m Crescent Inspired Yacht For Sale https://granlogiacostarica.org/32m-crescent-inspired-yacht-for-sale/ Fri, 18 Nov 2022 14:45:00 +0000 https://granlogiacostarica.org/32m-crescent-inspired-yacht-for-sale/

Written by Alexander Griffiths

The 38.71 meter motor yacht Inspired was Crescent Custom Yachts’ largest project to date when delivered in 2000, and she proudly claimed the pedestal and flagship title for 17 years. The design and naval architecture of this record-breaking Crescent Custom yacht could only be entrusted to one studio – the studio that helped put them on the map in 1991, creating its very first yacht: Jack Sarin Naval Architects.When Crescent’s flagship hit the water in 2000, under her maiden name Nectar of the Gods, not only was she the Queen of Canada, but she ranked among the five greatest yachts in Jack Sarin’s portfolio. She was awesome then – and she’s awesome now.Inspired yacht cruise “When I first boarded in Newport Beach, California, it was love at first sight,” said her captain, Jeff Dyess. SuperYacht timetables. “Inspired the exterior lines beautifully capture the classic, timeless look of American yachts that inspires respect on the dock.Inspired Yacht SalonInspired Yacht SalonInspired yacht dinner Take off your shoes and get on board Inspired and you’ll quickly discover that this motor yacht has that timeless North American charm. Bill Scales was the studio behind his curation; and Inspired follows a successful dynasty between the Canadian builder and designer, with a fleet that includes the two 35.05 meter production yachts Cable us here (ex. Warrior) and Harmony (ex. Dare dream). Inspired yacht cruise For Inspired, Bill Scales had 282 GT of interior volume to play with and opted for light wood veneers for the base of his design. This light teak covers the walls throughout the yacht, creating a calm and soothing ambiance. A neutral palette and warm furnishings balance the space, confirming exactly what Inspired was designed for: a home away from home. Yacht cabin inspiredyacht office inspired But as Dyess confirmed, Inspired the prowess runs much deeper than its aesthetic. “I quickly realized that not only her lines command respect, but also her seaworthiness. I’ve been a captain/engineer for over a decade and have driven countless boats. None have been as stable and comfortable as inspired along the way.Yacht inspired anchored Inspired boasts a transatlantic range, which has been put to good use time and time again with long excursions into the idyllic waters surrounding Panama, Costa Rica and the Bahamas. Island hopping and remote exploration were built right into its design; Jack Sarin berthed her with a shallow draft, while Bill Scales provided every comfort one could need at sea. Yacht deck inspired“Because of her classification status, the excess is all over the board,” Dyess explained. A key example is that she has been fitted with three generators meaning I will never be without power and my guests will always be safe on board no matter where in the world I take us! Two watermakers guarantee that my guests will never be without fresh water. The list is lengthened increasingly.”Inspired yacht cruise Inspired can accommodate up to 10 guests in five well-appointed cabins, including a split-level master suite with an adjoining spa, two double and two twin cabins. She also currently has a gym, which can be easily converted into another cabin, depending on the owner’s needs. Jacuzzi inspired by yachtsYacht-inspired rear deckThe Bureau Veritas class motor yacht is currently on the market, and there hasn’t been a better time to buy as she undertook a major refit last year and has just completed her annual class survey. No expense was spared during her refit either, as Dyess explained: “With an open budget from the owner, we bought new or rebuilt nearly every piece of equipment in the engine room.” But the work did not stop there. Inspired yacht barInspired Yacht Salon Inspired also had a major facelift to go along with its newly refined performance. Inside, all of her granite countertops and floors have been buffed and polished, new carpeting has been installed and headliners have been replaced in all crew areas, and a new set of vanity mirrors have been fitted. been installed.Yacht-inspired rear deck Yacht deck inspiredInspired the exterior has also been given a makeover, with its hull sanded down and two coats of antifouling applied. Its capped rails have been stripped and varnished, and new life has been given to its outdoor tables and bars. Other work carried out includes her anchor and pocket polished, plank deck davit rebuilt and new lifebuoys fitted. It also had a full electronics package, courtesy of Simard. As her captain commented, “She’s sitting, rebuilt, waiting for someone to come and take her for another life-changing season!”Inspired yacht cruise

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Chinese premier says economy on ‘uptrend’, pledges further support https://granlogiacostarica.org/chinese-premier-says-economy-on-uptrend-pledges-further-support/ Sun, 13 Nov 2022 05:54:02 +0000 https://granlogiacostarica.org/chinese-premier-says-economy-on-uptrend-pledges-further-support/

BEIJING, Nov 13 (Reuters) – China’s economy has grown 3% over the past three quarters and is stabilizing on an “uptrend”, Chinese Premier Li Keqiang said, pledging to continue supporting the economy. economy through policy measures.

The comments were made during a meeting with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, on Saturday during the ASEAN summit in Cambodia, according to a statement released by the Chinese Foreign Ministry on Sunday.

Premier Li also said China is working hard to maintain stable market operations, employment and prices, according to the statement.

“We will continue to promote the full implementation of a set of policies and measures to stabilize the economy with full effect…and strive for better results throughout the year.” , Mr. Li said.

While the government has sought to support the world’s second-largest economy with more than 50 measures since late May, the latest figures out of China point to a slowdown.

Recent data showed an unexpected contraction in exports and imports, a slowdown in inflation and a drop in new bank loans.

China also eased some of its tough pandemic restrictions on Friday, providing respite from the zero-COVID strategy that has dampened economic and industrial activity in the country.

China created more than 10 million new urban jobs in the first 10 months of the year, Li said. China aims to keep the urban unemployment rate below 5.5 percent and create more 11 million new urban jobs this year.

“Countries should strengthen macroeconomic policy cooperation and coordination, so as to form synergy to maintain stability in the global economy and prevent recession,” Li said. (Reporting by Liz Lee and Liangping Gao; Editing by Ana Nicolaci da Costa)

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Berkadia Provides $93.6 Million in Agency Financing for Two Multifamily Properties in Boynton Beach, Florida https://granlogiacostarica.org/berkadia-provides-93-6-million-in-agency-financing-for-two-multifamily-properties-in-boynton-beach-florida/ Wed, 09 Nov 2022 15:33:43 +0000 https://granlogiacostarica.org/berkadia-provides-93-6-million-in-agency-financing-for-two-multifamily-properties-in-boynton-beach-florida/

The two Boynton Beach properties include 328-unit Advenir at La Costa (pictured) and Advenir at Banyan Lake.

BOYNTON BEACH, FL. — Berkadia provided a $93.6 million loan on behalf of Advenir to finance Advenir in Banyan Lake and Advenir in La Costa, two multi-family communities located in Boynton Beach. Berkadia’s Charles Foschini and Chris Apone are behind the seven-year fixed-rate Freddie loan, which provides interest-only payments for the full term.

Advenir at Banyan Lake is a 268-unit community located at 1561 Stonehaven Drive with one-, two-, and three-bedroom apartments ranging from 900 to 1,290 square feet. The development’s facilities include a swimming pool, fitness center, barbecue grills, playground, racquetball courts, tennis courts and lakes.

Located at 4101 Mahogany Drive, Advenir at La Costa is a 328-unit property with one- and two-bedroom apartments ranging from 784 to 1,116 square feet. Community facilities include two swimming pools, 24-hour fitness center, tennis court, outdoor lounge, lakeside jogging track, internet cafe and coffee shop, car service center and fishing pier.

Both properties were built in 1986 and have undergone value-added renovations after being acquired by Advenir in 2015.

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MeridianLink® Announces Acquisition of OpenClose™ https://granlogiacostarica.org/meridianlink-announces-acquisition-of-openclose/ Mon, 07 Nov 2022 21:05:00 +0000 https://granlogiacostarica.org/meridianlink-announces-acquisition-of-openclose/

COSTA MESA, Calif.–()–MeridianLink, Inc.® (NYSE: MLNK) today announced that it has completed the acquisition of Open close™, a leading fintech provider of residential mortgage software solutions for banks, credit unions and independent mortgage lenders. The acquisition will enable clients to provide consumers with seamless digital lending experiences, while reducing costs and closing times. The agreement will also support the continued market expansion of MeridianLink’s full system capabilities serving depository organizations.

MeridianLink is committed to continuous innovation and will continue to invest in OpenClose (LenderAssist™) and MeridianLink® Mortgage (formerly known as LendingQB®) LOS solutions, giving customers more choices for award-winning digital loan offerings. OpenClose and MeridianLink Mortgage workflow-based solutions offer digital loan origination (LOS), point-of-sale (POS), product and pricing engines (PPE), and business intelligence (BI) functions ) market leaders, with easy access from any browser or mobile device.

“We are delighted to welcome the OpenClose team to MeridianLink. Combining the strengths of our organizations is great for the industry as we enable our customers to deliver fast and frictionless mortgage experiences from application to closing,” said Nicolaas Vlok, CEO of MeridianLink. “This acquisition ensures that all customers can be confident that they have a top-notch, comprehensive mortgage solution, whichever offer they choose, and that we will continue to invest in both offers as we will evolve the products to incorporate the best capabilities of each.”

As part of the integration, MeridianLink Mortgage customers will be able to access the OpenClose point-of-sale (POS) system, Consumer Assist™, providing a superior experience for borrowers. In addition, OpenClose LenderAssist customers will be able to take advantage of MeridianLink’s PriceMyLoan product and pricing engine (PPE), offering richer pricing options and features such as parallel mortgage insurance pricing, a Built-in fee and loan comparison reports.

Founded in 1999, OpenClose pioneered a SaaS-based loan automation software platform for the mortgage industry. Today, the company’s comprehensive loan origination software helps customers reduce the cost of loan origination while reducing processing and underwriting times. For these reasons and more, OpenClose has seen strong year-over-year growth as financial institutions invest in mortgage technology.

“Since our inception, customers have validated our company’s capabilities by choosing our SaaS solutions time and time again. Now, after record growth over the past few years, we are excited to reach more customers faster while continuing to provide the industry-leading technology, team and customer service that our customers have come to expect,” said JP Kelly, President. to OpenClose. “I am confident that our innovative, talented and dedicated team, along with our cutting-edge technology, will thrive even more as part of MeridianLink.”

About Meridian Link

MeridianLink® (NYSE: MLNK) is a leading provider of cloud-based software solutions for financial institutions, including banks, credit unions, mortgage lenders, specialty loan providers and credit reporting agencies. consumers. Based in Costa Mesa, Calif., MeridianLink provides services to more than 1,900 customers, including the majority of financial institutions on Forbes’ 2021 lists of America’s Top Credit Unions and Banks. Further information can be found at www.meridianlink.com.

Forward-looking statements

This release contains statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. ‘fine. Generally, these statements can be identified by the use of words such as “expects”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “plans”, “seeks”, “should”, “shall” and variations of these words or similar expressions, although not all forward-looking statements contain these identifying words. In addition, statements describing our strategy, outlook, direction, plans, intentions or objectives are also forward-looking statements. These forward-looking statements reflect our predictions, expectations or forecasts, including, but not limited to, statements regarding the anticipated benefits and integration of the acquisition, our future financial and operating performance, our development or delivery of solutions new or improved, our market size and growth opportunities, and our competitive positioning. Actual results may differ materially from those described in forward-looking statements and will be affected by a variety of risks and factors beyond our control, including, without limitation, risks relating to our business and industry, as well than those set out in Point 1A. Risk Factors, or elsewhere in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, any updates to our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K , and our other SEC filings. Any forward-looking statements contained herein are based on reasonable assumptions as of the date hereof. You should not rely on forward-looking statements as predictions of future events. We undertake no obligation, other than as required by applicable law, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

]]> 3 vulnerable stocks to avoid until further notice https://granlogiacostarica.org/3-vulnerable-stocks-to-avoid-until-further-notice/ Thu, 03 Nov 2022 20:01:26 +0000 https://granlogiacostarica.org/3-vulnerable-stocks-to-avoid-until-further-notice/

Consistent with general expectations, the Fed raised its short-term borrowing rate by 75 basis points at a target range of 3.75% to 4%. The central bank’s persistent hawkish stance lays the groundwork for a interest rate to reach 5% by March next year, triggering a recession.

With rising interest rates set to hurt businesses by weakening demand and making borrowing more expensive, economic recovery and a return to market stability seem unlikely anytime soon. Colin Graham, head of multi-asset strategy at asset manager Robeco, said:Everybody’s gotten so bearish; it’s like everyone is on one side of the ship thinking things will never get better.

Given uncertain economic and market conditions, it might be wise to avoid fundamentally weak and troubled stocks Coinbase Global, Inc. (PIECE OF MONEY), Carnival Corporation & plc (CCA) and SoFi Technologies, Inc. (SOFI) until the end of the current turbulence is in sight.

Coinbase Global, Inc. (PIECE OF MONEY)

COIN is a fintech company that provides end-to-end financial infrastructure and technology for the global crypto economy. The company offers financial accounts for retail crypto users, a liquid marketplace for institutions for crypto transactions, and technology and services for ecosystem partners.

On Nov. 1, it was revealed that COIN had asked federal court for permission to file an amicus brief in the ongoing lawsuit between the U.S. Securities and Exchange Commission (SEC) United and Ripple Labs. The SEC sued Ripple in late 2020 over allegations that it sold XRP as an unregistered security.

COIN argued that the SEC’s inconsistent enforcement approach creates “uncertainty” for companies in the sector.

On October 17, it was revealed that COIN plans to sue 1,000 users in the republic of Georgia for taking advantage of a pricing glitch when the lari, the local currency, was priced at $290 instead of $2.90 for about six hours on COIN.

On September 12, information emerged that the brother of a former COIN product manager pleaded guilty to a wire fraud conspiracy charge when prosecutors called the first insider trading case involving cryptocurrency.

The above developments illustrate a long-standing concern of financial regulators about the risks posed to institutions by external partnerships and justify the call for greater regulation that harms the USP of decentralized finance and the businesses built around it. ‘she, like COIN.

During the second quarter of fiscal 2022 ended June 30, total COIN revenue decreased 63.7% year-over-year to $808.33 million. During the same period, the company reported a operating loss of $1.04 billion, compared to revenue of $874.73 for the prior year period.

Additionally, COIN’s net loss attributable to common shareholders was $1.1 billion and $4.98 per share, compared to net income of $1.59 billion and $6.42 per share at quarter of the previous year, respectively.

Analysts expect COIN revenue for the fiscal year ending December 2022 to decline 57.7% year-over-year to $3.32 billion. Additionally, the company’s current-year loss per share is expected to be $6.64, compared to EPS of $17.10 a year earlier.

The stock plunged 75.8% year-to-date to close last trading session at $60.71.

It’s no surprise that COIN has an overall rating of F, which translates to strong selling in our POWR Rankings system. POWR ratings rate stocks on 118 different factors, each with its own weighting.

COIN also has an F rating for Growth, Stability, and Sentiment and a D for Value, Momentum, and Quality.

It is ranked last among 146 stocks in the F-rated Software app industry.

Carnival Corporation & plc (CCA)

CCL is one of the pioneers in global leisure travel. The company operates its ships under different brands, including Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa Cruises, P&O Cruises (UK) and Cunard. The company owns and operates hotels, lodges, glass dome cars and coaches.

On October 18, CCL announced an 18-month extension to the maturity of $87 million of convertible bonds at the current rate of 5.75%. This reflects the debts of the company and involves potential interest rate risk amid continued hawkish Fed policy.

During the third quarter of fiscal 2022 ended August 31, CCL recorded an operating loss of $279 million. The company’s adjusted net loss was $688 million over the same period. CCL’s long-term debt also increased slightly to $28.52 billion as of August 31, 2022, from its November 30, 2021 levels.

Analysts expect CCL’s loss per share to be $0.86 for the fourth quarter of fiscal 2022 (ending November 2022). This should put the company at a loss of $4.68 per share for the full year 2022. The company has missed consensus EPS estimates in each of the last four quarters.

The stock is down 59.4% year-to-date to close the last trading session at $8.69.

CCL’s POWR ratings are consistent with this bleak outlook. The stock has an overall rating of D, which translates to a sell in our proprietary rating system. It has an F rating for stability and sentiment and a D for value and quality.

In category F Travel – Cruises industry, CCL is ranked #2 out of 4 stocks.

Click here to see additional POWR ratings for growth and momentum for CCL.

SoFi Technologies, Inc. (SOFI)

SOFI operates as a one-stop-shop for financial services through its platform. The Company operates through three segments: Loans; Technology platform; and Financial Services.

On August 9, SOFI announced the launch of two new ETFs, SoFi Web 3 (TWEB) and SoFi Smart Energy (ENRG). However, with markets under significant pressure from macroeconomic and geopolitical headwinds, it may be some time before these new launches find traction with investors.

In the third quarter of fiscal 2022 ended September 30, SOFI’s net loss increased 146.8% year-over-year to $74.21 million. That translated into a quarterly loss per share of $0.09, up 80% year over year. The company’s total liabilities were $10.33 billion as of September 30, 2022, compared to $4.48 billion as of December 31, 2021.

SOFI’s loss per share for the fourth fiscal quarter (ending December 2022) is expected to be $0.06. Additionally, analysts expect the company to report a net loss of $0.30 per share for the current fiscal year.

The stock has fallen 67.4% year-to-date to close the last trading session at $5.12.

SOFI’s weak fundamentals are reflected in its POWR ratings. The stock has an overall F rating, which equates to a strong sell in our proprietary rating system. It has an F rating for stability and quality and a D for growth, momentum and value.

SOFI is ranked No. 104 among 106 stocks in the F-rated Financial Services (Corporate) industry.

Click here to view additional SOFI reviews.


COIN shares were trading at $56.56 per share on Thursday afternoon, down $4.15 (-6.84%). Year-to-date, COIN is down -77.59%, compared to a -20.58% rise in the benchmark S&P 500 over the same period.

About the Author: Santanu Roy

Fascinated by the traditional and evolving factors that influence investment decisions, Santanu decided to pursue a career as an investment analyst. Prior to moving into investment research, he was a process associate at Cognizant. With a master’s degree in business administration and a fundamental approach to business analysis, he aims to help retail investors identify the best long-term investment opportunities. After…

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How debt-for-climate swaps can help solve fiscal and environmental problems in low-income countries simultaneously https://granlogiacostarica.org/how-debt-for-climate-swaps-can-help-solve-fiscal-and-environmental-problems-in-low-income-countries-simultaneously/ Tue, 01 Nov 2022 15:23:04 +0000 https://granlogiacostarica.org/how-debt-for-climate-swaps-can-help-solve-fiscal-and-environmental-problems-in-low-income-countries-simultaneously/

Credit: public domain CC0

Barbados Prime Minister Mia Amor Mottley spoke passionately before the United Nations General Assembly in September on growing debt many developing countries and its growing impact on their ability to prosper.

The average for weak and outside China, reached 42% of their gross national income in 2020, compared to 26% in 2011. For countries in Latin America and the Caribbean, annual payments for servicing this debt alone represented on average 30% of their total exports.

At the same time, these countries face a “triple crisis from climate change, the pandemic and even now conflict which leads to the inflationary pressures which unfortunately lead people take the circumstances in hand“, Motley said.

Rising borrowing costs coupled with high inflation and slow economic growth have left developing countries like his a difficult position when it comes to climate change. High debt repayments mean countries have fewer resources to mitigate and adapt to climate change. Yet climate change increases their vulnerability, and this can increase their sovereign riskincreasing the cost of borrowing. Lower production capacity and tax base may lead to higher debt risks. It’s a vicious circle.

As a unique solution, countries and talk about “debt-for-climate swaps” to help solve both problems at the same time. UN Deputy Secretary General Amina Mohammed mentioned debt-for-climate swaps before 2022 United Nations Climate Change Conferencefrom November 6 to 18, as an option to refinance countries’ “crushing” debt.

How Debt Swaps Work

Debt-for-climate swaps allow countries to reduce their debts in exchange for a commitment to finance national climate projects with the financial resources freed up.

They were used since the late 1980s to preserve the environment and deal with the liquidity crisis in developing countries, including Bolivia, Costa Rica and Belize. These are commonly referred to as “debt-for-nature swaps”.

Belize, for example, was able to reduce its debt by committing to designate 30% of its marine areas as protected areas and to spend $4 million a year for the next two decades to in a complex debt-for-nature swap.

Barter, organized in 2021 by Nature conservation, involves the US-based environmental group lending funds at a low interest rate to Belize to buy back $553 million in commercial debt at a steep 45% discount. The Nature Conservancy raised funds from investment bank Credit Swisse through the issuance of US government-backed “blue bonds”, which gave the bonds a solid investment grade credit rating.

Similarly, Costa Rica has made two debt-for-nature swaps with the United States. As part of the exchanges, Costa Rica agreed to allocate $53 million for conservation projects. It has already planted more than 60,000 trees and reverse its deforestation.

While debt-for-nature swaps have primarily been used for conservation, the same concept could be expanded to climate change mitigation and adaptation activities, such as the construction of solar farms or dykes. Some financial experts have suggested that debt-climate swaps could be structured in a way that also encourages private sector bondholders to swap the national debt they hold for carbon offsets.

Three keys to successful debt-climate swaps

I work with the Climate Policy Lab at the Fletcher School of Tufts University. Our experience with debt swaps offers lessons for the design and implementation of debt-for-climate swaps.

First, the complex governance structures of debt swaps have limited their use. In the past, transactions were generally small, generating only about $1 billion funding for the environment from 1987 to 2003. A terminology record template for future debt-for-climate swaps could reduce complexity and reduce the time and costs involved.

Second, debt-for-climate swaps should ease the debt burden enough to allow debtor countries to invest in climate change adaptation and mitigation projects. For example, the United States created debt-for-nature swaps with Indonesia in 2009 which have been criticized for not doing enough to help the Indonesian government achieve its conservation goals.

Another concern is known as ‘additionality’ – ensuring that trade leads to additional climate efforts, as opposed to covering efforts already planned Where already paid with international climate finance.

With widen the gaps Between the amount of adaptation aid that reaches countries and the amount they need, debt-for-climate swaps can be a significant source of finance. Climate Policy Initiative, a non-profit research group, recently estimated that about 90% adaptation needs of countries listed in their Nationally Determined Contributions plans they submit to the UN – can only be met with the help of development banks or other countries.

Regions experimenting with debt swaps

Some regions are testing debt-climate swaps.

The Economic and Social Commission for West Africa has developed a Debt swap between climate objective and sustainable developmentin which he plays the role of intermediary between creditors and seven pilot countries. The initiative focuses on promoting sustainable development and climate goals, such as the development of more resilient agriculture.

Similarly, under the Caribbean Resilience Fund, the Economic Commission for Latin America and the Caribbean plans to launch a Debt swap for climate change adaptation. It aims to reduce the $527 million in debt in three pilot countries by issuing green bonds, similar to Belize’s debt swap. development banks play a crucial role securing new obligations and reducing credit risk.

Through carefully designed debt-for-climate swaps and the support of international institutions, development could increase their funding for desperately needed climate mitigation and adaptation actions and alleviate some of their heavy debt burden.

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S.Korea Moves Again to Ease Credit Crunch Triggered by Developer Legoland’s Default https://granlogiacostarica.org/s-korea-moves-again-to-ease-credit-crunch-triggered-by-developer-legolands-default/ Thu, 27 Oct 2022 02:01:00 +0000 https://granlogiacostarica.org/s-korea-moves-again-to-ease-credit-crunch-triggered-by-developer-legolands-default/

SEOUL (Reuters) – South Korea’s central bank on Thursday announced new measures to improve liquidity in the banking system and ease the fallout from a developer default that has raised fears of a credit crunch in Korea’s fourth-largest economy. Asia.

Gangwon Jungdo Development Corp., the developer of the new Legoland Korea theme park two hours east of Seoul, missed bond payments worth 205 billion won ($144 million) due on 29 september.

The news shocked some investors given that the debts, asset-backed commercial paper backed by the local government, were then rated A1. A dozen local brokerage houses are among the creditors.

The default has led to a sudden freeze in short-term money markets in the country, just as the Bank of Korea’s 250 basis point rate hikes since the middle of last year hit the once-damaged property market. booming. Local brokers are also heavily exposed to the financing of real estate projects.

Growing signs that Korean companies are struggling to secure funding come amid global financial market volatility and a slump in China’s property market, something the BOK will need to take into account as analysts s expect policy rates to rise further to 3.50% or 3.75% by next year.

Data released earlier on Thursday showed South Korea’s economic growth fell to its lowest level in a year in the third quarter.

Policymakers announced a series of measures since Sunday to inject more money into the financial system, including doubling a corporate bond purchase facility to 16 trillion won.

It was part of a 50 trillion won package to support credit markets, which focused on buying commercial paper and other debt issued by financial institutions.

On Thursday, the BOK announced that it would relax guarantee policies for local financial institutions seeking loans from the bank.

The bank will also open a temporary repurchase facility worth about 6 trillion won ($4.24 billion) for local financial institutions to support the smooth functioning of financial markets.

The measures come as the yield on 91-day commercial paper jumped to 4.55% on Thursday, its highest level in 13 years, from 1.55% at the start of the year. The country’s benchmark stock index was little taken aback by the default news.

The theme park opened in May.

Caught off guard by the default, even corporate bond sales by AAA-rated state-owned Korea Electric Power Corp. failed to get enough bidders on Tuesday.

“The Legoland issue has really raised concerns about a credit crunch and others are also worried about the financial conditions of some brokerages and construction companies,” said Han Kwang-yeol, an analyst at NH Investment & Securities. .

“The recovery in this credit market will be slow as central banks around the world continue to raise rates to rein in inflation.”

To ease market jitters, Gangwon Province, which is required to repay the loan as GJC’s public debt guarantor, said Thursday it would pay the full 205 billion won in full by May 15. december.

“The decision (to repay the debt) was coordinated with the government, including the Ministry of Economy and Finance,” said Jeong Kwang-yeol, vice governor for economic affairs of Gangwon province.

Lee Bok-hyun, the governor of the Financial Supervisory Service, said separately that he expects market nerves to subside by next week.

“Today we saw Gangwon Province’s detailed debt repayment plans for Legoland. After the weekend, market sentiment will improve,” Lee told reporters in Incheon, Yonhap reported. News.

(Reporting by Cynthia Kim; Editing by Christian Schmollinger, Ana Nicolaci da Costa and Kim Coghill)

Copyright 2022 Thomson Reuters.

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MeridianLink Announces Third Quarter 2022 Financial Results Conference Call https://granlogiacostarica.org/meridianlink-announces-third-quarter-2022-financial-results-conference-call/ Mon, 24 Oct 2022 20:05:00 +0000 https://granlogiacostarica.org/meridianlink-announces-third-quarter-2022-financial-results-conference-call/

COSTA MESA, Calif.–()–MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer intelligence agencies, will report its third quarter 2022 financial results after the close of market on Monday, November 7, 2022, with a conference call and webcast to follow at 2:00 p.m. Pacific Time (5:00 p.m. Eastern).

MeridianLink Third Quarter 2022 Financial Results Conference Call

  • When: Monday, November 7, 2022

  • Time: 2:00 p.m. PT (5:00 p.m. ET)

  • Conference call: (888) 396-8049 from within North America toll-free or via participant’s local number (416) 764-8646 with conference ID 03374737

  • Webcast: ir.meridianlink.com; the replay will also be archived on this site

  • Phone Replay: (877) 674-7070 from North America or (416) 764-8692 as a local participant with conference ID 374737; available until 8:59 p.m. PT (11:59 p.m. ET) on Monday, November 14, 2022

About Meridian Link

MeridianLink® (NYSE:MLNK) is a leading provider of cloud-based software solutions for financial institutions, including banks, credit unions, mortgage lenders, specialty loan providers and reporting agencies on consumers. Based in Costa Mesa, Calif., MeridianLink provides services to more than 1,900 customers, including the majority of financial institutions on Forbes’ 2021 lists of America’s Top Credit Unions and Banks. Further information can be found at www.meridianlink.com.

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