"WASHINGTON, May 18 (Reuters) - The Pentagon overestimated the value of the ammunition, missiles and other equipment it sent to Ukraine by around $3 billion, a Senate aide and a defense official said on Thursday, an error that may lead the way for more weapons being sent to Kyiv for its defense against Russian forces."

"With the U.S. economy on the verge of another significant recession as a result of the global coronavirus pandemic, social media users of all ages are going online to argue about which generation has suffered more at the hand of past economic downturns."

"Russia made good on payments to foreign bondholders, according to investors and traders, averting default on its foreign debt in the face of the war in Ukraine and punishing Western sanctions."

"As of Wednesday Russia has been scheduled to pay investors holding two dollar-denominated government bonds $117m in interest payments. It will likely make the payments, but probably in roubles rather than dollars." 

"I have seen this movie before. I was a Russian analyst in 1998, in fact in London. And it is very difficult to contain those secondary effects. There is already over 100 Russian municipal, corporate and financial institution issuers that are already at double C or C, in terms of the rating, so incredibly close to default."
 

"The Russian government made a $117 million interest payment to foreign bondholders on Wednesday, averting what would have been its first foreign debt default since the Bolshevik Party shocked Western investors in 1918 by refusing to repay the borrowings of Czar Nicholas II."

By Jessica Elgot, Peter Walker, and Rupert Neate, includes “Boris Johnson suffered another major blow to his authority on Monday after a Treasury minister staged a dramatic public resignation over the government’s decision to write off £4.3bn in fraudulent Covid loans. … Speaking in the House of Lords, he accused the government of ‘arrogance, indolence and ignorance’ in its attitude to tackling fraud estimated to cost £29bn a year.”

Includes “Bailout is a general term for extending financial support to a company or a country facing a potential bankruptcy threat. … Bailouts also have their disadvantages. Anticipated bailouts encourage a moral hazard by allowing not only promoters but also other stakeholders (customers, lenders, suppliers) to take higher-than-recommended risks in financial transactions. ”

By Vaibhav Tanddon, includes “Juggling is a skilled art requiring precise manipulation of objects. Achieving proficiency requires great balance and coordination. A comparable form of legerdemain is found in the economic and financial world. Budgetary juggling involves the use overly generous economic assumptions or accounting gimmicks to create the illusion of solvency. ”

By Katya Golubkova (Reuters), includes “Ahead of parliamentary elections last year Putin ordered one-off social payments and public sector salary hikes worth at least 500 billion roubles ($7 billion), which analysts said may further fuel inflation. …’Previously taken decisions will not cover for people’s expenses resulting from accelerated inflation last year,’ Putin told a government meeting. …”