Government debt and budget deficits are both set to spiral higher in the coming three decades if current patterns hold, according to new projections released by the Congressional Budget Office. Due largely to increases in Medicare and Social Security costs, the federal debt will reach 150 percent of GDP in 2047. Source: CNBC
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Saudi Arabia’s National Water Co. is seeking financial advisers to arrange the sale of parts of the country’s water distribution network, according to people familiar with the matter. Source Gulf News
The ‘Joint Sea 2017’ drills of the Russian and Chinese naval forces have begun the first stage of major exercises, marking the first time they have taken place in Europe. Source RT
The International Monetary Fund late on July 20 approved a one-year, $1.8 billion loan program for Greece but will not release any funds until the eurozone agrees on a debt relief plan, in a highly unusual compromise step. Source: Daily News