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Sri Lanka economic crisis: Will not be able to repay debts for six more months, says Central Bank governor
World

Sri Lanka economic crisis: Will not be able to repay debts for six more months, says Central Bank governor

Central Bank of Sri Lanka Governor Nandalal Weerasinghe said there will be no debt servicing until the country was able to restructure its $51-billion external debt

Pakistani rupee plunges to all-time low against US dollar
World

Pakistani rupee plunges to all-time low against US dollar

The Pakistani rupee on Thursday continued its downward slide against the US dollar as it dropped to an all-time low, surpassing 191 in the interbank market

IMF is wrong: India doesn’t have to wait till 2029 to be a $5 trillion economy; it can still be done by 2025
Opinion

IMF is wrong: India doesn’t have to wait till 2029 to be a $5 trillion economy; it can still be done by 2025

The intentions, estimates, and projections of the International Monetary Fund should always be taken with a pinch of salt. Here’s why

Sri Lankan Speaker calls for party leaders' meeting to discuss constitutional reforms: Report
World

Sri Lankan Speaker calls for party leaders' meeting to discuss constitutional reforms: Report

The SJB presented the draft 21st constitution amendment bill to the secretary-general of parliament with proposals including the abolition of the current executive presidential system

India-US relationship has moved forward and deepened, says finance minister Nirmala Sitharaman
Business

India-US relationship has moved forward and deepened, says finance minister Nirmala Sitharaman

Nirmala Sitharaman said India's relationship with the US is improving each day

Global economic crisis: IMF urges India to prioritise food security, expand transfers to vulnerable
World

Global economic crisis: IMF urges India to prioritise food security, expand transfers to vulnerable

Observing that inflation in India is somewhat elevated, Paolo Mauro, deputy director, Fiscal Affairs Department of the IMF said that it is a little bit above the comfort zone for the Central Bank, which is addressing that issue

India's high growth rate positive news for world, says IMF's Kristalina Georgieva
World

India's high growth rate positive news for world, says IMF's Kristalina Georgieva

While the global growth has been projected at 3.6 per cent in 2022, down from 6.1 per cent in 2021, India's growth is projected for this year to be 8.2 per cent

Global financial leaders discuss debt crisis in IMF-World Bank meeting in wake of Sri Lankan problem
World

Global financial leaders discuss debt crisis in IMF-World Bank meeting in wake of Sri Lankan problem

Sri Lanka is witnessing large-scale protests against the government's handling of the debt-ridden economy — the worst-ever economic crisis in the country's history

World Bank ready to provide emergency support to Sri Lanka, says report
World

World Bank ready to provide emergency support to Sri Lanka, says report

Sri Lanka, which is on the brink of bankruptcy, is grappling with an unprecedented economic turmoil, the worst since its independence from Britain in 1948

IMF asks Sri Lanka to 'restructure' its huge foreign debt before bailout
World

IMF asks Sri Lanka to 'restructure' its huge foreign debt before bailout

IMF in a statement said, 'Approval of an IMF-supported program for Sri Lanka would require adequate assurances that debt sustainability will be restored'

Sri Lanka requests IMF for rapid financial aid amidst current economic crisis
World

Sri Lanka requests IMF for rapid financial aid amidst current economic crisis

Sri Lanka, which is on the brink of bankruptcy, is grappling with an unprecedented economic turmoil, the worst since its independence from Britain in 1948

Finance Minister Sitharaman meets IMF chief, discusses impact of recent 'geopolitical developments' on global economy
World

Finance Minister Sitharaman meets IMF chief, discusses impact of recent 'geopolitical developments' on global economy

During the meeting, IMF Chief Kristalina Georgieva highlighted India's well-targeted policy mix that has helped the Indian economy remain resilient even with a limited fiscal space

Sri Lanka fuel prices rise ahead of crucial bailout talks with IMF
World

Sri Lanka fuel prices rise ahead of crucial bailout talks with IMF

Lanka IOC, a fuel retailer which accounts for a third of the market, said it raised the cost of diesel by 75 rupees to 327 a litre while petrol was hiked by 35 to 367 rupees

Pakistan: Shehbaz Sharif government decides to resume talks with IMF for package revival
World

Pakistan: Shehbaz Sharif government decides to resume talks with IMF for package revival

This comes at a time when the previous Imran Khan government by decreasing energy prices pushed the country's economy and the revival of the USD 6 billion IMF programme into jeopardy

Sri Lankan delegation heads to US to seek $4 billion bailout package from IMF
World

Sri Lankan delegation heads to US to seek $4 billion bailout package from IMF

The people of Sri Lanka are facing crippling 12-hour power cuts, and an extreme scarcity of food, fuel and other essential items such as medicines

Crises slowing economic growth worldwide, says IMF chief
Business

Crises slowing economic growth worldwide, says IMF chief

The IMF is due to release its updated economic forecasts on Tuesday, which Kristalina Georgieva said will further downgrade the estimate for global growth that was cut to 4.4 per cent in January

IMF unveils Resilience and Sustainability Trust to help 'vulnerable' countries
Sports

IMF unveils Resilience and Sustainability Trust to help 'vulnerable' countries

IMF Managing Director Kristalina Georgieva said the goal of the trust is to redistribute funds from wealthier countries to more vulnerable ones as members look to support global economic recovery from the COVID-19 pandemic

Russia's war on Ukraine threatens to devastate economies of many developing countries: UN
World

Russia's war on Ukraine threatens to devastate economies of many developing countries: UN

United Nations chief Antonio Guterres said the war is 'supercharging' a crisis in food, energy and finance in poorer countries that were already struggling to deal with the pandemic, climate change and a lack of access to adequate funding

Sri Lankan delegation set to meet IMF officials in Washington
Business

Sri Lankan delegation set to meet IMF officials in Washington

The IMF has noted that the country faces mounting challenges, including public debt that has risen to unsustainable levels, low foreign currency reserves, and persistently large financing needs in the coming years

How Imran Khan’s ‘Naya Pakistan’ narrative doesn’t hold much water, but don’t write him off yet
World

How Imran Khan’s ‘Naya Pakistan’ narrative doesn’t hold much water, but don’t write him off yet

In politics, as in sports, one should never write obituaries till the last ball is bowled. More so when someone is as wily and opportunist as Imran Khan