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Colombo: Sri Lanka’s economy is in dire straits with its usable foreign reserves down to less than $50 million, the country’s finance minister said Wednesday. Ali Sabry was speaking to Parliament after returning to Sri Lanka from talks with the International Monetary Fund. He said any IMF rescue program, including a rapid financing instrument needed […]
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By V Thiagarajan The International Monetary Fund (IMF) recently slashed its forecast for global economic growth by nearly a full percentage point citing Russia’s war in Ukraine, and warned that the world must brace itself for an economic slowdown as well as a burst in inflation. The IMF expects inflation to remain elevated throughout the […]
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The biggest risks of the unregulated cryptocurrency market are money laundering and terror financing. It is for this reason that India has made a strong case for regulating cryptocurrencies at a global level. Since the regulation cannot be done by a single country within its terrain, it has to be a global initiative to figure […]
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The woes of the middle class and the poor, already reeling under the impact of the coronavirus pandemic, are expected to worsen in the days ahead with the soaring inflation. The latest figures released by the Centre show that the wholesale inflation, as measured by the wholesale price index (WPI), rose to 14.5% in March, […]
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Rising debt, shrinking foreign reserves, dismal fiscal and the pandemic are sinking the island nation Sri Lanka needs to make nearly $7 billion in payments on foreign loans this year. And its foreign reserves are dwindling fast. It faces huge debt obligations and is grappling with its worst economic meltdown since independence in 1948. The […]
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Credit ratings are penalising poorer countries for investing in healthcare during the pandemic
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The govt must act to quickly rein in the runaway inflation before it inflicts further distress on people and erodes the demand, making an equitable recovery even more difficult
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Rising unemployment and plunging demand have once again turned the spotlight on the gloomy urban economy
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While one can take comfort in IMF’s praise for India’s “very decisive” steps to deal with the pandemic, several challenges need to be overcome
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India's GDP growth was forecast to dip in 2022 calendar year to 5.9 per cent, according to the report.
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Centre must increase public spending to stimulate demand and strengthen growth momentum
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In the previous week ended October 9, 2020, the reserves had increased by $5.867 billion to reach $551.505 billion
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The fiscal support must tilt towards more direct spending and tax relief
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World Bank President David Malpass welcome countries that are keeping open their export markets, and also countries that are able to change their subsidy systems in order to allow more food availability.
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The virus is still spreading rapidly worldwide, with over one million deaths and 37 million infections.
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India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging economy, IMF said
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IMF says growth to be -4.4 per cent in 2020 due to the impact of the coronavirus pandemic
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Argentina is hoping to renegotiate repayments on the debt agreed in 2018 under previous president Mauricio Macri.
