Financial Crisis In World

The second tranche of the USD 2.9 billion IMF bailout for cash-strapped Sri Lanka would be finalised within the next month, central bank governor Nandalal Weerasinghe said on Friday. The government is expecting around USD 330 million as the second tranche of the USD 2.9 billion 4-year bailout, following the first one that was extended in March under the Extended Fund Facility (EFF) to support Sri Lanka's economic policies and reforms. Sri Lanka was hit by its worst economic crisis in history when the country's foreign exchange reserves fell to a critical low and the public came out on the streets to protest the shortage of fuel, fertilisers and essential commodities. We are making good progress with the first review. We will get the programme approved. What is required for that (is) assurances from bilateral creditors. The official creditor committee would be forthcoming, Governor of the Central Bank of Sri Lanka (CBSL) Weerasinghe told reporters. With that, there will be additiona

Indian policymakers must remain vigilant

Firm's CEO K Sukumar indicates that the rise in domestic consumption and growth in end-user industries has insulated the sector from the meltdown

Italian Foreign Minister Luigi Di Maio on Wednesday called on developed countries to take steps to ensure humanitarian access to crisis zones

The disruption caused by Covid-19 could potentially deglobalise the world at a faster pace than before

Crises are likely in countries which side-stepped trouble in 2007 by continuing their private debt bubbles

By 2008 the UK, US and Japan were all in recession as their real output had shrunk