Page 29 - Economic Crisis

Lanka economic crisis: Ruling coalition urges Prez to form all-party govt

Sri Lanka's former president Maithripala Sirisena's Freedom Party has called on President Gotabaya Rajapaksa to form an all-party government to tide over the worst economic crisis

Sri Lanka declares state of emergency amid economic crisis, unrest

Sri Lanka's President Gotabaya Rajapaksa has declared a state of emergency in the country giving the security forces wide authority to arrest and detain suspects with immediate effect.

How Sri Lanka's economy spiralled into crisis: An explainer

A severe shortage of foreign currency has left Rajapaksa's government unable to pay for essential imports, including fuel, leading to debilitating power cuts lasting up to 13 hours

Sri Lanka lifts curfew after violent protests over economic crisis

Hundreds of protesters gathered near Rajapaksa's residence in a Colombo suburb late on Thursday before police moved in to disperse them with tear gas and water cannons

Protests near president's residence act of terrorism: Sri Lankan govt

The Sri Lankan government on Friday termed the violent demonstration near President Gotabaya Rajapaksa's residence over the current economic crises as "an act of terrorism"

Sri Lanka to turn off street lights in deepening economic crisis

The island of 22 mn people is struggling with rolling blackouts for up to 13 hours a day because the govt does not have enough foreign exchange for fuel imports

Sri Lanka to turn off street lights as minister says power cuts to extend

Sri Lanka is turning off its street lights to save electricity, a minister said on Thursday, as its worst economic crisis in decades brought more power cuts and gloom to its main stock market

Russia says sanctions leading to economic crisis of historic proportions

An attempt by the West to isolate Russia is leading to an economic crisis of historic proportions, said Vasily Nebenzya, Permanent Representative of Russian to the UN.

Sri Lanka avoids recession in Dec quarter, GDP grows 3.7% in 2021

Sri Lanka's economy grew at a slower-than-expected 1.8% in the 4th quarter of the 2021 financial year, taking its full year growth to 3.7 per cent, data from the govt's statistics department showed

Growing political tension in Pak poses risks for economy: Finance Ministry

Pakistan's political situation is one of the main domestic risks to the economy due to uncertainty over the growing tensions between the government and opposition, the Ministry of Finance warned

Sudan risks sliding into economic and security collapse: UN envoy

The top UN envoy for Sudan warned that the country may risk sliding into an economic and security collapse and a worse humanitarian crisis.

Sri Lanka seeks additional $1-bn credit line from India: Report

Sri Lanka faces an economic crisis as it struggles to pay for essential imports of food and fuel after a 70% drop in foreign exchange reserves since January 2020

How is Sri Lanka's economic crisis affecting India?

Refugees from Sri Lanka are trickling in on India's southern shores. The effect of Sri Lanka's economic crisis is now being felt in India too. Find out how its economic condition is hitting India too

UN warns of worsening food crisis in Sudan amid economic deterioration

The UN has warned of a deepening food crisis in Sudan as result of the African country's economic downturn, displacement and devastated harvests.

Banking system stable, says Sri Lanka as $1.4-bn bonds near maturity date

Sri Lanka faces an economic crisis as it struggles to pay for essential imports of food and fuel

'Have to eat half': Sri Lankans feel pain of spiralling economic crisis

Thusitha Hadaragama stood at a corner store near his home in Sri Lanka's Minuwangoda town this week and surveyed groceries to buy for his family of five, including two school-age children

Cash-strapped Pakistan says China agreed to roll over $4.2 bn debt

Pakistan has said that China agreed to rollover $4.2 billion debt that was maturing this week, providing a major financial relief to the cash-strapped country.

Sri Lanka reforms its anti-terror law as EU reviews trade scheme

Vote on anti-terror law followed an EU Parliament resolution last year that called for a preferential trade scheme with Sri Lanka to be used as leverage for rights reforms in the South Asian nation

Sri Lanka sends troops to fuel stations, aims to restructure its debt

The country will also hire a global law firm to provide technical assistance on debt restructuring ahead of talks with the International Monetary Fund on the country's economic crisis

Imran Khan's subsidies to destroy Pak's economy for next administration

With the looming threat of a no-confidence motion, Pakistani PM Imran Khan is seemingly in a mood to provide subsidies to the general public even at the cost of the economy