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Sri Lanka finance minister sacked, central bank governor calls it quits

The debt-laden country, run by Rajapaksa and several members of his family since 2019, is struggling to pay for imports of fuel and other goods due to a scarcity of foreign exchange

Sri Lanka's PM Mahinda Rajapaksa may resign amid growing economic unrest

Sri Lanka's Prime Minister Mahinda Rajapaksa and Finance Minister Basil Rajapaksa may step down as early as Sunday as public anger builds against their economic policies

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

India's forex reserves down by $2.03 billion to $617.648 billion

Continuing their downward trajectory for 3rd consecutive week, India's foreign exchange reserves declined by USD 2.03 billion to stand at USD 617.648 billion in week ended March 25, RBI data showed

India's chance to offer a salve

Sri Lanka's recent travails actually started in 2014-15 with an unlikely coalition of rival parties cobbled together by former President Maithripala Sirisena

Curfew in Sri Lanka after inflation protesters gather at President's home

The island of 22 million people is experiencing rolling blackouts for up to 13 hours a day because the government does not have enough foreign exchange for fuel imports.

Lanka to turn off street lights in deepening economic crisis; shares dive

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

IMF warns Russia sanctions can chip away dollar dominance: Report

Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the U.S. dollar and could result in a more fragmented international monetary system, IMF's Gita Gopinath said

Crisis-hit Sri Lanka in talks with India for another $1.5-bn credit line

The country of 22 million people is struggling to pay for essential imports after a 70% drop in foreign exchange reserves in two years led to a currency devaluation

Sri Lanka facing 'solvency' issues due to unsustainable debt levels: IMF

A summary of the IMF report released earlier in the month said Sri Lanka faced unsustainable debt levels and needed a 'credible and coherent' strategy to restore stability

IMF approves $44 bn extended arrangement for Argentina to tackle inflation

The International Monetary Fund (IMF) Executive Board approved a $44 billion extended arrangement for Argentina to strengthen the country's debt sustainability and tackle high inflation

Gold, asset devaluation pulls India's forex reserve down by $2.597 bn

Reserve Bank of India data showed that India's forex reserves fell to $619.678 billion from $622.275 billion reported for the previous week

Pakistan: Opposition finalizes strategy ahead of no-confidence vote

Imran's situation is precarious given that three of the four allies have stated their support to the Opposition's no-confidence motion and said that they will vote accordingly

US dollar's dominance is being stealthily eroded, says IMF report

Reserve managers have moved out of dollars in two directions, with one quarter headed into the renminbi and three quarters into currencies of smaller countries

Imran's fall from grace is his own fault and tragic for Pakistani democracy

Even if he survives, he will find his political capital severely dented - and be even more in debt to the military

Sri Lanka in talks with China for $2.5 bn credit support: Chinese official

Chinese ambassador to Sri Lanka Qi Zhenhong told reporters the two sides were also discussing a separate loan of up to $1 billion which the Sri Lankan government had requested

Sri Lanka nears crisis

More help needed for the island nation's faltering economy

IMF asked Pak to show how it would fund $1.5 bn subsidy package: Minister

The International Money Fund (IMF) has asked Pakistan to explain how it would fund a $1.5 billion subsidy package announced by Prime Minister Imran Khan, Finance Minister Shaukat Tarin said on Sunday

India's forex reserves dip by $9.64 billion, the biggest drop in 2 years

This sharp decline in the country's foreign currency assets coincides with the week during which the rupee hit an all-time low

Argentina's $45 bn debt deal with IMF gets final legislative approval

Argentina's Senate gave final legislative approval Thursday for President Alberto Fernndez's administration to refinance government's $45 bn debt with International Monetary Fund and avoid a default