Economic Crisis Current Affairs, GK & News

Sri Lanka’s inflation spikes to 70.2%

Sri Lanka recorded 70.2 per cent inflation rate for August 2022. Key facts Sri Lanka’s inflation has increased to 70.2 per cent in August. In July, the country recorded 66.7 per cent. The National Consumer Price Index (NCPI) has increased 2.5 per cent in August, as the food prices increased 1.7 per cent and prices ..

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Public Emergency in Sri Lanka

Sri Lanka’s president Gotabaya Rajapaksa has declared a state of emergency in the country which gives sweeping powers to the country’s security forces. This was declared after hundreds of citizens of the county tried to storm his house seething with anger over the economic crisis Sri Lanka is facing. Overview: The tough laws that were ..

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IMF approves $650 billion for poor countries to tackle Covid

Member nations of the International Monetary Fund have approved the injection of $650 billion to help countries in dealing with mounting debt and economic fallout because of Covid-19 pandemic. Highlights These reserve assets, called as special drawing rights, have been created first time after 2009 global financial crisis when $250 billion were issued. It will ..

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Riots in Lebanon over economy

Lebanese troops were deployed in northern city of Tripoli on June 27, 2021 to take positions across major state institutions following a night of protests and riots against worsening living conditions in the country. Ground situation Riots have left several protesters and 10 soldiers injured. Protests were reported throughout Lebanon after its 20-month economic crisis ..

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Moody’s: India’s growth projection at 9.6 per cent for 2021

Moody’s Investors Service has reduced India’s growth forecast to 9.6 per cent for 2021 from the earlier forecast of 13.9 per cent. According to it, growth will restrict to 7 % in 2022. Highlights Growth forecast was published in its report called ‘Macroeconomics India: Economic shocks from second COVID wave will not be as severe ..

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NHRC advisories on Bonded Labourers & Migrant Workers

National Human Rights Commission (NHRC) has issued advisories on bonded labourers & migrant workers amid covid-19 cases. What are those advisories? Advisories were issued to ministries and states to look after adverse impact of covid-19 on labourers and migrant informal sector workers. NHRC, looking after adverse effects of pandemic on different sections of society, issued ..

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