Economic Crisis – GKToday

IMF’s $3 Billion Bailout Programme for Sri Lanka

On March 20, the International Monetary Fund (IMF) cleared a 3 billion-Extended Fund Facility (EFF) for Sri Lanka, aimed at restoring macroeconomic stability, safeguarding financial stability, and unlocking...

March 23, 2023 Economy & Banking Current Affairs

Pakistan receives $700 million from China

The foreign exchange reserves of Pakistan fell to 2.9 billion USD. It is now slowly rising to 4 billion USD. The cash injection was the need of the...

February 25, 2023 Economy & Banking Current Affairs

US Fed: Wall Street Bank Stress Test scenarios

The Federal Reserve of the United States is to create a hypothetical scenario of economic crisis. This is being done to check if the top-performing banks in the...

February 10, 2023 Economy & Banking Current Affairs

IMF 4.7 billion USD support program for Bangladesh

The Bangladesh Government has been facing several macroeconomic issues. The country holds a huge current account deficit. The value of the Taka, the currency of Bangladesh has been...

January 31, 2023 Economy & Banking Current Affairs

India’s Unemployment Rate Reaches Highest Level in 16 Months

According to data from the Centre for Monitoring Indian Economy (CMIE), India’s unemployment rate reached 8.30% in December, the highest level in 16 months. This marks an increase...

January 2, 2023 Economy & Banking Current Affairs

Sub-Saharan Africa’s Debt Burden at Record High

According to the International Debt Report 2022 by the World Bank, debt of low and middle-income countries in Sub-Saharan Africa (SSA) surged to a record high of 789...

December 10, 2022 International / World Current Affairs

2022 Nobel Prize for Economics

This year, the Nobel Prize for Economics was conferred to Ben Bernanke, Douglas Diamond and Philip Dybvig. Key facts The 2022 Nobel Prize for Economics recognized the works...

October 11, 2022 Awards, Honours & Persons in News

Poverty and Shared Prosperity Report 2022

The World Bank’s report titled “Poverty and Shared Prosperity 2022: Correcting Course” provides the first comprehensive assessment of the COVID-19 pandemic’s impact on poverty in developing countries. Key...

October 8, 2022 Economy & Banking Current Affairs

UK scraps tax cut for wealthy

In a policy reversal, the UK Prime Minister has scrapped the tax cut for the wealthy. This controversial tax cut had notably sparked market turmoil and caused the...

October 4, 2022 Economy & Banking Current Affairs

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...

September 23, 2022 International / World Current Affairs

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Topic: Economic Crisis