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 the nation’s growth potential. Sri Lanka defaulted on its foreign debt in ..

Tags: Economic Crisis • economic crisis in srilanka • Sri lanka

Month: Current Affairs - March, 2023

Category: Economy & Banking Current Affairs - 2022

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 moment for Pakistan. And China stepped in offering 700 million USD to ..

Tags: China-Pakistan • Economic Crisis • Foreign exchange • Pakistan

Month: Current Affairs - February, 2023

Category: Economy & Banking Current Affairs - 2022 • International / World 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 country shall survive the economic crisis. There are 23 big banks in ..

Tags: Economic Crisis • exploratory market shock • US Federal Reserve • wall street

Month: Current Affairs - February, 2023

Category: Economy & Banking Current Affairs - 2022

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 declining. Foreign Exchange reserves of the country have been decreasing. To help ..

Tags: Bangladesh • Economic Crisis • Foreign exchange reserves • Taka

Month: Current Affairs - January, 2023

Category: Economy & Banking Current Affairs - 2022 • International / World 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 from the 8.00% recorded in November. The urban unemployment rate also saw ..

Tags: Economic Crisis • Economic downturn • India's economy • Job market trends • Joblessness

Month: Current Affairs - January, 2023

Category: Economy & Banking Current Affairs - 2022 • Reports & Indexes 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 billion USD in 2021. What are the key findings of the report? ..

Tags: Africa • Debt crisis • Economic Crisis • sub-Saharan Africa

Month: Current Affairs - December, 2022

Category: International / World Current Affairs • Reports & Indexes Current Affairs