Topic: Economic Crisis
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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... 