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Latest Articles in economic crisis
Lankan Parliament Approves Plan To Restructure Nation’s Internal Debt
Sri Lanka tumbled into its worst financial crisis in more than seven decades last year after the country's dollar reserves shrank to record lows, triggering mass protests, a foreign debt default and the resignation of its former president
Read MoreHopeful Of This IMF Programme Being Last: Pak PM Shehbaz Sharif
On Friday, Information Minister Marriyum Aurangzeb announced that the premier and the finance minister would address the public today to "inspire confidence" in the IMF deal, as per Dawn
Read MoreSri Lanka Seeks For 30% Haircut From Dollar Debt Holders
Sri Lanka is struggling with its worst financial crisis since its independence from Britain in 1948 after the country's foreign exchange reserves hit record lows and triggered its first foreign debt default last year
Read MorePakistan Receives $1 Bn Loan From China
"This is to inform you that USD 1 billion has been received from China," said the central bank in a brief message to journalists on Friday night
Read MorePakistan’s FDI Declines To $17 Bn In Current Financial Year
Pakistan's Ministry of Finance has warned of challenges originating from uncertain external and domestic economic environments, including higher inflation and external debt repayments, due to lesser foreign exchange inflows
Read MorePakistan Aims For Fiscal Deficit Of 6.54% In Its Budget, IMF To Monitor
The budget needs to satisfy the IMF to secure the release of stuck bailout money for the crisis-struck country, which is due to hold a general election by November
Read MoreTrouble Mounts For Pakistan Govt As IMF Rejects Loan Request
Minister of State for Finance Dr Aisha Pasha, in a policy statement delivered during the National Assembly Standing Committee on Finance, stressed that Pakistan's only choice was to return to the IMF
Read MoreHR Platforms Mitigate the Impact of Mass Layoffs, Say Experts
Though the tech layoff is making headlines, other working fields are also drastically burning with the layoff trends. Amidst this fearsome situation, the human resource or recruiting agency is playing a significant role in balancing the stress among the workers and chaos within the companies
Read MoreIndia Provides $1 Bn Credit Line To Sri Lanka For A Year
The credit line, part of about USD 4 billion in emergency assistance extended by India during the peak of Sri Lanka's financial crisis early last year, was scheduled to end in March
Read MoreBW Explains: Global Climate Change & Its Impact On South Asian Countries
While climate change affects every living being and region worldwide, economically disadvantaged or developing countries bear a larger burden and are disproportionately affected by it
Read MoreAmid Reeling Economic Crisis, Pakistan Faces Shortage Of Live-saving Drugs
As a result of medicine suppliers stopping their supply due to dollar-to-rupee differences, both public and private healthcare facilities are experiencing a lack of imported vaccines, cancer treatments, reproductive medications and anaesthetic gases
Read MoreSri Lanka Seeks $1 Bn In Credit From India For Essential Items: Report
Last week, Sri Lanka received the first tranche of the USD 3 billion International Monetary Fund (IMF) bailout plan to help it overcome its economic crisis and catalyse financial assistance from other development partners
Read MorePakistan's Economy Now Depends On Gulf States To Bailout Crisis
The IMF review mission was forced to put forth this condition because representatives of these countries are on the Executive Board of the IMF
Read More'No Compromise' On Nuke Program, Says Pak's Finance Minister Amid Cash Crunch
Speaking at the Senate session on Thursday, Pakistan Finance Minister Ishaq Dar said, "Let me assure you that nobody is going to compromise anything on the nuclear or the missile program of Pakistan — no way"
Read MoreIndia Continues To Support Debt-ridden Sri Lanka, Distributes Ration
During the Raisina Dialogue, Sri Lanka's Foreign Minister Ali Sabry said India helped Sri Lanka more than any other country, especially when the island nation was struggling to come out of an unprecedented crisis
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