Developing nations are facing a catastrophic debt crisis in the coming months as rapid inflation, slowing growth, rising interest rates and a strengthening dollar coalesce into a perfect storm that could set off a wave of messy defaults and…
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Sri Lanka has aimed at increasing tax revenue by 69% to fund government spending in the crisis-hit economy, but analysts say the 2023 budget failed to address core issues on excess spending and articulate strong policies on restructuring…
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Sri Lanka’s fiscal situation has been facing turmoil since the global financial crisis of 2008 as well as the 26-year-long civil war that ended in 2009, draining the country of valuable resources over the years
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There is no doubt that International Monetary Fund (IMF) loans often come with a set of conditionalities that most countries find unfavourable to implement. With its ongoing economic crisis and complex multilateral debt negotiations between…
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The recent tax proposals have created quite a ruckus in all quarters of Sri Lanka. While the popular opinion was that economic reforms would be opposed by the poor and the trade unionists, those who understand the political economy of Sri…
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Even if Saudi Arabia and other leading oil-exporting countries cut their production targets this week, spurning US efforts to keep supplies flowing, the move may barely register in global oil prices
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Sri Lanka’s economy likely shrank the most in two years amid a debt crisis that triggered a default and widespread protests that brought the nation to a standstill leading to the ouster of the president
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China is the world's largest bilateral lender but discloses little on lending conditions and also on how it renegotiates with borrowers in distress, so interest in how it handles Zambian debt is intense, particularly as more countries such…
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Sri Lanka's International Monetary Fund (IMF) bailout plan could be a turning point in its worst economic crisis, but far-from-stable politics and a need to get debt relief from competing powers China, India and Japan means some of the…
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As the government of Bhutan prepares to reopen its borders on Sept. 23, it has overhauled the tourism system and will significantly raise the cost to visit
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