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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Putting equal onus on rich global north and developing global south, the Paris Club creditor nations are proposing a 10-year moratorium on Sri Lankan debt and another 15 years of debt restructuring as a formula to resolve the current…
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The depth of the Sri Lankan collapse has been stunning. Like many developing economies, it relies on imports of food, fuel and fertilizer. Russia’s invasion of Ukraine has constrained supplies and substantially raised the prices of all…
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The world's poorest countries now owe $62 billion in annual debt service to official bilateral creditors, an increase of 35% over the past year, World Bank President David Malpass said on Thursday (Dec 1), warning that the increased burden…
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Policymakers in Asia and Africa voiced growing economic optimism at a Reuters conference on Wednesday (Nov 30), chiming with a rally in emerging markets, an expected slowdown in US rate hikes and an easing of COVID restrictions in China
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Sri Lanka is discussing with the World Bank (WB) and Asian Development (ADB) to get loans of 1.9 billion US dollars after a reform program with the International Monetary Fund (IMF) is approved, former Central Bank Governor Indrajit…
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Sri Lanka's central bank on Thursday (24) threatened administrative intervention to control high market interest rates that it regarded as out of line with its policy rates and the outlook for falling inflation
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Sri Lanka's central bank (CBSL) held interest rates steady on Thursday (24), as widely expected, but said it expected a moderation in market interest rates in line with prevailing policy rates
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The dramatic fuel shortages that accompanied mass protests in Sri Lanka earlier this year may have eased, but for millions of Sri Lankans the economic crisis is worse than ever
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Nomura has warned that seven countries - Egypt, Romania, Sri Lanka, Turkey, Czech Republic, Pakistan and Hungary - are now at a high risk of currency crises
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