World Bank slashes global growth forecast to 2.9%, warns of 1970s-style stagflation
KEY POINTS The World Bank slashed its global growth forecast on Tuesday to 2.9% for 2022. The Bank warned thatContinue Reading
Category: Business
China Shifting Focus to Southeast Asia, Sri Lanka President Says
(Bloomberg) — China appears to be shifting its strategic focus toward Southeast Asia and Africa, Sri Lanka’s President Gotabaya RajapaksaContinue Reading
Sri Lanka will need $5 bln in next six months for essentials -prime minister
COLOMBO, June 7 (Reuters) – Sri Lanka’s cash-strapped government will need at least $5 billion in the next six monthsContinue Reading
Sri Lanka holds its breath as new P.M fights to save economy
COLOMBO, Sri Lanka (AP) — It has been nearly three weeks since Ranil Wickremesinghe took over as prime minister of Sri LankaContinue Reading
Sri Lanka In Diplomatic Spat Over Confiscated Russian Plane
Sri Lanka’s main airport on Saturday denied the island nation’s government was behind a decision to detain an Aeroflot aircraft,Continue Reading
Sri Lanka Can’t Use $1.5 Billion China Swap on IMF Concerns
(Bloomberg) — Bankrupt Sri Lanka can’t tap a $1.5 billion credit line from China as the Chinese are concerned theContinue Reading
Sri Lanka Detains Russian Aeroplane
(AFP)-A Russian-operated aeroplane was seized in Sri Lanka Thursday shortly before it was due to return to Moscow with nearlyContinue Reading
Sri Lankans turn to social media for help as economic crisis bites
Fuel, medicine run short in deep economic crisis Many turn to online platforms for mutual aid Poor and vulnerable leftContinue Reading
Sri Lanka seeking $3 Billion under IMF Extended Fund Facility – sources
COLOMBO/LONDON, June 1 (Reuters) – Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least $3 billionContinue Reading
Crisis-hit Sri Lanka Hikes Tax Rates To Maximise Govt Revenues as Inflation Hits a Record 39% in May
Sri Lanka’s cash-strapped government on Tuesday announced a taxation overhaul to boost revenue amid the country’s crippling economic crisis, hikingContinue Reading
