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China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves
1 year, 10 months ago

China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves

News 18  

Watching warily Pakistan plunging into the worst economic crisis with prospects of defaulting on foreign loans, China which holds Islamabad’s largest debt on Monday said it backed measures taken by its “all-weather friend” to tide over the disastrous situation and hoped it will, in the end, pull through. Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion …

China Pakistan Sri Lanka Bank Debt Billion Lanka
Will India face Sri Lanka, Pakistan-like economic crisis? Raghuram Rajan's reply
2 years, 4 months ago

Will India face Sri Lanka, Pakistan-like economic crisis? Raghuram Rajan's reply

Hindustan Times  

Former Reserve Bank of India governor Raghuram Rajan on Saturday said the central bank has done a good job in increasing the foreign exchange reserves and the country would not face the economic problems like Sri Lanka and Pakistan. Sri Lanka’s inflation surged to 60.8 per cent in July, up from 54.6 per cent in June, the crisis-hit country's statistics …

India Pakistan Sri Lanka Inflation Economic Billion Cent
Going South: Emergency in Sri Lanka, Forex Dip in Pak & Nepal's Money Woes Put India's Neighbours on Back Foot
2 years, 7 months ago

Going South: Emergency in Sri Lanka, Forex Dip in Pak & Nepal's Money Woes Put India's Neighbours on Back Foot

News 18  

Sri Lanka’s deepening economic crisis took a turn for the worse on Friday night when President Gotabaya Rajapaksa declared a state of emergency in the island nation amid mounting public resentment. Nepal Last week, Nepal banned imported liquor, playing cards and nearly a dozen other “non-essential” goods to address the Himalayan country’s widening trade deficit and declining foreign currency reserves. …

India China Pakistan Sri Lanka Reserves Forex Reserves Money Woes
Colombo Stock Exchange to remain shut for 5 days as Sri Lanka struggles to combat forex crisis
2 years, 8 months ago

Colombo Stock Exchange to remain shut for 5 days as Sri Lanka struggles to combat forex crisis

India Today  

The Colombo Stock Exchange will remain temporarily closed for a week from Monday to provide investors an opportunity to have "more clarity and understanding" of the current economic conditions in crisis-hit Sri Lanka that would help them "to make informed investment decisions," it was announced on Saturday. "The stock market will remain temporarily closed for a period of five business …

Market Sri Lanka Economic Stock Sec Colombo Stock Exchange Forex Crisis
Crisis-hit Sri Lanka announces debt default
2 years, 8 months ago

Crisis-hit Sri Lanka announces debt default

India TV News  

Highlights Sri Lanka’s external debt servicing obligations were thought to be over USD 6 billion In January, a USD 500 million sovereign bond payment was settled In July, another one-billion-dollar payment becomes due Faced with critically low forex reserves, Sri Lanka on Tuesday announced that the crisis-stricken country will default on its external debt pending a bailout package from the …

Sri Lanka Debt Crisis Lanka Sri Sri Lankan
Sri Lanka's forex crisis bodes ill for tottering economy
2 years, 8 months ago

Sri Lanka's forex crisis bodes ill for tottering economy

The Hindu  

A t 11.20 a.m. on March 30, as the Chennai -Colombo SriLankan Airlines flight began its descent in Colombo, an announcement over the aircraft’s public address system gave out the usual instructions laced with pleasantries, welcoming all passengers to the Bandaranaike International Airport. Use only banks or authorised foreign exchange dealers appointed by the Central Bank of Sri Lanka to …

India Market Sri Lanka Money Bank Crisis Colombo
Sri Lanka Economic Crisis: Street Lights Off, Forex Reserves Exhausted; What Led To Chaos?
2 years, 8 months ago

Sri Lanka Economic Crisis: Street Lights Off, Forex Reserves Exhausted; What Led To Chaos?

News 18  

The economic crisis in Sri Lanka is deepening and the government there is taking strict measures, including imposing emergency, to deal with the protests over the country’s worst financial woe in decades. Forex Reserves Sri Lanka’s foreign exchange reserves have depleted by 70 per cent to USD 2.3 billion as of February in the past two years, thus impacting the …

Sri Lanka Pay Cent Lanka Street Lights Forex Reserves Reserves Sri
Explained | What caused the Sri Lankan economic crisis?
3 years, 3 months ago

Explained | What caused the Sri Lankan economic crisis?

The Hindu  

The story so far: Sri Lanka’s government declared an economic emergency last week amid rising food prices, a depreciating currency, and rapidly depleting forex reserves. The Sri Lankan government has blamed speculators for causing the rise in food prices by hoarding essential supplies and has declared an economic emergency under the Public Security Ordinance. Further, Sri Lanka’s central bank earlier …

Food Sri Lanka Prices Foreign Exchange Crisis Essential Goods Sri
EXPLAINED: Why Sri Lanka's Food Crisis Is Actually A Forex Problem
3 years, 3 months ago

EXPLAINED: Why Sri Lanka's Food Crisis Is Actually A Forex Problem

News 18  

Long queues have been reported at food markets and prices of staples are trending upwards as Sri Lanka grapples with an economic crisis that has hit imports and now forced the government to declare an emergency. According to reports, Sri Lanka President Gotabaya Rajapaksa declared the emergency under the public security ordinance with a view to stabilising the prices of …

Food Sri Lanka Prices Country Imports Crisis Covid
Sri Lanka declares economic emergency to contain food prices as forex crisis worsens
3 years, 3 months ago

Sri Lanka declares economic emergency to contain food prices as forex crisis worsens

The Hindu  

Sri Lankan President Gotabaya Rajapaksa has declared an economic emergency to contain soaring inflation after a steep fall in the value of the country's currency caused a spike in food prices. President Rajapaksa on Tuesday declared the state of emergency under the public security ordinance to prevent the hoarding of essential items, including rice and sugar. “The president has promulgated …

Sri Lanka Emergency Rice Prices Lanka Sri