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Sri Lanka Leader Says IMF Agreement Pushed Back After Unrest

Sri Lanka Leader Says IMF Agreement Pushed Back After Unrest

President Ranil Wickremesinghe on Friday wrote to 225 lawmakers in Parliament to join him in a multi-party government to face the crisis.

31 July 2022
Sri Lanka Foreign Trade Up Despite Economic Crisis; Exports To India Grows 21%

Sri Lanka Foreign Trade Up Despite Economic Crisis; Exports To India Grows 21%

India is placed third behind the US and UK as the biggest export market for Sri Lanka.

29 July 2022

International Community Will Not Let Cash-Strapped Pakistan To Become Sri Lanka: Report

The International Monetary Fund on Thursday confirmed that an agreement was reached with Pakistan, which is facing a serious economic crisis since last one year

Lessons From Sri Lanka: Over-Borrowing, A Trap You Must Avoid In Personal Finance

Lessons From Sri Lanka: Over-Borrowing, A Trap You Must Avoid In Personal Finance

With Sri Lanka, the issue of debt and over-borrowing is once again in focus. It’s a crisis from which the world can take lesson on reasons why one should...

12 July 2022

US Delegation Meets Sri Lankan President Rajapaksa: Discusses Economic Crisis

A four-member Indian delegation led by Foreign Secretary Vinay Kwatra met Sri Lankan President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe on...

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24 June 2022
Forex Reserves Dip By $5.87 Billion To $590.588 Billion

Forex Reserves Dip By $5.87 Billion To $590.588 Billion

In the reporting week, the forex reserves fell due to a dip in foreign current assets (FCAs), a major component of the overall reserves, and also in gold...


24 June 2022
EXPLAINED: Why Sri Lanka's Economy Collapsed And What's Next

EXPLAINED: Why Sri Lanka's Economy Collapsed And What's Next

Prime Minister Ranil Wickremesinghe, who took office in May, was emphasising the monumental task he faces in turning around an economy he said is heading for...


11 June 2022
India Shows Exemplary Resilience In Recovery From Covid-19 Crisis: CEA

India Shows Exemplary Resilience In Recovery From Covid-19 Crisis: CEA

Nageswaran was addressing an event on "Indian Economy: Prospects, Challenges and Action Points" at Haryana Institute of Public Administration (HIPA)


10 June 2022
IMF Planning To Send In-Person Mission To Crisis-Hit Sri Lanka: Spokesperson

IMF Planning To Send In-Person Mission To Crisis-Hit Sri Lanka: Spokesperson

International Monetary Fund Spokesperson Gerry Rice said the global financial body was committed to support Sri Lanka at this difficult time, in line with the...


10 June 2022
Concerned By Food, Fertilizer Export Restrictions, Welcome India's Decision To Relax Wheat Export Ban: IMF

Concerned By Food, Fertilizer Export Restrictions, Welcome India's Decision To Relax Wheat Export Ban: IMF

Last month, India announced that it was banning wheat exports in a bid to check high prices amid concerns of wheat output being hit by the scorching heat...


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09 June 2022
Krishna Srinivasan To head Asia-Pacific dept: IMF Managing Director

Krishna Srinivasan To head Asia-Pacific dept: IMF Managing Director

With over 27 years of FUnd experience in the IMF, Krishna Srinivasan has been appointed as the Director of the Asia and Pacific Department (APD).


20 May 2022
Forex Reserves Down By $2.676 Billion To $593.279 Billion

Forex Reserves Down By $2.676 Billion To $593.279 Billion

According to an article 'State of the Economy', published in the RBI's Bulletin for May, foreign exchange reserves at $596 billion as on May 6 were equivalent...


04 May 2022
Growth To Be In Range Of 7% To 8.5% Given Global Uncertainties: CEA Nageswaran

Growth To Be In Range Of 7% To 8.5% Given Global Uncertainties: CEA Nageswaran

The International Monetary Fund recently lowered its growth forecast to 8.2 per cent which is higher than 7.2 per cent by the Reserve Bank of India.


03 May 2022
India Extended Economic Assistance Of Over $3 Billion To Debt-Ridden Sri Lanka In 2022

India Extended Economic Assistance Of Over $3 Billion To Debt-Ridden Sri Lanka In 2022

On Monday, India had extended its current credit line by a further $200 million to replenish Sri Lanka’s rapidly depleting fuel stocks.  


24 April 2022
IMF To Support Sri Lanka’s Efforts To Overcome Economic Crisis

IMF To Support Sri Lanka’s Efforts To Overcome Economic Crisis

The crisis is caused in part by a lack of foreign currency, which has meant that the country cannot afford to pay for imports of staple foods and fuel, leading...


22 April 2022
India Extends Swap Facility Duration Worth $400 Million With Crisis-Hit Sri Lanka

India Extends Swap Facility Duration Worth $400 Million With Crisis-Hit Sri Lanka

This was the first extension of an international debt instrument to Sri Lanka after the government led by President Gotabaya Rajapaksa on April 12 temporarily...


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21 April 2022
IMF Urges India To Prioritise Food Security, Expand Transfers To Vulnerable

IMF Urges India To Prioritise Food Security, Expand Transfers To Vulnerable

Observing that inflation in India is somewhat elevated, he said that it is a little bit above the comfort zone for the Central Bank, which is already...


19 April 2022
Nirmala Sitharaman Urges To Regulate Cryptocurrencies At Global Level To Check Money Laundering, Terror Funding

Nirmala Sitharaman Urges To Regulate Cryptocurrencies At Global Level To Check Money Laundering, Terror Funding

The Finance Minister said that as long as the non-governmental activity of the crypto assets was through unhosted wallets, the regulation was going to be very...


19 April 2022
Sithraman Meets IMF Chief; Discusses Impact Of Geopolitical Situation On Global Growth

Sithraman Meets IMF Chief; Discusses Impact Of Geopolitical Situation On Global Growth

India is expected to record the highest growth rate among large economies of the world. As per the Economic Survey, the country may log 8-8.5 percent GDP...


17 April 2022
Sri Lankan Delegation Heads To US To Seek $4 Billion Bailout Package From IMF

Sri Lankan Delegation Heads To US To Seek $4 Billion Bailout Package From IMF

The delegation led by newly-appointed finance minister Ali Sabry will hold talks with the International Monetary Fund (IMF) between April 19 and April 24.


17 April 2022
Explained: What Happens When A Country Defaults On Its Debts

Explained: What Happens When A Country Defaults On Its Debts

Owing to an insufficient cash inflow, the country often fails to pay back to its creditors the principal amount as well as the interest amount of the loan....


12 April 2022
Crisis-Hit Sri Lanka Announces Debt Default

Crisis-Hit Sri Lanka Announces Debt Default

The debt servicing suspension will be in force for an interim period pending an orderly and consensual restructuring consistent with the proposed arrangement...


18 March 2022
Global Economic Fallout Of War In Ukraine Is Expected To Negatively Impact India: IMF

Global Economic Fallout Of War In Ukraine Is Expected To Negatively Impact India: IMF

Rice said that the negative impact of the war in Ukraine on the US, the EU, and Chinese economies could dampen external demand for India's exports, while...


11 March 2022
India Good At Managing Finances But Global Energy Price Rise Will Hurt It: IMF

India Good At Managing Finances But Global Energy Price Rise Will Hurt It: IMF

During the roundtable, Gita Gopinath, who is the First Deputy Managing Director of the IMF, observed that the Ukraine war has posed a challenge to economies...


05 March 2022
Pakistan To Complete Its FATF Action Plans Soon, Says Energy Minister After Global Watchdog Retains Country On Grey List

Pakistan To Complete Its FATF Action Plans Soon, Says Energy Minister After Global Watchdog Retains Country On Grey List

Pakistan has been on the grey list of the Paris-based Financial Action Task Force (FATF) since June 2018 for failing to check money laundering, leading to...


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