Economic Crisis

IMF’s $3 Billion Bailout Programme for Sri Lanka

March 23, 2023

On March 20, the International Monetary Fund (IMF) cleared a $3 billion-Extended Fund Facility (EFF) for Sri Lanka, aimed at restoring macroeconomic stability, safeguarding financial stability, and unlocking the nation’s growth potential. Sri Lanka defaulted on its foreign debt in ..

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Pakistan receives $700 million from China

February 25, 2023

The foreign exchange reserves of Pakistan fell to 2.9 billion USD. It is now slowly rising to 4 billion USD. The cash injection was the need of the moment for Pakistan. And China stepped in offering 700 million USD to ..

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US Fed: Wall Street Bank Stress Test scenarios

February 10, 2023

The Federal Reserve of the United States is to create a hypothetical scenario of economic crisis. This is being done to check if the top-performing banks in the country shall survive the economic crisis. There are 23 big banks in ..

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IMF 4.7 billion USD support program for Bangladesh

January 31, 2023

The Bangladesh Government has been facing several macroeconomic issues. The country holds a huge current account deficit. The value of the Taka, the currency of Bangladesh has been declining. Foreign Exchange reserves of the country have been decreasing. To help ..

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India’s Unemployment Rate Reaches Highest Level in 16 Months

January 2, 2023

According to data from the Centre for Monitoring Indian Economy (CMIE), India’s unemployment rate reached 8.30% in December, the highest level in 16 months. This marks an increase from the 8.00% recorded in November. The urban unemployment rate also saw ..

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Sub-Saharan Africa’s Debt Burden at Record High

December 10, 2022

According to the International Debt Report 2022 by the World Bank, debt of low and middle-income countries in Sub-Saharan Africa (SSA) surged to a record high of 789 billion USD in 2021. What are the key findings of the report? ..

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2022 Nobel Prize for Economics

October 11, 2022

This year, the Nobel Prize for Economics was conferred to Ben Bernanke, Douglas Diamond and Philip Dybvig. Key facts The 2022 Nobel Prize for Economics recognized the works that have significantly improved the world’s understanding of the role of banks ..

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Poverty and Shared Prosperity Report 2022

October 8, 2022

The World Bank’s report titled “Poverty and Shared Prosperity 2022: Correcting Course” provides the first comprehensive assessment of the COVID-19 pandemic’s impact on poverty in developing countries. Key findings The report projected that the world is unlikely to end the ..

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