Page-2 of Economic Crisis

UK scraps tax cut for wealthy

October 4, 2022

In a policy reversal, the UK Prime Minister has scrapped the tax cut for the wealthy. This controversial tax cut had notably sparked market turmoil and caused the Pound to plunge to record low values. Key facts On September 23, ..

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Sri Lanka’s inflation spikes to 70.2%

September 23, 2022

Sri Lanka recorded 70.2 per cent inflation rate for August 2022. Key facts Sri Lanka’s inflation has increased to 70.2 per cent in August. In July, the country recorded 66.7 per cent. The National Consumer Price Index (NCPI) has increased ..

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Public Emergency in Sri Lanka

April 2, 2022

Sri Lanka’s president Gotabaya Rajapaksa has declared a state of emergency in the country which gives sweeping powers to the country’s security forces. This was declared after hundreds of citizens of the county tried to storm his house seething with ..

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IMF approves $650 billion for poor countries to tackle Covid

August 3, 2021

Member nations of the International Monetary Fund have approved the injection of $650 billion to help countries in dealing with mounting debt and economic fallout because of Covid-19 pandemic. Highlights These reserve assets, called as special drawing rights, have been ..

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Riots in Lebanon over economy

June 28, 2021

Lebanese troops were deployed in northern city of Tripoli on June 27, 2021 to take positions across major state institutions following a night of protests and riots against worsening living conditions in the country. Ground situation Riots have left several ..

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Moody’s: India’s growth projection at 9.6 per cent for 2021

June 23, 2021

Moody’s Investors Service has reduced India’s growth forecast to 9.6 per cent for 2021 from the earlier forecast of 13.9 per cent. According to it, growth will restrict to 7 % in 2022. Highlights Growth forecast was published in its ..

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NHRC advisories on Bonded Labourers & Migrant Workers

June 2, 2021

National Human Rights Commission (NHRC) has issued advisories on bonded labourers & migrant workers amid covid-19 cases. What are those advisories? Advisories were issued to ministries and states to look after adverse impact of covid-19 on labourers and migrant informal ..

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IMF warns for ‘Ricochet Impact’

May 26, 2021

According to International Monetary Fund (IMF), Emerging-market nations’ struggle to move out of covid-19 pandemic-induced economic crisis can hurt developed nations. It said, crisis has “Ricochet impact” on the developed and advanced economies. Highlights IMF suggests that, developed nations should ..

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