The Business Times

economic crisis

International

Sri Lanka's top court says ex-president among those who contributed to economic crisis

Bangladesh’s US$416-billion economy has recently struggled to pay for imported fuel as its US dollar reserves have shrunk by more than a third due to costly imports following Russia’s invasion of Ukraine.
International

IMF, Bangladesh agree on first review of US$4.7 billion bailout

Sri Lanka owed China’s Exim US$4.1 billion, or 11 per cent of the country’s foreign currency debt, at the end of 2022, according to government data.
International

Sri Lanka, Exim Bank of China reach pact on debt disposal

“The Ukraine economy is showing remarkable resilience and recent economic developments point to a gradual economic recovery in 2023, although the outlook remains highly uncertain as exceptionally high war-related uncertainty persists,” the IMF says.
International

Ukraine, IMF reach agreement for US$900 million loan disbursement

The credit line, part of about US$4 billion in emergency assistance extended by India during the peak of Sri Lanka’s financial crisis early last year, was scheduled to end in March.
International

India extends US$1 billion credit line for Sri Lanka by a year

The government will present a comprehensive plan for treating foreign as well as local debt, PKG Harischandra, director of economic research at the central bank.
International

Sri Lanka pushes debt restructuring presentation to mid-May

FILE PHOTO: Police officers walk past the Supreme Court of Pakistan building, in Islamabad, Pakistan April 6, 2022. REUTERS/Akhtar Soomro/File Photo
International

Pakistan government and judiciary in new standoff amid economic turmoil

ADB’s immediate priority in 2023 is to continue work on overall economic stability and support the banking and energy sectors, the lender's Sri Lanka country director Chen Chen said.
International

Asian Development Bank mulling cheaper funds for Sri Lanka, support for green bonds

Economic mismanagement coupled with the impact of the Covid-19 pandemic left Sri Lanka severely short of US dollars for essential imports at the start of last year tipping the country into the worst financial crisis since Independence from the British in 1948.
International

Sri Lanka’s economy shrinks 7.8% in 2022

“So somewhere in April we will announce ... how we are going to meet those medium-to-long-term (debt) targets. That is the next step,” Sri Lanka central bank governor P Nandalal Weerasinghe said on Thursday.
International

Sri Lanka to announce debt restructuring strategy in April: central bank chief

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