Beijing [China], June 10 (ANI): China’s local governments are finding it difficult to service debt raised via municipal and Local Government Financing Vehicles (LGFVs) bonds, as their fiscal position has become tight due to the slowing economic growth and fall in revenue receipts amid a downturn in the property market. According to S&P Global Ratings […]

By Y P Prakash The growth of regional industries is crucial for India to realize its ambitions of becoming a global manufacturing hub, and India’s potential in this regard is undeniable. The International Monetary Fund predicts that India’s GDP will grow by 6.1% in 2023, surpassing China’s projected growth of 4.4%. Furthermore, India is expected […]

creditors to discuss Sri Lanka’s ongoing debt crisis. Gunawardena said the country’s economy showed [...

Thursday 15th June, 2023 Sri Lanka Customs has reportedly informed the government that it will not be able to meet its revenue targets due to the existing ban on vehicle imports. It has suggested that a foreign credit line be opened for the import controls at issue to be eased. But the question is why […]

By Jehan Perera The arrest of parliamentarian and leader of the Tamil National People’s Front Gajendrakumar Ponnambalam highlights two areas of particular concern.  The first is the high level of surveillance that continues in the former war zones of the north and east.  The visitors to those parts of the country would not fail to […]

The federal budget for Fiscal Year 2023-24, presented by Pakistan Finance Minister Ishaq Dar on Friday, came as a huge disappointment for homemakers as it offered no respite from surging household expenses, The News International reported. Reeling under an economic crisis of the kind seldom experienced in the country’s history, women in Pakistan are finding […]

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By  Y P Prakash The current state of Sri Lanka evokes memories of India’s experience in the 1990s, although India was able to rectify the situation before it escalated to a critical level akin to a Bastille-like crisis. By 1991, India found itself on the brink of sovereign default. The Gulf War exacerbated the situation […]

A highly appreciative skill of the Pakistani administration is their extensive theatricals which can deceive the most intelligent of men. Lengthy speeches in the parliament are converted into minutes packed with wise counsel. After collecting enough praises and spewing venom on the opposition, they end up ultimately doing what they would do anyway — putting […]

Way back in 2017, a Nigerian delegate attending a UN Economic and Social Council (ECOSOC) conference on Africa had said, “Africa is bleeding” and warned that his continent’s system has been rigged against Africans and exploited by multinationals. The situation after the lapse of six years is no different. Irene Ovonji-Odida, Chairperson of the International […]

Y P Prakash Sri Lanka is currently grappling with a severe economic crisis, with its energy sector feeling the impact acutely. The country heavily relies on energy imports, and the soaring costs of oil and gas have strained the government’s finances. In a bid to address this crisis, Sri Lanka has sought assistance from China, […]

Asian Development Bank’s (ADB) Director General for South Asia Kenichi Yokoyama and newly appointed Country Director Takafumi Kadono held discussions with Prime Minister Dinesh Gunawardena on Thursday (June 8) at the Temple Trees in Colombo. The Prime Minister, while welcoming the new Director General thanked the outgoing DG, Chen Chen for the support extended to […]

By Saman Indrajith The government should grant relief to small and middle level entrepreneurs by issuing a circular suspending parate executions by the banks, Chief Opposition Whip and Kandy District MP Lakshman Kiriella told Parliament yesterday. “If the government is actually concerned about the SMEs affected by the pandemic and the economic crisis, then all […]

Sri Lanka and Thailand could sign a free trade agreement (FTA) by March, a top official of the Indian Ocean nation told Reuters on Wednesday, as it attempts to rebuild its crisis-stricken economy.