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economic-crisis

Long queues for petrol stations as fuel crisis hits Laos
Asia & Pacific 3 years ago

Long queues for petrol stations as fuel crisis hits Laos

Some parts of the reclusive communist nation have been suffering shortages for weeks, according to state media, but on Monday pumps in the capital began to run dry.
Life 'very hard' for Sri Lanka fishermen in financial squall
Asia & Pacific 3 years ago

Life 'very hard' for Sri Lanka fishermen in financial squall

The math does not look good for Fernando and his crew of four among the dozen gently bobbing trawlers. Each takes home 40,000 Sri Lankan rupees ($130) from their grueling expedition.
Sri Lanka fuel prices up ahead of IMF talks
Asia & Pacific 3 years ago

Sri Lanka fuel prices up ahead of IMF talks

Sri Lanka is in the grip of its worst economic crisis since independence from Britain in 1948. It has led to shortages of fuel, food, and essential medicines.
Sri Lanka's reluctance to tap IMF helped push it into an economic abyss
Economy 3 years ago

Sri Lanka's reluctance to tap IMF helped push it into an economic abyss

President Gotabaya Rajapaksa's government has come under growing pressure for its mishandling of the economy, and the country has suspended foreign debt payments in an effort to preserve its paltry foreign exchange reserves.
Embattled Sri Lanka PM appeals for 'patience' from protesters
Asia & Pacific 3 years ago

Embattled Sri Lanka PM appeals for 'patience' from protesters

Sri Lanka's 22 million residents have seen weeks of power blackouts and severe shortages of food, fuel, and even life-saving medicine in the country's worst downturn since independence in 1948.
Bankrupt Sri Lanka asks citizens abroad to send home cash
Asia & Pacific 3 years ago

Bankrupt Sri Lanka asks citizens abroad to send home cash

The island nation is in the grip of its worst economic crisis since independence in 1948, with severe shortages of essential goods and regular blackouts causing widespread hardship. 
Crisis-hit Sri Lanka hikes benchmark rate by record 7 percent
Economy 3 years ago

Crisis-hit Sri Lanka hikes benchmark rate by record 7 percent

Sri Lanka's central bank hiked interest rates by a record 700 basis points to 14.5 percent.
Australian prime minister calls May 21 election
Asia & Pacific 3 years ago

Australian prime minister calls May 21 election

Morrison's conservative government is struggling to woo Australia's 17 million voters, lagging behind the opposition Labor party in a string of opinion polls despite presiding over a rebounding economy with a 13-year-low jobless rate of four percent.
Sri Lanka opposition says it will move no-confidence motion if crisis unaddressed
Asia & Pacific 3 years ago

Sri Lanka opposition says it will move no-confidence motion if crisis unaddressed

Sajith Premadasa, chief of the Samagi Jana Balawegaya party, made the threat in parliament.
Sri Lanka asks experts to plan debt restructure as protests rage
Asia & Pacific 3 years ago

Sri Lanka asks experts to plan debt restructure as protests rage

Shortages of food and fuel, along with record inflation and regular blackouts, have inflicted unprecedented misery on Sri Lankans in the most painful downturn since independence from Britain in 1948.
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