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COLOMBO (Reuters) -Sri Lanka is asking international bond holders to take a 30% haircut and is seeking similar concessions from investors in its domestic dollar-denominated notes as it seeks to ...
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The Sri Lankan economic crisis [8] is a in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Executive directors praised Sri Lanka's COVID-19 policy response and vaccination drive, but argued that Sri Lanka's public debt was unsustainable. The executive directors recommended an increase in the income tax rate and value added tax, among other fiscal policy reforms, and cost-recovery energy pricing.
Sri Lanka has seen external instability from around late 2014 suffering two currency crises and low growth with the rupee falling from 131 to 182 to the US dollar by 2018. [6] Foreign debt rose from 30% of gross domestic product in 2014 to 41.3% in 2019 while total debt went up from 76% to 86% as growth slowed amid [ 7 ] Sovereign bond ...
(Bloomberg) -- Sri Lanka’s opposition parties are trying to cobble together an all-party government and pick candidates who can take over after President Gotabaya Rajapaksa and Prime Minister ...
News Central TV is a Nigerian independent 24-hour news and media television channel based in Lagos, Nigeria. The parent company, News Central Media, was founded in 2017 by Anthony Dara. It began broadcasting in August 2018. Its primary focus is producing news and current affairs programs on Nigerian and global issues.
Since independence, with Jaja Wachuku as the first Minister for Foreign Affairs and Commonwealth Relations, later called External Affairs, Nigerian foreign policy has been characterised by a focus on Africa as a regional power and by attachment to several fundamental principles: African unity and independence; capability to exercise hegemonic influence in the region: peaceful settlement of ...