Page 3 - Financial Crisis

Amid financial crisis, Pakistani rupee set to see worst month in 2 years

The Pakistani rupee has declined about 7% in May, the steepest drop since March 2020, as the country negotiates a bailout package with the IMF and other nations to keep its economy afloat

A nation in default: Is the great Sri Lanka fire sale about to begin?

PM Wickremesinghe wasted no time in announcing the government would privatize Sri Lankan Airlines, which prior to the pandemic had flown to 126 destinations in more than 60 countries

Sri Lanka PM proposes to make president, cabinet answerable to parliament

Sri Lanka has been rocked by protests due to an unprecedented financial crisis, which culminated in the resignation of former Prime Minister Mahinda Rajapaksa and his cabinet this month

Greece gets $3.9 billion from European pandemic recovery fund

The European recovery and resilience fund provides vital relief for Greece, which had barely emerged from a deep, decade-long financial crisis when the coronavirus pandemic hit

FPI outflows exceed 2008 global financial crisis as Fed policy move nears

Selling accelerated after Russia attacked Ukraine in February and caused a spike in global commodity prices

IMF urges Sri Lanka to focus on monetary policy to tackle inflation rise

IMF said Sri Lanka needs to tighten its monetary policy to contain rising inflation, put its high debt repayments on track and reverse one of the worst financial crises the country has faced in years

Sri Lanka's economy on the edge as debt burden mounts due to Covid

Sri Lanka has piled up $11.8 billion worth of debt through sovereign bonds (ISB) which makes up the largest part - or 36.4% - of its external debt

Should IMF do more than put out fires? The debate looms large

As the International Monetary Fund gets set for its annual meeting, economists ask if it's time to update its mandate as the world's financial crisis responder

China's 'Lehman moment'

Evergrande crisis can have global ramifications

Palestine faces financial crisis amid decline in foreign aid, tax dispute

Palestine is facing a financial crisis amid a decline in foreign aid and a growing tax dispute with Israel, according to an informed source

'Distress sale': Indians offload gold heirlooms as Covid deepens pain

With fewer banks around, people in rural areas rely on gold in times of need as it can be easily liquidated

Failure to raise debt limit would be 'catastrophic': US Treasury Secretary

Treasury Secretary Janet Yellen told a congressional panel that failing to raise the federal debt ceiling would have catastrophic consequences that could bring on a financial crisis

Hyatt Regency Mumbai shuts operations indefinitely due to lack of funds

Asset owner Asian Hotels facing financial crunch, defaults on loan repayment

RSS body calls for NREGA fund hike, free food grains to vulnerable sections

The Swadeshi Jagran Manch, an RSS-affiliate, suggested the government to substantially increase funds for its rural employment guarantee scheme and extend financial support to the vulnerable section

Govt must consider Air India's massive financial burden: CAPA India

The government must consider Air India's massive financial burden, which is likely to be a potential liability of $20 billion and look at possible changes to the contours of the proposed sale

Bajaj Allianz to offer up to Rs 1 cr support to Covid effected employees

Bajaj Allianz Life on Wednesday said it will offer financial support of up to Rs 1 crore to the family of its employees impacted by COVID-19.

Action is the best antidote to helplessness

The highest satisfaction has come from using my professional skills to help reconstruct the financial records of a family that lost its breadwinner

Pandemic Pool: Is this the best the insurance sector could come up with?

In case of a calamity, the govt may need to step in to help those at the lower rung of the economic ladder and it may not need the insurance sector as a middleman in those circumstances

China's banking watchdog warns Fed easing risks global financial crisis

The article comes on the heels of a similar warning from Guo in an interview with Xinhua

Prevent contagion, preserve value

It's time to dam the financial sector against a bad debt flood