By ignoring long-standing issues in the pursuit of growth, suddenly the country is back to the era of rolling power cuts, with the taka and the forex reserves under pressure.
August 11, 2022“Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka,” the global lender said in a statement.
July 30, 2022The bank promptly identified King as the source of the information, put him on administrative leave for two years, before firing him on Christmas Eve in 2010.
July 24, 2022Surging world food prices, which reached their highest levels on record this year, are contributing to the rapid rise in LIC inflation.
July 11, 2022The energy and food crises have affected many countries across the world, especially developing countries, which depend heavily on food and energy imports.
June 29, 2022Globally, food prices, already on the rise since the second half of 2020, have reached a record high this year, leading to food security problems worldwide.
June 23, 2022The passing show, so to speak, of Russia’s war in Ukraine, is likely to have a crippling effect on recession in both large and small economies.
June 13, 2022The World Bank will disburse nearly $700 million to Sri Lanka within the next few months, Sri Lanka's Foreign Minister announced.
May 31, 2022A new $10 million grant will help Lebanon mitigate the environmental and health impacts of the Beirut port explosions on the neighbouring population and support Beirut's reconstruction, the UN said in a statement.
May 19, 2022The World Bank has announced actions it plans to take as part of a comprehensive, global response to the ongoing food security crisis, with up to $30 billion in financing in existing and new projects.
May 19, 2022The World Bank has approved a USD 47 million projects to support the Government of India's Mission Karmayogi, a national program to build civil service capacity, the bank said in a statement.
April 28, 2022Price increases for food commodities, of which Russia and Ukraine are large producers, and fertilisers, which rely on natural gas as a production input, have been the largest since 2008, the report noted.
April 27, 2022On the impact of war on India's energy needs, Sitharaman said the portion of crude coming from Russia is not more than 3-4 percent.
April 23, 2022The Finance Minister also suggested that multilateralism has become more critical as the world is undergoing a phase of exceptional uncertainty.
April 23, 2022The DC-based lender's economic update for emerging markets in Europe and Central Asia said the conflict would hamper the region's industrial output, shaving 4.1 percent off its GDP.
April 11, 2022Sri Lanka's health sector is currently facing a shortage of essential drugs due to import restrictions in place following a foreign exchange shortage.
March 31, 2022The World Bank is calling for further grant contributions to the MDTF. In addition, Japan is linking USD 100 million in parallel financing to the support package.
March 8, 2022