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Pakistan’s Current Account Deficit Reaches $17.4bn

July 28, 2022 Vinayak Barot

New Delhi: The State Bank of Pakistan on Wednesday reported that the country recorded a current account deficit (CAD) of $17.406bn in FY22 compared to a gap of just $2.82bn in FY21. The massive CAD speaks a lot about the severe problem of the balance of payments. In November 2021, the SBP issued its Annual Report […]

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Sri Lanka: Emergency Declared After Violent Protests Over Economic Crisis

July 18, 2022 Vinayak Barot

New Delhi: In the middle of violent protests over the financial crisis in Sri Lanka, the island country’s acting president – Ranil Wickremesinghe has declared a state of emergency, said a government notice released late on Sunday. According to the official notice, It is expedient, so to do, in the interests of public security, the protection […]

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Need $5 Billion in the next six months for essentials: Sri Lanka PM

June 7, 2022 Vinayak Barot

New Delhi: In the middle of the financial crisis in the country, the Prime Minister of Sri Lanka assumed the amount to run the island nation for the next six months. Prime Minister of Sri Lanka – Ranil Wickremesinghe said that “the country will need $5 billion over the next six months to ensure basic living […]