World Bank

Russian invasion's multi-dimensional impact, and India's meek acceptance of the damage done to its economy

He has held talks with foreign envoys, including from India, China and the US, and discussed with representatives from ADB and World Bank ways to replenish food, fertilizer and medicine supplies

The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation's economy sets up an adequate macroeconomic policy framework

A 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

The 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 financing in existing and new projects.

Food prices will remain elevated in the near term

Sri Lanka has received $160 Million from the World Bank and is looking at the possibility of using some of it to buy fuel, PM Ranil Wickremesinghe told Parliament on Wednesday

The current debt wave is the world's fourth since 1970, the World Bank says

Sri Lanka's Prime Minister Ranil Wickremesinghe held discussions with representatives of the World Bank and the Asian Development Bank on the current economic crisis in the country,

The developments come even as nationwide protests against the government have intensified over the past few days resulting in an increase in clashes with the security forces deployed at protest sites

The long-term safety of a dam depends on the extent of degradation of its materials, weakening of the foundations and seismological threats

Sri Lanka stocks rallied, marking their first day of gains since April 5

The price shock is aggravated by restrictions in the food, fuel, and fertiliser trade, it said

Earlier this month, Sri Lanka kicked off talks with the International Monetary Fund (IMF) for financial assistance

Global food and fuel price shocks linked to the Russia-Ukraine war are set to last until at least the end of 2024 and raise the risk of of stagflation, the World Bank said

Sri Lanka is currently in the throes of an unprecedented economic turmoil since its independence from Britain in 1948

'The propaganda that the Prime Minister is being treated in a private hospital for an illness is completely false,' the Prime Minister's Media Division (PMMD) said

This comes as India's southern neighbour deals with its worst-ever economic crisis.

"All creditors must be treated equally and with transparency," Sitharaman said in an interview in Washington Friday. "I've emphasized that point in general and in the context of Sri Lanka."

The country of 22 million people is struggling to pay for imports after a sharp drop in foreign exchange reserves which has led to a currency devaluation and soaring inflation