In a letter notifying Congress of the move, Janet Yellen did not alter a projected deadline of hitting debt cap by June.
As 182 economists from around the world issued a call to cancel Sri Lanka’s debt, not all experts agree.
Sam Bankman-Fried responds to a series of tweets from the chairwoman of the US House Financial Services Committee.
Sam Bankman-Fried’s empire sank from a value of $32bn all the way to bankruptcy.
If India buying oil from Russia, ‘we also have a right’, minister says as Pakistan aims to preserve its shrinking forex.
Concerns are rising about Pakistan’s ability to pay for imports such as energy and food, and meet sovereign debt needs.
Essential Middle East explores the crisis that has resulted in the rise of bank heists in Lebanon.
While the $2.9bn agreement will provide some relief, its disbursement is still many months away.
The second such IMF visit is on Wednesday as Sri Lanka scrambles to lock in $3bn to pave its way out of the crisis.
The country’s debt burden is considered ‘unsustainable’ leading the lender to seek assurances from creditors.
Policy makers are assessing effects of interest hikes this year on cooling price growth, amid an unprecedented crisis.
The move comes as inflation hit a record 54.6 percent and food inflation galloped to 80.1 percent.
The IMF has said Sri Lanka needs to whittle down existing debt to ‘sustainable’ levels before it can receive any aid.
Gov’t decided on Monday to limit fuel to essential services until July 10 and told residents to stay home.
