Latest Financial crisis News

Venezuelan girl drowns in Rio Grande amid migration to US

Jan. 21, 2022 13:52 PM EST

MEXICO CITY (AP) — Just days before Mexico began requiring visas for Venezuelan visitors in an attempt to slow their migration to the U.S. border, Mayerlin Mayor left her native Maracaibo with her 7-year-old daughter Victoria. The 36-year-old school teacher living with her parents...

Trying to stem the pandemic, Uganda creates a fuel crisis

Jan. 20, 2022 08:03 AM EST

KAMPALA, Uganda (AP) — A dispute over COVID-19 testing fees for truckers has created a fuel crisis in Uganda, highlighting an economic impact of the pandemic in a landlocked country with virtually no fuel reserves of its own. Mandatory COVID-19 testing at the country's border with...

Lebanon's poorest scavenge through trash to survive

Jan. 20, 2022 01:45 AM EST

BEIRUT (AP) — In the dark streets of a Beirut now often without electricity, sometimes the only light that shines is from headlamps worn by scavengers, searching through garbage for scrap to sell. Even trash has become a commodity fought over in Lebanon, mired in one of the world's...

Impoverished Lebanese, Syrians struggle to survive cold

Jan. 19, 2022 13:50 PM EST

BEIRUT (AP) — A snowstorm in the Middle East has left many Lebanese and Syrians scrambling to find ways to survive, burning old clothes, plastic and in some cases even sheep manure to keep warm as temperatures plummet and poverty soars. The storm, dubbed “Hiba” in Lebanon,...

Taliban economy conference in Kabul stresses need for funds

Jan. 19, 2022 12:00 PM EST

KABUL, Afghanistan (AP) — Five months into their rule of Afghanistan, the Taliban have increased revenue, cracked down on corruption and collected a surprising $1 billion in exports, the U.N. representative for the country said Wednesday. At the same time, Deborah Lyons, head of...

ILO report says Afghan crisis causing massive job losses

Jan. 19, 2022 00:33 AM EST

BANGKOK (AP) — More than a half million people in Afghanistan have lost their jobs since the Taliban takeover in mid-August, the International Labor Organization said in a report released Wednesday. The ILO said the crisis has paralyzed the economy and slammed the labor market. The...

Judge signs plan, resolves Puerto Rico bankruptcy battle

Jan. 18, 2022 20:43 PM EST

SAN JUAN, Puerto Rico (AP) — Puerto Rico’s nearly five-year bankruptcy battle is ending after a federal judge on Tuesday signed a plan that slashes the U.S. territory’s public debt load as part of a restructuring and allows the government to start repaying creditors. ...

Lebanese judge freezes assets of central bank governor

Jan. 18, 2022 15:25 PM EST

BEIRUT (AP) — An investigating judge in Beirut on Tuesday froze some assets belonging to the country's central bank governor, who is accused of corruption and dereliction of duties during Lebanon's unprecedented economic meltdown. Judge Ghada Aoun said she ordered the freeze “as...

Eurogroup seeks path between high inflation, slower growth

Jan. 17, 2022 15:01 PM EST

BRUSSELS (AP) — Euro finance chiefs on Monday ventured into a high-wire political balancing act prompted by conflicting economic forces: a weaker growth outlook and stronger inflation. Finance ministers from the 19 nations that share the euro currency pledged continued budgetary...

Lebanon faces internet service interruption amid fuel crisis

Jan. 16, 2022 07:50 AM EST

BEIRUT (AP) — Internet services were disrupted in Lebanon on Sunday because of diesel shortages, according to the state provider, adding another essential service to the list of casualties of the country’s snowballing economic crisis. Imad Kreidieh, the head of state internet...