Latest Financial crisis News

Sri Lanka's central bank raises key rates to curb inflation

Jul. 07, 2022 07:15 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka’s Central Bank has raised its key interest rates to their highest levels in more than 20 years to try to contain inflation that has added to the country’s economic woes. Recent price hikes have been a severe blow, especially for the South...

Lebanon hopes to repatriate Syrian refugees within months

Jul. 06, 2022 11:46 AM EDT

BEIRUT (AP) — Lebanon plans to start sending back tens of thousands of Syrian refugees within months over objections by the United Nations and rights groups, a minister said in an interview Wednesday. Lebanon has one of the world's highest numbers of refugees per capita and...

Editorial Roundup: United States

Jul. 06, 2022 11:05 AM EDT

Excerpts from recent editorials in the United States and abroad: July 4 The Washington Post says that, after the abortion ruling, digital privacy is more important than ever In the 21st century, our phones might know we are pregnant before the people...

Sri Lankan president calls Russian leader seeking fuel

Jul. 06, 2022 07:38 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka's President Gotabaya Rajapaksa said Wednesday that he had a telephone call with Russian leader Vladimir Putin to request credit support to import fuel for the island nation that is facing its worst economic crisis in memory. “Had a very...

Sri Lanka's crisis rings alarm for other troubled economies

Jul. 06, 2022 00:23 AM EDT

BANGKOK (AP) — Sri Lanka is desperate for help with weathering its worst crisis in recent memory. Its schools are closed for lack of fuel to get kids and teachers to classrooms. Its effort to arrange a bailout from the International Monetary Fund has been hindered by the severity of its financial...

Argentina's economic change underlines president's weakening

Jul. 06, 2022 00:09 AM EDT

BUENOS AIRES, Argentina (AP) — The abrupt resignation of Argentina’s economy minister has engulfed the country in an all-too familiar anxiety that flows from its periodic financial crises in recent decades. The departure of moderate Martín Guzmán on Saturday also gave another...

Cricket is a welcome distraction for Sri Lankans in crisis

Jul. 05, 2022 23:27 PM EDT

GALLE, Sri Lanka (AP) — The sport of cricket has become a welcome distraction for Sri Lankans looking for a break from the effects of the economic crisis in the country — long lines to buy fuel and cooking gas and school and work disrupted because there is little access to public transport. ...

Bank of England: Crypto crashes show need for tougher rules

Jul. 05, 2022 10:55 AM EDT

LONDON (AP) — The Bank of England warned Tuesday that recent cryptocurrency meltdowns that wiped out more then $2 trillion in value highlight the need for tougher financial regulations The U.K.'s central bank said that the crashes exposed vulnerabilities in the crypto markets...

Argentina peso drops as left-leaning economy minister named

Jul. 04, 2022 17:57 PM EDT

BUENOS AIRES, Argentina (AP) — Argentina’s peso fell and stock prices dipped Monday after left-leaning Silvina Batakis was named economy minister following the surprise resignation of her more moderate predecessor over the weekend as the country struggles with economic woes. ...

Argentina has new economy minister after abrupt resignation

Jul. 03, 2022 22:43 PM EDT

BUENOS AIRES (AP) — Argentina got a new economy minister late Sunday, a day after the abrupt resignation of her predecessor shook the governing coalition at a time it was already facinga crisis of unity. Gabriela Cerruti, the presidency’s spokesperson, wrote on Twitter late...