Category: World
Haircut in Chinese context politically very difficult but discussions continue: Kristalina Georgieva
International Monetary Fund Managing Director Kristalina Georgieva says that a haircut in the Chinese context is politically very difficult even though there might be a way to reach the same objective by stretching maturities, reducing or eliminating interest rates, and payments. At a recent media roundtable, Georgieva said that they have engaged with the Chinese […]
Sharp, Long-lasting Slowdown to Hit Developing Countries Hard: World Bank
Global growth is slowing sharply in the face of elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine, according to the World Bank’s latest Global Economic Prospects report. Given fragile economic conditions, any new adverse development—such as higher-than-expected inflation, abrupt rises in interest rates to contain it, a resurgence […]
New UNDP Resident Representative takes office
Azusa Kubota presented her credentials on 9 January 2023 to the Ali Sabry, Minister of Foreign Affairs, officially taking office as the new Resident Representative for the United Nations Development Programme (UNDP) in Sri Lanka. Prior to her appointment in Sri Lanka, Ms. Kubota served as the Resident Representative at UNDP in Bhutan for 4 […]
Fitch 2023 Outlook: Most Sovereign Sector Outlooks Deteriorating, Global Rating Prospects More Balanced
Fitch Ratings’ ‘deteriorating’ 2023 sector outlook for global sovereigns reflects weaker global economic growth, rising funding costs and pressures from high inflation. The overall balance of sovereign rating outlooks is near to its long-term average, but further monetary policy tightening and elevated geopolitical tensions represent key challenges this year. Five of eight sovereign regions have […]
World Growth Forecasts Cut Again as Inflation Fight Intensifies
World GDP forecasts for 2023 have been revised down again as central banks intensify their fight against inflation and the outlook for China’s property market deteriorates, says Fitch Ratings in its latest Global Economic Outlook (GEO) report published today. Fitch now expects world GDP to grow by 1.4% in 2023, revised down from 1.7% in […]
The world population reaches 8 billion people
Our world is approaching a landmark moment in human history. On 15 November 2022, the global population is projected to reach 8 billion people. Thanks to science, technology, and groundbreaking innovations, we now live longer and healthier. It took the human family 125 years to get from 1 billion to 2 billion. But only 12 […]
Korea and Sri Lanka marks 45th Anniversary of diplomatic relations
By Korean Ambassador Santhush Woonjin JEONG Ayubowan, Vanakkam, Annyonghasimnikka (Korean greeting) I am the Ambassador of the Republic of Korea to Sri Lanka, Santhush Woonjin Jeong. November 14th marks the 45th anniversary of the establishment of the diplomatic ties between Korea and Sri Lanka. I would like to celebrate the meaningful day together with Sri […]
New GBP 3m UK Humanitarian support for Sri Lanka
Today, the UK announced a £3 million humanitarian package for Sri Lanka, providing vital support to the most in need. British High Commissioner Sarah Hulton said that “This new package will provide multipurpose cash, livelihoods and other support to those most in need across the country including: pregnant and nursing mothers, children, low-income fisherman and […]
Senior Japanese Parliamentarian on a fact-finding mission to help Sri Lanka
Senior Japanese Parliamentarian Matsushita Shinpei of Liberal Democratic party met Prime Minister Dinesh Gunawardena today (20) at the Prime Minister’s Office to discuss cooperation between the two countries and areas of possible future cooperation. Matsushita Shinpei said the main propose of his current visit is to see for himself how Sri Lanka is coping with […]
Fitch Ratings Slashes Global GDP Forecasts on Supply Shocks, Faster Rate Rises
The European gas crisis, high inflation and a sharp acceleration in the pace of global monetary policy tightening are taking a heavy toll on economic prospects. Fitch Ratings’ September 2022 Global Economic Outlook (GEO) includes deep and wide cuts to global GDP forecasts. Fitch now expects world GDP to grow by 2.4% in 2022 – […]
Korean Envoy encourages more investment & trade between Korea and Sri Lanka
On 7th September 2022, an Interactive Session on business opportunities and experience sharing between Sri Lanka and Korea was organised by the Sri Lanka-Korea Business Council at the Ceylon Chamber of Commerce. This special event was held with the participation of the Korean Ambassador Santhush Woonjin JEONG as Chief Guest, Priyantha Mendis President of the […]
Global Food Price Inflation Likely to Fall Sharply in 2023: Fitch Ratings
World grain prices have fallen sharply in recent weeks, raising the prospect of a sharp drop in annual CPI food inflation next year, says Fitch Ratings in its latest Economics Dashboard. Grain prices surged at the start of the Ukraine war on supply concerns but there is renewed optimism that other countries will step up […]