Sri Lanka is reeling under a severe economic crisis. Acute fuel & food shortage has gripped the island nation amid the worst economic crisis since its independence.

Sri Lanka mired in worst economic crisis since Independence

Sri Lanka has defaulted on its debt for the first time in its history as the country struggles with its worst financial crisis in more than 70 years. The governor of Sri Lanka's central bank said the country was now in a "pre-emptive default".

Sri Lanka defaults on its debt for the first time in history

Sri Lanka defaults on its debt for first time in history

Ghana is on the brink of an economic crisis. In 2021, the country recorded a total public debt of around 77% of its GDP, despite this Finance Minister said that Ghana was committed to managing its debt without taking assistance from the international Monetary Fund.

IMF not an option, Ghana FM confident to manage debt without help

Chinese power producers in Pakistan have threatened to shut down their power plants. The Pakistani government owes them well over $1 billion. Will Pakistan be pushed into another blackout? Palki Sharma tells you more.

Gravitas: Will Chinese power producers push Pakistan into a blackout?

The Brazil Government has projected that country's debt will reach over 80 percent of GDP in 2023, it will be rising to 80.3 percent in 2024 and remaining at that level in 2025

Brazil Government projects country's debt to rise to 80.3% of GDP in 2024

Sri Lankans shared milk rice and oil cakes to celebrate their traditional new year on Thursday opposite the president’s office, where they camped out for a sixth day demanding his resignation over the worst economic crisis.

Sri Lankan protesters mark new year near president's office amid economic crisis

Sri Lanka will default on its debt for the first time in its independent history. The opposition parties have now decided to push for the ouster of the Rajapaksas. What's their plan? Palki Sharma tells you.

Gravitas: Sri Lanka: Opposition's plan to oust Rajapaksas revealed

Sri Lanka announced on Tuesday that it would be defaulting on all of its external debt of $51 billion, after running out of foreign exchange for imports. Colombo called the move a "last resort."

Sri Lanka announces defaults on $51 bn external debt

Sharpening Moscow's stone in its financial wrestle with the West now Russia will take legal action if West tries to force it to default on its sovereign debt. Russia's finance minister said however he did not elaborate on Russia's legal options that are going to be available.

Russia threatens legal action if forced into sovereign debt default

Global government debt is set to now rise 9.5 this year to a record 71.6 trillion dollar. It has been driven so far by the US, Japan and Chinese governments across the world, they have ramped up borrowing owing to the covid-19 pandemic.

Global government debt set to soar to record $71.6 trillion this year

The US has frozen the foreign currency reserves of Russia. The US will now halt Russian debt payments. Russia still has 30 day grace period to make payments. Russian bondholders brace for the next hurdles.

US building financial pressure on Russia by stopping Russian debt payments

With Sri Lanka's economic situation getting worse, two of the country's major newspapers are suspending their print editions due to a lack of paper. The island is facing its worst economic meltdown since it gained its independence from Britain in 1948.

Two major Sri Lankan newspapers suspend print editions as economic crisis surges

6-time Grand Slam winner Boris Becker appeared in court over his refusal to settle an unpaid debt. Becker was earlier asked to auction off his Grand Slam trophies to raise money. Palki Sharma traces Becker's fall from grace.

Gravitas: Boris Becker on trial over unpaid debt

Iran has released 2 British nationals. This comes after London "settled a long-overdue debt" of over $500 million to Tehran. Did a 40-year-old claim hold back the release of two British detainees? Palki Sharma tells you more.

Gravitas: 40-year-old debt held back release of British detainees?

Argentina's Senate on Thursday gave final approval to an agreement with the International Monetary Fund that restructures a $45 billion debt, clearing the country's short-term financial horizon but leaving a serious inflationary challenge.

Argentina parliament approves IMF deal to restructure $45 billion debt

Russia needs to pay $117 million to its creditors this week. World Bank's Chief Economist said Moscow is "mightily close" to a default. Can a Russian default trigger a global recession? Palki Sharma brings you a report.

Gravitas: Russia could default on its debt within days

International rating agency Fitch has downgraded Russia’s sovereign rating, warning a default is "imminent". It has downgraded Russia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘C’ from ‘B’.

Fitch downgrades Russia’s sovereign rating, says default ‘imminent’

Kyrgyzstan has borrowed $1.8 billion from China's Export-Import Bank. There are concerns if Kyrgyzstan can pay back these loans. Is Kyrgyzstan caught in China's debt trap? Palki Sharma brings you an exclusive conversation with former Kyrgyz PM Djoomart Otorbaev.

Gravitas: Exclusive: Is Central Asia the new victim of China's debt trap?

Cash-strapped Sri Lanka sought to reschedule its huge Chinese debt burden in Sunday talks with visiting foreign minister Wang Yi, the president's office said. The island's tourism-dependent economy has been hammered by the pandemic and its depleted foreign exchange reserves have led to food rationing at supermarkets and shortages of essential goods.

Sri Lanka seeks Chinese debt reschedule amid economic crisis

China Evergrande Group has set up a risk management committee as the cash-strapped property developer inches closer to a debt restructuring that has loomed for months over global markets. The group shares were up by 7% in early trading.

China's Evergrande shares up over 7%, inching towards debt restructuring

Shares of China Evergrande Group tumbled 12% to an 11-year low on Monday after the firm said there was no guarantee it would have enough funds to meet debt repayments, prompting Chinese authorities to summon its chairman.

Embattled Chinese firm, Evergrande, braces for debt deadline

The Belt and Road initiative faces a new challenger. Is EU's "Global Gateway" a viable alternative to counter Chinese debt traps? Can democracies unite to dismantle Chinese colonies worldwide? Palki Sharma brings you an assessment.

Gravitas: Europe wants to neutralise Chinese debt traps

Kaisa and three of its units had their shares suspended from trading on Friday, a day after an affiliate missed a payment to onshore investors as China's snowballing property debt crisis jolts other developers.

World Business Watch: Kaisa, units trading suspended as debt crisis routs Chinese developers' shares

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