According to reports, Pakistan is said to be facing an economic collapse, similar to what has happened with Sri Lanka. The country's rupee has fallen more sharply than expected.

Pakistan's rupee falling faster than expected, more pain ahead

As Sri Lanka battles its worst economic crisis in 70 years, the joblessness rate climbed, stoking massive social and political concerns. The latest official data showed the island nation's unemployment rate rose to 5 percent by the end of September last year, during which the economy contracted by 12 percent.

World Business Watch: Sri Lanka's unemployment rate climbs, raises concern for policymakers

Prime Minister Narendra Modi's old video of a speech is being circulated in Pakistan, across the border. Leaders of Pakistan Tehreek-e-Insaaf, which is led by Imran Khan, have been sharing a video in which the prime minister is seeing criticising the government of Pakistan over its financial crisis.&nbsp;

In the video, PM Modi is seen speaking during the campaign of the 2019 general elections in Rajasthan's Barmer district. "We destroyed Pakistan's arrogance, forced them to go around the globe with a begging bowl," said PM Modi.&nbsp;

Referring to the threats of the nuclear attack made by Pakistan, he says, "We have stopped fearing Pakistan's threats. If they have nuclear weapons, ours are hardly kept for Diwali."

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رجیم چینج کے سہولت کارو۔ 
سنو انڈیا کا مودی پاکستان کے بارے میں کیا کہہ رہا ہے؟ اگر غیرت نام کی کوئ چیز تم میں نہیں تو شرم تو کرو؟ پاکستان کے لوگو: اس لئے اپنے اس ملک کو بچانے کا واحد راستہ عمران خان کے سنگ حقیقی آزادی ہے. <a href="https://t.co/yvRIsoTKPf">pic.twitter.com/yvRIsoTKPf</a>
— Senator Azam Khan Swati (@AzamKhanSwatiPk) <a href="https://twitter.com/AzamKhanSwatiPk/status/1613166492434206724?ref_src=twsrc%5Etfw">January 11, 2023</a></blockquote>
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In the wake of ongoing economic crisis in Pakistan, the supporters of PTI started sharing the video to launch an attack on the current government led by Prime Minister Shehbaz Sharif, without even realising that comments were made by PM Modi when Imran Khan himself was in power. Khan was ousted last year after a no-trust vote motion.&nbsp;

ALSO READ|&nbsp;<a href="https://www.wionews.com/south-asia/pakistan-terrorists-equipped-with-night-vision-thermal-scope-guns-outflank-police-552942">Pakistan: Terrorists equipped with night vision thermal scope guns outflank police</a>

The video has been posted by former Pakistan minister Azam Khan Swati and Imran Khan-led party's senior leader. In his tweet along with the video, he stated that the government of Pakistan should be ashamed and appealed for a regime change. A lot of people also criticised the Pakistani Army, in the comments section, saying that they have led the country down.&nbsp;

Journalist Naila Inayat was among the people who pointed out the irony of the clip shared by the PTI supporters.&nbsp;

"The funniest part, PTI sharing this to tell current govt, look what Modi is saying about you. While the clip is from April 2019 when Imran Khan was in government," Inayat tweeted.

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"I compelled Pakistan to go around the globe with a begging bowl." 
 
The funniest part, PTI sharing this to tell current govt, look what Modi is saying about you. While the clip is from April 2019 when Imran Khan was in govt. <a href="https://t.co/dgbHqMorrl">pic.twitter.com/dgbHqMorrl</a>
— Naila Inayat (@nailainayat) <a href="https://twitter.com/nailainayat/status/1614696319624380417?ref_src=twsrc%5Etfw">January 15, 2023</a></blockquote>
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PTI leader Imran Khan had earlier appreciated Prime Minister Modi while slamming former Pakistan prime minister Nawaz Sharif for corruption. "No other leader except Nawaz in the world has properties worth billions. Tell me about one country whose Premier or leader has a billions worth of properties outside the country. Even in our neighbouring country, how many properties does PM Modi has outside India?" Khan had said in September.

WATCH| WION Fineprint | Pakistan: Federal government blames provinces for food shortage

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Pakistan has been facing a massive economic crisis as foreign exchange reserves have been depleting fast, and the government is in talks with the International Monetary Fund for monetary aid.&nbsp;

(With inputs from agencies)

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Prime Minister Narendra Modi's old video of a speech is being circulated in Pakistan, across the border. Leaders of Pakistan Tehreek-e-Insaaf, which is led by Imran Khan, have been sharing a video in which the prime minister is seeing criticising the government of Pakistan over its financial crisis.

Prime Minister Narendra Modi's old video of a speech is being circulated in Pakistan, across the border. Leaders of Pakistan Tehreek-e-Insaaf, which is led by Imran Khan, have been sharing a video in which the prime minister is seeing criticising the government of Pakistan over its financial crisis. In the video, PM Modi is seen speaking during the campaign of the 2019 general elections in Rajasthan's Barmer district. "We destroyed Pakistan's arrogance, forced them to go around the globe with a begging bowl," said PM Modi. Referring to the threats of the nuclear attack made by Pakistan, he says, "We have stopped fearing Pakistan's threats. If they have nuclear weapons, ours are hardly kept for Diwali." رجیم چینج کے سہولت کارو۔ سنو انڈیا کا مودی پاکستان کے بارے میں کیا کہہ رہا ہے؟ اگر غیرت نام کی کوئ چیز تم میں نہیں تو شرم تو کرو؟ پاکستان کے لوگو: اس لئے اپنے اس ملک کو بچانے کا واحد راستہ عمران خان کے سنگ حقیقی آزادی ہے. pic.twitter.com/yvRIsoTKPf — Senator Azam Khan Swati (@AzamKhanSwatiPk) January 11, 2023 × In the wake of ongoing economic crisis in Pakistan, the supporters of PTI started sharing the video to launch an attack on the current government led by Prime Minister Shehbaz Sharif, without even realising that comments were made by PM Modi when Imran Khan himself was in power. Khan was ousted last year after a no-trust vote motion. ALSO READ| Pakistan: Terrorists equipped with night vision thermal scope guns outflank police The video has been posted by former Pakistan minister Azam Khan Swati and Imran Khan-led party's senior leader. In his tweet along with the video, he stated that the government of Pakistan should be ashamed and appealed for a regime change. A lot of people also criticised the Pakistani Army, in the comments section, saying that they have led the country down. Journalist Naila Inayat was among the people who pointed out the irony of the clip shared by the PTI supporters. "The funniest part, PTI sharing this to tell current govt, look what Modi is saying about you. While the clip is from April 2019 when Imran Khan was in government," Inayat tweeted. "I compelled Pakistan to go around the globe with a begging bowl." The funniest part, PTI sharing this to tell current govt, look what Modi is saying about you. While the clip is from April 2019 when Imran Khan was in govt. pic.twitter.com/dgbHqMorrl — Naila Inayat (@nailainayat) January 15, 2023 × PTI leader Imran Khan had earlier appreciated Prime Minister Modi while slamming former Pakistan prime minister Nawaz Sharif for corruption. "No other leader except Nawaz in the world has properties worth billions. Tell me about one country whose Premier or leader has a billions worth of properties outside the country. Even in our neighbouring country, how many properties does PM Modi has outside India?" Khan had said in September. WATCH| WION Fineprint | Pakistan: Federal government blames provinces for food shortage Pakistan has been facing a massive economic crisis as foreign exchange reserves have been depleting fast, and the government is in talks with the International Monetary Fund for monetary aid. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

WATCH| Imran Khan's party uses PM Modi's old clip to target Pak govt, funny part is....

Pakistan's unprecedented crisis of food, stemming from years of economic mismanagement amid country's support for cross-border terrorism, was debated in Islamabad's senate on Friday. Country's opposition leaders targeted Prime Minister Shehbaz Sharif-led coalition and held the federal government responsible for the country's ongoing shortage of wheat.

Opposition blames Pakistan government for shortage in the country

Sri Lanka, which has been battling a severe economic crisis, is set to reduce its military by half, said the defence ministry on Friday as the government continues to take steps to overhaul its financial situation.&nbsp;For months, the nation has been facing fuel and food shortages that have made 22 million people’s life miserable from last year. &nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/growth-can-return-says-sri-lankan-fm-as-govt-aims-to-raise-8-billion-in-loans-expected-543181">‘Growth can return’, says Sri Lankan FM, as govt aims to raise $8 billion in loans</a>

Taxes have been increased and tough spending cuts have been imposed by President Ranil Wickremesinghe to clear the way for an anticipated bailout by International Monetary Fund following a government debt default.

The armed forces of Sri Lanka are next to face a drastic cut, as the defence ministry declared that 65,000 soldiers would retire from its 200,000-strong army in a year as part of its plan to downsize the land force of the country to 100,000 by the end of the decade.

"The overall aim of the strategic blueprint is to broach a technically and tactically sound and well-balanced defence force," said a ministry in a statement.

The armed forces of Sri Lanka remain bloated more than a decade after the traumatic civil war of the country. Last year, defence accounted for almost 10 per cent of public spending and expert analysts say that half of the salary bill of the government is used in paying for security force personnel.&nbsp; &nbsp;

WATCH |&nbsp;Gravitas Plus | Explained: Sri Lankan economic crisis

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This week, Sri Lanka issued a warning that it did not have enough revenue to clear the pensions and salaries of public employees even after a drastic increase in the tax in 2023.&nbsp; &nbsp;

Last year, the economy declined by 8.7 per cent as people faced blackouts, empty shelves of the supermarket, long queues for petrol, and runaway inflation.

(With inputs from agencies) 
&nbsp;

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Sri Lanka, which has been battling a severe economic crisis, is set to reduce its military by half, said the defence ministry on Friday as the government continues to take steps to overhaul its financial situation.

Sri Lanka, which has been battling a severe economic crisis, is set to reduce its military by half, said the defence ministry on Friday as the government continues to take steps to overhaul its financial situation. For months, the nation has been facing fuel and food shortages that have made 22 million people’s life miserable from last year. ALSO READ | ‘Growth can return’, says Sri Lankan FM, as govt aims to raise $8 billion in loans Taxes have been increased and tough spending cuts have been imposed by President Ranil Wickremesinghe to clear the way for an anticipated bailout by International Monetary Fund following a government debt default. The armed forces of Sri Lanka are next to face a drastic cut, as the defence ministry declared that 65,000 soldiers would retire from its 200,000-strong army in a year as part of its plan to downsize the land force of the country to 100,000 by the end of the decade. "The overall aim of the strategic blueprint is to broach a technically and tactically sound and well-balanced defence force," said a ministry in a statement. The armed forces of Sri Lanka remain bloated more than a decade after the traumatic civil war of the country. Last year, defence accounted for almost 10 per cent of public spending and expert analysts say that half of the salary bill of the government is used in paying for security force personnel. WATCH | Gravitas Plus | Explained: Sri Lankan economic crisis This week, Sri Lanka issued a warning that it did not have enough revenue to clear the pensions and salaries of public employees even after a drastic increase in the tax in 2023. Last year, the economy declined by 8.7 per cent as people faced blackouts, empty shelves of the supermarket, long queues for petrol, and runaway inflation. (With inputs from agencies)

Bankrupt Sri Lanka to drastically slash military by half amid looming economic crisis

Pakistan’s foreign exchange reserves fell below $5 billion, threatening to spill over into a full-blown economic crisis. Watch this video to know more.

Pakistan's forex reserves dip below $5 billion; No money left for imports

Weekly inflation in Pakistan increased by over 30 percent in comparison to last year amid a rise in the prices of food and a couple of fuel items.

Double digit inflation cripples Pakistan economy

Pakistan's Prime Minister Shehbaz Sharif has arrived in the United Arab Emirates. With this visit, he is seeking to bolden economic relations with the Emirates nation. Watch to know more.

Pakistan PM Shehbaz Sharif arrives in UAE on two-day visit

According to the reports, Pakistan's weekly inflation witnesses 30 percent rise compared to last year amid a rise in the prices of food and a couple of fuel items. Now, the question is will 2023 bring some relief for Pakistan?

Is Pakistan's economic crisis getting worse?

Pakistan is running out of money, food, fuel, and it is heading the Sri Lanka way. Onion prices have reportedly gone up over 500%, wheat flour has become unaffordable. Pakistan wants its people to brace for blackouts. Priyanka Sharma tells you more.

Gravitas: Pakistan is running out of money, food, fuel

The Balochistan government has sent a SOS but no wheat consignment has reached the Pakistani province so far to solve the shortage. Watch to know more.

WION Climate Tracker: Pakistan's Balochintan runs out of wheat

While attending a conference in Geneva commencing Monday, a delegation from the International Monetary Fund (IMF) will meet with Pakistan's finance minister Ishaq Dar as that country battles to restart its bailout programme.

Cash-strapped Pakistan is in dire need of aid and only has enough foreign exchange reserves to cover one month's worth of imports as IMF didn’t authorise the release of $1.1 billion that was originally scheduled to be paid out in November of last year, Al Jazeera reported.

“The IMF delegation is expected to meet with finance minister Dar on the sidelines of the Geneva conference to discuss outstanding issues and the path forward,” an IMF spokesperson told Reuters on Sunday.

According to IMF spokesperson, the institution’s Managing Director Kristalina Georgieva had a “constructive call” with Pakistan Prime Minister Shahbaz Sharif on Friday. “The MD again expressed her sympathy to those directly affected by the floods and supported Pakistan’s efforts to build a more resilient recovery,” the spokesperson told Dawn.

Also Read |&nbsp;<a href="http://www.wionnews.com/south-asia/pak-pm-shehbaz-sharif-holds-talks-with-imf-chief-amid-economic-crisis-550170" hreflang="en">Pak PM Shehbaz Sharif holds talks with IMF chief amid economic crisis</a>

The goal of the International Conference on Climate Resilient Pakistan in Geneva, which is being co-hosted by Sharif and UN Secretary-General Antonio Guterres, is to rally support for the nation in the wake of last year's disastrous floods on a global scale.

In recent months, Dar has criticised the IMF, openly stating that the institution was behaving "abnormally" in its interactions with Pakistan, which, in 2019, entered the $7 billion bailout programme.

Watch | Pakistan floods: 33 million people affected

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IMF declined to grant the next installment of the already-agreed credit since Pakistan was not keeping its end of the bargain when the halted loan of $6 billion was reinstated last year.

More than six months of flooding, driven by global warming, has left some districts of Pakistan devastated and the fundamental necessities of the locals are still unmet. At least 1,700 people were killed by the floods, and vital infrastructure suffered billion-dollar losses, as per Al Jazeera.

According to a UN report published in December, 8 million people were "possibly exposed to floodwaters or living close to flooded areas," while 240,000 people in Sindh, a province in southern Pakistan, remain homeless. 
&nbsp;

(With inputs from agencies)

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While attending a conference in Geneva commencing Monday, a delegation from the International Monetary Fund (IMF) will meet with Pakistan's finance minister Ishaq Dar as that country battles to restart its bailout programme.

While attending a conference in Geneva commencing Monday, a delegation from the International Monetary Fund (IMF) will meet with Pakistan's finance minister Ishaq Dar as that country battles to restart its bailout programme. Cash-strapped Pakistan is in dire need of aid and only has enough foreign exchange reserves to cover one month's worth of imports as IMF didn’t authorise the release of $1.1 billion that was originally scheduled to be paid out in November of last year, Al Jazeera reported. “The IMF delegation is expected to meet with finance minister Dar on the sidelines of the Geneva conference to discuss outstanding issues and the path forward,” an IMF spokesperson told Reuters on Sunday. According to IMF spokesperson, the institution’s Managing Director Kristalina Georgieva had a “constructive call” with Pakistan Prime Minister Shahbaz Sharif on Friday. “The MD again expressed her sympathy to those directly affected by the floods and supported Pakistan’s efforts to build a more resilient recovery,” the spokesperson told Dawn. Also Read | Pak PM Shehbaz Sharif holds talks with IMF chief amid economic crisis The goal of the International Conference on Climate Resilient Pakistan in Geneva, which is being co-hosted by Sharif and UN Secretary-General Antonio Guterres, is to rally support for the nation in the wake of last year's disastrous floods on a global scale. In recent months, Dar has criticised the IMF, openly stating that the institution was behaving "abnormally" in its interactions with Pakistan, which, in 2019, entered the $7 billion bailout programme. Watch | Pakistan floods: 33 million people affected IMF declined to grant the next installment of the already-agreed credit since Pakistan was not keeping its end of the bargain when the halted loan of $6 billion was reinstated last year. More than six months of flooding, driven by global warming, has left some districts of Pakistan devastated and the fundamental necessities of the locals are still unmet. At least 1,700 people were killed by the floods, and vital infrastructure suffered billion-dollar losses, as per Al Jazeera. According to a UN report published in December, 8 million people were "possibly exposed to floodwaters or living close to flooded areas," while 240,000 people in Sindh, a province in southern Pakistan, remain homeless. (With inputs from agencies) WATCH WION LIVE HERE:

Pakistan to press IMF for release of bailout funds amid worsening economic crisis, floods

Many in Afghanistan are unable to afford sufficient heating, and they often face a tough choice between 'food and fuel'. As the economic crisis grips the country, doctors and aid workers say that thousands of children are admitted to hospitals with pneumonia and various other respiratory diseases.

Afghanistan faces a humanitarian crisis, malnutrition and cold take a toll on children

Pakistani authorities on Wednesday ordered shopping malls and markets to close by 8.30 pm as part of a new energy conservation plan aimed at easing country's economic crisis.

Pakistan orders malls, markets to close early amid economic crisis

Pakistani traders have rejected government’s decision to shut malls and markets by 8:30 pm. This decision came after a new energy conservation plan and called for the revocation. Watch further to know more.

WION Dispatch: Karachi malls and restaurants stay open despite Government order

Previously shadowed by strikingly high inflation rates; Turkey has seen the steepest drop in its inflation rates in the last 28 years. Trade deficit widens by 138.4% from last year.

World Business Watch: Turkey's consumer inflation at its lowest in 28 years

Pakistan&nbsp;Railways (PR)&nbsp;are in trouble with passenger and freight trains being run with only three-day oil inventory, claims a report.&nbsp;

As the economic crisis deepens in the South Asian country, as per the report&nbsp;a few days back the oil stock had fallen to a low of only a day, forcing the railways to limit their services.&nbsp;

A senior official told Dawn, "A couple of days ago, the railways was left with only one-day oil stock across the country. This forced the authorities to reduce the freight train operations, especially from Karachi and Lahore. It has never happened in the history of the PR. I think the railways will default if the government continues ignoring the department."

<a href="https://www.wionews.com/south-asia/general-bajwa-called-me-a-playboy-during-our-last-meeting-imran-khan-548887">Also read |&nbsp;General Bajwa called me a 'playboy' during our last meeting: Imran Khan</a>

The official who spoke to the publication on condition of anonymity claimed that the condition of&nbsp;the railway department has gotten to the point of collapsing. The department reportedly even lacks funds to&nbsp;clear a $25 billion liability 'gratuity' for several officers and officials who retired recently within&nbsp;a year or so.&nbsp;

The report also claimed that railway workers and officials were getting their salaries around&nbsp;&nbsp;15-20 days late. Due to&nbsp;this, train drivers across the country decided to hold strikes or protests across the country as they didn't receive their salaries even on Dec 20.

The official said, "You can now imagine the PR’s situation well."

<a href="https://www.wionews.com/south-asia/taliban-deputy-pm-mocks-pakistan-by-sharing-picture-of-1971-war-surrender-to-india-548806">Also read |&nbsp;Taliban official mocks Pakistan by sharing picture of 1971 war surrender to India</a>

He said that the department's financial situation was better in the 2017-2018 fiscal year and before as its annual revenue figure reached Rs 20,000 million&nbsp;($ 241.2 million) per annum.&nbsp;

In the case of passenger trains, the official said that the annual figure ranged between Rs 20,000 and&nbsp;25,000 million ($ 240- 300 million) per annum, but is declining despite the arrival of coaches from China. He added that the recent floods also affected the operations, bringing the overall revenue down.&nbsp;

Earlier&nbsp;the railways' assets stayed underutilised due to the inefficiency and alleged negligence&nbsp;of&nbsp;the senior officials, and in the current situation, political instability and unrest triggered by the political parties in the county are adding to the departments' troubles.&nbsp;

(With inputs from agencies)

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&nbsp;

Pakistan Railways (PR) are in trouble with passenger and freight trains being run with only three-day oil inventory, claims a report. As the economic crisis deepens in the South Asian country, as per the report a few days back the oil stock had fallen to a low of only a day, forcing the railways to limit their services.

Pakistan Railways (PR) are in trouble with passenger and freight trains being run with only three-day oil inventory, claims a report. As the economic crisis deepens in the South Asian country, as per the report a few days back the oil stock had fallen to a low of only a day, forcing the railways to limit their services. A senior official told Dawn, "A couple of days ago, the railways was left with only one-day oil stock across the country. This forced the authorities to reduce the freight train operations, especially from Karachi and Lahore. It has never happened in the history of the PR. I think the railways will default if the government continues ignoring the department." Also read | General Bajwa called me a 'playboy' during our last meeting: Imran Khan The official who spoke to the publication on condition of anonymity claimed that the condition of the railway department has gotten to the point of collapsing. The department reportedly even lacks funds to clear a $25 billion liability 'gratuity' for several officers and officials who retired recently within a year or so. The report also claimed that railway workers and officials were getting their salaries around 15-20 days late. Due to this, train drivers across the country decided to hold strikes or protests across the country as they didn't receive their salaries even on Dec 20. The official said, "You can now imagine the PR’s situation well." Also read | Taliban official mocks Pakistan by sharing picture of 1971 war surrender to India He said that the department's financial situation was better in the 2017-2018 fiscal year and before as its annual revenue figure reached Rs 20,000 million ($ 241.2 million) per annum. In the case of passenger trains, the official said that the annual figure ranged between Rs 20,000 and 25,000 million ($ 240- 300 million) per annum, but is declining despite the arrival of coaches from China. He added that the recent floods also affected the operations, bringing the overall revenue down. Earlier the railways' assets stayed underutilised due to the inefficiency and alleged negligence of the senior officials, and in the current situation, political instability and unrest triggered by the political parties in the county are adding to the departments' troubles. (With inputs from agencies) WATCH WION LIVE HERE

Pakistan Railways running trains with just three-day oil inventory, claims report

Tram and bus workers staged a strike in Tunis over no year-end bonus and delayed salaries on Monday, resulting in traffic jams across the capital.

This is the latest strike in a series of similar-kind of protests as the country faces a deepening economic crisis with a continuous shortage of basic commodities like cooking oil and petrol.&nbsp; &nbsp;

The strike emphasises the public companies’ financial issues, which are on the edge of bankruptcy, as the government of President Kais Saied faces one of the worst financial crises.

ALSO READ|&nbsp;<a href="https://www.wionews.com/world/tunisia-goes-to-polls-as-opposition-calls-for-boycott-over-economic-crisis-543972">Tunisia holds polls, opposition terms the exercise farce, calls for its boycott over economic crisis</a>

"The financial situation in the company is really difficult," the spokesperson of Transtu Hayat Chamtouri said. The strike is a display of the UGTT union’s strength, which has promised to hold more protests.

The two-day strike called by sea, land and air transport workers was approved by the union on January 25 and 26 to protest against "the government's marginalisation of public companies".

Transtu workers, in huge numbers, gathered in Kasbah Square near the office of the prime minister and staged a protest demanding the payment that the company owes to them. The workers raised slogans like "we want our rights ... we don't ask for an advantage".

The strike held on Monday is open-ended and it will continue till the demands of workers are fulfilled, UGTT official Wajih Zidi said adding that a few employees were not been able to pay off their debts. &nbsp;

WATCH|&nbsp;Tunisia: Turnout in parliamentary elections much lower than previous polls

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The travel chaos caused by the strike led to an angry response from a few among the thousands of citizens who were facing problems in travelling around Tunis.

"Today we do not find milk, oil, sugar or coffee. Also now we do not find buses that take us to work. Tunisia has become an unbearable hell," stated a woman who was waiting for long at a bus station. In the Intilaka neighbourhood, roads were blocked by people to protest against the strike.

(With inputs from agencies)

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Tram and bus workers staged a strike in Tunis over no year-end bonus and delayed salaries on Monday, resulting in traffic jams across the capital. This is the latest strike in a series of similar-kind of protests as the country faces a deepening economic crisis with a continuous shortage of basic commodities like cooking oil and petrol.

Tram and bus workers staged a strike in Tunis over no year-end bonus and delayed salaries on Monday, resulting in traffic jams across the capital. This is the latest strike in a series of similar-kind of protests as the country faces a deepening economic crisis with a continuous shortage of basic commodities like cooking oil and petrol. The strike emphasises the public companies’ financial issues, which are on the edge of bankruptcy, as the government of President Kais Saied faces one of the worst financial crises. ALSO READ| Tunisia holds polls, opposition terms the exercise farce, calls for its boycott over economic crisis "The financial situation in the company is really difficult," the spokesperson of Transtu Hayat Chamtouri said. The strike is a display of the UGTT union’s strength, which has promised to hold more protests. The two-day strike called by sea, land and air transport workers was approved by the union on January 25 and 26 to protest against "the government's marginalisation of public companies". Transtu workers, in huge numbers, gathered in Kasbah Square near the office of the prime minister and staged a protest demanding the payment that the company owes to them. The workers raised slogans like "we want our rights ... we don't ask for an advantage". The strike held on Monday is open-ended and it will continue till the demands of workers are fulfilled, UGTT official Wajih Zidi said adding that a few employees were not been able to pay off their debts. WATCH| Tunisia: Turnout in parliamentary elections much lower than previous polls The travel chaos caused by the strike led to an angry response from a few among the thousands of citizens who were facing problems in travelling around Tunis. "Today we do not find milk, oil, sugar or coffee. Also now we do not find buses that take us to work. Tunisia has become an unbearable hell," stated a woman who was waiting for long at a bus station. In the Intilaka neighbourhood, roads were blocked by people to protest against the strike. (With inputs from agencies)

Tram and bus workers stage strike over delayed salaries and no year-end bonus in Tunisia

Soon after Bangladesh won its independence in 1971, a key US policy maker Henry Kissinger has famously said that the country will become a basket case. While, Bangladesh has proven Kissinger wrong by its steady success, another South Asian nation has become a basket case here. Yes, you are right we are talking about Pakistan.

Economic crisis worsens in Pakistan, Forex reserves fall to $5.8 billion

A severe economic downturn in Cuba has driven a massive spike in migration. This exodus is this largest in the Island's history. Watch further to know more.

Cuban exodus to U.S. is the largest in the Island's history

In order to provide some relief to its citizens as the country reels under the economic crisis, Spain has announced $10 billion relief package. Spain has been grappling with a cost-of-living crisis.

Spain announces $10 billion relief package to ease economic woes

Sri Lanka's former president Gotabaya Rajapaksa left for the United States with his family on Monday. Gotabaya Rajapaksa was forced out of office earlier this year following the country's economic crisis and unprecedented protests.

WION Dispatch: Sri Lanka's former President Gotabaya Rajapaksa leaves for US

Sri Lanka's former president Gotabaya Rajapaksa who was ousted from power following months of protest has reportedly left for the United States with family, according to a report. This is Rajapaksa's first foreign trip since returning to Sri Lanka more than 3 months ago. Watch to know more.

Sri Lanka's ousted ex-president Rajapaksa, family leaves for U.S.: Reports

Climate change will accelerate humanitarian crisis around the world in 2023. This will add to the issues created by armed conflict and economic downturns. Watch further to know more.

WION Climate Tracker: Climate Change will fuel Humanitarian Crisis in 2023

Tunisia held its general elections on Saturday with the opposition calling for a boycott over the seemingly powerless nature of the mandate. According to local experts, the polls are being considered to be the final move for President Kais Saied to consolidate his power. Tunisia emerged as a democracy from the Arab Spring but since then, widespread corruption has become a norm for the country and the opposition complained that the elections were merely a part of the “coup”.

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The allegations came amid Tunisia’s ongoing negotiations with the International Monetary Fund (IMF) regarding a possible $2 billion bailout package. A source close to the developments told AFP that the plan was on the verge of getting the green light but it was postponed till January 2023 at the request of the Tunisian government. As a result, a major part of the campaign by the ruling government focused on keeping a stable government in order to ensure the IMF funds.

Apart from the sparse meetings, Reuters reported that Tunisia did not witness much campaigning from the parties, pointing towards a lacklustre view of the elections. Even the population did not show enthusiasm in voting and local media reports claimed that turnout was quite low.

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In the past few years, Saied has changed the constitution to allow unlimited powers to the presidency and that has left the parliament with not much say in the matters. While the citizens did back his plans initially, economic crisis and corruption have changed the perspective quite a bit.

According to AFP, the other major change in the Tunisian parliament is the skewed sex ratio when it comes to legislators. While the previous system called for equal representation, the new rules have changed it completely and data suggests that women made up only 15 per cent of the total number of new candidates. 
&nbsp;

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Tunisia held its general elections on Saturday with the opposition calling for a boycott over the seemingly powerless nature of the mandate. According to local experts, the polls are being considered to be the final move for President Kais Saied to consolidate his power.

Tunisia held its general elections on Saturday with the opposition calling for a boycott over the seemingly powerless nature of the mandate. According to local experts, the polls are being considered to be the final move for President Kais Saied to consolidate his power. Tunisia emerged as a democracy from the Arab Spring but since then, widespread corruption has become a norm for the country and the opposition complained that the elections were merely a part of the “coup”. Also read | Twitter Files 6.0 exposes FBI's deep engagements with tech giant The allegations came amid Tunisia’s ongoing negotiations with the International Monetary Fund (IMF) regarding a possible $2 billion bailout package. A source close to the developments told AFP that the plan was on the verge of getting the green light but it was postponed till January 2023 at the request of the Tunisian government. As a result, a major part of the campaign by the ruling government focused on keeping a stable government in order to ensure the IMF funds. Apart from the sparse meetings, Reuters reported that Tunisia did not witness much campaigning from the parties, pointing towards a lacklustre view of the elections. Even the population did not show enthusiasm in voting and local media reports claimed that turnout was quite low. Also read | US House committee likely to press criminal charges against Trump: Report In the past few years, Saied has changed the constitution to allow unlimited powers to the presidency and that has left the parliament with not much say in the matters. While the citizens did back his plans initially, economic crisis and corruption have changed the perspective quite a bit. According to AFP, the other major change in the Tunisian parliament is the skewed sex ratio when it comes to legislators. While the previous system called for equal representation, the new rules have changed it completely and data suggests that women made up only 15 per cent of the total number of new candidates.

Tunisia holds polls, opposition terms the exercise farce, calls for its boycott over economic crisis

Sri Lanka is hoping to get $5 billion from multilateral agencies as loans next year along with an IMF deal, as the government is working towards raising around $3 billion through restructuring of state assets, Sri Lanka’s Foreign Minister Ali Sabry told Reuters on Wednesday.

The nation recently witnessed widespread protests because of a shortage of fuel and food&nbsp; and high inflation as it battled its worst economic crisis in more than seven decades. The protests resulted in the ouster of Sri Lanka’s then-President Gotabaya Rajapaksa in July.

Additional funds are important for the Sri Lankan government which is burdened with a public external debt amounting to $40.6 billion, 22% of which it owes to Chinese creditors. An agreement was reached between Sri Lanka and the IMF in September for a loan of $2.9 billion, which may get approval for disbursal next year.

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"Apart from what we get from the IMF, we are looking at all others, the multilaterals put together another $4-$5 billion," said the foreign minister in an interview.

"The president is interested in restructuring some of the (state) institutions, so through that if we can raise $2-$3 billion, then what happens is that our treasury and reserves become strengthened,” he added. The minister stated that Sri Lanka was looking forward to getting approval from the IMF board for the loan in December; however, it has been likely postponed to January.

The government is working towards finalising financing assurances from nations like India, China and Japan, along with private creditors. The foreign minister said that the government is yet to receive "letters of assurance” for restructuring of debt from India as well as China, which is its largest bilateral creditor.

The minister added that the restructuring efforts have been supported by the two nations and that the required data and documents have been shared by Sri Lanka.

WATCH|&nbsp;Exclusive: Sri Lanka's Foreign Minister Ali Sabry speaks to WION

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"We are very, very clear, both to the IMF and to our multilateral partners and to our bilateral friends that patience is running out and it is urgent for the sake of Sri Lankans and the good health of the world economy," said Sabry.

He stated that there has been improvement in the economy of Sri Lanka overall due to regular imports of essentials like food and fuel. The country’s inflation had increased above 70% earlier this year, however, it eased to 61% by November end and it is expected that the economy will contract by about 8.7% by the year's end.

"Some stability is taking place. Then the growth can return. So that should start in the next quarter of next year with the IMF loan coming in, other multilateral agencies coming in. But the growth to take place, it is going to be 2024 if everything goes according to plan,” said Sabry.

(With inputs from agencies)

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Sri Lanka is hoping to get $5 billion from multilateral agencies as loans next year along with an IMF deal, as the government is working towards raising around $3 billion through restructuring of state assets, Sri Lanka’s Foreign Minister Ali Sabry told Reuters on Wednesday.

Sri Lanka is hoping to get $5 billion from multilateral agencies as loans next year along with an IMF deal, as the government is working towards raising around $3 billion through restructuring of state assets, Sri Lanka’s Foreign Minister Ali Sabry told Reuters on Wednesday. The nation recently witnessed widespread protests because of a shortage of fuel and food and high inflation as it battled its worst economic crisis in more than seven decades. The protests resulted in the ouster of Sri Lanka’s then-President Gotabaya Rajapaksa in July. Additional funds are important for the Sri Lankan government which is burdened with a public external debt amounting to $40.6 billion, 22% of which it owes to Chinese creditors. An agreement was reached between Sri Lanka and the IMF in September for a loan of $2.9 billion, which may get approval for disbursal next year. ALSO READ| Sri Lanka’s 2023 budget gets parliamentary nod amidst unprecedented economic crisis "Apart from what we get from the IMF, we are looking at all others, the multilaterals put together another $4-$5 billion," said the foreign minister in an interview. "The president is interested in restructuring some of the (state) institutions, so through that if we can raise $2-$3 billion, then what happens is that our treasury and reserves become strengthened,” he added. The minister stated that Sri Lanka was looking forward to getting approval from the IMF board for the loan in December; however, it has been likely postponed to January. The government is working towards finalising financing assurances from nations like India, China and Japan, along with private creditors. The foreign minister said that the government is yet to receive "letters of assurance” for restructuring of debt from India as well as China, which is its largest bilateral creditor. The minister added that the restructuring efforts have been supported by the two nations and that the required data and documents have been shared by Sri Lanka. WATCH| Exclusive: Sri Lanka's Foreign Minister Ali Sabry speaks to WION "We are very, very clear, both to the IMF and to our multilateral partners and to our bilateral friends that patience is running out and it is urgent for the sake of Sri Lankans and the good health of the world economy," said Sabry. He stated that there has been improvement in the economy of Sri Lanka overall due to regular imports of essentials like food and fuel. The country’s inflation had increased above 70% earlier this year, however, it eased to 61% by November end and it is expected that the economy will contract by about 8.7% by the year's end. "Some stability is taking place. Then the growth can return. So that should start in the next quarter of next year with the IMF loan coming in, other multilateral agencies coming in. But the growth to take place, it is going to be 2024 if everything goes according to plan,” said Sabry. (With inputs from agencies)

‘Growth can return’, says Sri Lankan FM, as govt aims to raise $8 billion in loans

After months of reeling under the worst economic crisis, Sri Lanka is hoping that growth returns to the nation. The country is expecting as much as $5 billion in loans next year from multilateral agencies besides an IMF deal, while the government is aiming to raise up to $3 billion via restructuring of state assets.

Sri Lanka expecting $5 bn in loans from multilateral agencies

Syria continues to reel under worsening economic crisis. Angry protesters in Sweida city hit the streets and barge into Governor's office. Ghadi Francis tells us about the situation.

The West Asia Post: Anti-govt protests rock Syria

UK is dealing with another blow to economic ecosystem of the country. Housing prices there have dropped by 1.4 percent, the most in around two years. The average housing cost has fallen to a point where it has its flow value and marks the lowest drops in June of 2020.

World Business Watch | UK: Annual house price growth dragged to 4.4% in November

China has donated $100 million to Cuba to help it survive a crippling economic crisis. The donation came as President of Cuba Miguel Diaz-Canel concluded a visit to China, part of a rare foreign trip.

China donated $100 million to help Cuba cope with economic crisis

Afghanistan has been suffering from a severe food crisis since the Taliban took back control and in order to combat the situation, some citizens have come up with disturbing and sometimes even dangerous measures. BBC reported that many Afghan families are sedating their children so that they do not feel hungry and some have even sold their organs and daughters to survive.

The accession of the new Taliban government was followed by a massive economic crisis and although foreign aid did help to cope with the multiple earthquakes, it was not enough to improve the situation. &nbsp;

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The United Nations have called the situation in Afghanistan a “humanitarian catastrophe” and according to BBC, there is a huge number of people in the country at present who do not even earn $1 a day.&nbsp;

The global community has been extremely critical of the harsh regulations that the Taliban has imposed on women and without foreign funds, the economy has seen a collapse unlike any in the nation’s history. As a result, despite knowing its side effects, sedatives have become popular in several areas.&nbsp;

"Our children keep crying, and they don't sleep. We have no food," Abdul Wahab told BBC.&nbsp;

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"So we go to the pharmacy, get tablets and give them to our children so that they feel drowsy."&nbsp;

The illegal organ trade has already gained popularity with people looking to make quick money. A source told BBC that he was paid 270,000 Afghanis ($3,100) for one of his kidneys around three months ago.&nbsp;

"If we eat one night, we don't the next. After selling my kidney, I feel like I'm half a person. I feel hopeless. If life continues like this, I feel I might die," he said in the report.&nbsp;

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Afghanistan has been suffering from a severe food crisis since the Taliban took back control and in order to combat the situation, some citizens have come up with disturbing and sometimes even dangerous measures.

Afghanistan has been suffering from a severe food crisis since the Taliban took back control and in order to combat the situation, some citizens have come up with disturbing and sometimes even dangerous measures. BBC reported that many Afghan families are sedating their children so that they do not feel hungry and some have even sold their organs and daughters to survive. The accession of the new Taliban government was followed by a massive economic crisis and although foreign aid did help to cope with the multiple earthquakes, it was not enough to improve the situation. Also read | Who is Lt Gen Asim Munir and why his appointment as next Pak army chief has rattled Imran Khan? The United Nations have called the situation in Afghanistan a “humanitarian catastrophe” and according to BBC, there is a huge number of people in the country at present who do not even earn $1 a day. The global community has been extremely critical of the harsh regulations that the Taliban has imposed on women and without foreign funds, the economy has seen a collapse unlike any in the nation’s history. As a result, despite knowing its side effects, sedatives have become popular in several areas. "Our children keep crying, and they don't sleep. We have no food," Abdul Wahab told BBC. Also read | China locks down Zhengzhou after iPhone plant protest, Foxconn apologises over hiring "So we go to the pharmacy, get tablets and give them to our children so that they feel drowsy." The illegal organ trade has already gained popularity with people looking to make quick money. A source told BBC that he was paid 270,000 Afghanis ($3,100) for one of his kidneys around three months ago. "If we eat one night, we don't the next. After selling my kidney, I feel like I'm half a person. I feel hopeless. If life continues like this, I feel I might die," he said in the report.

From selling organs to sedating kids: How Afghanistan is ravaged by economic crisis

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