Argentina may have the third largest economy in Latin America but it has been in economic crisis for years. The country's currency hit an all-time low and he inflation is running above 60%.

WION Fineprint | Argentina's currency hit an all-time low, inflation is running above 60%

The political system of Pakistan seems to be wobbling towards Disequilibrium again. PM Shehbaz Sharif is staring at multiple crisis but the most crucial ones that he needs to tackle urgently is the coalition and financial crisis.

Pakistan: Coalition trouble for PM Shehbaz Sharif amid economic crisis

Sri Lanka will allow companies from oil-producing countries to import and sell fuel, the power and energy minister said on Tuesday, ending a duopoly as it tries to overcome a shortage of petrol and diesel that is exacerbating an economic crisis.

Sri Lanka to end fuel duopoly to ease fuel shortages

Sri Lanka continues to reel under unprecedented economic crisis. Citizens of the island nation are left with no option but to stand in long queues for fuel. WION tells you more in this story.

Acute fuel shortage troubles Sri Lankans, no end to economic woes

Britons are facing economic crises nowadays. They are not just battling the high cost of living but also facing the problem of ballooning short loans and depositing the paper notes before more durable plastic notes come into use.

UK 'Buy now, pay later' debt trap

Sri Lanka is facing its worst financial crisis, a high-level delegation from India has arrived in Colombo. During its three-hour visit, the Indian delegation will hold talks on additional support from New Delhi.

Sri Lanka economic crisis: Indian officials hold talks on additional aid

Sri Lanka continues to reel under unprecedented economic crisis. Amid the turmoil, Indian delegation is going to visit Sri Lanka on Thursday and are expected to meet Lankan president Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe.

Economic Crisis: Indian delegates to meet Sri Lankan PM and President to assess Lanka's ground situation

Sri Lankans have been queuing up, for food, fuel, and more recently passports. Sri Lankans have been applying for new passports in a bid to leave the country amid the economic crisis.

Queues in Sri Lanka – for fuel, food & now passports

There doesn't seem to be any respite for Pakistan, it is deprived of two of the most fundamental elements to run a democracy- political and economic stability. It desperately needs the International Monetary Fund on its side to come out of this

Pakistan economic crisis: 'Renegotiate energy deal with China,' IMF puts Pakistan in a tough spot

Amid the ongoing stalemate over Iran nuclear deal and US sanctions, Iran's currency Rial's value has dropped to a new low. The price of basic commodities reaches a record high.

The economic crisis in Iran: Rial value drops amid US sanctions

South Asian nations are facing three big challenges - debt, inflation and shrinking forex. Will more countries go the Sri Lanka way? What must India do? Palki Sharma tells you.

Gravitas: Economic crisis brewing in India's backyard

Sri Lanka's president says choosing his nation over his brother was the most difficult decision of his life. Gotabaya Rajapaksa says he asked Mahinda to resign as the country's prime minister, a decision he took thinking about the future of the nation.

Economic Crisis: Sri Lankan President says he put his nation over his brother

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

There seems to be no end to government's woes as economic crisis hit Sri Lanka continues to witness massive protests against country's top leadership upping voice against the incumbent government. Amid protests in the Island nation, PM Ranil Wickremesinghe that his government is working on amending the constitution and cabinet accountable to parliament

Sri Lanka Economic crisis: PM Ranil Wickremesinghe proposes 'accountable' cabinet

There seems to be no end to government's woes as economic crisis hit-island nation continues to witness massive protests against country's top leadership upping voice against the incumbent government.

Sri Lanka continues to witness massive protest; cops use water cannons, tear gas shells

Sri Lankan President Gotabaya Rajapaksa has pleaded at the World Economic Forum for international assistance to help the country deal with its worst economic crisis.

Sri Lanka: President Rajapaksa pleads for international assistance amid financial woes

The financial crisis continues in Sri Lanka. President Gotabaya Rajapaksa has pleaded at the World Economic Forum for international assistance to help the country deal with its worst economic crisis

Sri Lanka Economic crisis: Rajapaksa speaks at the WEF virtually, asks for International assistance

This is the second day of the Turkish foreign minister Mevlut Cavusoglu's two-day trip to Israel and Palestinian territories. Top diplomats of Israel and turkey have said that they hope to expand the economic ties they also seek to put an end to more than a decade of the strange ties.

Israel, Turkey to expand economic ties, aim to ease strained relationships

Months have passed and there's still no sign of respite for Sri Lankans. The country continues to battle the worst financial crisis in its independent history. Sri Lanka's economic crisis has also had its implications on the country's politics in the last few weeks.

Sri Lanka battles its worst financial crisis, finance minister's post still vacant

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

Pakistan banned imports of several luxury items under the so-called "emergency economic plan" on Thursday as the economic crisis accentuates on account of low foreign reserves and the weakening Pakistani rupee.

The announcement was made by Prime Minister Shehbaz Sharif on Twitter saying that the decision would "save the country precious foreign exchange".

“My decision to ban import of luxury items will save the country precious foreign exchange. We will practice austerity &amp; financially stronger people must lead in this effort so that the less privileged among us do not have to bear this burden inflicted on them by the PTI govt,” he said.

The decision comes as the dollar witnessed a meteoric rise against the Pakistani rupee over the past few weeks on account of the country's rising import bill, growing current account deficit and depleting foreign exchange reserves.

On Thursday, the dollar shattered all records and soared to Rs 200 in the interbank market.

Earlier, Information Minister Marriyum Aurangzeb announced during a press conference on Thursday said that it was "an emergency situation" and Pakistanis would have to make sacrifices under the economic plan, adding that the impact of these bans would be around $6 billion.

Among the list of banned items include

<ul>
	<li>Automobiles</li>
	<li>Mobile phones</li>
	<li>Home appliances</li>
	<li>Fruits and dry fruits (except from Afghanistan)</li>
	<li>Crockery</li>
	<li>Private weapons and ammunition</li>
	<li>Shoes</li>
	<li>Chandeliers and lighting (except energy savers)</li>
	<li>Headphones and loudspeakers</li>
	<li>Sauces</li>
	<li>Doors and window frames</li>
	<li>Travelling bags and suitcases</li>
	<li>Sanitary ware</li>
	<li>Fish and frozen fish</li>
	<li>Carpets (except from Afghanistan)</li>
	<li>Preserved fruits</li>
	<li>Tissue paper</li>
	<li>Furniture</li>
	<li>Shampoos</li>
	<li>Confectionary</li>
	<li>Luxury mattresses and sleeping bags</li>
	<li>Jams and jelly</li>
	<li>Cornflakes</li>
	<li>Toiletries</li>
	<li>Heaters, blowers</li>
	<li>Sunglasses</li>
	<li>Kitchen ware</li>
	<li>Aerated water</li>
	<li>Frozen meat</li>
	<li>Juices</li>
	<li>Pasta</li>
	<li>Ice cream</li>
	<li>Cigarettes</li>
	<li>Shaving goods</li>
	<li>Luxury leather apparel</li>
	<li>Musical instruments</li>
	<li>Salon items like hair dryers etc</li>
	<li>Chocolates</li>
</ul>

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Pakistan banned imports of several luxury items under the so-called "emergency economic plan" on Thursday as the economic crisis accentuates on account of low foreign reserves and the weakening Pakistani rupee.

Pakistan banned imports of several luxury items under the so-called "emergency economic plan" on Thursday as the economic crisis accentuates on account of low foreign reserves and the weakening Pakistani rupee. The announcement was made by Prime Minister Shehbaz Sharif on Twitter saying that the decision would "save the country precious foreign exchange". “My decision to ban import of luxury items will save the country precious foreign exchange. We will practice austerity & financially stronger people must lead in this effort so that the less privileged among us do not have to bear this burden inflicted on them by the PTI govt,” he said. The decision comes as the dollar witnessed a meteoric rise against the Pakistani rupee over the past few weeks on account of the country's rising import bill, growing current account deficit and depleting foreign exchange reserves. On Thursday, the dollar shattered all records and soared to Rs 200 in the interbank market. Earlier, Information Minister Marriyum Aurangzeb announced during a press conference on Thursday said that it was "an emergency situation" and Pakistanis would have to make sacrifices under the economic plan, adding that the impact of these bans would be around $6 billion. Among the list of banned items include Automobiles Mobile phones Home appliances Fruits and dry fruits (except from Afghanistan) Crockery Private weapons and ammunition Shoes Chandeliers and lighting (except energy savers) Headphones and loudspeakers Sauces Doors and window frames Travelling bags and suitcases Sanitary ware Fish and frozen fish Carpets (except from Afghanistan) Preserved fruits Tissue paper Furniture Shampoos Confectionary Luxury mattresses and sleeping bags Jams and jelly Cornflakes Toiletries Heaters, blowers Sunglasses Kitchen ware Aerated water Frozen meat Juices Pasta Ice cream Cigarettes Shaving goods Luxury leather apparel Musical instruments Salon items like hair dryers etc Chocolates WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Pakistan bans import of luxurious items as weak rupee, low reserves batter economy

Customers were turned away at gas stations after Sri Lanka ran out of money to purchase fuel. The new Prime Minister has proposed three bitter pills to revive the Lankan economy. Palki Sharma tells you more.

Gravitas: Sri Lanka runs out of money to buy fuel

Sri Lanka is in a mess as they have run out of petrol, medicines and foreign reserves. The measures needed to pull the economy out of this crisis could bring even more pain. The Island nation has suspended sovereign debt payments.

Sri Lanka suspends sovereign debt payments amid economic crisis

Sri Lankan Prime Minister Ranil Wickremesinghe slammed the Opposition leaders for moving a motion in Parliament seeking an urgent debate to censure President Gotabaya Rajapaksa over the nation’s worst economic crisis.

Sri Lanka Crisis: Will vote in favour of NCM against President Gotabaya, says PM Wickremesinghe

Sri Lankan Prime Minister Ranil Wickremesinghe in a special televised address commented on how he proposes to confront the current economic crisis.

Sri Lankan PM Ranil Wickremesinghe’s addresses the nation on economic crisis

The island nation of Sri Lanka is drowning deep into an economic crisis. Ranil Wickremesinghe, the new Prime Minister of Sri Lanka who was sworn in last week addressed the country. In his speech, Wickremesinghe presented the full picture of Sri Lanka's current economic crisis.

Sri Lankan PM Ranil Wickremesinghe gives full picture of country's economic crisis

An economic crisis is brewing in Nepal. India's neighbour is currently witnessing massive surge in its import rate and a depleting foreign reserve. WION's Saloni Murarka had an exclusive conversation with Nepalese finance minister Janardan Sharma, who spoke about the current economic situation in the country.

WION Exclusive: Nepal's foreign reserve will only last 6-7 months, says Janardan Sharma

As Sri Lanka's Covid-19 crisis worsens the country's newly appointed Prime Minister Ranil Wickremesinghe said that the crisis-hit nation is now down to its last day of petrol.

India provides shipments of petrol to Sri Lanka amid economic crisis

According to reports, the Sri Lanka Freedom Party (SLFP) has expressed its support for all decisions taken by the government to resolve the country's economic crisis.

Sri Lanka Crisis & Chaos: SLPF to lend support to new government, says reports

The nationwide curfew in Sri Lanka was lifted on Sunday as people gathered to celebrate the Buddhist festival. Sri Lankans were seen celebrating Vesak, a Buddhist festival amid the ongoing economic and political crisis in the country. People hoped that the festival will unite Sri Lankans.

Sri Lanka lifted nationwide curfew to celebrate this festival

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