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Last Sunday -- with two notable exceptions -- Sri Lanka's cabinet resigned en masse in protest against the government's handling of the worst economic crisis to hit the island in decades, which has sparked widespread rioting, unrest, and arson attacks on police property.

Lebanon and the International Monetary Fund have reached a tentative agreement on comprehensive economic policies that could eventually pave the way for unlocking billions of dollars in loans to the crisis-hit country

The International Monetary Fund (IMF) said on Thursday it had reached a staff-level agreement with Lebanon for a four-year extended fund facility that would however only get full approval from the fund if Beirut enacts a series of reforms. An agreement with the IMF is seen as vital for Lebanon…

The International Monetary Fund (IMF) said on Thursday it had reached a draft funding agreement with Lebanon - but that Beirut needed to enact a batch of economic reforms first before its board decided whether to approve the deal.

The rupee hit 188.14 to the US dollar as the country’s top court prepared to deliver a verdict.

Sri Lanka must urgently seek funds from multilateral lenders and aim to restructure a debt payment due in July, its outgoing finance minister said on Thursday, pleading for political stability amid the country's worst economic crisis in decades.

The sanctions freezing Russia’s foreign currency reserves have created an incentive for countries to bypass the US currency

In 2020, Mahinda Rajapaksa won elections to become Sri Lanka's prime minister, serving under his brother and president Gotabaya. In 2021, another sibling, Basil, was named finance minister, tightening the family's hold on power.

Over 40 MPs including from allies of ruling SLPP alliance sat as a separate block

Experts have warned that the pandemic could ‘reverberate’ around the world for years to come.