Islamabad: Pakistan has been plagued by concerns that the country’s condition will be similar to that of Sri Lanka in the coming months. When the debt burden on Pakistan has increased tremendously, new loans must be taken at high-interest rates to run the country. Most new loans have to be used to repay the loans […]
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Moscow: Russia’s President Vladimir Putin has warned that sanctions imposed on Russia by the West over the Ukraine conflict have led to a global economic crisis, food shortages and starvation among several developing countries. Russia is facing tough sanctions, and its economy is slowly recovering, he said. Amid Putin’s claims, Russia’s currency, the Ruble, has […]
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Istanbul: – Economic policy of President Recep Tayyip Erdogan and the central bank’s actions have led to a fall in the value of the Lira in international markets. The Turkish Lira depreciated by 1% on Monday, and inflation in the country reached a record high. Local and international organisations are warning that this could further […]
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Istanbul: – Majority of the Turkish population has concluded that President Erdogan cannot pull Turkey out of the economic crisis. It has become clear in a recent survey that nearly 64% of the people believe this. The value of Turkish currency Lira has declined to a record low. Besides, the population is harassed due to […]
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New Delhi – The government has no plans to print more currency notes to alleviate the financial crisis caused by the Coronavirus, Finance Minister Nirmala Sitharaman said. The finance minister made this revelation while answering a question in the Lok Sabha. Stating that the fundamentals of the Indian economy are powerful, Finance Minister Sitharaman assured […]
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Brussels: Billionaire investor George Soros has suggested that Europe should issue bonds in the category of perpetual bonds to avoid the economic recession that could be caused by the Coronavirus pandemic. Last week, Germany and France, the leading countries in Europe, announced a fund of 500 billion Euro to avert the economic hit because of […]
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Berlin/Paris: A special fund of 500 billion Euros has been declared to bring the European economies, derailed due to the Coronavirus crisis, back on track. This information was revealed after the videoconference held between the heads of state of Germany and France. The list of economies most affected by the Coronavirus crisis includes leading economies […]
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Washington: US economist and investor Peter Schiff warned ‘The current situation in the United States is the beginning of the biggest economic crisis in the history of the United States. The intensity of the new recession is so dreadful that the crisis in 2008 will look minuscule, in front of it. The situation will be […]
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Brussels/Berlin: Both Germany and the United Kingdom, known to be the mainstays of the European economy are reeling under the shadows of recession. The German economy has fallen by 0.1% in the third quarter of 2019 and has recorded a decrease in demand for industrial production in the last two months. The investments in the […]
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Beijing: The Chinese government has acquired the Baoshang bank that was heading towards bankruptcy. This is the first instance of the Chinese government taking over a private bank in the last two decades. This exposes the weakness of the Chinese banking sector, credit availability and economy, and these are indications of the beginning of a […]
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