Advertisement The issue of global debt distress is a matter of great concern, not just for the affected developing nations but also for developed countries and international organizations. A recent United Nations Development Program report revealed that 54 developing economies are currently grappling with severe debt problems. Among these nations, Ghana, Zambia, and Sri Lanka … Read more
Advertisement Sri Lanka’s President Ranil Wickremesinghe recently appointed a Green Finance Committee to pioneer a roadmap for sustainable finance and emphasized the need for resource mobilization from multilateral development banks and the private sector to achieve climate change targets. As part of Sri Lanka’s Nationally Determined Contributions (NDCs), updated in 2021, the government committed to … Read more
Advertisement In 2022, as Sri Lanka’s economy entered into its biggest crisis since independence, the emergency financing extended or facilitated by India amounted to about $4 billion. Sri Lanka used about $3.3 billion during the course of the year, especially in the tumultuous first seven months. India became Sri Lanka’s lender of last resort even … Read more