In a statement German Finance Minister Christian Lindner said, it was impossible to say how much it would cost to rebuild Ukraine. “The Ukrainian side doesn’t talk a lot about reconstruction. The priority is stopping the war, the priority is… Read More ›
In a significant development, US Treasury Secretary Janet Yellen said, the United States does not have the legal authority to seize frozen assets of the Russian central bank following its invasion of Ukraine. She also said, it is likely that… Read More ›
On Tuesday, a spokesman for Sri Lanka’s cabinet said, Sri Lanka has started negotiations with China on refinancing its debt as it struggles to manage its worst financial crisis in decades. “Now since the IMF is willing engage with Sri… Read More ›
In a statement, David Malpass, the president of the World Bank said, physical damage to buildings and infrastructure in Ukraine as a result of the war has touched roughly $60 billion and is set to rise further since the Biden… Read More ›
Finance ministers from the Group of 7 wealthy countries said, together they have pledged additional support to Ukraine in excess of $24 billion for 2022 and beyond; they also said, they were prepared to do more as and when required…. Read More ›
On Monday, the World Bank said its executive board has approved a $723 million loan package and grants for Ukraine. The move is aimed at providing desperately cash to the Ukrainian government to support its budget even as it battles… Read More ›
All is not well with China’s economy. Cash-strapped Chinese developers are scrambling to negotiate new terms with their bondholders to avoid defaults, with Yuzhou Group and the Shimao Group being the latest case in point of Chinese developers seeking extensions on their… Read More ›
In a statement Standard Chartered said, it had arranged $1.1 billion in financing to the Angolan government for a water supply project that will serve its capital city Luanda. The funding is made up of two loans – a $910 million… Read More ›
According to analysts and trade experts, the coup by Myanmar’s military is likely to dampen the interest of western companies in investing in the country and may even prompt big U.S. companies to relocate. In the first 11 months of… Read More ›
In a significant development, the World Bank’s private-sector arm has introduced new climate change specific conditions, which encourages commercial banks and other financial lenders to wind down support for coal projects in Asia and Africa. The International Finance Corporation (IFC),… Read More ›
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