Timor-Leste, also known as East Timor, has made significant strides since its tumultuous birth in 2002, but the economic impact of the plunder of resources of centuries of Portuguese colonial rule and the looting, pillage, and large-scale destruction of property during a 24-year Indonesian occupation can still be felt today.
Sri Lanka has passed the worst of the crisis a year after the island nation’s economic collapse led to the appointment of a new government. But as Anjana Pasricha reports, millions of people in Sri Lanka continue to experience hardship, so the country’s economic problems are far from over.
On paper, Lebanon appears to be going thru one of the most critical economic crises in the last 150 years. Many people are now fallen into poverty.However, as the summer season begins, bars and restaurants are busier than ever, puzzling economists and exposing the growing disparity between the rich and the poor.
From New York to Beijing, concerns over recent bank collapses and bailouts are affecting the world’s economy, and central bankers are trying to calm depositors and the financial markets. Silicon Valley Bank, a significant player in the IT sector, collapsed earlier this month.
According to Pakistan media reports, the price of consumables has climbed by 20 to 31%, and Pakistan’s poverty rate has increased by 35.7%.The cost of basic necessities is once more burning a large hole in the Pakistani average person’s pocket.
The International Monetary Fund announced Wednesday that it had preliminarily agreed to give Bangladesh a U.S. $4.5 billion loan to help its economy stay afloat amid high inflation and challenges posed by climate change.
According to South African surveys, graduates and high earners are increasingly packing their bags and moving overseas as a result of the country’s struggling economy. South Africa’s tax revenue is being affected by the brain and wealth drain, which analysts warn may thwart government plans to distribute more wealth to those who are socially and economically marginalised
Despite the debt load it places on many countries, economists believe China’s investment model in Africa is gaining public support. The United States’ multibillion-dollar investments in Africa, according to economists and locals, are less apparent and have a less influence on people’s daily lives