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As close friends and maritime neighbours, both India and

'India's $900 million aid helped prevent immediate economic crisis': Sri Lanka's top economist

World | January 15, 2022 23:31 IST

On Thursday, India announced a USD 900 million loan to Sri Lanka to build up its depleted foreign reserves and for food imports, amid a shortage of almost all essential commodities in the island nation. The Indian High Commissioner to Sri Lanka Gopal Baglay met the Central Bank Governor Ajith Nivard Cabraal and “expressed India’s strong support to Sri Lanka in the wake of RBI extending over USD 900 million facilities over the last week”.

Centre seeks NCLT nod to overtake management of crisis-hit IL&FS, hearing underway

Business | October 01, 2018 12:43 IST

Debt defaults by certain group entities of diversified IL&FS have triggered fears of liquidity crisis in the financial markets and the RBI has been taking steps to improve the overall cash situation.

Rahul Gandhi coins new acronym for IL&FS, accuses PM Modi of using people's money to bailout group

Politics | October 01, 2018 7:39 IST

The tweet in Hindi titled "Lights, Camera, Scam", alleges that in 2007 when Modi was the Gujarat Chief minister, IL&FS was given the 'GIFT CITY' project worth Rs 70,000 crore. Till date no work has been achieved under the plan.

Euro finance ministers seek to conclude Greek bailout saga

Eurozone nations end Greece's 8-year bailout saga

World | June 22, 2018 15:51 IST

The agreement will end the eight-year debt-relief program for Greece, in which the country received 300 billion euros in three financial assistance programs as agreed in 2010, 2011 and 2015 in exchange for structural reforms and fiscal adjustments.

Greek PM Alexis Tsipras set to resign, elections set for Sept 20

World | August 20, 2015 22:55 IST

Athens, Greece: Greece's Prime Minister Alexis Tsipras will call early elections for next month, government officials said Thursday, as he tackles a rebellion by hardliners within his governing left-wing party who oppose the terms of

Greek bailout talks shift into higher gear

World | July 31, 2015 19:12 IST

Athens: Greece's talks with its international creditors on a third bailout worth 85 billion euros (USD 93 billion) shifted into a higher gear today, with lead negotiators from the European Union and International Monetary Fund

Greece gets relief from creditors after first austerity test

World | July 16, 2015 23:13 IST

Athens, Greece : Greece got a triple dose of good news on Thursday, when creditors agreed to open talks on a third bailout package, to give the country an interim loan to cover its debts,

Greece to miss IMF debt payment and bailout to expire

World | June 30, 2015 20:28 IST

Athens, Greece: Greece is set to become the first developed nation to not pay its debts to the International Monetary Fund on time, as the country sinks deeper into a financial emergency that has forced

Pakistan seeks $ 11 billion bailout package from IMF, donors

World | July 02, 2013 15:34 IST

Islamabad, Jul 2: Cash-strapped Pakistan today movedcloser to securing a massive USD 11 billion economic bailout package from international donor agencies including the IMF, to revive the ailing national economy, media reports said.After lengthy discussions