NEWS Source and Crdit: Al Jazeera News
Sri Lanka’s central bank has surprised markets by cutting interest rates for the first time in three years – a sign of confidence that the worst of Sri Lanka’s financial crisis is over.
Economic mismanagement, coupled with the effects of the COVID-19 pandemic, left Sri Lanka severely short of dollars for essential imports at the beginning of last year, tipping the island nation into its worst financial crisis in seven decades. Continue reading