Private Western creditors come under pressure to take a haircut as China and the Paris Club agree to sort out Zambia’s external debt crisis.
Sri Lanka's government is preparing a policy framework to be presented to the International Monetary Fund, the World Bank and international creditors, as it seeks a way out of its worst economic disaster.
The constitutional referendum, which is expected to pass amid boycott calls, will concentrate all powers in the hands of the president.
The prime minister says the country's financial legal advisers are working on a debt sustainability report amid the additional challenges of bankruptcy.
Economy Minister Martin Guzman did not say why he resigned in his statement addressing President Alberto Fernandez, but called on the center-left leader to mend internal divisions.
But the UGTT union, which has more than 1 million members, says it will allow its members the freedom to vote as they choose on the constitution proposed by President Kais Saied.
The heavily-indebted North African nation seeks a two billion dollar loan from the global lender, says a source with knowledge of the preliminary talks.
The loan facility agreement with Pakistan and consortium of Chinese banks is expected within a couple of days to prop up the country's depleting foreign reserves, according to Federal Minister of Finance Miftah Ismail.
The UGTT trade confederation demands a new deal to raise public sector salaries, including retroactively for last year, as the country faces soaring inflation.
Rohan Weliwita, a spokesperson for Prime Minister Mahinda Rajapaksa, said the president has not communicated any intent to remove the prime minister.
The move paves the way for a presidential vote in Somalia after more than a year of political deadlock.
Region faces "stagflationary" risk, a senior IMF official warns, citing Ukraine conflict, spike in commodity costs and a slowdown in China as creating significant uncertainty.
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