"India on the other hand has enduring civilisational relations with the world. This has seen India's leadership emphasising on diaspora and cultural links to great advantage with substantial success."
Meanwhile, data released by the department of economic affairs in the Finance Ministry showed interest paid on debt has increased to Rs 8.05 lakh crore in FY22 from Rs 6.80 lakh crore in FY21.
The country is also facing hyperinflation and lengthy electricity blackouts after the CEB was unable to buy oil for its thermal generators.
A reminder on how widespread harassment by recovery agents is. There have been many similar cases in Andhra Pradesh in recent times.
Sri Lanka needs about USD 5 billion in the next six months to cover basic necessities for its people, who have been struggling with long queues, worsening shortages and power cuts.
China, which accounts for 10% of Sri Lanka’s debt, has resisted offering a debt cut.
Buggana says AP’s borrowings are comparatively less than other States, no truth in TDP’s claim of paying more interest.
Union Minister of Finance Nirmala Sitharaman gave these figures in the Lok Sabha on Monday, while replying to a question raised by a member, Kishan Kapoor, on the debt burden of the States.
He highlighted the global grim situation in view of inflationary pressures, tighter external funding situation and financial stability challenges in many countries.
International experts warn that other debt-ridden countries -- from Laos in Southeast Asia to Kenya in East Africa -- are teetering toward a similar fate.
Cumulatively, 21 states have raised Rs 1,44,600 crore so far this fiscal, which is nearly 23 per cent lower than the year-ago level when it was Rs 1,86,900 crore.
The country has been facing a serious threat from its external front as the State Bank of Pakistan's foreign exchange reserves fell to single digits despite a USD 2.3 billion inflow from China.
The LTTE was vanquished, but a series of blunders by governments mostly run by the Rajapaksa family since 2009 led to the ruinous economic situation.
China is now the second-largest lender to Sri Lanka, holding more than 10 per cent of Sri Lanka's outstanding foreign debt in 2019.
However, equity funds continue to see net inflows. Despite volatile equity markets, equity mutual funds received net inflows of Rs 15,500 crore.
"Beginning July 30, 2022 incremental FCNR(B) and NRE deposits with reference base date of July 1, 2022 will be exempt from the maintenance of CRR and SLR,” RBI said.
Debt stock will go up by Rs 22,356 cr because of development work post-Covid pandemic
Pakistan’s economic crises have become cyclical. In the absence of structural reforms, it has very little choice but to seek a bailout package from its lenders.
The debt to GSDP ratio and fiscal deficit to GSDP ratio saw an abnormal increase in 2020-21 and 2021-22.
The country faces a Sunday night deadline to meet a 30-day grace period on interest payments originally due May 27 but it could take time to confirm a default.