Last year, Sri Lanka faced its worst economic crisis in over 70 years, leading to riots, shortages, and domestic strife. The crisis was aggravated by significant foreign debt owed to Chinese creditors due to heavy borrowing during the civil war. China had been increasing its influence on the island nation, challenging India’s traditional sphere of […]
Related Posts
Congo’s Coltan Crisis: M23 Rebels Rake in $300K Monthly from Seized Mines
The M23 rebel group has tightened its grip on the Rubaya coltan mining region in the eastern Democratic Republic of Congo. This development has sparked international alarm due to its far-reaching implications. The rebels now impose a production tax on the mines, generating an estimated $300,000 in monthly revenue. Coltan, a crucial mineral used in […]
European Nations Pledge Recognition for Palestinian State
In recent diplomatic efforts, Spain, Ireland, and Norway have taken a pivotal step towards recognizing Palestine as a state. This initiative, led by Spanish Prime Minister Pedro Sánchez, highlights a significant shift in European diplomacy regarding the Israeli-Palestinian conflict. During his recent visits to Norway and Ireland, Sánchez received commitments from both nations to support […]
Africa’s Currency Struggles and Economic Outlook
The International Monetary Fund (IMF) warns of ongoing currency weakness in African economies, expected to persist until Q3 2024. This comes as the US Federal Reserve eyes a peak interest rate of around 5.4%, set to pressure struggling African currencies further. Since 2022, significant economies, including the EU, UK, and US, have seen interest rates […]