Sri Lanka Podujana Peramuna (SLPP), the island nation’s strongest ruling coalition in over four decades, is facing an imminent split into fractions after the party’s failed economic policies led to public anger, protests and the ouster of a powerful sitting president.
The Federal Reserve hiked its main policy rate 75 basis points to target a 3.75/4.0 percent and said the policy rate may peak at higher level than indicated in September.
Sri Lanka has released the official data on its outstanding foreign debt as the island nation is in the process of discussing with creditors for debt restructuring the loans to qualify for $2.9 billion, 4-year International Monetary Fund (IMF) loan.
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