For the first time in the history of Himachal Pradesh, 2 lakh employees and 1.5 lakh pensioners of the state did not get salaries and pensions on September 1 due to the ongoing financial crisis. Just days ago, Chief Minister Sukhvinder Singh Sukhu had announced that his Cabinet ministers would not take their salaries for … Read more
Pakistan’s caretaker government is in talks with China and Saudi Arabia to secure $11 billion, aiming to prevent a full-scale economic crisis. The objective is to maintain the International Monetary Fund (IMF) bailout program. Dr. Shamshad Akhtar, the caretaker Finance Minister, disclosed that the government is developing an economic revival strategy. Although the caretaker government … Read more
Accra: Ghana on Monday suspended payments on most of its external debt, effectively defaulting as the country struggles to plug its cavernous balance of payments deficit. Its finance ministry said it will not service debts including its Eurobonds, commercial loans, and most bilateral loans, calling the decision an “interim emergency measure”, while some bondholders criticized … Read more