Sri Lanka set for economic bailout
The IMF has provisionally agreed a $2.9 billion deal to save the nation from collapse. It's a lifeline after months of turmoil, but analysts warn there's a long road ahead.
The IMF has provisionally agreed a $2.9 billion loan deal to save Sri Lanka from collapse.
The country鈥檚 economy tanked in April, sparking a wave of fuel and food shortages, hyperinflation and political upheaval. Although the deal isn't complete, many citizens believe it will be a lifeline. Shiromay Coomar, a travel business owner, is optimistic for the future. However, IMF fellow and Sri Lanka think tank chief Dr Paikiasothy Saravanamuttu says there's a long road ahead.
We're joined by Pakistan's Finance Minister, Miftah Ismail, as the country deals with another devastating flood.
Emma Wall from Hargreaves Lansdown looks at the day's markets.
We're also asking if European shoppers are ready to embrace Alibaba, as the Chinese platform aims to grow its western consumer base. Shopping expert Catherine Shuttleworth looks into the retailer's latest strategy.
(Picture: Despite the news of an IMF bailout, protests continue on the streets of Sri Lanka. Credit: Getty Images.)
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- Thu 1 Sep 2022 14:32GMT91热爆 World Service