International Monetary Fund

The growth of the world has been forecasted at 3.6 per cent in 2022, the lowest than earlier 2021, at 6.1 per cent.

Economic activities in both countries are driven by the tourism sector and Covid-19 pandemic has made the situation worse for India's two neighbouring countries.

Experts say that even though the IMF projections do sound flattering but India needs to be extra careful about the Covid 19 threat.

The IMF chief stated that the impact could advance if the sanctions are tightened further.

During a debate, Sitharaman also emphasised how India's startup environment has grown in recent years. The finance minister is in the United States for a meeting of the G20 finance ministers and central bank governors (FMCBG).

According to the authors, urban poverty increased by 2 percentage points during the demonetisation event in 2016, but then declined dramatically. The research also stated that rural poverty increased by 10 basis points in 2019, most likely owing to a halt in GDP.

According to the finance ministry, creditors, including foreign governments that had financed to the South Asian nation, were free to capitalise on any interest payments owing to them as of Tuesday afternoon or choose for repayment in Sri Lankan rupees.

Many Sri Lankans belive that the rule of one family -- the Rajapaksas -- is the reason for the ongoing mess.

The working paper, authored by IMF Executive Director to Sri Lanka Surjit S Bhalla, former chief economic adviser Arvind Virmani and economist Karan Bhasin, notes that extreme poverty can be considered to be eliminated.

As Sri Lanka continues to grapple with a severe economic crisis, with food and fuel scarcity impacting a huge number of people, President Gotabaya Rajapaksa has lifted the state of emergency issued earlier this month. The relaxation went into effect at 12:01 a.m. on April 5.