Asia Credit
Syria receives IMF visit for first time since 2009
Conflict-torn country faces “enormous challenges”, says mission. Majority of GDP wiped out. Restoring power infrastructure alone could cost at least $40bn.
Pakistan holds key interest rate at 11% amid oil price risks
Pakistan’s central bank has kept the interest rate unchanged at 11%, citing fresh inflationary risks due to volatile global oil prices and regional geopolitical tensions.
Xi signs treaty to elevate China's ties with Central Asia at Astana summit
Document refers to "permanent good-neighbourliness and friendly cooperation". Chinese leader takes jab at US, saying trade and tariff wars "produce no winners".
How Turkey freed Islamic State suspects after G7 terrorist money watchdog took country off grey list
Fact that trial of 19 alleged terror finance individuals was being pursued was factor in FATF’s decision to end listing.
India overtakes Japan to become world's fourth largest economy in nominal terms
The size of India’s economy has overtaken Japan’s to become the fourth largest economy in the world in nominal terms, worth $4.34 trillion.
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China shifts from global banker to leading debt collector
Once the primary provider of capital across much of the world, Beijing now finds itself at the receiving end of record repayments, particularly from some of the world’s poorest and most vulnerable nations.
Sri Lanka likely to hold rates steady amid stable growth and tariff uncertainty
The country's economy grew by 5% in 2024, outperforming expectations and marking a significant turnaround after a deep financial crisis triggered by a severe shortage of US dollars three years ago.
China’s central bank unveils 10-point plan to help calm markets, steer growth
Among the most headline-grabbing moves is a 0.5 percentage point cut in the reserve requirement ratio, expected to unleash some CNY1 trillion ($138bn) into the financial system. But that’s just the beginning.
COMMENT: Trump’s tariff drive hits emerging markets as growth and inflation forecasts slide – Oxford Economics
President Donald Trump’s aggressive trade policies are already casting a long shadow over emerging market economies, with analysts cutting growth forecasts and warning of prolonged investment uncertainty and policy disruption.
Reserve Bank of India signals further rate cuts as inflation eases and growth outlook weakens
With inflation in India expected to remain close to target during the current fiscal year, the Reserve Bank of India has room for further monetary easing, members of the Monetary Policy Committee said in the minutes of the April policy meeting.
IMF: Global debt to exceed pandemic levels soon
Global public debt is set to rise to 95% of GDP this year and will continue to climb in the next years to top 100%, says the IMF.
Bank of Korea expected to lower rates in April despite currency slide
South Korea's central bank is leaning towards reducing interest rates this April, even as the national currency hits its weakest point since 2009.
Oil falls 3.75% amid global trade war recession fears
Oil prices fell 3.75% on April 7, continuing last week's losses, as escalating trade tensions between the United States and China fuelled fears of an economic recession that could reduce crude demand.