Author: Saket Singh

After defaulting on its foreign debt last year, the nation is struggling with a rise in prices, scarcity of supplies, and depleted foreign currency reserves, and the bailout is expected to provide much-needed funding to address these issues. On Monday, the executive board of the International Monetary Fund approved a bailout of four-year extended financing arrangement worth $3 billion for Sri Lanka, allowing for the immediate disbursement of $333 million to the financially troubled country, which could assist the nearly bankrupt nation in overcoming its worst financial crisis in over 70 years. The agreement, which has been in the works…

The failures of Silicon Valley and Signature Banks raise concerns over wider banking risks, but regulators aim to reassure customers. Buffet’s history of assisting troubled banks during crises, have positively impacted the economy and public perception. As the banking crisis unfolds in the United States, Warren Buffett, an American business magnate, has been in contact with senior officials in Joe Biden’s administration. People familiar with the matter, who requested anonymity due to the sensitive nature of the information, have reported that there have been several discussions between Biden’s team and Warren Buffett in the past week. The conversations have focused…