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Month: June 2023

IMF says Sri Lanka’s economic recovery shows signs of improvement but challenges remain

By BHARATHA MALLAWARACHI Associated Press COLOMBO, Sri Lanka (AP) — Debt-stricken Sri Lanka, which declared bankruptcy last year, is showing signs of economic improvement but its recovery still faces challenges, the International Monetary Fund said Friday. The Indian Ocean island nation declared bankruptcy in April 2022 and said it was suspending repayment of its foreign

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IMF says Sri Lanka’s economic recovery shows signs of improvement but challenges remain

By BHARATHA MALLAWARACHI Associated Press COLOMBO, Sri Lanka (AP) — Debt-stricken Sri Lanka, which declared bankruptcy last year, is showing signs of economic improvement but its recovery still faces challenges, the International Monetary Fund said Friday. The Indian Ocean island nation declared bankruptcy in April 2022 and said it was suspending repayment of its foreign

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Senate passes debt limit deal to avert default

CNN By Clare Foran, Nicky Robertson and Kristin Wilson, CNN (CNN) — The Senate passed a bill late Thursday evening to suspend the nation’s debt limit through January 1, 2025, averting a first-ever US default just days ahead of the deadline. The House earlier this week already passed the measure, which can now be sent

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US jobs report for May could point to slower hiring as Fed rate hikes cool demand for workers

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — America’s surprisingly resilient job market may have delivered yet another month of solid hiring and pay gains in May, if economists’ forecasts prove to be correct. Still, some signs of cooling could emerge in the government report being released Friday. Analysts have estimated that hiring slowed

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US jobs report for May could point to slower hiring as Fed rate hikes cool demand for workers

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — America’s surprisingly resilient job market may have delivered yet another month of solid hiring and pay gains in May, if economists’ forecasts prove to be correct. Still, some signs of cooling could emerge in the government report being released Friday. Analysts have estimated that hiring slowed

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