International Monetary Fund managing director Kristalina Georgieva confirms that Zambia, the first African nation to default following the COVID-19 pandemic, has agreed to a debt agreement with foreign creditors concerning US$6.3 billion of its debt. 2023-10-12
The government's furlough scheme ends in the United Kingdom after 18 months. Almost a million people are reported to still be on furlough from their employer. 2021-09-30
Sri Lanka's GDP contracts 3.6% in 2020, its worst economic performance since gaining independence in 1948. 2021-04-30
Talks between rail workers and ScotRail aimed at preventing a strike collapse, as the rail firm cites financial pressures caused by the ongoing pandemic to justify refusing a pay raise and revocation of some day-off entitlements. The Unite union rejects this explanation. The Scottish Government and Transport Scotland are appraised of the situation. 2021-04-13
The Brazilian economy officially enters a recession after the country's statistics institute reported a 9.7% decline of its gross domestic product (GDP) in the second quarter, which is the second consecutive quarter of a decline in its GDP. It is Brazil's largest quarterly drop since 1996. 2020-09-1
The S&P Global Ratings downgrades Lebanon's credit rating for its external debt to "selective default" (SD), following defaults due to the resignation of the government in the aftermath of the August 4 explosion in Beirut and the implementation of a two-week lockdown from August 18 following a surge in infections. 2020-08-21