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Jaishankar, who is here on a two-day visit, called on President Ranil Wickremesinghe on Friday morning and also held talks with Foreign Minister Ali Sabry.
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Any stimulus package announced prematurely might lead to short-term optimism, before fading into the background in the ongoing chaos.
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In July last year, the International Monetary Fund's (IMF) Executive Board "approved a 39-month extended arrangement" under the Extended Fund Facility (EFF) for Pakistan for USD 6 billion to support its economic reform programme.
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The government on Monday approved the bailout package for the Pakistan International Airlines (PIA) to keep it afloat for the next two months, the Express Tribune reported.
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Yesterday, European officials stunned Cypriots (and many others) by announcing a rescue package for their country that involves a levy on ALL bank deposits.
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Even as Cyprus's President Nicos Anastasiades addressed the nation on Sunday night, saying savers would be compensated by shares in banks guaranteed by future natural gas revenues, he was said to be working to renegotiate terms of the highly criticized bailout deal.
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Nick Parsons of National Australia Bank explains to CNBC-TV18, in his analysis of the euro-zone crisis, that Spanish Prime Minister Mariano Rajoy is desperately hoping that solution will emerge and save him from the pressures of the regional elections in his birthplace of Galicia and accepting the bailout package at the EU summit in Brussels
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Stephane Deo, global head- asset allocation, UBS Investment Bank elucidates to CNBC-TV18 that regional polls in Spain in October has caused the government to stall accepting the bailout package as that would imply a failure of policy. Deo adds there would enough liquidity to trickle down even after the Fed‘s purchase of mortgage-backed securities
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Years of populism, corruption and mismanagement have driven the power distributors, most of them state-owned, deep into the red. They had accumulated Rs 92,600 crore in losses by the end of the 2010-11, according to government data.
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CNBC-TV18‘s economic policy editor Siddharth Zarabi has learnt that the governemnt may be mulling a comprehensive bailout package for power distribution companies (discoms).
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As news of the European tremors trickle in, David Buick, partner, BGC explains to CNBC-TV18 from the ground about the situation across Europe. Though Spain had lit hopes last week, Buick said, the IMF‘s desperate scramble for a bailout package along with China and the US refusal to contribute beyond a limit has rattled investors‘ sentiments
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Greece averted on Friday the immediate risk of an uncontrolled default, winning strong acceptance from its private creditors for a bond swap deal which will ease its massive public debt and clear the way for a new international bailout.
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Chief negotiators for Greece's private creditors left Athens on Saturday without a deal on a debt swap plan that is vital to avert a chaotic default.
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Indian markets are up 3% today. One the reasons for this rally are a spurt in European markets. Trevor Williams, chief economist at Lloyds TSB tells CNBC-TV18 that it could be mainly due to improving sentiment regarding the economic situation of the nations in the euro zone.
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The ball is definitely in Greece's court as the referendum on bailout package and Prime Minister Papandreou's vote of confidence at the parliament has global markets glued to newsflow from there. Moneycontrol.com puts together a weekly wrap of what all happened over the week ended November 4, 2011. Check out!
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Greece has returned to haunt investors yet again. Greece's call for a referendum on the bailout package spooked global markets and India was no different.
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Christopher Palmer, Henderson Global Investors joins CNBC-TV18 to give his perspective on the situation in Europe.
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Greece hopes talks with banks on a bond swap will progress fast enough to send a detailed offer spelling out its accounting impact in mid-August.
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The past week has been an eventful one for India Inc and the world. Policy decisions have come through towards the end of the week, in India and globally, but terror struck again.
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Hans Goetti, CIO (Asia), Finaport tells CNBC-TV18 that there is no doubt that the debt ceiling will be raised. “Also, we are most likely to see some kind of quantitative easing by the US Fed,” he says.
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The European Union is racing to draft a second bailout package for Greece to release vital loans next month and avert the risk of the euro zone country defaulting, EU officials said on Monday.
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Sarah Hewin, Head of Research-Europe at Standard Chartered Bank, in an interview with CNBC-TV18's Menaka Doshi, discuss implications of the bailout package, whether that number will be enough and what it means for the peripheral countries in the EU.
