World News
Sri Lanka on the verge of bankruptcy as inflation rises to record levels: Report
Sri Lanka is facing a deepening financial and humanitarian crisis that could lead to its bankruptcy in 2022 as inflation rises to record levels, a media report said.
Earlier, on August 30 last year, the Sri Lanka government declared a national fiscal emergency after a sharp depreciation of the country’s currency caused food prices to soar.
Suhail Guptil wrote in the Colombo Communiqué that for most of the past decade, Sri Lanka has been facing a double deficit, namely a fiscal deficit and a trade deficit. Since 2014, Sri Lanka external debt level has been on an upward trend, reaching 42.6% of GDP in 2019.
Guptil explained that the country’s accumulated external debt in 2019 was estimated at USD 33 billion, placing a huge burden on the country’s debt service.
Sri Lanka’s credit rating has since been downgraded to B from C by a number of credit rating agencies including Standard & Poor’s, Moody’s and Fitch, making it difficult to obtain funding through international sovereign bonds (ISBs), Guptil said.
Sri Lanka’s financial crisis was mainly caused by low growth rates (currently 4%) and huge debt service obligations, and the situation is getting worse.
As of November 2021, available foreign exchange reserves were only US$1.6 billion, while over the next 12 months, the Sri Lankan government and private sector will have to repay about US$7.3 billion in domestic and foreign loans, including US$500 million in international loans. Sovereign bonds to be repaid in January 2022, report says
Complete News Source : Hindustan Times
As Jennifer Lopez navigates her separation from Ben Affleck, she prioritizes her career, notably in the film Unstoppable.
Jennifer Lopez has “let go of her ego” to prioritise her career and personal growth as she navigates her separation from Ben Affleck.
The 55-year-old actress and singer, during an interview with Amazon/MGM, opened up about working on the upcoming film Unstoppable, a project she co-starred in while estranged from her husband.
“It was an honour to be a part of Anthony [Robles] and to play Judy,” Jennifer shared. “I approached the role with a complete lack of ego where you have to go in there and have so much respect for the person you are playing because it’s her story.”
“I disappeared, there was no Jennifer, no J. Lo. That person on the screen is just Judy. Luckily, I got to spend time with her and see who she was alone and as a mother.”
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Affleck praises Lopez’s ‘spectacular’ performance
Affleck and Matt Damon produced the film, which tells the inspiring story of 36-year-old wrestler Anthony Robles.
JLo portrays Judy Robles, Anthony’s mother. Affleck also highly praised Jennifer’s performance, calling her “spectacular.”
“Unstoppable is a very different movie than [Small Things Like These], but in a way it’s similarly rooted in the passion of really talented artists,” Ben told Entertainment Toninght just couple of weeks back. “Billy Goldenberg and Jennifer and Don Cheadle and Jharrel and Bobby Cannavale – all of whom were really passionate about this film.”
After reuniting and marrying in 2022, Jennifer filed for divorce in August 2024. Reports of marital struggles, including living separately, surfaced months before the filing.
“He’s focusing on his work and his kids now,” an insider told InTouch Weekly. “Ben already moved out … They’ll never stop loving each other, but she can’t control him, and he can’t change her.”
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Jennifer told Interview Magazine, “I was thinking about this time in my life, and I’m like, ‘That’s not what I thought it was going to turn out like.’ And then I thought, ‘No, this is exactly where I needed to be.’”
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