war

Sri Lanka is preparing for new economic challenges as the war against Iran continues

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A series of petrol stations in Kandy, Sri Lanka [Ashkar Thasleem/ Al Jazeera]

Kandy, Sri Lanka On a sunny March day in the hill town of Kandy in central Sri Lanka, Keerthi Rathna waited in a snaking line to buy her share of petrol for her three-wheeled tuk-tuk. The amount he was allocated by the government was 20 liters (about 5 liters) per week. In the past, Rathna … Read more

Mark Zandi warns that the recession is approaching 50%, and the war with Iran could put us in economic trouble by the middle of the year | Good luck

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Mark Zandi warns that the recession is approaching 50%, and the war with Iran could put us in economic trouble by the middle of the year | Good luck

Economists are growing more cautious about the economic situation as the conflict in Iran continues. Moody’s Analytics raised its recession outlook for the next 12 months to 48.6%, in line with Goldman Sachs, which now predicts a 30% risk of recession, and EY-Parthenon, which puts the chances of a recession at 40%. The underlying probability … Read more