From the $800 million in surplus, the balance of payment recorded a deficit of $2.03 billion in the same period this year

The crisis has also rocked the country’s political leadership as they face nationwide protests seeking the resignation of President Gotabaya Rajapaksa—a demand the government has refused to entertain

Once known as a power-starved country, Nepal became a power surplus state last year during the winter months, with its production capacity touching 2000 MW after the commencement of the Upper Tamakoshi hydropower project (456MW)

Fueled by record import bills due to global high fuel and commodities prices, the trade deficit is expected to touch $45 billion this year by June, surpassing the earlier record of $37.7 billion in FY18

Given India’s pivotal role in the Biden administration’s Indo-Pacific strategy and its attempts to curtail China’s influence, Washington has generally been supportive of India despite its neutrality on the Russian invasion of Ukraine and its purchases from Russia

Terming the signing of the pact as another milestone in the growing relationship between India and Australia, Morrison said the agreement further develops on the promise of the burgeoning relationship between the two Indo-Pacific countries that are members of Quad

“Since 2020, the World Bank has provided over $3 billion to Bangladesh to support emergency response, vaccination, and other Covid-19 recovery efforts,” Mercy Tembon, World Bank country director for Bangladesh and Bhutan, was quoted as saying by Dhaka Tribune

India was quick to offer grants on the condition  that projects would be developed by Indian firms—an offer Colombo eventually accepted

In February, the country’s foreign exchange reserves dropped to $2.31 billion, with the authorities struggling to pay for the imports of essentials like fuel, food, and medicine

The Bengaluru-based firm, which offers online education catering to all age groups, also sponsors the Indian cricket team and said the deal was its first major foray into soccer

In the last few days, at least three people have reportedly died while standing in these long queues due to exhaustion; another man was killed after a brawl over fuel, according to a report by Daily Mirror

Bangladesh achieved the enviable target of electrifying every house in the country, Prime Minister Sheikh Hasina announced on Monday, almost 13 years after the government launched an ambitious rural electrification program

Given the meager oil dependency on Russia and India’s past experience to tackle global oil price shocks, the Russia-Ukraine conflict is unlikely to cause any major impact on the economy, writes S. Majumder for South Asia Monitor

Over ten million poor people in Bangladesh will receive subsidized food as the government is all set to implement an ambitious scheme aiming to provide relief to poor people being affected by skyrocketing commodities prices

Sri Lanka’s crippling energy crisis is expected to ease in the coming days as India extended a $1 billion line of credit, bringing total assistance to Colombo around $2.4 billion since January this year