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Chrystia Freeland - Russia one of the ‘biggest threats’ to world economy amid recession fears: Freeland - globalnews.ca - Canada - area District Of Columbia - Russia - Washington, area District Of Columbia - Ukraine
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Russia one of the ‘biggest threats’ to world economy amid recession fears: Freeland
Russia’s war in Ukraine is proving to be “one of the biggest threats” to the world economy at the moment, according to Deputy Prime Minister Chrystia Freeland.Freeland, who also serves as Canada’s finance minister, made the comments to reporters in Washington, D.C., on Friday following the annual meetings of the World Bank Group and International Monetary Fund (IMF), which put out a stark world economic outlook earlier this week.“One of the biggest threats, not only to the lives of Ukrainians right now, not only to the sanctity of the international rules-based order, but also to the world economy today is Russia’s invasion of Ukraine,” Freeland said.“There’s one simple thing that could happen that would make the global economy much more secure, and that is for Russia to get out of Ukraine.” As IMF warns of economic slowdown, Canada’s labour market could be critical buffer The IMF cited the war in Ukraine on Tuesday as one of the drivers for cutting its global growth forecast for 2023. High energy and food prices, inflation and sharply higher interest rates, also factored in to the IMF’s report, which indicated a third of the world economy will likely contract by next year.Russia’s war in Ukraine has been raging for close to eight months since the wide-scale invasion began on Feb.
Aeroflot flies back to Sri Lanka after grounded aircraft controversy - newsfirst.lk - India - Sri Lanka - Britain - Ireland - Russia - city London
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Aeroflot flies back to Sri Lanka after grounded aircraft controversy
COLOMBO (News 1st) –  Following controversy over grounded aircraft by its government, Russia's Aeroflot resumed services to Sri Lanka on Monday (10).With the arrival of an Aeroflot Flight on Monday (10) to the Katunayake International Airpor the Moscow-Colombo route will be reinstated, on conditions being promised by the Sri Lankan government that none of its planes will be grounded or arrested.On 2nd June 2022, SU289, A330-343 aircraft was scheduled to depart from Colombo to Moscow with 191 passengers and 13 crew members, but it was not allowed, as the owner of the aircraft – Celestial Aviation of Ireland had filed a case against the airline, for a pending arbitration on the lease of the aircraft in London.Following the legal dispute, Aeroflot also announced that it was suspending commercial flights between Colombo and Moscow.Aeroflot is the oldest international airline that operated flights to Colombo, and it has been operating the Moscow-Colombo route since 1964.Russia remains the third largest tourism source market year-to-date with 51,300 arrivals, behind India and UK.The Embassy of Sri Lanka in Moscow in September announced that Aeroflot, the national carrier of the Russian Federation, will resume flight operations to Sri Lanka with effect from the 09th October 2022.The Embassy of Sri Lanka in Moscow in consultation with the Government of Sri Lanka played a pivotal role by making a diplomatic representation with the Government of the Russian Federation in order to resume Aeroflot’s flights on this route.Given that the Russian Federation could be regarded as an important tourist traffic source to Sri Lanka at this trying time, the Embassy was of the view that this flight resumption will be of vital importance to Sri
140 organizations worldwide ask IMF to issue $650 bn to help poor nations - newsfirst.lk - Usa - Sri Lanka - Russia - Argentina - Ukraine
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140 organizations worldwide ask IMF to issue $650 bn to help poor nations
COLOMBO (News 1st) – About 140 organizations worldwide asked the International Monetary Fund to issue at least $650 billion more in reserves to help its member nations grapple with “multiple historic, overlapping, and generally worsening crises.”Allocating more IMF reserve assets known as special drawing rights, or SDRs, “would immediately make hundreds of billions of dollars available to nearly all low- and middle-income IMF member countries without debt or conditions and only requires political will on the part of the fund’s board” the organizations said in a letter to the IMF’s board of governors and its executive board Thursday.Pressure is mounting on the IMF to act as the world’s most financially fragile countries, from Argentina to Ukraine, have burned through the extra IMF reserves they got last year, raising calls for a fresh injection to help them weather higher interest rates, food and fuel costs. In July, key Democratic congressional allies urged President Joe Biden’s administration to support a new injection of resources for countries at the IMF to help them deal with the fallout from Russia’s invasion of Ukraine.With 345 million people facing acute food insecurity — more than double the number in 2019 — and rising interest rates making it more expensive for nations to pay back their dollar-denominated debt as the greenback strengthens, mass anger is triggering instability in many countries and has even led to the ouster of leaders in nations such as Sri Lanka.Signatories to the Thursday letter include the International Chamber of Commerce and the AFL-CIO, the largest US labor federation.
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