NBU Declares BANK SICH JSC Insolvent

The Board of the National Bank of Ukraine has declared BANK SICH JSC insolvent for failure to discharge its liabilities to the NBU within the period prescribed in the refinancing loan agreement due to the lack of funding. BANK SICH JSC failed to pay interest on refinancing loans for July 2022 in violations of terms and conditions…

Sri Lanka is ‘bankrupt,’ says Prime Minister Ranil Wickremesinghe

Colombo, Sri Lanka CNN  —  Sri Lanka is “bankrupt,” Prime Minister Ranil Wickremesinghe said Tuesday, as the country suffers its worst financial crisis in decades, leaving millions struggling to buy food, medicine and fuel. Wickremesinghe told lawmakers that negotiations with the International Monetary Fund (IMF) to revive the country’s “collapsed” economy are “difficult,” because the…