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World economy looks gloomy: World Bank and IMF

The conclusion of the recent meeting between International Monetary Fund and World Bank painted a gloomy picture of the world economy. The feeling of shock was quite apparent throughout without any trace of optimism.  Ineffective world governance, especially among developed countries, could be one of the reasons for failures. US economic conditions keep forcing Federal Reserve to hike up rates causing US dollar to rise above expected levels. Other economies walk on the footsteps of their big brothers, lest their currency may crash.  Some of the middle-to-lower income nations, are buried under heavy loans, unable to clear their debts. Can IMF and World Bank rescue the world from such crisis, if they had more power and resources? Will the "Superpowers" pay heed to what is being expected from them, or will they continue with their rhythm on which their existence depends?  Geopolitical  issues are taking a brisk walk, with US warning OPEC for cutting oil production, whil...

Millions skipping meals in Sri Lanka, as inflation hits over 57%

(Source of Images: Google Search from different reported news on Sri Lanka Crisis) Millions of families in Sri Lanka are struggling to meet their daily food requirements. Most of them are skipping meals, perhaps, surviving on just a meal a day. Even children have not been spared and are suffering due to the lack of basic resources including food and education. The United Nations reports (based on assessment by World Food Programme (WFP)), more than a quarter of the country's 22 million people (around 6.26 million) are grappling with food crisis, unable to procure basic nutritious food.  The country is witnessing a record 90% food inflation, turning basic food such as rice unaffordable for the common people of the nation. Staggering inflation and skyrocketing oil and commodity prices have crippled the whole nation.  WFP reports, about 61% of households is using coping strategies, i.e., reducing amount of food they eat and consuming increasingly less nutritious meals. Adults in ...