Category: World
World Growth Holds Up, but Real Interest Rates Rise: Fitch Ratings
World growth is holding up well in the face of the energy price shock, but real interest rates are rising, Fitch Ratings says in its latest Global Economic Outlook. Fitch has raised its forecast for global GDP growth in 2026 by 0.2pp to 2.6%, down only marginally from 2025 and close to the long-run trend. […]
VIDEO: Trump Signs Russia Sanctions Law, Paving Way For 100% US Tariffs On Buyers Of Russian Oil
US President Donald Trump has signed a new Russia sanctions law that authorises Washington to impose tariffs of up to 100% on countries buying Russian oil and gas, with duties to be levied within 30 days on the top five importers and on new buyers after the law kicks in. The bill targets Russia’s energy […]
Foreign Minister Vijitha Herath to Undertake Official Visit to Thailand
Minister of Foreign Affairs, Foreign Employment & Tourism Vijitha Herath will undertake an official visit to Thailand from 14 to 16 September 2026, at the invitation of the Minister of Labour of Thailand. During the visit, Minister Herath will hold discussions with the Minister of Labour, Minister of Tourism and Acting Minister of Foreign Affairs […]
SL appeals to Human Rights High Commissioner to conclude country-specific mandates where national processes demonstrate progress
Addressing the 63rd Session of the United Nations Human Rights Council in Geneva on 08 September 2026 during the General Debate under the Agenda Item 2, Permanent Representative of Sri Lanka to the United Nations in Geneva, Ambassador Sumith Dassanayake emphasized that no Council mandate should be regarded as indefinite. The written update on human […]
US Effective Tariff Rate Falls to 7.4% on Latest Tariffs and Changing Trade Flows: Fitch Ratings
The U.S. effective tariff rate (ETR) has declined to 7.4% from 9.4% after the U.S. replaced the temporary Section 122 surcharge with new Section 301 tariffs on imports from 60 economies, including the EU. The revised estimate also reflects Fitch Ratings’ use of annualized January-May 2026 trade flows instead of the 2024 import data used […]
We will help countries build greater energy, food, trade & economic resilience: Joint Statement by IEA, IMF, WB Group & WTO
The Heads of the International Energy Agency (IEA), International Monetary Fund (IMF), World Bank Group (WBG), and World Trade Organization (WTO) met on July 7 as part of the high-level coordination group established in April to maximize their institutions’ response to the energy, trade, and economic impact of the war in the Middle East. Following […]
El Niño Raises Global Economic Disruption Risks for Weaker Sovereigns
The formation of an El Niño weather phenomenon that is set to persist into early 2027 raises the risk of economic disruption in a range of sovereigns, says Fitch Ratings. Fitch is unlikely to link rating actions directly to El Niño unless the effects are clearly reflected in credit metrics, but related environmental stresses could […]
Fitch Changes Global Sovereigns Sector Outlook to ‘Deteriorating’ on Iran War Impact
Fitch Ratings has changed its 2026 global sovereign sector outlook to ‘deteriorating’ from ‘neutral’ because of the impact of the US-Iran war. We expect the conflict will weaken GDP growth, raise inflation and bond yields, and heighten geopolitical risks. However, recent resilience of the global economy and financing conditions temper risks. We have changed five […]
Oil Crisis Hits World Growth Outlook as Forecasts Revised Down: Fitch Ratings
World growth prospects have been hurt by the oil crisis prompted by the US-Iran war, Fitch Ratings says in its latest Global Economic Outlook (GEO). This has led to Fitch lowering its 2026 forecast for global growth by 0.2pp to 2.4%. Forecast cuts have been widespread as higher inflation squeezes real wages, dampens consumption and […]
Oil Market Will Return to Oversupply Once Hormuz Reopens: Fitch Ratings
The Hormuz strait closure created a logistical supply shock but does not alter the direction of the market, Fitch Ratings says in a new report. A rapid production recovery in the region, strong non-OPEC growth and potentially more aggressive OPEC policy are likely to re-establish oversupply in 4Q26 and drive prices lower once the strait […]
Joint Statement by the Heads of International Energy Agency, IMF, World Bank Group & WTO
Washington – May 29, 2026: The Heads of the International Energy Agency, International Monetary Fund, World Bank Group and World Trade Organization met on May 28 as part of the high-level coordination group established in April to maximize their institutions’ response to the energy, trade, and economic impacts of the war in the Middle East. Following […]
President of Viet Nam and General Secretary of Viet Nam Communist Party to undertake a State Visit to Sri Lanka
The President of the Socialist Republic of Viet Nam and the General Secretary of the Communist Party of Viet Nam, Tô Lâm will undertake a State Visit to Sri Lanka from 07-08 May 2026. The visit takes place at the invitation of President Anura Kumara Disanayaka following his State Visit to Viet Nam in 2025 to commemorate […]