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Business Matters: Sri Lanka faces its worst economic crisis in over 70 years.

Sri lanka done.jpg

14/04/2022 GMT

Sri Lanka faces its worst economic crisis in over 70 years.

BBC World Service - Business Matters, Sri Lanka faces its worst economic crisis in over 70 years.

Sri Lanka says it will temporarily default on its foreign debt

Sri Lanka is due to start negotiations with the International Monetary Fund next week and its just emerged that India, its northern neighbour, may be willing to commit up to another $2bn in financial assistance, along with food and fuel aid. 

Also in the programme, a court in Jersey has now seized 7 billion US dollars worth of assets linked to the Russian billionaire Roman Abramovich. He is on the UK and EU sanctions list, and is now unable to access items such as his yachts, or Chelsea Football Club. So, what does this step from Jersey mean for the Mr Abramovich? Justine Walker is Global Head of Sanctions Compliance and Risk at ACAMS - that's the Association of certified anti-money laundering specialists.

Plus, Russia is suffering brain drain, with some suggesting that tens of thousands of tech workers are leaving the country after sanctions have made business difficult - or impossible; we hear from Artem Taganov, founder and chief executive of a Russian start-up called HintEd - he's moved to Armenia from Moscow. 

And, we take you to take you to Africa's smallest economy. São Tomé and Príncipe, the twin island nation in the Gulf of Guinea in Central Africa. We hear from two entrepreneurs, who are trying to make a career in their home.


(Picture description: Protests outside the President's office in Columbo. Picture credit: Ishara.S.Kodikara via Getty Images).

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