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Sri Lanka's prime minister tackles thorny finances, economy

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COLOMBO, Sri Lanka -- Sri Lanka’s new Prime Minister Ranil Wickremesinghe has been sworn in as finance minister as this Indian Ocean island nation confronts its worst economic crisis in memory. President Gotabaya Rajapaksa named Wickremesinghe minister of Finance, Economic Stability and National Policies in an apparent bid to regain Sri Lanka’s credibility as the government negotiates a bailout package with the International Monetary Fund. Sri Lankans have been enduring shortages of food and fuel, power outages and other privations. The country lacks the financial wherewithal to buy imported necessities and pay its debts, and the economic crisis has fueled political turmoil, with protesters demanding Rajapaksa’s resignation. Wickremesinghe's appointment followed a government announcement that Sri Lanka was hiring firms to restructure its $51 billion external debt. Lazard of France will provide financial advice and Clifford Chance LLP will assist with legal help in restructuring S...

El Salvador extends anti-gang emergency for another month

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SAN SALVADOR, El Salvador -- El Salvador’s congress granted a request Wednesday by President Nayib Bukele for a second extension of the country’s anti-gang emergency decree. The vote extends for 30 more days the state of emergency that was originally issued for one month in late March and then extended in April for another month. Bukele’s security minister, Gustavo Villatoro, vowed that the government’s “war” on gangs will continue, even though the homicide rate has dropped sharply. “This war is going to continue for as long as necessary and to the extent that the public continues to demand it,” Villatoro said. “We are going to continue to confront this cancer, and we have said it before and we stand by it, this war will continue until the gangs are eradicated from the territory of El Salvador.” The measure was approved with 67 votes in the 84-seat congress, where Bukele’s party holds a majority. Recent Stories from ABC NewsTop Articles READ MORE Firefighters rescue 'Cinder' t...

In Cuba, caution and confusion meet eased US sanctions

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HAVANA -- Marylín Álvarez seemed to be just the sort of person that eased American sanctions on Cuba were meant to help. With the aid of money sent by a cousin living in the United States, she began transforming the entrance to her ground-floor apartment into a tiny cafe about four years ago. It was one of myriad small private businesses blossoming on the Communist-led island as U.S. President Barack Obama's opening to Cuba led to more money and visitors from the north. She bought a freezer, a juicer and some cups. She installed a new water faucet and was about to add a sink to go with it, as well as chairs and ingredients for the food she was going to sell at her doorway in Havana. And then it all fell apart. Former President Donald Trump tightened the six-decade-old embargo of Cuba and sharply restricted money transfers to Cuba in late 2020, shutting down the system that made them relatively easy: Western Union transfers to a government-owned Cuban exchange house. Álvarez aband...

Chinese premier congratulates Australian leader on election

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CANBERRA, Australia -- Chinese Premier Li Keqiang wrote to congratulate Australian Prime Minister Anthony Albanese on his election victory, which some Australian media reported on Tuesday was a thawing of bilateral relations that Beijing put into deep freeze more than two years ago. Chinese ministers had refused to return phone calls of their Australian counterparts under former Prime Minister Scott Morrison’s conservative administration. Albanese and Foreign Minister Penny Wong were sworn in Monday, then immediately flew to Tokyo for a summit with U.S., Japanese and Indian leaders after Australia’s center-left Labor Party narrowly won an election Saturday. Li told Albanese: “The sound and stable development of the Sino-Australian relationship conforms to the fundamental interests and common aspirations of the two peoples and is also conducive to peace, stability, development and prosperity in the Asia-Pacific region,” China Daily reported. “China stands ready to work with Australia...