Sri Lanka’s new President Anura Kumara Dissanayake said Wednesday that he will soon resume discussions with the International Monetary Fund and foreign creditors to plot a way out of the worst economic crisis in the country’s history, the Associated Press reported. “We expect to discuss debt restructuring with the relevant parties and complete the process quickly and obtain the funds.,” he said. The future of the economic recovery plan drafted by former liberal President Ranil Wickremesinghe was called into question after Dissanayake, a Marxist, won the presidential election on Saturday.

First it was the central bank. Now China's top political leaders are pledging to shore up the country's moribund economy and, in particular, its battered property sector, The Wall Street Journal reported. Here's how markets reacted to the Politburo's intervention. In New York, the Nasdaq Golden Dragon Index jumped nearly 10%. U.S.-listed Chinese stocks such as Alibaba, JD.com and PDD surged. Yum China, which operates KFC in the country, rocketed 17% higher. Hong Kong's Hang Seng Index advanced 4.2%, notching its highest close since August 2023.

China’s leaders have been drip-feeding support into their ailing economy for three years. This week, they jacked up the dose, according to an analysis in The Wall Street Journal. A major injection of stimulus from the central bank — and promises of more government support from the Communist Party’s top decision-making body — mark the beginning of a more muscular approach from Beijing to righting the economy after months of hesitancy, economists say.

China's central bank on Tuesday unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk and back towards the government's growth target, but analysts warned more fiscal help was vital to hit these goals, Reuters reported. The broader-than-expected package offering more funding and interest rate cuts marks the latest attempt by policymakers to restore confidence in the world's second-largest economy after a slew of disappointing data raised concerns of a prolonged structural slowdown.