Lankan economic woes to last another year; nuclear energy, logistics could revive condition: Prez Ranil
Wickremesinghe, who has previously described Sri Lanka's economy as bankrupt, said that economic reforms would require higher taxation.
The Sri Lankan police on Wednesday set an August 5 deadline for the protesters to remove all illegal tents and camps at Galle Face near the presidential office.
Sri Lanka needs about USD 5 billion in the next six months to cover basic necessities for its people, who have been struggling with long queues, worsening shortages and power cuts.
He has moved quickly to consolidate his position since lawmakers elected him this week to finish the term of his predecessor, ousted President Gotabaya Rajapaksa.
Amid the economic crisis in Sri Lanka, the Tamil Nadu government on Saturday sent its third consignment of humanitarian assistance, weighing 16,595 metric tonnes, to the island nation.
Some things are obvious. The ‘landslide’ electoral victory registered a couple of years ago could not help the Rajapaksas remain in office.
"For when the One Great Scorer comes to mark against your name, He writes not that you won or lost, but how you played the game," he says, quoting the American sportswriter Grantland Rice.
Sri Lanka crisis: India, China extend olive branches to the island nation; citizens feel brunt of fuel shortage
Under its ‘Neighbourhood First’ policy, India has extended support to the island nation by giving short-term and long-term loans.
'Worried turbulence in Sri Lanka may continue': Chidambaram on Wickremesinghe's election as President
Veteran politician Wickremesinghe was on Wednesday elected as Sri Lanka's president by lawmakers, in a rare move that could provide continuity for crucial discussions with the IMF for a bailout deal.
Wickremesinghe, a six-time former prime minister, was elected as Sri Lanka's President by lawmakers in a rare move that could provide continuity for crucial discussions with the IMF.
Despite former president Gotabaya Rajapaksa fleeing the country following massive protests, his ruling party managed to get his proxy Wickremesinghe elected as successor.
Sources say since Ranil Wickremesinghe is viewed as a friend of India, there is every possibility of INR trading getting the go-ahead.
Many also blame Wickremesinghe for protecting Rajapaksa, and during demonstrations last week, crowds set his personal residence on fire and occupied his office.
Irrespective of who becomes next Sri Lankan President, India should keep helping Lanka: Opposition leader Premadasa
Premadasa's appeal came hours after the Modi government told an all-party meeting in New Delhi that India is naturally worried over the Sri Lankan crisis.
Indian official injured in crisis-hit Sri Lanka, High Commission urges citizens to make movements safely
Sri Lanka is witnessing a public unrest due to the unprecedented economic crisis followed by a political turmoil in the country.
Majority of Sri Lanka's ruling party in favour of Alahapperuma as President, Premadasa as PM: Report
SLPP Chairman Peiris said that the majority of his party was in favour of appointing Alahapperuma as the President, underlining that the people's voice be highlighted in Parliament.
Several Opposition-ruled states, including Tamil Nadu, Telangana and Andhra Pradesh were called out for spending more than their earnings and their poor debt-to-GDP ratio.
Finance ministry makes presentation on states' fiscal health at all-party meet, regional parties object
The presentation said that some states have large outstanding guarantees which could pose a threat if invoked.
Jaishankar also said there have seen some "misinformed comparisons" in the context of Sri Lanka wherein some people have asked whether "can such a situation happen in India."
Sri Lanka is facing its worst economic crisis in seven decades, with a severe foreign exchange shortage hampering the import of essentials including food, fuel and medicines.