Sri Lanka economic crisis

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.

published on : 6th August 2022

India won't go the Pakistan, Sri Lanka way: Ex RBI Governor Raghuram Rajan

According to Rajan, low foreign debt and high foreign exchange reserves make Indian economy resilient.

published on : 30th July 2022

Rajapaksa sends resignation letter to Sri Lanka Speaker; formal announcement on Friday

Speaker's media secretary Indunil Abeywardena said a resignation letter from President Rajapaksa has been received through the Sri Lanka High Commission in Singapore.

published on : 14th July 2022

'Don't fall ill': Sri Lanka doctors warn of drug shortage

Hospitals lack drugs for rabies, epilepsy and sexually transmitted diseases while labs don't have enough of the reagents needed to run full blood count tests.

published on : 13th July 2022

Sri Lankan protesters hold mock Cabinet meeting; China asks its nationals not to take part in stir

The public flocked to the Presidential Secretariat, President's House and Temple Trees, the official residence of the prime minister after they were taken over by protestors on Saturday.

published on : 11th July 2022

EXPLAINER | Why Sri Lanka's economy collapsed and what's next for the island nation

Short of cash to pay for imports of such necessities and already defaulting on its debt, it is seeking help from neighbouring India and China and from the International Monetary Fund.

published on : 10th July 2022

EXPLAINER | Why Sri Lanka's economy collapsed and what's next for crisis-hit nation? 

President Gotabaya Rajapaksa agreed to resign amid mounting pressure from protesters who stormed both their residences and set fire to one of them.

published on : 10th July 2022

Sri Lanka plunges into chaos

President Gotabaya flees, PM Ranil offers to step down to pave way for an all-party government.

published on : 10th July 2022

Sri Lanka PM says willing to step down for unity government, calls emergency meeting

Amid the ongoing economic crisis and shortage of fuel and gas, Sri Lanka's Church of Ceylon has called on Gotabaya Rajapaksa and Ranil Wickremesinghe to immediately resign.

published on : 9th July 2022

Sri Lankan economic crisis: Over six million face food insecurity due to record inflation, reports UN body

The economic crisis will push families into hunger and poverty - some for the first time - adding to the half a million people who the World Bank estimates have fallen below the poverty line.

published on : 7th July 2022

Sri Lanka economic crisis: Schools remain shut as fuel shortage worsens in island nation 

The available fuel stocks, sufficient for only several days, will be provided for essential services, including health and port workers, public transport, and food distribution, officials said.

published on : 4th July 2022

Sri Lanka to get two fuel consignments in July: Lanka IOC

Fuel shortages have led to serpentine queues at retailers and with the end of the credit line worth USD 700 million granted by India, the pumps have run dry.

published on : 2nd July 2022

Sri Lanka: Bunker licence holders to import and supply jet fuel on immediate basis

Despite the immediate approval to import and supply jet fuel, it's likely to take another 10-12 days for the bunker licence holders to bring in the first jet fuel shipment to the country.

published on : 30th June 2022

Indian delegation led by Foreign Secretary Kwatra arrive in Sri Lanka to assess economic crisis

The Indian team are here to engage with Sri Lankan Prime Minister Ranil Wickremesinghe while also having talks with President Gotabaya Rajapaksa and other senior officials.

published on : 23rd June 2022

Sri Lanka bets on 'casino king' Dhammika Perera to revive wrecked economy

Perera a long-time loyalist of the Rajapaksa clan, whom protesters accused of mismanaging the country into its current predicament has replaced Basil Rajapaksa, who resigned in April.

published on : 22nd June 2022

Sri Lanka crisis: Protestors block presidential secretariat entrances, 21 arrested

The protesters were demanding the resignation of President Gotabaya Rajapaksa for the mismanagement of the economy.

published on : 20th June 2022

Sri Lanka's agriculture minister forced to flee premises after being jeered by farmers: Report

Mahinda Amaraweera visited the Tissamaharama Divisional Secretariat on Saturday to attend an agriculture-related programme.

published on : 18th June 2022

Sri Lanka could have gone to IMF and started debt resettlement sooner: Central Bank Governor

The foreign lender has a policy of not bailing out countries unless all its other creditors have first agreed to write down their loans, however, Sri Lanka's foreign debt stands at USD 51 billion.

published on : 17th June 2022

Sri Lankan PM Wickremesinghe to present plan for economic recovery as country awaits Indian nod for new credit line

The prime minister met with Members of Parliament to brief them on the current economic situation.

published on : 17th June 2022

Sri Lanka schools, government offices to shut as transport grinds to halt

"Due to scarce public transport as well as the inability to arrange private vehicles, it is decided to drastically curtail the number of employees reporting to work," the ministry's order said.

published on : 17th June 2022
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