Sri Lankan Economic crisis

IMF bailout just beginning of long, more difficult journey: Sri Lankan President Wickremesinghe

Sri Lanka defaulted on its $46 billion foreign debt last April after nearly exhausting its foreign exchange reserves, making it almost impossible for importers to source vital goods.

published on : 22nd March 2023

Debate on Sri Lanka's 22nd constitutional amendment empowering Parliament may be stalled

It is meant to replace the 20A that had given unfettered powers to ex-President Gotabaya Rajapaksa after abolishing the 19th Amendment.

published on : 4th October 2022

Chinese oil giant Sinopec likely to enter Sri Lankan fuel market amid Beijing's debt-trap

Sinopec is already present at the Port of Hambantota where it operates an oil depot.

published on : 8th August 2022

Sri Lanka to hold crucial talks on formation of all-party govt to combat economic meltdown

Sri Lankan President Wickremesinghe invited the political parties to form an all-party government to overcome the current economic crisis as the Parliament reconvened after a seven-day adjournment.

published on : 5th August 2022

International human rights body claim government harassed, intimidated Sri Lankan protesters

New York-based Human Rights body said that Sri Lanka's military sought to curtail protests through intimidation, surveillance, and arbitrary arrests of demonstrators since President Ranil took office.

published on : 4th August 2022

Sri Lanka protest movement reaches 100 days as economic crisis continues

The campaign to oust Rajapaksa, organised mainly through posts on Facebook, Twitter and TikTok, drew people from across Sri Lanka's often unbridgeable ethnic divides.

published on : 17th July 2022

Sri Lankan economic crisis: Indian assistance not 'charitable donations', says PM Wickremesinghe

Sri Lanka's total foreign debt stands at USD 51 billion. The Indian credit lines since January has provided a lifeline to Sri Lanka amidst the worst economic crisis. 

published on : 22nd June 2022

Sri Lankan economic crisis: Army open fire on rioters at fuel station  

As the pump ran out of petrol, motorists began to protest and the situation escalated into a clash with troops, police said

published on : 19th June 2022

Fuel shortage crisis; Sri Lanka to receive last shipments from India in June

The economic crisis has prompted an acute shortage of essential items like food, medicine, cooking gas and other fuel, toilet paper and even matches.

published on : 11th June 2022

China says India made 'great efforts' to help Sri Lanka; South Asia remains its priority

India has rushed about USD 3 billion in assistance in the form of line credit and other modes to help Sri Lanka which has virtually declared insolvency and defaulted on all foreign loans.

published on : 8th June 2022

Lankan PM discusses economic situation with IMF chief as govt looks to bolster nation's reserves

The prime minister explained that negotiations regarding bridging finance were reliant on Sri Lanka and the IMF concluding a staff-level agreement.

published on : 8th June 2022

Australia's tour to give Sri Lanka Cricket a financial boost

Sri Lanka Cricket on Monday said all income from tickets for the three Twenty20s, five one-day internationals and two test matches would be donated to public welfare initiatives.

published on : 6th June 2022

Cash-strapped Sri Lanka gets Russian oil to ease shortages

The Russian crude delivery had been waiting offshore of the capital Colombo's port for over a month as the country was unable to raise USD 75 million to pay for it.

published on : 28th May 2022

Sri Lanka seeks investments from India to help tide over crisis

Sri Lankan Deputy High Commissioner D Venkateshwaran said that the nation is looking for investment from Tamil Nadu and other southern states.

published on : 17th May 2022

Implications of a figurehead PM in troubled Lanka

In what can charitably be called a quirk of democracy, Ranil Wickremesinghe was sworn in as prime minister of Sri Lanka last Thursday.

published on : 16th May 2022

Tamil Nadu to send meds worth Rs 8.87cr to Sri Lanka in first phase

Health Minister Ma Subramanian, on Sunday, inspected the drug warehouse in Chennai which stores essential medicines that the State plans to send to Sri Lanka, in the first phase.

published on : 16th May 2022

TN, Centre should press for referendum in Sri Lanka: Lankan Tamil politician

He sought support from political parties in Tamil Nadu for a referendum in the island nation.

published on : 14th May 2022

No stay on TN’s purchase of rice for distribution to Lanka

The Madras High Court has refused to stay the Tamil Nadu government’s move to purchase 40,000 tonnes of rice for supplying to Sri Lanka to help it tackle the economic crisis.

published on : 13th May 2022

Cricket Australia: Sri Lanka tour still on despite unrest

Australia’s government has advised nationals to reconsider their need to travel to Sri Lanka after unrest followed this week’s resignation of Prime Minister Mahinda Rajapaksa.

published on : 12th May 2022

Sri Lankan President Gotabaya Rajapaksa under fire following imposition of emergency

President Rajapaksa declared a state of emergency with effect from Friday midnight amid growing countrywide anti-government protests over the unprecedented economic crisis.

published on : 7th May 2022
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