Economic Crisis

Economic Crisis News

Sri Lanka: IMF team holds talks with Prime Minister Ranil Wickremesinghe
World

Sri Lanka: IMF team holds talks with Prime Minister Ranil Wickremesinghe

The IMF team is visiting Colombo during 20-30 June to continue discussions on an economic programme that could be supported by an IMF lending arrangement, building on the progress made during the 9-24 May virtual mission

US and UN envoys urge Sri Lanka's security forces to understand people's frustration; not to use excessive force
World

US and UN envoys urge Sri Lanka's security forces to understand people's frustration; not to use excessive force

The appeal from the two envoys came a day after a clash broke out between people and army personnel in a queue for fuel in Vishvamadu, Mullaitivu

Sri Lanka seeks India's support for troubled agricultural sector
World

Sri Lanka seeks India's support for troubled agricultural sector

Due to economic and political turmoil, large-scale protests have been taking place for months in Sri Lanka, leading to the ouster of former Prime Minister Mahinda Rajapaksa

Sri Lanka's Cabinet approves proposal to amend Acts to increase state revenue
World

Sri Lanka's Cabinet approves proposal to amend Acts to increase state revenue

In the last meeting, the IMF assured to help Sri Lanka with an amount of USD 300 million to USD 600 million

In fresh clashes, Sri Lankan police tear gas student protesters
World

In fresh clashes, Sri Lankan police tear gas student protesters

Anti-riot squads used water cannons as furious protesters pulled down barricades across a road leading to President Gotabaya Rajapaksa's official residence

Sri Lanka crisis: India and Japan to provide relief supplies worth millions as threat of severe food shortage looms
World

Sri Lanka crisis: India and Japan to provide relief supplies worth millions as threat of severe food shortage looms

Prime Minister Ranil Wickremesinghe announced this week that Sri Lanka would be facing a severe food shortage and advocated the use of unused state land for cultivation as a mitigation measure

Sri Lanka closes schools, limits work as it battles acute fuel shortage
World

Sri Lanka closes schools, limits work as it battles acute fuel shortage

State- and government-approved private schools closed Friday amid the worsening fuel shortage, with thousands of people waiting in queues at fuel stations across the country for days at a time

Lankan Parliament defeats no-trust motion against President Gotabaya Rajapaksa
World

Lankan Parliament defeats no-trust motion against President Gotabaya Rajapaksa

Human rights lawyer Bhavani Fonseka tweeted after the vote that the motion's defeat exposed MPs who protect President Rajapaksa

Rajapaksa dynasty crumbles as Sri Lanka economy tanks
World

Rajapaksa dynasty crumbles as Sri Lanka economy tanks

With soaring prices, fuel and food shortages and lengthy power cuts, Sri Lankans have been protesting for weeks, calling for both the Rajapaksas to step down. Mahinda resigned on 9 May

Sri Lanka crisis: Opposition split over the choice of the next prime minister
World

Sri Lanka crisis: Opposition split over the choice of the next prime minister

Sri Lanka has been without a government since Monday when Prime Minister Mahinda Rajapaksa resigned after violence erupted following an attack on the anti-government protesters by his supporters

Sri Lanka economic crisis: Bangladesh extends currency swap facility to boost the island nation's depleting foreign reserves
World

Sri Lanka economic crisis: Bangladesh extends currency swap facility to boost the island nation's depleting foreign reserves

Bangladesh has extended the term of USD 200 million loans given to cash-strapped Sri Lanka under a currency swap deal by one more year. The decision was taken by Bangladesh Bank directors keeping the conditions for the loan unchanged

Sri Lanka to get a year’s extension to repay $200 million bailout to Bangladesh
World

Sri Lanka to get a year’s extension to repay $200 million bailout to Bangladesh

According to the deal, Sri Lanka was supposed to repay the loan within three months. However, as the country is facing a severe economic crisis, the loan term has been extended

Sri Lanka government defends imposition of emergency amid criticism from Oppn parties, foreign envoys
World

Sri Lanka government defends imposition of emergency amid criticism from Oppn parties, foreign envoys

In a special Cabinet meeting on Friday, President Gotabaya Rajapaksa declared a state of emergency for the second time that came into effect from Friday midnight

Sri Lanka crisis: US, European diplomats urge President Rajapaksa to repeal state of emergency
World

Sri Lanka crisis: US, European diplomats urge President Rajapaksa to repeal state of emergency

A spokesman for Rajapaksa said the state of emergency was imposed to 'ensure public order' after Friday's general strike brought public transport and economic activity to a halt

Sri Lanka lawyers urge President Gotabaya Rajapaksa to repeal state of emergency
World

Sri Lanka lawyers urge President Gotabaya Rajapaksa to repeal state of emergency

President Gotabaya Rajapaksa declared a fresh state of emergency on Friday after weeks of protests demanding his government step down over its mismanagement of the crisis

Sri Lanka president declares a state of emergency for second time amid economic crisis
World

Sri Lanka president declares a state of emergency for second time amid economic crisis

Sri Lanka Gotabaya Rajapaksa president invoked the laws to ‘ensure public order’, as per a spokesperson

Sri Lanka crisis: Indian Navy delivers first consignment of critical medicine in Colombo
World

Sri Lanka crisis: Indian Navy delivers first consignment of critical medicine in Colombo

India in the last six months has provided assistance on several fronts to it's neighbouring country Sri Lanka

Loyalists turn on Sri Lanka Prime Minister Mahinda Rajapaksa as pressure from protests grows
World

Loyalists turn on Sri Lanka Prime Minister Mahinda Rajapaksa as pressure from protests grows

Sri Lanka is suffering its most painful economic downturn since independence in 1948, with months of lengthy blackouts and acute shortages of food, fuel and other essentials

Constitutional amendments will not solve Sri Lanka's crisis, need a change in the political culture, says Ex-Army chief
World

Constitutional amendments will not solve Sri Lanka's crisis, need a change in the political culture, says Ex-Army chief

Sarath Fonseka said the ruling party and the opposition are taking pot-shots at each other and taking refuge in unnecessary blame-game