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SRI LANKA CRISIS NEWS

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Sri Lanka survived two tough years of economic crisis; possibly because of India's support: President Wickremesinghe

June 22, 2024 6:00 pm

The island nation, in April 2022, declared its first-ever sovereign default since gaining independence from Britain in 1948. The unprecedented financial crisis led President Wickremesinghe's predecessor Gotabaya Rajapaksa to quit office in 2022.

Sitharaman to join her French, Japanese counterparts to announce Sri Lanka debt restructuring process

April 12, 2023 1:37 pm

Union Finance Minister Nirmala Sitharaman will join her French and Japanese counterparts on Thursday to announce Sri Lanka's debt restructuring negotiations process, the IMF has announced.

Sri Lanka's key inflation rate eases to 66% in October

October 31, 2022 5:39 pm

The still extremely elevated Colombo Consumer Price Index (CCPI) reflected a 85.6% jump in food prices in October and a 56.3% climb in the non-food group, the Census and Statistics Department said in a statement.

Booker-winner Shehan Karunatilaka: He deserves every accolade, we deserve his lampooning

October 24, 2022 9:01 am

Andrew Fidel Fernando writes: Karunatilaka captures the pain and absurdity of life in Sri Lanka. The island is unlikely to ever cease providing inspiration to him

Sri Lanka passes constitutional amendment aimed at trimming presidential powers

October 21, 2022 7:56 pm

As a response to widespread protests, Rajapaksa had backed constitutional reforms that would reduce the powers of the executive presidency and allocate them to parliament in June.

Lanka SC orders to issue summons to Gotabaya Rajapaksa in 2011 human rights violation case

October 19, 2022 4:52 pm

Rajapaksa will now be required to give evidence in the case filed on the disappearance of two rights activists in the northern district of Jaffna.

Debt restructuring talks underway with IMF, India, China: Sri Lanka President

October 16, 2022 9:32 pm

Sri Lanka reached a staff-level agreement with the IMF in late August for a USD 2.9 billion rescue package over 4 years. Its completion hinges on assurances from Sri Lanka's creditors on debt restructuring.

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'We went through a bad phase and now we need tourists back': Sanath Jayasuriya urges Indians to visit Sri Lanka

October 01, 2022 11:31 am

Shortages of essential supplies in Sri Lanka have eased somewhat in the last month, but normalcy is still a long way off.

In Sri Lanka, triumphs in cricket and netball bring joy to a nation in crisis

September 14, 2022 11:20 am

For many in Sri Lanka, the spectacle was the sort of happy distraction that’s in short supply as the island nation reels from power cuts and shortages of food, fuel and medicine.

Sri Lanka economic crisis: Lazard in talks with China, India, Japan

September 13, 2022 1:19 pm

The three countries hold about $13 billion of Sri Lanka's debt, while China is Sri Lanka's largest bilateral creditor.

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Protesters storm Sri Lankan PM's office, lounge on sofas, watch TV

July 14, 2022 6:38 am

Amid the ongoing economic crisis and widespread protests in Sri Lanka, Prime Minister Ranil Wickremesinghe declared a state of emergency and imposed a curfew in the Western Province of the country, the PM‘s office said.