Sri Lanka cenbank to hold rates as inflation worries persist
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is likely to maintain interest rates on Thursday in an effort to get a grip …
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Asian Development Bank vows more help for crisis-hit Sri Lanka
By Karen Lema and Tetsushi Kajimoto MANILA/TOKYO (Reuters) – The Asian Development Bank (ADB) is ready to provide further financial support to Sri Lanka, a …
Sri Lanka looks to revive free trade deal with Singapore
COLOMBO (Reuters) – Sri Lanka will step up efforts to revive a stalled free trade pact with Singapore, President Ranil Wickremesinghe told the city state’s …
Sri Lanka to unveil debt restructuring plan to creditors
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lankan authorities will formally hold talks with international creditors on Friday to start the process of restructuring billions …
Sri Lanka inflation rate surges to 70.2% in August
By Uditha Jayasinghe (Reuters) – Consumer inflation in Sri Lanka accelerated to 70.2% in August, the statistics department said on Wednesday, as the island nation …
U.N. presses Sri Lanka to advance human rights amid economic crisis
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka should improve human rights and strengthen institutions to tackle the humanitarian challenges that have sprung from its …
Sri Lanka faces looming food crisis with stunted rice crop
By Devjyot Ghoshal and Uditha Jayasinghe KILINOCHCHI/COLOMBO, Sri Lanka – Nallathambi Mahendran walked through his four acres of emerald green paddy fields in northern Sri …
Indian Oil Corp unit to open 50 fuel stations in Sri Lanka to help alleviate crisis
By Uditha Jayasinghe COLOMBO – Sri Lanka has given approval for India’s Lanka Indian Oil Corporation (LIOC) to open 50 new fuel stations, a company …
Sri Lanka resumes bailout discussions with IMF, finance ministry says
NEW DELHI – Sri Lanka has resumed technical discussions with the International Monetary Fund on a potential bailout after a new government took office, the …
Sri Lanka asks China for help with trade, investment and tourism
By Yew Lun Tian BEIJING – Sri Lanka has asked China to help with trade, investment and tourism to help it grow sustainably, Colombo’s envoy …
Sri Lanka to restrict fuel imports for next 12 months
By Uditha Jayasinghe COLOMBO – Sri Lanka will restrict fuel imports for the next 12 months because of a severe shortage of foreign exchange, its …
Protesters sombre after Wickremesinghe’s win in Sri Lanka, but some vow to fight on
By Alasdair Pal COLOMBO – Sri Lanka’s imposing presidential secretariat which was stormed by a sea of protesters in early July, forcing out then incumbent …
China will agree to $4 billion aid for Sri Lanka ‘at some point’ – Bloomberg News
(Corrects to add dropped word ‘Sri Lanka’ to headline) (Reuters) – Sri Lanka is continuing negotiations with China for as much as $4 billion in …
‘What The Green New Deal Looks Like’: Tucker Hammers AOC Over Sri Lanka Collapse
‘What The Green New Deal Looks Like’: Tucker Hammers AOC Over Sri Lanka Collapse Harold Hutchison on July 12, 2022 UPDATE: This story has been …
Sri Lanka PM declares state of emergency, curfew – spokesman
NEW DELHI – Sri Lankan Prime Minister Ranil Wickremesinghe has declared a state of emergency in his role as the acting president, after President Gotabaya …
Explainer: How Sri Lanka spiralled into crisis
By Devjyot Ghoshal and Alasdair Pal (Reuters) – Sri Lanka’s economic crisis looks to have finally toppled President Gotabaya Rajapaksa. Rajapaksa fled the country early …
Sri Lanka protesters plan to occupy president and PM’s residences until they quit
COLOMBO – Leaders of the protest movement in Sri Lanka who have forced the president and prime minister out of their official residences said on …
Explainer-How Sri Lanka spiralled into crisis
By Devjyot Ghoshal and Alasdair Pal COLOMBO – Sri Lanka’s economic crisis looks to have finally toppled President Gotabaya Rajapaksa. Rajapaksa has not commented directly …
IMF hopes for resolution of Sri Lanka crisis to allow bailout talks
NEW DELHI – The International Monetary Fund (IMF) said it is hoping for a resolution to Sri Lanka’s political turmoil that will allow a resumption …
Sri Lanka prime minister summons emergency party leaders meeting after street unrest
COLOMBO – Sri Lanka’s Prime Minister on Saturday summoned an emergency meeting of political party leaders after protesters stormed the president’s house in the commercial …
Crisis-hit Sri Lanka to present debt restructure plan to IMF by August
By Uditha Jayasinghe COLOMBO -Crisis-hit Sri Lanka will present a debt restructuring plan to the International Monetary Fund by the end of August, in a …
Sri Lanka May consumer prices soar 45.3% y/y, highest since 2015
By Uditha Jayasinghe COLOMBO -Sri Lanka’s headline inflation accelerated in May to the highest since 2015 due to rising food and transport costs, as the …
Lazard, Clifford Chance reach Sri Lanka to advise on debt restructure – PM
COLOMBO – Representatives from heavyweight financial and legal advisers Lazard and Clifford Chance arrived in Sri Lanka to kick off the restructuring of over $12 …
Sri Lanka tycoon Dhammika Perera to replace president’s brother in parliament
By Uditha Jayasinghe COLOMBO – One of Sri Lanka’s richest businessmen will replace the president’s brother in parliament, a ruling party official said on Friday, …
Crisis-hit Sri Lanka hopes for over $1 billion in foreign investment this year
By Uditha Jayasinghe COLOMBO – Sri Lanka is aiming to attract well over $1 billion in foreign direct investment this year, an official said on …
Sri Lanka seeks to secure $5 billion in funds for import payments
By Uditha Jayasinghe COLOMBO – Sri Lanka seeks to secure around $5 billion in funding this year to cover repayments for fuel imports and other …
Factbox-Sri Lanka is running out of time to secure an IMF bailout
By Uditha Jayasinghe COLOMBO – Sri Lanka is seeking help from the International Monetary Fund (IMF) for its 17th program in seven decades, needing a …
Sri Lanka hikes fuel prices, encourages people to work from home
COLOMBO – Sri Lanka hiked petrol prices by 20%-24% on Tuesday and also increased diesel prices by 35%-38%, Power and Energy Minister Kanchana Wijesekera said. …
IMF says Sri Lanka talks conclude May 24, monitoring developments closely
(Reuters) – An International Monetary Fund virtual mission to Sri Lanka is expected to conclude technical talks on a potential IMF loan program to the …
Sri Lanka c. bank governor says sees more stability, to stay in post
By Uditha Jayasinghe and Swati Bhat COLOMBO – Sri Lanka’s central bank governor said on Thursday he will stay on as head of the bank …
JPMorgan backs Sri Lanka bonds on bets that crippling crisis to ease
LONDON – U.S. investment bank JPMorgan backed Sri Lanka’s crisis-hit government bonds on Wednesday, saying recent political changes in the country should gradually improve its …
Sri Lanka needs $75 million in next few days for essential imports – PM
COLOMBO – Sri Lanka’s prime minister said on Monday the country needed to secure $75 million in foreign exchange in the next few days to …
Explainer-How Sri Lanka spiralled into crisis
NEW DELHI – Sri Lanka’s economic crisis has turned into deadly violence. Eight people died and over 200 were injured on Monday, the country’s powerful …
Shorter-dated Sri Lanka dollar bonds slip after deadly clashes, political turmoil
LONDON – Sri Lanka’s shorter-dated sovereign dollar bonds slipped as much as 1 cent on Tuesday, a day after protests over the government’s handling of …
Sri Lanka teachers, bank workers join mass walkout over economic crisis
By Uditha Jayasinghe and Alasdair Pal COLOMBO – Many schools in Colombo were shut and several train stations deserted on Thursday as teachers and train …
Analysis-Complex web of creditors, politics threatens Sri Lanka restructuring
By Jorgelina do Rosario LONDON – Social unrest, political uncertainty and a complex web of creditors could scupper Sri Lanka’s push for a swift overhaul …
S&P cuts Sri Lanka to ‘selective default’ on missed payments
(Reuters) – S&P Global Ratings cut Sri Lanka’s rating as an issuer of foreign currency debt to ‘selective default’ after the South Asian country missed …
Exclusive-Crisis-hit Sri Lanka, India revive talks to link electric grids
By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO – India and Sri Lanka have resumed talks on linking their electricity grids, officials told Reuters on Tuesday, …
Sri Lanka regulator halts Colombo Stock Exchange next week
(Reuters) – The Securities And Exchange Commission of Sri Lanka said on Saturday it was directing the Colombo Stock Exchange to suspend the stock market …
Analysis – Sri Lanka bondholders brace for big losses in debt restructuring
By Jorgelina do Rosario and Karin Strohecker (Reuters) – Sri Lanka’s creditors face losing a third to half of their investment in the country’s dollar …
Sri Lanka industry says 2022 exports could tumble 20%-30% on economic crisis
COLOMBO – Sri Lankan leaders from garments, tea and other industries said on Friday the country’s goods and services exports could plunge 20% to 30% …
Exclusive-Ex-Sri Lanka cenbanker Weerasinghe says he accepts offer to be new governor
By Uditha Jayasinghe COLOMBO – Former Central Bank of Sri Lanka (CBSL) official P. Nandalal Weerasinghe said on Monday he had accepted an offer from …
U.S. EXIM Bank formalizes Russia pullout; approves Sri Lanka, Albania, Iraq deals
By David Lawder WASHINGTON – The U.S. Export-Import Bank’s board of directors on Thursday voted to formalize the bank’s withdrawal from any further business in …
IMF to start talks with Sri Lanka on loan request in coming days
WASHINGTON – The International Monetary Fund will initiate discussions with Sri Lankan authorities on a possible loan program in coming days, IMF spokesperson Gerry Rice …
Sri Lanka to seek World Bank support alongside IMF loan programme – sources
By Uditha Jayasinghe and Devjyot Ghoshal COLOMBO/NEW DELHI – Sri Lanka will seek World Bank assistance to stave off a severe economic crisis in addition …
Sri Lanka govt panel says international financial assistance needed
By Uditha Jayasinghe COLOMBO – A Sri Lanka government-appointed committee on Monday said the crisis-hit country’s central bank and finance ministry must form a team …
Sri Lanka signs $1 billion credit line with India
COLOMBO – Sri Lanka’s Finance Minister Basil Rajapaksa signed a $1 billion credit line with India on Thursday to help ease crippling shortages of essential …
Sri Lanka finance minister meets top IMF official amid economic crisis
By Uditha Jayasinghe COLOMBO – Sri Lanka’s finance minister held talks with a top International Monetary Fund (IMF) official on Monday, two sources said, as …
Top IMF official to visit Sri Lanka this week to brief about economy’s state
By Uditha Jayasinghe COLOMBO – A senior International Monetary Fund (IMF) official will be visiting Sri Lanka on Monday and Tuesday to brief President Gotabaya …
Sri Lanka to allow rupee to weaken to 230 per dollar
By Uditha Jayasinghe COLOMBO – Sri Lanka’s central bank on Monday set an exchange rate limit of 230 rupees to the dollar, effectively allowing a …