IMF says Sri Lanka still needs deals with official and external private creditors
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – The International Monetary Fund said it remains critical for Sri Lanka to swiftly reach final agreements with its official lenders and reach a…
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 reels under its worst economic crisis in…
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 worst financial crisis in seven decades, a…
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 Lanka’s Kilinochchi district, indicating the height the…
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 official said on Monday, as part of…
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 finance ministry said on Friday. Discussions with…
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 to Beijing said on Monday as it…
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 energy minister said on Monday, as the…
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 Gotabaya Rajapaksa, was almost deserted on Wednesday…
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 aid and is confident Beijing will agree…
‘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 updated to reflect comments from Pete Earle,…
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 Rajapaksa fled to the Maldives on Wednesday,…
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 on Wednesday, likely headed to the Maldives,…
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 Sunday they will occupy the buildings until…
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 but he plans to step down on…
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 of talks for a bailout package after…
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 capital Colombo amid growing anger over the…
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 bid to win approval for a four-year…
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 island nation grappled with its worst economic…
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 billion in debt, the island nation’s prime…
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, as the cash-strapped country moves forward on…
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 Friday, as the country wrestles with its…
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 items bought through credit lines, and another…
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 bailout in place before its economy disintegrates…
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. In a message on Twitter, 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 crisis-wracked South Asian country on May 24,…
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