Sri Lanka’s economy shrank 3.1% in Q2 amid financial crisis
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s economy shrank 3.1% in the April-June quarter, official data showed on Friday, as the country struggles to claw out of its worst financial crisis in…
Sri Lanka’s key inflation rate eases to 25.2% in May
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s key inflation rate eased to 25.2% in May from 35.3% in April, the statistics department said on Wednesday, reducing some stress on the crisis-hit…
Sri Lanka’s key inflation rate eases to 50.3% in March
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s key inflation rate eased to 50.3% in March from 50.6% in February, the statistics department said on Friday. The Colombo Consumer Price Index (CCPI)…
Sri Lanka’s national consumer price inflation at 53.6% in Feb
(Reuters) – Sri Lanka’s National Consumer Price Index (NCPI) rose 53.6% in February on the year, after a rise of 53.2% in January, the statistics department of the debt-stricken country said on…
Sri Lanka’s rate hike shows commitment to rapid disinflation – IMF
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s decision to raise interest rates shows the crisis-hit country’s commitment to reducing inflation quickly towards single-digit levels, the International Monetary Fund (IMF) said on…
Sri Lanka’s key inflation rate eases to 54.2% in January
(Reuters) – Sri Lanka’s key inflation rate eased to 54.2% in January from 57.2% in December, the country’s statistics department said on Tuesday. The Colombo Consumer Price Index (CCPI) reflected a 60.1%…
Sri Lanka’s national consumer price inflation eases to 65% in Nov
(Reuters) – Sri Lanka’s National Consumer Price Index (NCPI) eased year-on-year to 65% in November after a 70.6% jump in October, the statistics department said on Wednesday. Food prices were up 69.8%…
World Bank approves Sri Lanka’s concessional funding request
COLOMBO (Reuters) – The World Bank has approved crisis-hit Sri Lanka’s request to access concessional financing from the International Development Association so as to help stabilise its economy, the lender said on…
Sri Lanka’s debt to China close to 20% of public external debt -study
By Jorgelina do Rosario and Rachel Savage LONDON/JOHANNESBURG (Reuters) – Sri Lanka owed Chinese lenders $7.4 billion – nearly a fifth of its public external debt – by the end of last…
Sri Lanka’s key inflation rate eases to 66% in October
(Reuters) -Sri Lanka’s key inflation rate eased to 66% in October after hitting 69.8% in September, the crisis-struck country’s statistics department said on Monday. The still extremely elevated Colombo Consumer Price Index…
Sri Lanka’s key inflation rate surges to record, keeps central bank pressured
By Uditha Jayasinghe COLOMBO (Reuters) -A key measure of Sri Lanka’s consumer inflation surged to an annual record 69.8% in September, official data showed on Friday, highlighting the challenge for the central…
Sri Lanka’s president to cut spending in interim budget
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s president is set to slash expenditure when he presents an interim budget on Tuesday to see the crisis-ridden country through the rest of the…
Sri Lanka’s ruling party asks new president to help with ex-leader Rajapaksa’s return
COLOMBO (Reuters) – Sri Lanka’s ruling party has asked the country’s new president to provide security and other assistance for his predecessor who fled to Southeast Asia last month after protests flared…
Sri Lanka’s Wickremesinghe voted in as next president
COLOMBO – Sri Lanka’s acting President Ranil Wickremesinghe will be the country’s next president until 2024, a parliament vote count showed on Wednesday.…
Yellen says it’s in China’s interest to restructure Sri Lanka’s debt
By Andrea Shalal and Marc Jones NUSA DUA, Indonesia – China is a “very important” creditor of Sri Lanka and it would likely be in the interest of both countries if China…
Sri Lanka’s Gotabaya Rajapaksa: Civil war victor brought down by protests
By Alasdair Pal (Reuters) – Sri Lanka’s Gotabaya Rajapaksa, who oversaw a ruthless crushing of Tamil Tiger guerrillas to end a long-running civil war and went on to become president, had been…
Sri Lanka’s ruling family in fight for survival as crisis worsens
By Alasdair Pal and Uditha Jayasinghe WEERAKETIYA, Sri Lanka – His beloved villa has been daubed in graffiti by protesters, and a museum dedicated to his father ransacked. Now former Sri Lankan…
Explainer-Sri Lanka’s reluctance to tap IMF helped push it into an economic abyss
By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO – Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged…
Sri Lanka’s president will not resign, despite protests – minister
By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO -Sri Lankan President Gotabaya Rajapaksa will not resign, a minister said on Wednesday, despite demonstrations against his handling of the country’s worst economic crisis in…
Sri Lanka’s apparel sector struggles with rolling power cuts
By Uditha Jayasinghe COLOMBO – Indika Prasanna Kumara ventures out every afternoon to try to find 200 litres of diesel for the Broadway Kids apparel factory in Sri Lanka so it can…
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