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 …
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Hefty losses at foreign funds with holdings in Sri Lankan equities
(Reuters) – Foreign mutual funds which have exposure to Sri Lankan equities have posted steep losses in their net asset values this year, prompting their …
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 …
Sri Lankan Parliament Elects Allegedly Corrupt Former Prime Minister As President
Sri Lankan Parliament Elects Allegedly Corrupt Former Prime Minister As President Micaela Burrow on July 20, 2022 Sri Lanka’s parliament elected former prime minister Ranil …
New Sri Lankan government must raise taxes, make difficult reforms – cbank governor
(Reuters) – Sri Lanka’s new president will have to deal with daunting political challenges and his reforms should include tax rises to stabilize a devastated …
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 …
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.
Sri Lankan President Officially Resigns, Ousted PM Takes His Place
Sri Lankan President Officially Resigns, Ousted PM Takes His Place Micaela Burrow on July 15, 2022 Former Prime Minister Ranil Wickremesinghe stepped in as acting …
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 …
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 …
‘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’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 …
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 …
Sri Lankan Prime Minister To Resign After Protests Over Collapsed Economy
Sri Lankan Prime Minister To Resign After Protests Over Collapsed Economy Micaela Burrow on July 9, 2022 Sri Lanka’s prime minister has agreed to step …
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 …
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 …
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 …
The meeting, then the mob. A ‘turning point’ in Sri Lankan crisis
By Alasdair Pal and Uditha Jayasinghe COLOMBO – On Monday morning, hundreds of supporters gathered at the prime minister’s official residence in Sri Lanka’s commercial …
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 …
Thousands of Sri Lankans rally over government handling of crisis
By Alasdair Pal and Uditha Jayasinghe COLOMBO – Thousands of supporters of Sri Lankan opposition parties rallied on Sunday in the commercial capital Colombo as …
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 …
Sri Lankan veterans protest against president who led them during war
By Uditha Jayasinghe and Alasdair Pal COLOMBO – Missing both legs and an arm, former special forces soldier Thushara Kumara is an unlikely critic of …
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% …
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 …
Former Sri Lankan Ambassador Pleads Guilty to Defrauding Sri Lankan Government
WASHINGTON – A former ambassador for Sri Lanka pleaded guilty today to diverting and attempting to embezzle $332,027 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 …
‘Have to eat half’: Sri Lankans feel pain of spiralling economic crisis
MINUWANGODA, Sri Lanka – Thusitha Hadaragama stood at a corner store near his home in Sri Lanka’s Minuwangoda town this week and surveyed groceries to …