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,…
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,…
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,…
(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…
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 given an improvement in political…
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 strains and help its talks…
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 pay for essential imports, as…
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…
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 capital of Colombo where they…
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 prime minister quit and his…
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 the economic crisis turned deadly,…
By Alasdair Pal and Uditha Jayasinghe COLOMBO – Thousands of supporters of Sri Lankan opposition parties rallied on Sunday in the commercial capital Colombo as a weeks-long political and economic…
By Uditha Jayasinghe and Alasdair Pal COLOMBO – Many schools in Colombo were shut and several train stations deserted on Thursday as teachers and train drivers joined mass walkouts demanding…
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 of its $12 billion overseas…
By Uditha Jayasinghe and Alasdair Pal COLOMBO – Missing both legs and an arm, former special forces soldier Thushara Kumara is an unlikely critic of Gotabaya Rajapaksa, a wartime defence…
(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 sovereign bond interest payments, S&P…
By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO – India and Sri Lanka have resumed talks on linking their electricity grids, officials told Reuters on Tuesday, a step that could aid…
(Reuters) – The Securities And Exchange Commission of Sri Lanka said on Saturday it was directing the Colombo Stock Exchange to suspend the stock market for five business days from…
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 bonds, after the government announced…
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% this year due to high…
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…
WASHINGTON – A former ambassador for Sri Lanka pleaded guilty today to diverting and attempting to embezzle $332,027 from the government of Sri Lanka…
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 Russia and approved financing and…
WASHINGTON – The International Monetary Fund will initiate discussions with Sri Lankan authorities on a possible loan program in coming days, IMF spokesperson Gerry Rice said on Thursday, as the…
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 to an International Monetary Fund…
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 buy for his family of…