Sri Lanka parliament debates the health minister’s fate over reports of lack of drugs, hospital care
1 year, 4 months ago

Sri Lanka parliament debates the health minister’s fate over reports of lack of drugs, hospital care

Associated Press  

COLOMBO, Sri Lanka — Sri Lankan lawmakers began a debate on the fate of country’s health minister on Wednesday, seeking to remove him over his alleged failure to secure enough essential drugs and laboratory equipment that some say resulted in preventable deaths in hospitals. Sri Lanka provides free health service through state-run hospitals but they have suffered from a shortage of medicines and health workers, especially doctors, as a result of an economic crisis after the government suspended repayment of foreign loans. Sri Lanka’s financial troubles have been triggered by a shortage of foreign currency, excessive borrowing by the government, and efforts by the central bank to stabilize the Sri Lankan rupee with scarce foreign reserves. Sri Lanka has secured a $3 billion bailout package from the International Monetary Fund and is taking steps to restructure its domestic and foreign debts.

Health Sri Lanka Lanka Sri  suffered  foreign  lawmakers  reports  lack  parliament  motion  lanka  staterun  fate  ministers  health  hospital  billion  drugs  shortage  sri

History of this topic

Sri Lanka To Ink Debt Deals By Year's End: Economic Development Deputy Minister
1 month ago

Sri Lanka To Ink Debt Deals By Year's End: Economic Development Deputy Minister

Deccan Chronicle  

Colombo: Cash-strapped Sri Lanka vowed Thursday to complete its long-delayed foreign debt restructure within the month before a 2025 budget adhering to strict revenue targets set by the International Monetary Fund. Economic Development Deputy Minister Anil Jayantha Fernando said debt restructuring had been delayed by more than two years, costing the country an additional 1.7 billion dollars in accumulated interest. …

Sri Lanka’s Marxist-leaning president appoints his Cabinet after a resounding election win
1 month, 3 weeks ago

Sri Lanka’s Marxist-leaning president appoints his Cabinet after a resounding election win

Live Mint  

COLOMBO, Sri Lanka — Sri Lanka’s new Marxist-leaning president swore in a 21-member Cabinet on Monday after his party secured a two-thirds parliamentary majority in last week’s election. Sri Lanka’s crisis was largely the result of economic mismanagement combined with fallout from the COVID-19 pandemic, which along with militant attacks in 2019 devastated the important tourism industry. Sri Lanka’s economic …

Sri Lanka president appoints Cabinet after resounding election win
1 month, 3 weeks ago

Sri Lanka president appoints Cabinet after resounding election win

Deccan Chronicle  

Colombo: Sri Lanka’s new Marxist-leaning president swore in a 21-member Cabinet on Monday after his party secured a two-thirds parliamentary majority in last week’s election. Sri Lanka’s crisis was largely the result of economic mismanagement combined with fallout from the COVID-19 pandemic, which along with militant attacks in 2019 devastated the important tourism industry. Sri Lanka’s economic upheaval led to …

India’s foreign minister becomes the first such dignitary to visit Sri Lanka since the election
3 months ago

India’s foreign minister becomes the first such dignitary to visit Sri Lanka since the election

Associated Press  

COLOMBO, Sri Lanka — India’s Foreign Minister S. Jaishankar met Sri Lanka’s newly elected President Anura Kumara Dissanayake Friday in the first such visit of a dignitary since a new government took office in the island nation last month, amid questions over how Dissanayake would balance between regional powers China and India. At the same time, China’s support to restructure …

Marxist Dissanayake wins Sri Lanka's presidential election as voters reject old guard
3 months, 2 weeks ago

Marxist Dissanayake wins Sri Lanka's presidential election as voters reject old guard

NPR  

Marxist Dissanayake wins Sri Lanka's presidential election as voters reject old guard toggle caption Eranga Jayawardena/AP COLOMBO, Sri Lanka — Marxist lawmaker Anura Kumara Dissanayake won Sri Lanka’s presidential election, according to data released by the Election Commission Sunday, as voters rejected the old political guard that has been widely accused of pushing the South Asian nation toward economic ruin. …

Sri Lanka’s presidential election a test for current leader, 2 years after its economy hit bottom
3 months, 3 weeks ago

Sri Lanka’s presidential election a test for current leader, 2 years after its economy hit bottom

Associated Press  

COLOMBO, Sri Lanka — Two years ago, food cart worker Fathima Shiyama had to wait in line, sometimes for days, to get cooking gas, fuel and other essentials. Fathima Shiyama, 48, prepares local delicacies at home, to be sold later from her food cart, in Colombo, Sri Lanka, Tuesday, Sept. 3, 2024. A man sits next to election posters of …

Sri Lanka president defends IMF bailout in campaign launch
4 months, 1 week ago

Sri Lanka president defends IMF bailout in campaign launch

Hindustan Times  

Sri Lanka had no option but to agree to an International Monetary Fund bailout that required tough austerity measures, President Ranil Wickremesinghe said Thursday as he launched his re-election campaign. Sri Lanka president defends IMF bailout in campaign launch An unprecedented economic crisis two years ago led to months-long food and fuel shortages, triggering street protests that forced Wickremesinghe's predecessor …

Sri Lanka will hold presidential election on Sept. 21, its first since declaring bankruptcy in 2022
5 months, 2 weeks ago

Sri Lanka will hold presidential election on Sept. 21, its first since declaring bankruptcy in 2022

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka will hold a presidential election on Sept. 21 that will likely be a test of confidence in President Ranil Wickremesinghe’s efforts to resolve the country’s worst economic crisis. Sri Lanka’s crisis was largely the result of staggering economic mismanagement combined with fallout from the COVID-19 pandemic, which along with 2019 terrorism attacks devastated its …

Sri Lanka reaches deal on debt restructuring with bilateral creditors including China and France
6 months, 2 weeks ago

Sri Lanka reaches deal on debt restructuring with bilateral creditors including China and France

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka’s President Ranil Wickremesinghe announced a debt restructuring deal with countries including India, France, Japan and China in a televised address to the nation Wednesday. Similarly, we signed another agreement with China’s Exim Bank today in Beijing.. Sri Lanka won,” Wickremesinghe said. Sri Lanka declared bankruptcy in April 2022 and suspended repayments on some $83 …

Sri Lanka seals debt deal with Official Creditor Committee after financial crisis
6 months, 2 weeks ago

Sri Lanka seals debt deal with Official Creditor Committee after financial crisis

The Hindu  

In what it termed a significant milestone, Sri Lanka on Wednesday sealed a deal with the Official Creditor Committee, to restructure the debt owed to its bilateral lenders including India, and signed a separate agreement with China for debt treatment. “Sri Lanka reached a final restructuring agreement for $5.8 billion of debt with its bilateral lenders’ Official Creditor Committee in …

Sri Lanka loses 10 percent of its doctors amid exodus after economic crisis
6 months, 3 weeks ago

Sri Lanka loses 10 percent of its doctors amid exodus after economic crisis

Al Jazeera  

Faced with spiralling inflation and poor pay, Sri Lanka’s doctors have migrated en masse to other nations in the past two years, crippling hospitals. According to the Government Medical Officers Association, the biggest trade union of government doctors in Sri Lanka, more than 1,700 doctors have left the country over the last two years, primarily for economic reasons. “There were …

Sri Lankan president says he is seeking to defer loan payments until 2028 amid economic crisis
10 months ago

Sri Lankan president says he is seeking to defer loan payments until 2028 amid economic crisis

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sri Lanka's president said Wednesday …

Sri Lankan president says he is seeking to defer loan payments until 2028 amid economic crisis
10 months ago

Sri Lankan president says he is seeking to defer loan payments until 2028 amid economic crisis

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka’s president said Wednesday that he is seeking a loan repayment moratorium until 2028 as the debt-ridden county tries to emerge from bankruptcy. Sri Lanka declared bankruptcy in April 2022 and suspended repayments on some $83 billion in local and foreign loans amid a severe foreign exchange crisis that led to a severe shortage of …

Sri Lanka says debt restructure finalised by April
11 months, 4 weeks ago

Sri Lanka says debt restructure finalised by April

The Hindu  

Sri Lanka's bankrupt government said Friday that a foreign debt restructure would be finalised by the beginning of April, after signs the economy was emerging from its worst crisis on record. The IMF released a $337-million second tranche of its four-year loan last month after Colombo secured an "in principle" debt agreement with China, Sri Lanka's biggest bilateral lender. Mr. …

Sri Lanka will get the second tranche of a much-need bailout package from the IMF
1 year ago

Sri Lanka will get the second tranche of a much-need bailout package from the IMF

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Sri Lanka will get the second tranche of a much-need bailout package from the IMF
1 year ago

Sri Lanka will get the second tranche of a much-need bailout package from the IMF

Associated Press  

COLOMBO, Sri Lanka — The International Monetary Fund executive board approved the release of the second tranche of a $2.9 billion dollar bailout package to help Sri Lanka recover from the worst economic crisis in its history. In a statement, the fund said the decision Tuesday to release $337 million came after Sri Lanka had made “commendable progress” toward debt …

Sri Lanka says it struck a deal with creditors on debt restructuring to clear way for IMF funds
1 year, 1 month ago

Sri Lanka says it struck a deal with creditors on debt restructuring to clear way for IMF funds

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka said Wednesday that it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring, a crucial move toward unlocking a second instalment of a $2.9 billion bailout package from the International Monetary Fund. The agreement with the Official Creditor Committee covers approximately $5.9 billion of outstanding …

The second installment of Sri Lanka’s bailout was delayed. The country hopes it’s coming in December
1 year, 1 month ago

The second installment of Sri Lanka’s bailout was delayed. The country hopes it’s coming in December

Associated Press  

COLOMBO, Sri Lanka — The governor of Sri Lanka’s Central Bank said Friday he’s confident it will receive the second instalment of a $2.9-billion bailout package from the International Monetary Fund before the end of the year, after payment was delayed due to inadequate oversight and debt restructuring. The IMF’s review in September said Sri Lanka’s economy was recovering, but …

Sri Lanka says it has reached an agreement with China’s EXIM Bank on debt, clearing IMF funding snag
1 year, 2 months ago

Sri Lanka says it has reached an agreement with China’s EXIM Bank on debt, clearing IMF funding snag

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka says it has reached an agreement with the Exim Bank of China on key terms and principles for restructuring its debt, a key step toward unlocking a second instalment of a $2.9 billion package from International Monetary Fund aimed at rescuing the island nation from a dire economic crisis. The finance ministry said in …

IMF says Sri Lanka needs to boost reforms and collect more taxes for its bailout funding package
1 year, 3 months ago

IMF says Sri Lanka needs to boost reforms and collect more taxes for its bailout funding package

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka has so far failed to make enough progress in boosting tax collection and other economic reforms for the International Monetary Fund to release a second tranche of $330 million in the country’s $2.9 billion bailout from bankruptcy, the IMF said. Sri Lanka plunged into its worst economic crisis last year, suffering severe shortages and …

ECONOMIC PERSPECTIVES | Sri Lankan debt crisis to get worse if IMF prescription is heeded
1 year, 5 months ago

ECONOMIC PERSPECTIVES | Sri Lankan debt crisis to get worse if IMF prescription is heeded

The Hindu  

Published : Jul 13, 2023 11:00 IST - 6 MINS READ On July 1, Sri Lanka’s parliament approved, through a majority 122-62 vote, a plan to restructure the government’s domestic debt, which totalled 15.4 trillion Sri Lankan rupees at the end of March 2023. At that point in time, of the government’s total debt of $86.5 billion, $46.9 billion was …

Cash-strapped Sri Lanka gets parliamentary nod for domestic debt restructuring plan
1 year, 6 months ago

Cash-strapped Sri Lanka gets parliamentary nod for domestic debt restructuring plan

The Hindu  

A special session of Sri Lanka's Parliament on July 1 overwhelmingly approved the cash-strapped government's domestic debt restructuring plan, a vital element in the bankrupt nation’s bid for recovery from the worst economic crisis. Domestic debt restructuring is a key condition in the International Monetary Fund programme, through which a bailout package of $3 billion was approved for Sri Lanka …

Sri Lanka declares five-day holiday to avoid bank run over IMF debt deal
1 year, 6 months ago

Sri Lanka declares five-day holiday to avoid bank run over IMF debt deal

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sri Lanka has declared a …

India Continues To Help Sri Lanka Stand Economically, But Colombo’s Love For Beijing Keeps Soaring
1 year, 6 months ago

India Continues To Help Sri Lanka Stand Economically, But Colombo’s Love For Beijing Keeps Soaring

ABP News  

The day was July 9, 2022 when the world witnessed unprecedented developments taking place in Indian Ocean island nation of Sri Lanka even as a large number of protestors stormed the President’s palace in Colombo that eventually led to an unceremonious escape of then President Gotabaya Rajapaksa to Maldives and then to Singapore. During a two-day visit to China, Sri …

Sri Lanka to restructure domestic debt amid challenges
1 year, 6 months ago

Sri Lanka to restructure domestic debt amid challenges

The Hindu  

Sri Lanka will shut down its banks and financial sector for five days beginning Thursday, ahead of an extraordinary weekend debate in Parliament on the government’s plan to restructure its domestic debt. In May, the IMF pointed to “tentative signs of improvement” in Sri Lanka, while underscoring the need for timely restructuring agreements with the island’s creditors ahead of the …

Indian medicines under lens in Sri Lanka over a series of adverse events
1 year, 6 months ago

Indian medicines under lens in Sri Lanka over a series of adverse events

The Hindu  

Imported Indian drugs are at the centre of a medical storm in Sri Lanka, following cases of medical complications and fatalities, reportedly after patients were administered medicines sourced from India. India is top source The series of incidents have brought Indian drugs under sharp scrutiny within Sri Lanka, including in the local media, which has urged Sri Lankan authorities to …

Sri Lanka has no money to hold presidential polls in 2023: Cabinet spokesman
1 year, 6 months ago

Sri Lanka has no money to hold presidential polls in 2023: Cabinet spokesman

Firstpost  

Sri Lanka Cabinet Spokesman Bandula Gunawardena said that no elections would be possible this year as the state finances have not improved Economic crisis hit Sri Lanka will not be holding a snap presidential election this year as the government wants to focus on debt restructuring, said Cabinet Spokesman Bandula Gunawardena. Denying speculations that the government might opt to hold …

IMF says Sri Lanka’s economic recovery shows signs of improvement but challenges remain
1 year, 7 months ago

IMF says Sri Lanka’s economic recovery shows signs of improvement but challenges remain

Associated Press  

COLOMBO, Sri Lanka — Debt-stricken Sri Lanka, which declared bankruptcy last year, is showing signs of economic improvement but its recovery still faces challenges, the International Monetary Fund said Friday. But the economic recovery remains challenging,” said IMF deputy managing director Kenji Okamura after concluding a visit to Sri Lanka, where he met with the country’s top leaders and officials. …

Sri Lankan Parliament votes to support IMF recovery program
1 year, 8 months ago

Sri Lankan Parliament votes to support IMF recovery program

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka’s Parliament voted Friday to support the implementation of a four-year International Monetary Fund program aimed at solving the country’s economic crisis and reducing its debt burden. The approval strengthens Wickremesinghe’s hands as he holds tough debt restructuring negotiations with Sri Lanka’s external creditors and privatizes state-run enterprises under the program, approved by the IMF …

Sri Lanka trying to reduce overall debt by $17 billion, president says
1 year, 8 months ago

Sri Lanka trying to reduce overall debt by $17 billion, president says

Live Mint  

Sri Lanka is trying to reduce its overall debt by $17 billion through restructuring, its president told the parliament on Wednesday as he sought support of opposition parties for a nearly $3 billion International Monetary Fund programme. President Ranil Wickremesinghe also said the country would discuss debt restructuring with India and the Paris Club of creditors on one platform and …

Sri Lanka to opt for domestic debt restructuring post-IMF bailout: Government
1 year, 9 months ago

Sri Lanka to opt for domestic debt restructuring post-IMF bailout: Government

The Hindu  

Cash-strapped Sri Lanka is exploring the options for domestic debt restructuring in the post-IMF bailout scenario to further stabilise its shaken economy, an official statement said on Friday. Explained | Understanding IMF bailouts In a statement issued by the Sri Lankan government after making an investor presentation on Thursday, the Governor of the Central Bank and the Secretary to the …

Sri Lanka slashes fuel prices in welcome relief amid crisis
1 year, 9 months ago

Sri Lanka slashes fuel prices in welcome relief amid crisis

Firstpost  

Colombo: Sri Lanka’s government on Wednesday announced significant cuts in fuel prices, providing welcome relief for many after a year of shortages and skyrocketing prices amid the country’s worst economic crisis. Sri Lanka earlier this month secured approval of a $2.9 billion IMF bailout program a key step in its recovery from a crisis brought on by the pandemic and …

IMF approves $3-billion bailout for Sri Lanka; tackling corruption a key condition
1 year, 9 months ago

IMF approves $3-billion bailout for Sri Lanka; tackling corruption a key condition

The Hindu  

The International Monetary Fund on March 20 cleared a $3 billion-Extended Fund Facility for Sri Lanka, potentially unlocking more loans for the debt-ridden island nation that is struggling to recover from last year’s economic meltdown. Identifying corruption as a key issue, an IMF “governance diagnostic mission” has started assessing Sri Lanka’s governance and anti-corruption framework in its first such exercise …

IMF approves crucial $3 Billion bailout for bankrupt Sri Lanka
1 year, 9 months ago

IMF approves crucial $3 Billion bailout for bankrupt Sri Lanka

India TV News  

IMF: Amid tremendous economic and social challenges in Sri Lanka, the International Monetary Fund approved a nearly $3 billion bailout program for the country over four years to help salvage the country's bankrupt economy. Sri Lanka facing heightened financial sector vulnerabilities “Sri Lanka has been facing tremendous economic and social challenges with a severe recession amid high inflation, depleted reserves, …

Sri Lanka seeks 10-year debt moratorium ahead of IMF bailout
1 year, 9 months ago

Sri Lanka seeks 10-year debt moratorium ahead of IMF bailout

The Hindu  

Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe’s office said on March 20, 2023 on the eve of a desperately needed $2.9 billion IMF bailout. The IMF’s executive board was expected to sign off on Colombo’s bailout application later on Monday after a long delay in securing financial assurances from China, Sri Lanka’s …

Sri Lanka's crisis-hit economy shrank by record 7.8% last year
1 year, 9 months ago

Sri Lanka's crisis-hit economy shrank by record 7.8% last year

Firstpost  

An unprecedented economic crisis sparked huge protests in the island nation, culminating last July when a mob stormed the home of then-president Gotabaya Rajapaksa, forcing him to flee the country and resign Colombo, Sri Lanka: Sri Lanka’s crisis-hit economy shrank a record 7.8 per cent last year as long blackouts and critical fuel shortages put a chokehold on local commerce, …

Sri Lanka unions stage strike to protest against IMF bailout plan
1 year, 9 months ago

Sri Lanka unions stage strike to protest against IMF bailout plan

Al Jazeera  

Thousands of workers at hospitals, schools and railways across Sri Lanka have gone on strike to protest against high costs of living, including increased taxes imposed as a precondition for an International Monetary Fund bailout, amid the country’s worst financial crisis in decades. “Sri Lanka is at a very sensitive point and it is important for the public to understand …

Sri Lanka leader says IMF deal imminent after China’s pledge
1 year, 10 months ago

Sri Lanka leader says IMF deal imminent after China’s pledge

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka’s president said Tuesday that China has given crucial debt restructuring assurances that mean the bankrupt Indian Ocean nation could get its $2.9 billion bailout package approved soon. He said, however, that difficult economic reforms needed to be carried out as agreed with the IMF and Sri Lanka can’t afford to sidestep from them as …

Sri Lanka's central bank raises interest rates in anticipation of IMF bailout
1 year, 10 months ago

Sri Lanka's central bank raises interest rates in anticipation of IMF bailout

India TV News  

Sri Lanka's central bank on Friday decided to raise both deposit and lending interest rates in anticipation of the finalisation of a much-needed bailout facility from the IMF, the governor Nandalal Weerasinghe told reporters. “Given the necessity of fulfilling all the ‘prior actions’ in order to move forward with the finalisation of the IMF Extended Fund Facility arrangement, the Monetary …

Sri Lanka police fire tear gas at election protest; 15 injured
1 year, 10 months ago

Sri Lanka police fire tear gas at election protest; 15 injured

The Hindu  

Police in Sri Lanka on February 26, 2023 fired tear gas and water cannons to disperse protesters angry over a decision to postpone local elections after the government said it cannot finance them because of the country's crippling economic crisis. Thousands of supporters of the Opposition National People's Power party tried to march toward the main business district in capital …

Sri Lanka police fire tear gas at election protest; 15 hurt
1 year, 10 months ago

Sri Lanka police fire tear gas at election protest; 15 hurt

Associated Press  

COLOMBO, Sri Lanka — Police in Sri Lanka on Sunday fired tear gas and water cannons to disperse protesters angry over a decision to postpone local elections after the government said it cannot finance them because of the country’s crippling economic crisis. Thousands of supporters of the opposition National People’s Power party tried to march toward the main business district …

Sri Lanka bankruptcy to last until 2026: president
1 year, 11 months ago

Sri Lanka bankruptcy to last until 2026: president

Firstpost  

Tax increases and the removal of fuel and electricity subsidies have been unpopular among Sri Lanka’s public, already hit hard by the crisis and rampant inflation Colombo: Sri Lanka’s president said Wednesday the island nation will remain bankrupt for at least three more years as he works to repair battered government finances following an unprecedented economic crisis. I want to …

Sri Lanka says debt-restructuring talks making progress
1 year, 11 months ago

Sri Lanka says debt-restructuring talks making progress

Associated Press  

COLOMBO, Sri Lanka — Debt-stricken Sri Lanka’s Central Bank chief said Wednesday that the country is making good progress in talks with its creditors to obtain financial assurances for debt restructuring, an important step toward finalizing an International Monetary Fund rescue plan. “Other bilateral creditors, Paris Club, China and small bilateral creditors are in the process of issuing financial assurances,” …

India’s helping hand for Sri Lanka | The View From India
1 year, 11 months ago

India’s helping hand for Sri Lanka | The View From India

The Hindu  

India last week became the first of Sri Lanka’s creditors to officially back the crisis-hit country’s debt restructuring programme by sending financial assurances to the International Monetary Fund. The IMF has made its $2.9-billion package for Sri Lanka contingent on “receiving financing assurances from the island nation’s official creditors. India’s External Affairs Minister S. Jaishankar, who visited Colombo on January …

Debt restructuring talks with India and China successful, says Sri Lankan President Wickremesinghe
1 year, 11 months ago

Debt restructuring talks with India and China successful, says Sri Lankan President Wickremesinghe

Firstpost  

The announcement comes in the wake of External Affairs Minister S Jaishankar’s three-day visit to Maldives and Sri Lanka starting today. Colombo: Sri Lankan President Ranil Wickremesinghe on Tuesday informed the parliament that talks with India and China on debt restructuring are successful. “We are continuing discussions in that regard and I am pleased to announce to this House that …

Sri Lanka urged to free student activist held over protests
1 year, 11 months ago

Sri Lanka urged to free student activist held over protests

Associated Press  

COLOMBO, Sri Lanka — Human rights groups urged Sri Lanka’s government to release a prominent student activist who was arrested five months ago during anti-government protests triggered by the country’s worst economic crisis and has been held without charges under harsh anti-terrorism laws. Seven human rights groups, including Amnesty International and Human Rights Watch, said that under the powerful Prevention …

Explained: India's big role in helping Sri Lanka tide over its worst-ever economic crisis
1 year, 11 months ago

Explained: India's big role in helping Sri Lanka tide over its worst-ever economic crisis

Firstpost  

India emerged as the top bilateral lender to Sri Lanka in 2022 as the island nation declared bankruptcy and defaulted on its $51 billion foreign debt. Let’s have a closer look at how India has been at the centre of providing aid to crisis-hit Sri Lanka despite the island nation’s growing ties with China. China takes a back seat While …

India expected to send ‘positive’ message on debt during Jaishankar’s visit to Sri Lanka
1 year, 11 months ago

India expected to send ‘positive’ message on debt during Jaishankar’s visit to Sri Lanka

The Hindu  

External Affairs Minister S. Jaishankar’s visit to Colombo on Thursday will focus on “supporting Sri Lanka” in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka’s debt. Announcing the visit by EAM Jaishankar, Sri Lankan President Ranil Wickremesinghe …

Sri Lanka’s government cuts expenses as economy tanks
1 year, 11 months ago

Sri Lanka’s government cuts expenses as economy tanks

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka’s government said Tuesday it was cutting down expenses in the latest austerity drive to help it recover from its worst economic crisis. He said that the government was “trying its best to curtail other expenses too.” Sri Lanka’s Parliament last month approved a 5.82 trillion rupee budget, which provides for the restructuring of state-owned …

Discover Related