How India Can Act As a Net Security Provider During the Sri Lanka Crisis
2 years, 7 months ago

How India Can Act As a Net Security Provider During the Sri Lanka Crisis

The Quint  

Delhi was certainly prompt in providing the first tranche of credit lines for the struggling country, well before it slid into chaos. A new Line of Credit of USD 500 million was extended to Sri Lanka by the Indian government for importing fuel from India. But Sri Lanka had declared its worst economic crisis in early 2021, with analysts noting a steep rise in debt from 2005 onwards, from USD 11.3 billion in 2005, to USD 56.3 billion in 2020. It is understood that India has committed to help Sri Lanka with a bailout plan from the World Bank, and Finance Minister Nirmala Sitharaman had met with Sri Lankan Finance Minister Ali Sabry in Washington during the Spring meetings in April. Perhaps, then, that advice or assistance could come from a third country like Japan, already one of the largest lenders to Sri Lanka.

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History of this topic

How Dissanayake’s Delhi visit is a show of India's diplomatic deftness
Trending News
1 week, 1 day ago

How Dissanayake’s Delhi visit is a show of India's diplomatic deftness

Firstpost  

This visit has demonstrated that even in challenging times, with careful planning and mutual respect, diplomacy can achieve remarkable outcomes Sri Lankan President Anura Kumar Dissanayake’s recent visit to India has been widely regarded as a landmark in fostering stronger bilateral relations between the two neighbours. Tradition Meets Pragmatism One of the noteworthy aspects of the visit was President Dissanayake’s …

India, Sri Lanka decide to ramp up defence, energy, trade ties
1 week, 1 day ago

India, Sri Lanka decide to ramp up defence, energy, trade ties

The Hindu  

India and Sri Lanka Monday adopted a futuristic vision to expand their partnership, resolved to soon conclude a defence cooperation pact and decided to ramp up energy ties by establishing electricity grid connectivity and multi-product petroleum pipelines. Prime Minister Modi said both sides decided to emphasise investment-led growth and connectivity for the India-Sri Lanka economic partnership, and it was decided …

India’s foreign minister becomes the first such dignitary to visit Sri Lanka since the election
2 months, 2 weeks 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 …

Sri Lanka inks pacts with OCC, China to restructure debt
5 months, 3 weeks ago

Sri Lanka inks pacts with OCC, China to restructure debt

Hindustan Times  

New Delhi: Sri Lanka on Wednesday signed separate debt restructuring agreements with the Official Creditors Committee, a group co-chaired by India, and China’s Exim Bank, with New Delhi saying it will continue supporting Colombo’s economic recovery through long-term investments. The Official Creditors Committee is co-chaired by India After the International Monetary Fund’s approval of an extended fund facility for Sri …

Sri Lanka reaches deal on debt restructuring with bilateral creditors including China and France
5 months, 4 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 Lankan president says he is seeking to defer loan payments until 2028 amid economic crisis
9 months, 2 weeks 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 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 {{ …

No ‘political strings attached’ to China’s support for Sri Lanka: Xi tells Ranil
1 year, 2 months ago

No ‘political strings attached’ to China’s support for Sri Lanka: Xi tells Ranil

The Hindu  

China will continue to assist Sri Lanka without any “political strings attached” and help the country cope with difficulties, President Xi Jinping told his Sri Lankan counterpart Ranil Wickremesinghe on Friday, according to an official statement, even as Colombo attempts to finalise a debt treatment plan with its creditors, including the Asian giant. Noting that Sri Lanka was among the …

Confusion over Sri Lanka granting permission to Chinese survey vessel in October
1 year, 3 months ago

Confusion over Sri Lanka granting permission to Chinese survey vessel in October

Hindustan Times  

Confusion prevails in Sri Lanka over granting permission to Chinese Research vessel Shi Yan 6 to conduct ocean survey off the island nation in October after New Delhi raised its serious concerns with the Ranil Wickremesinghe government. India has officially raised concerns to Sri Lanka for allowing a free run to Chinese survey, surveillance and ballistic missile trackers ships at …

Still incomplete: on India-Sri Lanka ties and their vision
1 year, 5 months ago

Still incomplete: on India-Sri Lanka ties and their vision

The Hindu  

With a joint statement on economic cooperation, India and Sri Lanka outlined a forward-looking vision for their relations. The statement, entitled “Promoting Connectivity, Catalysing Prosperity: India-Sri Lanka Economic Partnership Vision”, released after talks between Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe in Delhi last week, lays out the vision in five areas: maritime, air, energy, trade and …

How India has revamped its approach to engage with Sri Lanka amid China's growing presence in the Indo-Pacific Region
1 year, 5 months ago

How India has revamped its approach to engage with Sri Lanka amid China's growing presence in the Indo-Pacific Region

Firstpost  

India’s accelerated overtures to Sri Lanka in the past few years are emblematic of its engagements in the wider Indo-Pacific Region Sri Lankan President Ranil Wickremesinghe’s visit to India on 20-21 July came at a time when the ties between the two neighbours have been in flux for the past few years. India’s strategic engagements with Sri Lanka gained traction …

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 …

India Continues To Help Sri Lanka Stand Economically, But Colombo’s Love For Beijing Keeps Soaring
1 year, 5 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 …

India Extends $1 Billion Credit Line To Sri Lanka For Another Year Amid Economic Crisis
1 year, 6 months ago

India Extends $1 Billion Credit Line To Sri Lanka For Another Year Amid Economic Crisis

ABP News  

In a move to assist Sri Lanka in overcoming its severe economic crisis, India has extended its under-utilized USD 1 billion credit line for an additional year. The agreement between the State Bank of India and the Sri Lankan government was initially signed in March of last year, during the height of the country's economic turmoil. The Indian High Commission …

India extends $1-bn credit facility for Sri Lanka by one year
1 year, 6 months ago

India extends $1-bn credit facility for Sri Lanka by one year

Hindustan Times  

NEW DELHI: India on Tuesday extended by a year a $1-billion credit facility provided to the Sri Lankan government to cope with an economic crisis, with officials saying this was done in response to a request from Colombo. The credit facility was extended through the State Bank of India in response to a specific request from the Sri Lankan government …

India extends $1 billion credit line to Sri Lanka by another year
1 year, 6 months ago

India extends $1 billion credit line to Sri Lanka by another year

The Hindu  

India on May 30 extended its $1 billion credit line to Sri Lanka by another year to help the island nation hit hard by an unprecedented economic crisis procure much-needed food, medicine and other essential items. An agreement was signed between the State Bank of India and the Sri Lankan government for $1 billion credit facility in March last year. …

Crisis-hit Sri Lanka to see economic contraction in 2023: Report
1 year, 8 months ago

Crisis-hit Sri Lanka to see economic contraction in 2023: Report

Live Mint  

Crisis-hit Sri Lanka is estimated to see a contraction in its economic growth this year, according to Asian Development Bank data. The Washington-based financial body has recently approved a 48-month arrangement under the Extended Fund Facility of about USD 3 billion to support Sri Lanka's economic policies and reforms. The needed reforms, according to the development bank's Asian Development Outlook …

Sri Lanka slashes fuel prices in welcome relief amid crisis
1 year, 8 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 …

Sri Lanka uses part of Indian financial aid to buy textbooks for 4 million students
1 year, 9 months ago

Sri Lanka uses part of Indian financial aid to buy textbooks for 4 million students

Firstpost  

India announced a $1 billion line of credit to Sri Lanka last year as part of its financial aid to help the country deal with its economic crisis. Sri Lanka was hit by a financial crisis in 2022 that also sparked political turmoil in the island nation that led to the ouster of the Rajapaksa family Colombo: Sri Lanka has …

India helped Sri Lanka more than any other country during economic crisis: Lankan Foreign Minister Ali Sabry
1 year, 9 months ago

India helped Sri Lanka more than any other country during economic crisis: Lankan Foreign Minister Ali Sabry

India TV News  

Sri Lanka Foreign Minister Ali Sabry has praised India saying that New Delhi helped them more than any other country especially when they were going through its worst economic crisis. Speaking during Raisina Dialogue 'Ideas Pod', Sabry said that not just the Indian government came forward with bold decisions but even the Indian people came forward to support Sri Lanka. …

Economic crisis hit Sri Lanka mulling over using Indian Rupee for transactions
1 year, 9 months ago

Economic crisis hit Sri Lanka mulling over using Indian Rupee for transactions

India TV News  

Amid the economic turbulence, Sri Lanka is exploring the possibility of using the Indian Rupee for economic transactions. "Representatives from the Bank of Ceylon, State Bank of India and the Indian Bank shared their experiences and informed the audience that they had started carrying out INR-denominated trade transactions through respective Vostro/Nostro accounts after the creation of enabling framework by the …

China confirms offer to Sri Lanka of debt moratorium
1 year, 10 months ago

China confirms offer to Sri Lanka of debt moratorium

Associated Press  

BEIJING — China’s government on Friday confirmed it is offering Sri Lanka a two-year moratorium on loan repayments as the Indian Ocean island nation struggles to restructure $51 billion in foreign debt that pushed it into a financial crisis. China lent to Sri Lanka as part of Beijing’s multibillion-dollar Belt and Road Initiative to increase trade by building ports and …

IMF confirms receipt of India’s financing assurances for Sri Lanka
1 year, 11 months ago

IMF confirms receipt of India’s financing assurances for Sri Lanka

The Hindu  

The International Monetary Fund has confirmedreceiving India’s written financing assurance in support of Sri Lanka’s economic revival, Reuters news agency reported, while Sri Lanka has expressed hope of completing talks on debt restructuring in six months’ time. Meanwhile, speaking at an event in Colombo on Tuesday, Governor of the Central Bank of Sri Lanka P. Nandalal Weerasinghe said: “There has …

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 …

India did not wait, did what was right to help Sri Lanka: Jaishankar
1 year, 11 months ago

India did not wait, did what was right to help Sri Lanka: Jaishankar

The Hindu  

India did not wait for other bilateral creditors but did “what is right” for Sri Lanka’s economic recovery, visiting External Affairs Minister S. Jaishankar said on Friday, following talks with Sri Lankan President Ranil Wickremesinghe in Colombo. India is “a reliable neighbour, a trustworthy partner, one who is prepared to go the extra mile when Sri Lanka feels the need”, …

India to ‘encourage greater investments’ in crisis-hit Sri Lanka
1 year, 11 months ago

India to ‘encourage greater investments’ in crisis-hit Sri Lanka

Al Jazeera  

Sri Lanka’s worst-ever economic crisis is seeing a shortage of foreign currency, runaway inflation and a steep recession. “India will encourage greater investments in the Sri Lankan economy, especially in core areas like energy, tourism and infrastructure,” India’s Foreign Minister Subrahmanyam Jaishankar told reporters in Colombo on Friday. “We count on the government of Sri Lanka to provide a more …

India provides 75 buses to Sri Lanka to support public transport system
1 year, 11 months ago

India provides 75 buses to Sri Lanka to support public transport system

Deccan Chronicle  

COLOMBO: India has handed 75 passenger buses to Sri Lanka as part of its assistance towards strengthening public transport infrastructure in the cash-strapped country. As part of its 'Neighbourhood First' policy, India has extended multi-pronged assistance to Sri Lanka to help the country tide over its worst economic and humanitarian crisis since its independence from Great Britain in 1948. 500 …

India's response to Sri Lanka’s request for debt restructuring expected by January end: Ranil Wickremesinghe
1 year, 11 months ago

India's response to Sri Lanka’s request for debt restructuring expected by January end: Ranil Wickremesinghe

The Hindu  

President Ranil Wickremesinghe has said that India's response to cash-strapped Sri Lanka’s request for debt restructuring is expected by the end of this month. Sri Lanka had begun debt restructuring talks with its creditors since September last year as warranted by its agreement with the IMF for the $2.9 billion facility over four years. Sri Lanka awaiting assurances from India, …

Miffed With Recurring Chinese Spy Ship Visits, India Pushes Sri Lanka To 'Prioritise' Stalled Strategic Projects
2 years ago

Miffed With Recurring Chinese Spy Ship Visits, India Pushes Sri Lanka To 'Prioritise' Stalled Strategic Projects

ABP News  

New Delhi: India has expressed “serious concerns” over the visit of two Chinese ‘spy’ ships and New Delhi has urged Colombo to “prioritise” the key strategic infrastructure projects that are stuck due to domestic issues there, ABP Live has learnt. Expressing “serious threat” to India’s national security, the Narendra Modi government has told Sri Lanka to now push forward the …

Sri Lanka President plans to visit New Delhi to discuss his country's economic crisis
2 years, 2 months ago

Sri Lanka President plans to visit New Delhi to discuss his country's economic crisis

The Hindu  

Sri Lankan President Ranil Wickremesinghe announced in Parliament on Thursday that he hopes to visit New Delhi to discuss the island nation’s worst economic crisis. The President also said that Sri Lanka hoped to reach a common agreement with creditor nations including Japan, China, and India, adding that Japan was ready to assist the bankrupt nation in the reconciliation process. …

Sri Lanka’s Story of Sovereign Default
2 years, 3 months ago

Sri Lanka’s Story of Sovereign Default

The Diplomat  

Sri Lanka has been on a quite a ride this last year. The country defaulted on its foreign debt on April 12 and in July witnessed the resignation of an executive president – both for the first time in Sri Lanka’s history. The tax cuts resulted in a credit rating downgrade in December 2019, making it difficult for Sri Lanka …

Australia to Work with India to Provide Fuel to Sri Lanka's Navy, Airforce: Aus Envoy
2 years, 4 months ago

Australia to Work with India to Provide Fuel to Sri Lanka's Navy, Airforce: Aus Envoy

News 18  

Australia and India are working on providing fuel to crisis-hit Sri Lanka’s Navy and Air force, Australia’s High Commissioner to Sri Lanka Paul Stephens said on Monday, emphasising that all three countries share a commitment towards preserving regional security in the strategic Indian Ocean. Australia is pleased to be working with India to provide fuel to Sri Lanka’s navy and …

India Extended 8 Lines of Credit Worth $1850.64 Mn to Sri Lanka in the Last 10 years, Lok Sabha Told
2 years, 5 months ago

India Extended 8 Lines of Credit Worth $1850.64 Mn to Sri Lanka in the Last 10 years, Lok Sabha Told

News 18  

Union external affairs minister S Jaishankar told the Lok Sabha on Friday that India extended eight Lines of Credit to Sri Lanka amounting to $1850.64 million in the last ten years. !Here are some numbers… https://t.co/804I636bAP— India in Sri Lanka July 21, 2022 The external affairs minister also said that in January 2022 India extended a $400 million currency swap …

China Missing, West Falls Short as India Stands By Sri Lanka in its Darkest Hour
2 years, 5 months ago

China Missing, West Falls Short as India Stands By Sri Lanka in its Darkest Hour

News 18  

With China and the West paying mere lip service to the crisis-hit nation island nation, Sri Lanka finds itself receiving concrete financial support from no one but India. Meanwhile, assistance from China or even for that matter, the West, whose investments in Sri Lanka make up a large part of Sri Lanka’s external debt burden today, dwarves in comparison to …

‘Advantage New Delhi’ in Sri Lanka’s India lifeline
2 years, 5 months ago

‘Advantage New Delhi’ in Sri Lanka’s India lifeline

The Hindu  

Ranil Wickremesinghe’s election as the President of Sri Lanka in a crucial Parliament vote on July 20, 2022, gives India an opportunity to take the lead in the foreign aid game in its neighbourhood. Opportunity for India India was the first responder to Sri Lanka’s desperate calls for foreign aid to help tackle its crippling debt and economic crisis. Moreover, …

We Will Continue to Support People of Sri Lanka, Says India
2 years, 5 months ago

We Will Continue to Support People of Sri Lanka, Says India

News 18  

As the new Sri Lankan president looks at pulling the country out of its economic crisis, India on Thursday said it will continue to assist the island nation and support its people in their quest for stability and prosperity through democratic means. “We have been at the forefront of extending economic assistance to Sri Lanka as per what they require,” …

In Sri Lanka, the crisis is not over, yet
2 years, 5 months ago

In Sri Lanka, the crisis is not over, yet

Hindustan Times  

Sri Lankan parliamentarians have placed the onerous task of pulling their country out of its worst economic crisis and restoring order and stability squarely on the shoulders of Ranil Wickremesinghe, who was elected the new president more because of the support he enjoys from former President Gotabaya Rajapaksa’s party than his economic credentials and his role in past economic reforms. …

India Assures Continued Support To Democracy, Stability And Economic Recovery In Sri Lanka
2 years, 5 months ago

India Assures Continued Support To Democracy, Stability And Economic Recovery In Sri Lanka

ABP News  

New Delhi: As Sri Lanka is facing its worst economic crisis in seven decades, India on Wednesday assured its neighbouring country that it will continue to be supportive of the quest of the people of Sri Lanka for stability and economic recovery, through democratic means and values, established democratic institutions and constitutional framework, said High Commission of India on microblogging …

India says Sri Lanka crisis severe, no spillover
2 years, 5 months ago

India says Sri Lanka crisis severe, no spillover

Deccan Chronicle  

New Delhi: External affairs minister S. Jaishankar told an all-party meeting here on Tuesday that Sri Lanka was facing “a very serious crisis” which makes India “naturally worried” about a “spillover” into this country. “The reason we took the initiative to request you all to join an all-party meeting was.that this is a very serious crisis and what we are …

Sri Lankan crisis is serious matter, India's focus is on helping them: EAM S Jaishankar
2 years, 5 months ago

Sri Lankan crisis is serious matter, India's focus is on helping them: EAM S Jaishankar

India Today  

External Affairs Minister S Jaishankar on Sunday called the economic crisis in Sri Lanka a “serious matter” and said India’s focus at the moment is on helping them. Jaishankar said India had earlier given Sri Lanka a line of credit which kept essential commodities flowing to them for the past several months. India denies reports of sending troops to Sri …

Amid escalating Colombo crisis, India vows it will \'stand with people of Sri Lanka\'
2 years, 5 months ago

Amid escalating Colombo crisis, India vows it will \'stand with people of Sri Lanka\'

Deccan Chronicle  

New Delhi: As Sri Lanka battles an unprecedented economic and political crisis, the Government of India declared on Sunday that it “stands with the people of Sri Lanka” and that it was closely monitoring the evolving situation in the island nation. India stands with the people of Sri Lanka as they seek to realise their aspirations for prosperity and progress …

Gotabaya turns to Putin for urgent fuel supplies for Sri Lanka
2 years, 5 months ago

Gotabaya turns to Putin for urgent fuel supplies for Sri Lanka

The Hindu  

The Sri Lankan President on Wednesday reached out to his Russian counterpart Vladimir Putin, seeking urgent credit for fuel imports for the crisis-hit island nation, even as Colombo negotiates a support package with the Washington-headquartered International Monetary Fund. — Gotabaya Rajapaksa July 6, 2022 Sri Lanka ran out of fuel last week, and the government said it was suspending fuel …

Significant progress in talks with Sri Lanka: IMF
2 years, 5 months ago

Significant progress in talks with Sri Lanka: IMF

The Hindu  

The International Monetary Fund on Thursday said it has made“significant progress” in talks with Sri Lanka, which has sought the global financial institution’s help to cope with its unprecedented economic crisis. Concluding a ten-day visit to the island nation, an IMF team said: “Significant progress was made, and discussions will continue virtually towards reaching a staff-level agreement on the EFF …

Sri Lanka crisis gives India chance to gain sway vs China
2 years, 5 months ago

Sri Lanka crisis gives India chance to gain sway vs China

Associated Press  

NEW DELHI — Sri Lanka’s strategic location has attracted outsized interest in the small island nation from regional giants China and India for more than a decade, with Beijing and its free-flowing loans and infrastructure investments widely seen as having gained the upper hand in the quest for influence. “The intent is to drive China away from India’s backyard and …

Sri Lanka runs out of fuel, comes to a near-standstill
2 years, 5 months ago

Sri Lanka runs out of fuel, comes to a near-standstill

The Hindu  

Cash-strapped Sri Lanka suspended nationwide fuel sales, except for essential services, for nearly a fortnight as the island faces a rapidly worsening economic crisis. Colombo turns to India Sri Lanka’s High Commissioner to India, Milinda Moragoda on Monday met Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri in New Delhi to discuss the possibility of “securing petrol and …

Sri Lanka runs out of fuel, suspends sales for two weeks
2 years, 5 months ago

Sri Lanka runs out of fuel, suspends sales for two weeks

The Hindu  

Cash-strapped Sri Lanka suspended nationwide fuel sales, except for essential services, for nearly a fortnight as the island faces a rapidly worsening economic crisis. Colombo turns to India Sri Lanka’s High Commissioner to India, Milinda Moragoda on Monday met Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri in New Delhi to discuss the possibility of “securing petrol and …

Indian officials in Sri Lanka for talks on ailing economy
2 years, 6 months ago

Indian officials in Sri Lanka for talks on ailing economy

Associated Press  

Senior Indian officials began talks Thursday with Sri Lankan leaders on economic assistance, a day after Prime Minister Ranil Wickremesinghe announced the country’s economy had “collapsed.” Sri Lankans have endured months of shortages of food, fuel and other necessities due to the country’s dwindling foreign exchange reserves and mounting debt, worsened by the pandemic and other longer term troubles. Indian …

Sri Lanka's economy has 'completely collapsed': Wickremesinghe
2 years, 6 months ago

Sri Lanka's economy has 'completely collapsed': Wickremesinghe

India Today  

Sri Lanka's economy has "completely collapsed" and it is facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food, Prime Minister Ranil Wickremesinghe warned on Wednesday, underscoring the urgency of arriving at an early agreement with the IMF to obtain an additional credit facility. Sri Lanka has been facing the worst economic crisis since …

Sri Lankan prime minister: Island’s economy ‘has collapsed’
2 years, 6 months ago

Sri Lankan prime minister: Island’s economy ‘has collapsed’

Associated Press  

COLOMBO, Sri Lanka — Sri Lanka’s debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity, the prime minister told lawmakers Wednesday in comments that underscored the country’s dire situation as it seeks help from international lenders. Wickremesinghe’s remarks also sent a message to potential lenders: “You can’t let a country of such strategic importance collapse,” said …

Sri Lanka | Protesters block entrances of Gotabaya's presidential secretariat, 21 arrested
2 years, 6 months ago

Sri Lanka | Protesters block entrances of Gotabaya's presidential secretariat, 21 arrested

The Hindu  

A group of protesters in Sri Lanka demanding the resignation of President Gotabaya Rajapaksa for the mismanagement of the economy blocked all entrances of the presidential secretariat here, forcing the police on Monday to arrest 21 people, including a Buddhist monk and four women. Two entry points blocked The protesters last night blocked the two entry points to the presidential …

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