Sri Lanka’s Finance Minister to visit New Delhi for talks on further assistance
2 years, 9 months ago

Sri Lanka’s Finance Minister to visit New Delhi for talks on further assistance

The Hindu  

Sri Lanka’s Finance Minister Basil Rajapaksa will visit New Delhi later this month, Indian authorities said, following his telephone conversation with External Affairs Minister Jaishankar on Monday, amid a severe economic meltdown stifling the island nation. This would be Mr. Rajapaksa’s second visit amid Sri Lanka’s unprecedented economic crisis, marked by a fuel and food shortages, and long power cuts across the country. He was in India early in December, when the two countries agreed on a four–pronged plan that included emergency lines of credit and a currency swap to boost Sri Lanka’s fast–draining foreign reserves. Late on Monday, Sri Lanka’s Central Bank devalued the rupee by 15%, setting an exchange rate limit of LKR 230 against the dollar, increasing it from 200-203 that prevailed since October 2021.

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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 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 unveils measures to help Lankan economy recover
1 week, 1 day ago

India unveils measures to help Lankan economy recover

Hindustan Times  

New Delhi New Delhi: President Droupadi Murmu with Sri Lankan President Anura Kumara Dissanayake during a banquet hosted by her in his honour at Rashtrapati Bhavan, in New Delhi, Monday. India on Monday unveiled a slew of measures to boost development and physical and energy connectivity with Sri Lanka, with Prime Minister Narendra Modi assuring President Anura Kumara Dissanayake of …

'Won't let anyone threaten India's security': Sri Lankan president's promise to PM Modi
Top News
1 week, 1 day ago

'Won't let anyone threaten India's security': Sri Lankan president's promise to PM Modi

Hindustan Times  

In a powerful display of commitment to defence cooperation, Sri Lanka on Monday officially assured New Delhi that it will not permit any force to use its territory to “threaten India's security” in any manner. Sri Lanka's President Anura Kumara Dissanayake and India's Prime Minister Narendra Modi in New Delhi. This pledge was reiterated by newly elected Sri Lankan president …

‘Sri Lanka’s Territory Wouldn’t Be Used Against India’s Security Interests’: President Dissanayake After Meeting PM Modi
1 week, 1 day ago

‘Sri Lanka’s Territory Wouldn’t Be Used Against India’s Security Interests’: President Dissanayake After Meeting PM Modi

ABP News  

Sri Lankan President Anura Kumara Dissanayake, during his maiden overseas visit to India, assured New Delhi that Sri Lanka's territory would not be used against India’s security interests. “It is a privilege to visit India on my first overseas trip as President and I am grateful to PM @narendramodi for supporting Sri Lanka during the economic crisis and for aiding …

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 …

Sri Lanka’s Dissanayake meets Modi: ‘Won’t allow our land to be used against India’s interests’
Trending News
1 week, 1 day ago

Sri Lanka’s Dissanayake meets Modi: ‘Won’t allow our land to be used against India’s interests’

Firstpost  

After holding a bilateral meeting with PM Modi in New Delhi, Sri Lankan President Dissanayake said: ‘I have given an assurance to the Prime Minister of India that we will not allow our land to be used in any way in a manner that is detrimental to the interest of India’ Sri Lankan President Anura Kumara Dissanayake, on Monday, assured …

Modi holds talks with Sri Lankan President Disanayaka
1 week, 1 day ago

Modi holds talks with Sri Lankan President Disanayaka

Deccan Chronicle  

New Delhi: Prime Minister Narendra Modi on Monday held extensive talks with Sri Lankan President Anura Kumara Disanayaka, focusing on further shoring up India-Sri Lankan cooperation in a range of areas, including defence, trade and investment.The Sri Lankan leader arrived in Delhi on Sunday, his first foreign trip after becoming president in September. "An extensive agenda encompassing trade, investment, development …

Sri Lanka president visits India in first overseas trip, to meet PM Modi later today
1 week, 1 day ago

Sri Lanka president visits India in first overseas trip, to meet PM Modi later today

Hindustan Times  

Sri Lankan President Anura Kumara Dissanayake was in India Monday for his first overseas visit as head of state, vowing to bolster ties between the neighbours. Leftist Anura Kumara Dissanayake came to power in Sri Lanka in September 2024. Leftist Dissanayake, who came to power in September on a pledge to fight corruption, is expected to meet Indian Prime Minister …

Sri Lanka's land won't be used against India, President Dissanayake assures PM
1 week, 2 days ago

Sri Lanka's land won't be used against India, President Dissanayake assures PM

India Today  

In a big statement during his maiden New Delhi visit as Sri Lankan President, Anura Kumara Disanayaka on Monday assured Prime Minister Narendra Modi that the island nation will not let its territory be used in any manner inimical to the security of India. "Some bilateral agreements were exchanged today and I also invite honourable Prime Minister Narendra Modi to …

Sri Lankan President Dissanayake meets PM Modi on his first foreign visit, thanks India for financial aid
1 week, 2 days ago

Sri Lankan President Dissanayake meets PM Modi on his first foreign visit, thanks India for financial aid

New Indian Express  

NEW DELHI: Sri Lankan President Anura Kumara Dissanayake met Prime Minister Narendra Modi on Monday in his first foreign visit after assuming office, ahead of going to China next month. In his meeting with Prime Minister Narendra Modi, Dissanayake thanked India for the $4 billion financial assistance and also acknowledged India’s support in Sri Lanka’s debt restructuring. President Dissanayake thanked …

Sri Lankan President Dissanayake begins India visit with talks on trade, security
1 week, 2 days ago

Sri Lankan President Dissanayake begins India visit with talks on trade, security

Firstpost  

The Indian Ministry of External Affairs described the visit as an opportunity to deepen the relationship between India and Sri Lanka, New Delhi’s closest maritime neighbour in the Indian Ocean Sri Lankan President Anura Kumara Dissanayaka held discussions with Indian External Affairs Minister S. Jaishankar and National Security Adviser Ajit Doval on Sunday, marking the start of his three-day visit …

Budget travel guide: How to visit Sri Lanka in less than ₹1 lakh
2 weeks, 4 days ago

Budget travel guide: How to visit Sri Lanka in less than ₹1 lakh

Hindustan Times  

A tiny teardrop of an island, Sri Lanka is not only a quick getaway from India, it also offers a million options to the travellers - historic towns, tea plantations, beaches, ancient temples and forts, and wildlife reserves. Scale Sigiriya rock fortress: A UNESCO World Heritage site, the ruins of Sigiriya fortress sit atop a 200m-high rock in Central Province; …

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

India, Sri Lanka Discuss Economic Cooperation and Debt Relief
2 months, 2 weeks ago

India, Sri Lanka Discuss Economic Cooperation and Debt Relief

Hindustan Times  

New Delhi, India - External Affairs Minister S Jaishankar met with Sri Lanka's new President Anura Kumara Dissanayake during his visit to Colombo. During the meeting, Jaishankar discussed ongoing development assistance, energy production, and security matters between the two countries. He also extended an invitation for Prime Minister Narendra Modi to visit India, highlighting India's commitment to bilateral cooperation.

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 …

Jaishankar meets Dissanayake and PM Amarasuirya, assures India's continued support in Sri Lanka's economic rebuilding
2 months, 3 weeks ago

Jaishankar meets Dissanayake and PM Amarasuirya, assures India's continued support in Sri Lanka's economic rebuilding

New Indian Express  

COLOMBO: External Affairs Minister S Jaishankar on Friday met Sri Lankan President Anura Kumara Dissanayake and discussed “ways to deepen ongoing cooperation and strengthen India-Sri Lanka ties,” and assured India's continued support to the island nation's economic rebuilding. Jaishankar is the first foreign dignitary to visit Sri Lanka since the National People's Power government led by Dissanayake came to power …

JVP victory and its effect on the Lankan economy
3 months ago

JVP victory and its effect on the Lankan economy

Hindustan Times  

The victory of Anura Kumara Dissanayake, leader of the Marxist-Leninist Janatha Vimukthi Peramuna, has the potential to destablise Sri Lanka’s fragile economy. Having become the first Asian nation in at least three decades to default on its sovereign debt in April 2022, Sri Lanka’s economy had been painfully restored to stability by outgoing President Ranil Wickremasinghe, while remaining vitally dependent …

Sri Lanka: The country famed for pristine beaches and ancient temples hoping to rebuild tourism
3 months, 2 weeks ago

Sri Lanka: The country famed for pristine beaches and ancient temples hoping to rebuild tourism

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery A foreigner sits outside the Diary King home-made ice cream shop, in Galle, Sri Lanka August …

Sri Lanka cuts rates by 25 basis points to foster growth
5 months ago

Sri Lanka cuts rates by 25 basis points to foster growth

The Hindu  

Sri Lanka's central bank cut interest rates by 25 basis points in a surprise decision on July 24 to support economic growth and propel the South Asian nation out of its worst financial crisis in decades. The Central Bank of Sri Lanka reduced the Standing Deposit Facility Rate to 8.25% and the Standing Lending Facility Rate to 9.25%, it said …

Jaishankar reviews India-backed energy, connectivity projects during Colombo visit
6 months ago

Jaishankar reviews India-backed energy, connectivity projects during Colombo visit

The Hindu  

External Affairs Minister S. Jaishankar on Thursday undertook a day-long visit to Colombo and discussed progress on key energy sector initiatives that India and Sri Lanka have agreed to jointly undertake. In his first bilateral visit abroad after being re-appointed to the post in the newly installed coalition government, EAM Jaishankar focused mostly on progress made in the implementation of …

EAM Jaishankar arrives in Sri Lanka to hold talks with country's leadership
6 months ago

EAM Jaishankar arrives in Sri Lanka to hold talks with country's leadership

Hindustan Times  

External Affairs Minister S Jaishankar arrived in Sri Lanka on Thursday, his first visit here in his second consecutive term in office, during which he will hold talks with the country's leadership to bolster bilateral ties. The trip to Sri Lanka will be Jaishankar's standalone bilateral visit after he assumed charge as the external affairs minister for the second term …

EAM Jaishankar arrives in Sri Lanka, unveils projects with President Wickremesinghe
6 months ago

EAM Jaishankar arrives in Sri Lanka, unveils projects with President Wickremesinghe

The Hindu  

External Affairs Minister S. Jaishankar arrived in Sri Lanka on Thursday, June 20, 2024, his first visit here in his second consecutive term in office, during which he will hold talks with the country's leadership to bolster bilateral ties. Mr. Jaishankar and Sri Lankan President Ranil Wickremesinghe jointly unveiled the virtual plaque to mark the formal commissioning of the Maritime …

PhonePe Collaborates With LankaPay To Enable Payments Using UPI Across Sri Lanka | ABP News
7 months ago

PhonePe Collaborates With LankaPay To Enable Payments Using UPI Across Sri Lanka | ABP News

ABP News  

India's fintech major PhonePe has teamed up with LankaPay to enable its users to make payments using UPI across Sri Lanka. Announcing the partnership at a mega event organised in Colombo, PhonePe said that its app users travelling to Sri Lanka will be able to make payments using UPI across LankaPay QR merchants. "From Sri Lanka standpoint perspective if you …

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’s Financial Crisis Gradually Easing: Ranil Wickremesinghe
10 months, 2 weeks ago

Sri Lanka’s Financial Crisis Gradually Easing: Ranil Wickremesinghe

News 18  

Cash-strapped Sri Lanka is “gradually” emerging from its worst economic crisis after the austerity of an IMF bailout, the president said Sunday in a speech to mark independence day. Sri Lanka saw months of civil unrest at the peak of the economic crisis, culminating in the ouster of then-president Gotabaya Rajapaksa when thousands of protesters stormed his home. The International …

Sri Lanka raises fuel retail prices; first under new VAT hike
11 months, 3 weeks ago

Sri Lanka raises fuel retail prices; first under new VAT hike

The Hindu  

The Sri Lankan Government raised retail fuel prices by ₹20 effective from January 1 in its monthly revision, making it the first retail price hike of any commodity under the imposition of new Value-Added Tax rates. Sri Lanka's VAT rate has been increased by 3% from January 1 for the band, which was previously taxed at 15%, while most VAT-exempt …

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 approves free tourist visas for visitors from India, six other countries
1 year, 2 months ago

Sri Lanka approves free tourist visas for visitors from India, six other countries

The Hindu  

Sri Lanka on October 24 waived visa fee for Indians and tourists from six other countries, as part of its efforts to boost tourist arrivals and help rebuild the island nation’s battered economy following last year’s financial crash. As part of its decisions this week, the Cabinet announced implementation of a pilot project to issue free tourist visas to tourists …

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 …

Sri Lanka Woos Indian Travellers with Weak Currency
1 year, 4 months ago

Sri Lanka Woos Indian Travellers with Weak Currency

Deccan Chronicle  

Sri Lanka is as safe as any tourist place in the world. We were building back and then things stopped a little bit last year with some news of unrest coming out of Sri Lanka about 15 months ago. India is now the number one source of tourists for Sri Lanka. Tourism directly or indirectly supports two million people in …

Economic crisis-hit Sri Lanka repays $50 million loan instalment to Bangladesh after two years
1 year, 4 months ago

Economic crisis-hit Sri Lanka repays $50 million loan instalment to Bangladesh after two years

Firstpost  

In August 2021, in a bid to alleviate Sri Lanka’s foreign exchange crisis, Bangladesh extended a lifeline in the form of a $200 million loan from its foreign exchange reserves Cash-strapped Sri Lanka has paid the first instalment of $50 million against a loan obtained from Bangladesh under a currency swap agreement in August 2021. In August 2021, in a …

Sri Lanka on path of economic recovery: FM Shehan Semasinghe
1 year, 4 months ago

Sri Lanka on path of economic recovery: FM Shehan Semasinghe

The Hindu  

Shehan Semasinghe, State Minister of Finance Sri Lanka, said the island nation is on a recovery path after the worst economic crisis it faced in 2022, and there are opportunities for investors to take part in its growth story. The Sri Lanka government has embarked on a slew of reforms to tide over the crisis in the last 15 months, …

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 …

Focus on joint projects during Sri Lankan President Ranil Wickremesinghe’s India visit
1 year, 5 months ago

Focus on joint projects during Sri Lankan President Ranil Wickremesinghe’s India visit

The Hindu  

Sri Lankan President Ranil Wickremesinghe on July 20 arrived in India for an official visit, a year after he became President of the Island nation that witnessed its worst economic crisis last year. During Sri Lanka’s dramatic economic crash last year, India extended emergency financial support of about $4 billion, providing relief at a time when citizens struggled amid critical …

Sri Lankan President Wickremesinghe arrives in India; boosting cooperation on energy connectivity on agenda
1 year, 5 months ago

Sri Lankan President Wickremesinghe arrives in India; boosting cooperation on energy connectivity on agenda

India TV News  

Sri Lankan President Ranil Wickremesinghe on Thursday arrived in Delhi on a two-day official visit to India. Taking to his official Twitter handle, Ministry of External Affairs official spokesperson Arindam Bagchi noted that Wickremesinghe's visit will further boost the multi-prolonged partnership between India and Sri Lanka. During his visit, President Wickremesinghe will meet his Indian counterpart Droupadi Murmu and discuss …

Sri Lanka not averse to using Indian rupee as common currency: President Wickremesinghe
1 year, 5 months ago

Sri Lanka not averse to using Indian rupee as common currency: President Wickremesinghe

The Hindu  

Sri Lanka would want to see the Indian rupee used as much as the U.S. dollar, President Ranil Wickremesinghe has said, days ahead of his first official visit to New Delhi. “Just as East Asia, including countries like Japan, Korea and China, witnessed significant growth 75 years ago, it is now India’s turn, along with the Indian Ocean region," Mr. …

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 …

Sri Lankan President Wickremesinghe to visit India on July 21
1 year, 5 months ago

Sri Lankan President Wickremesinghe to visit India on July 21

The Hindu  

Sri Lankan President Ranil Wickremesinghe will embark on a two-day visit to India on July 21 during which he is expected to meet Prime Minister Narendra Modi, officials here said on July 9. This will be Mr. Wickremesinghe’s first visit to India since being appointed President of the cash-strapped country last year following the ouster of Gotabaya Rajapaksa in a …

India says it will continue to support Sri Lanka in overcoming its financial crisis
1 year, 5 months ago

India says it will continue to support Sri Lanka in overcoming its financial crisis

The Hindu  

India has reiterated its willingness to play "a constructive role" in supporting Sri Lanka's efforts for recovery from the worst economic crisis. In May this year, 17 countries that have extended loans to Sri Lanka formed an official creditor committee' co-chaired by India, Japan, and France, to discuss Sri Lanka’s request for debt treatment. Mr. Jacob said India’s financial and …

IMF says Sri Lanka’s economic recovery shows signs of improvement but challenges remain
1 year, 6 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. …

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 …

Sri Lankan envoy Moragoda stresses importance of economic integration with India
1 year, 8 months ago

Sri Lankan envoy Moragoda stresses importance of economic integration with India

Hindustan Times  

NEW DELHI: Sri Lankan high commissioner Milinda Moragoda stressed the importance of economic integration between Sri Lanka and India while addressing the Economic Advisory Council to the Prime Minister on Wednesday. Sri Lankan high commissioner Milinda Moragoda addressed the Economic Advisory Council to the Prime Minister of India at the invitation of its chairman, Bibek Debroy. Moragoda stressed the importance …

Sri Lanka clears global oil giants’ entry into retail fuel market
1 year, 8 months ago

Sri Lanka clears global oil giants’ entry into retail fuel market

The Hindu  

Sri Lanka on March 27 decided to award licences to three global oil companies to operate in the domestic retail market as part of the government’s efforts to restructure State-Owned Enterprises, including the loss-making Ceylon Petroleum Corporation. The three companies will each be allocated 150 dealer-operated fuel stations, currently operated by the state-owned Ceylon Petroleum Corporation, and obtain 20-year licences …

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, …

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 …

Jaishankar holds bilateral meetings with Foreign Ministers of Sri Lanka, Armenia
1 year, 9 months ago

Jaishankar holds bilateral meetings with Foreign Ministers of Sri Lanka, Armenia

Firstpost  

Jaishankar reviewed bilateral and multilateral partnerships with Foreign Minister of Armenia Ararat Mirzoyan on the sidelines of the Raisina Dialogue. New Delhi: External Affairs Minister S Jaishankar on Saturday held bilateral meetings with his counterparts from Sri Lanka and Armenia who were here to attend Raisina Dialogue. Jaishankar met Foreign Minister of Sri Lanka Ali Sabry and held discussions on …

Sri Lanka Returns to Uninterrupted Power Supply After a Year; at Higher Cost
1 year, 10 months ago

Sri Lanka Returns to Uninterrupted Power Supply After a Year; at Higher Cost

News 18  

After a year of load-shedding, Sri Lankans will get continuous power from Thursday, albeit with a hike in tariff in line with the conditions set by the IMF. President Ranil Wickremesinghe has directed officials to ensure an uninterrupted power supply to customers after the tariff revision is implemented, a statement from the President’s Media Division said. The state power entity …

Sri Lanka hikes power prices by 66% hoping to ensure IMF bailout
1 year, 10 months ago

Sri Lanka hikes power prices by 66% hoping to ensure IMF bailout

Firstpost  

The IMF has agreed to lend Sri Lanka $2.9 billion in September to overcome its worst financial crisis in seven decades, but the bailout comes with conditions that include raising taxes, removing subsidies and cutting public sector debt Colombo: Amid a full-blown economic crisis, Sri Lanka on Thursday raised electricity prices by 66%, in a move that the government hopes …

Union Minister Muraleedharan to Begin Two-day Visit to Sri Lanka from Friday
1 year, 10 months ago

Union Minister Muraleedharan to Begin Two-day Visit to Sri Lanka from Friday

News 18  

Minister of State for External Affairs V Muraleedharan will pay a two-day visit to Sri Lanka beginning Friday, in reflection of deeper bilateral engagement at a time the island nation is reeling under an economic crisis. The trip by Muraleedharan to Colombo comes nearly two weeks after External Affairs Minister S Jaishankar visited Sri Lanka. “At the invitation of the …

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