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Sri Lanka Economic Crisis

Sri Lanka Crisis

China Assures Sri Lanka Of Its Help In Addressing Debt Challenges Before IMF's First Review

The International Monetary Fund (IMF) is set to conduct its first review of the USD 2.9 billion bailout granted to Sri Lanka in March this year from September 11-19

17 August 2023

World Bank

World Bank Approves $ 700 Million For Crisis-Hit Sri Lanka

Cash-strapped Sri Lanka is currently struggling with the worst economic crisis in history. Cash-strapped Sri Lanka is currently struggling with the worst economic crisis in history.

29 June 2023

Sri Lanka’s new Finance Minister Ali Sabry

Chinese And Sri Lankan Foreign Ministers Discuss Economic Crisis

The meeting took place amidst China's commitment to support Sri Lanka's economic and social development, while Sri Lanka grapples with its debt-ridden economy and seeks assistance from various sources.

25 June 2023

Sri Lanka-India

Sri Lanka Records Single-Digit Inflation For The First Time Since Economic Crisis: Official Data

In a statement, the Census and Statistics Office of the Sri Lankan government said that the overall rate of inflation as measured by the Colombo Consumer Price Index on a year-on-year basis is 6.3 per cent in July 2023 and...

01 August 2023

Sri Lanka Economic Crisis

Sri Lanka's Ruling Party MPs Told To Remain In Colombo Over Domestic Debt Restructuring Session In Parliament

Sri Lanka is currently negotiating with its external creditors on debt restructuring as required by the International Monetary Fund's bailout conditions.

26 June 2023

Sri Lanka Economic Crisis

Sri Lanka's Economy Shrinks 11.5% In First Quarter 2023: Government

Sri Lanka is currently facing the worst economic crisis in the history of the island nation

15 June 2023

Sri Lanka Economic Crisis

Sri Lanka Hopes China Will Come On Board With External Debt Restructuring

Sri Lanka approached the IMF for a bailout in April 2022 after declaring its first-ever debt default since independence in 1948

03 July 2023

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Sri Lanka Economic Crisis

Sri Lanka Lifts Import Restrictions On 286 Items As Economic Crisis Eases

Sri Lanka slapped a ban on the import of 300 consumer items like chocolates, perfumes, and shampoos in August last year

11 June 2023

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02 June 2023
Central Bank Of Sri Lanka Implements First Interest Rate Cut Since National Bankruptcy

Central Bank Of Sri Lanka Implements First Interest Rate Cut Since National Bankruptcy

In a significant move, the Central Bank of Sri Lanka has announced a reduction in interest rates, marking the first rate cut since the country declared...


01 June 2023
Sri Lanka Cuts Policy Rates To Reduce Inflation And Boost Economic Recovery

Sri Lanka Cuts Policy Rates To Reduce Inflation And Boost Economic Recovery

The Monetary Board of the Central Bank of Sri Lanka decided to cut the policy rate by 250 basis points, saying inflation was falling faster than expected


30 May 2023
India Extends USD 1 Billion Credit Line To Sri Lanka By Another Year

India Extends USD 1 Billion Credit Line To Sri Lanka By Another Year

An agreement was signed between the State Bank of India (SBI) and the Sri Lankan government for USD 1 billion credit facility in March last year


02 May 2023
Sri Lanka Banks Concerned Over Local Debt Restructuring, Seek Transparency From Government

Sri Lanka Banks Concerned Over Local Debt Restructuring, Seek Transparency From Government

Sri Lanka has introduced painful economic measures such as tax hikes and utility rate hikes to unlock the programme. Trade unions and opposition groups have...


14 April 2023
India, Japan And France Launch Common Platform For Sri Lankan Debt Restructuring Programme

India, Japan And France Launch Common Platform For Sri Lankan Debt Restructuring Programme

The island nation was hit by an unprecedented financial crisis in 2022, the worst since its independence from Britain in 1948, due to a severe paucity of...


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27 March 2023
Sri Lanka To Seek New $1 Billion Credit From India To Buy Essential Items: Reports

Sri Lanka To Seek New $1 Billion Credit From India To Buy Essential Items: Reports

Last week, state minister of finance, Ranjith Siyambalapitiya said that Sri Lanka settled a loan installment of $121 million from the previous facilities...


24 March 2023
Sri Lankan Crisis: India's Credit Line Settled With First Tranche Of IMF Bailout Package

Sri Lankan Crisis: India's Credit Line Settled With First Tranche Of IMF Bailout Package

The Indian credit lines since January 2022 have provided a lifeline to debt-stricken Sri Lanka, amid the growing public dissent over the worsening economic...


22 March 2023
IMF Facility Debunks Sri Lanka's Bankrupt Status: President Wickremesinghe

IMF Facility Debunks Sri Lanka's Bankrupt Status: President Wickremesinghe

The receipt of the IMF Facility is a step towards building a better future for the youth and uplifting the country


07 March 2023
IMF Set To Consider Final Approval Of Sri Lanka's $2.9 Billion Bailout Package

IMF Set To Consider Final Approval Of Sri Lanka's $2.9 Billion Bailout Package

Even as the IMF statement came, the trade unions in the cash-strapped country vowed to fight what they termed the unjust tax policy of the government


27 February 2023
Opposition Holds Protests In Sri Lanka

Opposition Holds Protests In Sri Lanka

The opposition supporters were protesting over a decision to postpone local elections after the government said it cannot finance the same because of the...


29 January 2023
Sri Lanka’s Economic Growth In 2022 Stood At Minus 11%: President Wickremesinghe

Sri Lanka’s Economic Growth In 2022 Stood At Minus 11%: President Wickremesinghe

During mid 2022 Sri Lanka faced the worst economic crisis which led to months long public protests leading to a political crisis


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20 January 2023
India To Hike Development Assistance To Sri Lanka

India To Hike Development Assistance To Sri Lanka

Jaishankar also handed over 300 completed houses in the Galle, Kandy, and Nuwara Eliya districts in the housing project implemented by India


20 January 2023
India Firmly Backs Sri Lanka's Bid To Secure $2.9 Billion IMF Bailout Package

India Firmly Backs Sri Lanka's Bid To Secure $2.9 Billion IMF Bailout Package

India has extended about USD 4 billion in terms of credits and rollovers to help Sri Lanka get through its worst economic crisis since independence in 1948


04 January 2023
Tourist Arrivals In Sri Lanka On Rise Despite Economic Crisis

Tourist Arrivals In Sri Lanka On Rise Despite Economic Crisis

This marks a significant increase from the pandemic hit in 2021. In 2021, the tourist arrivals were under 195,000, according to Sri Lanka's Tourism Development...


08 December 2022
India Vows To Back Sri Lanka's Debt Restructuring Plan, Says Two Nations Are 'Steadfast Friends'

India Vows To Back Sri Lanka's Debt Restructuring Plan, Says Two Nations Are 'Steadfast Friends'

Sri Lanka, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), is looking at financial assurances from its...


06 December 2022
Sri Lanka To Resume Flights from Jaffna To India Next Week: Aviation Minister

Sri Lanka To Resume Flights from Jaffna To India Next Week: Aviation Minister

The cash-strapped country will be able to resume flights from the northern Jaffna peninsula to Chennai next week, a move that will boost its beleaguered...


12 October 2022
IMF Deputy Managing Director Gita Gopinath Holds Meeting With Sri Lankan Authorities On Economic Crisis

IMF Deputy Managing Director Gita Gopinath Holds Meeting With Sri Lankan Authorities On Economic Crisis

Sri Lanka Crisis: IMF had earlier announced that it will provide the island nation with a loan of about USD 2.9 billion over four years, under a preliminary...


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