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Sri Lanka Economic Crisis

Sri Lanka’s President Gotabaya Rajapaksa Expands Cabinet Amid Economic Crisis

Sri Lanka’s President Gotabaya Rajapaksa reshuffles his cabinet amid the ongoing economic crisis that has hit the island nation, but he didn’t appoint any finance minister.

23 May 2022

A Lankan Build-Up In India

What India Can Learn From Sri Lankan Economic Crisis

While India has extended a helping hand to the island country, there could be trouble brewing in its own backyard with economists and public policy experts suggesting that many Indian states have also been following a...


Sri Lankan PM Mahinda Rajapaksa Resigns Amid Nationwide Curfew, Army Deployment

Earlier on Monday, Mahinda's supporters attacked anti-government protesters, injuring 78 people and leading to a nationwide curfew.


RBI Allows Settlement Of Trade Transactions With Sri Lanka In INR

In March, the government had guaranteed a term loan of $1 billion extended by the SBI to Sri Lanka for financing the purchase of essential goods by the island nation from India.

19 May 2022

Sri Lanka Economic Crisis: Central Bank Chief Threatens To Resign Amid Political Unrest

Sri Lanka’s worst economic crisis has provoked widespread protests calling for political reform and the resignation of President Gotabaya Rajapaksa.


Sri Lanka Crisis: 23 People Injured After Mahinda Rajapaksa Supporters Attack Anti-Govt Protestors

Sri Lankan PM Mahinda Rajapaksa, 76, under intense pressure from within his own Sri Lanka Podujana Peramuna (SLPP) ranks to resign, was gathering his supporters to apply counterpressure not to stand down.

09 May 2022

New Sri Lanka PM Ranil Wickremesinghe Is Country’s Best Option, But Can He Deliver?

Protestors demand President Gotabaya to go, but he has won some breathing space. Much will depend on how the situation pans out.

15 May 2022

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Sri Lanka protests against economic crisis

Sri Lanka: Why Emergency May Fuel Violence And More Ire Against Rajapaksas

India which is reaching out to Colombo must make it clear that the help it is extending is to help the people and not to bail out President Gotabaya Rajapaksa. The family have become symbols of hate and the people will not...

07 May 2022

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07 May 2022
Sri Lankan Crisis: PM Rajapaksha Under Pressure To Resign, President Faces Flak For Announcing Emergency

Sri Lankan Crisis: PM Rajapaksha Under Pressure To Resign, President Faces Flak For Announcing Emergency

Sri Lankan Prime Minister Mahinda Rajapaksa has repeatedly defied calls to quit while his brother President Gotabaya Rajapaksha has come under fire for...


06 May 2022
Sri Lanka Crisis: Trade Unions Strike Demanding President Gotabaya's Resignation Cripple The Country

Sri Lanka Crisis: Trade Unions Strike Demanding President Gotabaya's Resignation Cripple The Country

The protesters are demanding the resignation of the government for failure in tackling the country's worst financial crisis.


06 May 2022
Sri Lanka Lost Around 10 Lakh Taxpayers Since 2019 Tax Cuts: Finance Minister Sabry

Sri Lanka Lost Around 10 Lakh Taxpayers Since 2019 Tax Cuts: Finance Minister Sabry

The Cabinet had slashed the value added tax (VAT) to 8 per cent from 15 per cent and also abolished seven other taxes


03 May 2022
India Extended Economic Assistance Of Over $3 Billion To Debt-Ridden Sri Lanka In 2022

India Extended Economic Assistance Of Over $3 Billion To Debt-Ridden Sri Lanka In 2022

On Monday, India had extended its current credit line by a further $200 million to replenish Sri Lanka’s rapidly depleting fuel stocks.  


29 April 2022
M K Stalin Moves Assembly Resolution, Urges Centre To Allow It To Send Humanitarian Aid To Crisis Hit Sri Lanka

M K Stalin Moves Assembly Resolution, Urges Centre To Allow It To Send Humanitarian Aid To Crisis Hit Sri Lanka

Tamil Nadu Chief Minister M K Stalin moved the resolution, saying his government was ready to send essentials including rice, pulses, milk and life-saving...


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24 April 2022
IMF To Support Sri Lanka’s Efforts To Overcome Economic Crisis

IMF To Support Sri Lanka’s Efforts To Overcome Economic Crisis

The crisis is caused in part by a lack of foreign currency, which has meant that the country cannot afford to pay for imports of staple foods and fuel, leading...


22 April 2022
India Extends Swap Facility Duration Worth $400 Million With Crisis-Hit Sri Lanka

India Extends Swap Facility Duration Worth $400 Million With Crisis-Hit Sri Lanka

This was the first extension of an international debt instrument to Sri Lanka after the government led by President Gotabaya Rajapaksa on April 12 temporarily...


22 April 2022
Sri Lankan Families Continue To Swarm India From Crisis Hit Island Nation

Sri Lankan Families Continue To Swarm India From Crisis Hit Island Nation

Sri Lanka is grappling with unprecedented economic turmoil since its independence from Britain in 1948, and has been witnessing large-scale protests against...


19 April 2022
Sri Lanka Requests IMF For Rapid Aid Assistance Amid Economic Crisis

Sri Lanka Requests IMF For Rapid Aid Assistance Amid Economic Crisis

Sri Lanka, which is on the brink of bankruptcy, is grappling with an unprecedented economic turmoil, the worst since its independence from Britain in 1948.


19 April 2022
Sithraman Meets IMF Chief; Discusses Impact Of Geopolitical Situation On Global Growth

Sithraman Meets IMF Chief; Discusses Impact Of Geopolitical Situation On Global Growth

India is expected to record the highest growth rate among large economies of the world. As per the Economic Survey, the country may log 8-8.5 percent GDP...


17 April 2022
Sri Lanka Remembers 270 Slain In 2019 Easter Terror Attack

Sri Lanka Remembers 270 Slain In 2019 Easter Terror Attack

Sri Lanka: In 2019 local Islamist extremist group National Thawheed Jamaat linked to the ISIS, had carried out coordinated blasts that tore through three...


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17 April 2022
Sri Lankan Delegation Heads To US To Seek $4 Billion Bailout Package From IMF

Sri Lankan Delegation Heads To US To Seek $4 Billion Bailout Package From IMF

The delegation led by newly-appointed finance minister Ali Sabry will hold talks with the International Monetary Fund (IMF) between April 19 and April 24.


17 April 2022
Explained: What Happens When A Country Defaults On Its Debts

Explained: What Happens When A Country Defaults On Its Debts

Owing to an insufficient cash inflow, the country often fails to pay back to its creditors the principal amount as well as the interest amount of the loan....


15 April 2022
Easter Sunday Bombings: Dhammika Prasad Demands Justice For Victims, Begins Hunger Strike

Easter Sunday Bombings: Dhammika Prasad Demands Justice For Victims, Begins Hunger Strike

The Easter Sunday bombings and the investigations have caused many political headlines with the Catholic church accusing the government of a cover-up.


14 April 2022
What’s Happening In Sri Lanka And How Did The Economic Crisis Start?

What’s Happening In Sri Lanka And How Did The Economic Crisis Start?

Inflation is at an all-time high of 17.5 per cent, with prices of food items such as a kilogram of rice soaring to 500 Sri Lankan rupees (A$2.10) when it would...


12 April 2022
Crisis-hit Sri Lanka Announces Default On All External Debt Pending IMF Bailout Package

Crisis-hit Sri Lanka Announces Default On All External Debt Pending IMF Bailout Package

Sri Lanka’s external debt servicing obligations were thought to be over USD 6 billion.


09 April 2022
Sri Lanka Crisis: Central Bank Hikes Interest Rates To Tackle Inflation

Sri Lanka Crisis: Central Bank Hikes Interest Rates To Tackle Inflation

Economists have warned Sri Lanka would come to a total collapse by May-June with the exhaustion of the Indian credit line.


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