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Sri Lanka Economy

Why Raghuram Rajan Believes India Will Not Be Next Sri Lanka, Pakistan

The policy rate hikes that the RBI opted for would help in easing inflationary pressure, says the former RBI Governor

02 August 2022

Sri Lanka Economic Crisis: Lucrative Tourism Industry Bears Major Brunt

Tourism accounts for about 5 per cent of Sri Lanka's Gross Domestic Product (GDP), with Britain, India, and China being the main markets. Sri Lanka is facing its worst foreign exchange crisis after the COVID-19 pandemic hit...


Lankans took to streets in early April demanding President Rajapaksa's resignation

A Lankan Build-Up In India

As Sri Lanka grapples with an economic crisis owing to botched economic policies and unmanageable debt, alarm bells are going off in some states in India


Political Risks Still Challenge Sri Lanka’s Emergence From Default, Says Fitch

The credit ratings agency said having a stable government could help Sri Lanka unlock funding support from the IMF

28 July 2022

Protesting People of Sri Lanka invade president' s house

Austerity, Self-Sufficiency: What Sri Lanka Can Learn From India’s Rise After 1991 Economic Crisis

The island nation’s present situation reminds one of what India went through in the 1990s. Except, India managed to salvage the situation before it reached a Bastille-like predicament


Sri Lanka's Central Bank Raises Key Rates To Curb Inflation

Recent price hikes have been a severe blow, especially for the South Asian country's poor and vulnerable groups as they endure their country's worst economic crisis in memory, struggling with acute shortages of essentials...

07 July 2022

Govt Calls All-Party Meet On Sri Lanka Crisis On Tuesday; Sitharaman, Jaishankar To Brief MPs

During a meeting of all parties convened ahead of the Monsoon Session of Parliament, Tamil Nadu-based DMK and AIADMK demanded that India should intervene in the crisis surrounding the neighbouring country, Sri Lanka, which...

17 July 2022

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Sri Lanka Economic Crisis: IOC Provides Fuel As Government Pumps Go Dry

On Monday, the Sri Lankan government announced that only essential services will operate from midnight till July 10 and all other operations will be temporarily suspended as the crisis-hit nation faces an acute fuel shortage

29 June 2022

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01 June 2022
Does India have a Sri Lanka Problem?

Does India have a Sri Lanka Problem?

As Sri Lanka grapples with an economic crisis owing to botched economic policies and unmanageable debt, alarm bells are going off in some states in India


15 May 2022
What India Can Learn From Sri Lankan Economic Crisis

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...


11 May 2022
Sri Lanka Economic Crisis: Central Bank Chief Threatens To Resign Amid Political Unrest

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.


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


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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...


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.


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...


05 April 2022
Sri Lanka To Shut Embassies In Norway And Iraq

Sri Lanka To Shut Embassies In Norway And Iraq

The Ministry said the decision of temporary closure of the two embassies and a consulate by the government came after careful deliberation and was part of a...


02 April 2022
40,000 MT Diesel From India Reaches Crisis-Hit Lanka As It Struggles To Mitigate Power Outage

40,000 MT Diesel From India Reaches Crisis-Hit Lanka As It Struggles To Mitigate Power Outage

India recently announced that it will extend a USD 1 billion line of credit to Sri Lanka as part of its financial assistance to the country to deal with the...


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