Tuesday, May 17, 2022
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Sri Lanka Fuel

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 suggesting that many Indian states have also been following a disastrous economic policy.

15 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...

07 May 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.  

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...

24 April 2022

Sitharaman Assures Lankan Counterpart Of All Possible Assistance From India

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.

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19 April 2022
Sri Lanka Crisis: President Rajapaska Admits Mistakes, Says Fertiliser Ban Was Wrong

Sri Lanka Crisis: President Rajapaska Admits Mistakes, Says Fertiliser Ban Was Wrong

Sri Lankans are going through extreme hardships as there is severe shortage of vehicular fuel, cooking gas, and even food and medicines.


18 April 2022
Lankan President Gotabaya Rajapaksa Appoints New Cabinet Amid Economic Crisis

Lankan President Gotabaya Rajapaksa Appoints New Cabinet Amid Economic Crisis

Rajapaksa on Monday appointed a new 17-member Cabinet that excluded his close relatives except Prime Minister Mahinda Rajapaksa


15 April 2022
Crisis-Hit Lanka Seeks India’s Help For Cooking Gas Supply

Crisis-Hit Lanka Seeks India’s Help For Cooking Gas Supply

Sri Lanka is currently experiencing its worst economic crisis in history. With long lines for fuel, cooking gas, essentials in short supply and long hours of...


15 April 2022
Sri Lanka Rations Fuel As Country Faces Its Worst Financial Crisis

Sri Lanka Rations Fuel As Country Faces Its Worst Financial Crisis

Limit is Rs 1,000 for two-wheelers per visit to fuel pump, Rs 1,500 for three-wheelers, Rs 5,000 for four-wheelers. Buses, lorries and commercial vehicles are...


12 April 2022
Crisis-Hit Sri Lanka Announces Debt Default

Crisis-Hit Sri Lanka Announces Debt Default

The debt servicing suspension will be in force for an interim period pending an orderly and consensual restructuring consistent with the proposed arrangement...


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11 April 2022
Sri Lanka PM Mahinda Rajapaksa Says Govt Working Round-The-Clock To Overcome Economic Crisis

Sri Lanka PM Mahinda Rajapaksa Says Govt Working Round-The-Clock To Overcome Economic Crisis

He also appealed to the protesters to end their anti-government agitation and said that every minute spent on streets deprives the country of dollar inflow.


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.


09 April 2022
Sri Lanka Hikes Interest Rates To Tackle Inflation Amid Economic Crisis

Sri Lanka Hikes Interest Rates To Tackle Inflation Amid Economic Crisis

The move comes as Sri Lanka's main Opposition party SJB on Friday announced that it will move a no-confidence motion against the government of President...


08 April 2022
Sri Lanka At Risk Of Running Out Of Diesel By Month-End Despite Indian Aid

Sri Lanka At Risk Of Running Out Of Diesel By Month-End Despite Indian Aid

Three more Indian shipments are due on April 15, 18 and 23 and the facility would be fully exhausted by then unless the Sri Lankan government sought for a...


07 April 2022
India Delivers Fuel Consignments To Sri Lanka, Total Fuel Aid Reaches 270,000 MT

India Delivers Fuel Consignments To Sri Lanka, Total Fuel Aid Reaches 270,000 MT

Two Indian consignments of 36,000 metric ton of petrol and 40,000 metric ton of diesel were delivered to Sri Lanka.


07 April 2022
Sri Lanka Crisis: US Asks Citizens To Reconsider Travel, Cites Fuel, Medicine Shortage, Risk From Terrorism

Sri Lanka Crisis: US Asks Citizens To Reconsider Travel, Cites Fuel, Medicine Shortage, Risk From Terrorism

US nationals are asked to reconsider travel to Sri Lanka due to shortages of fuel and medicine, in addition to terror and COVID risks.


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05 April 2022
Sri Lanka’s New Finance Minister Ali Sabry Resigns A Day After Appointment

Sri Lanka’s New Finance Minister Ali Sabry Resigns A Day After Appointment

In a letter to the President, Sabri said that he took up the job as part of a temporary measure


05 April 2022
Jacqueline Fernandez: As A Sri Lankan, It's Heartbreaking To See What My Country Is Going Through

Jacqueline Fernandez: As A Sri Lankan, It's Heartbreaking To See What My Country Is Going Through

Actress Jacqueline Fernandez took to Instagram to write about the current economic crisis in her home country, Sri Lanka. She urged people not to judge the...


04 April 2022
Sri Lanka Crisis: Protesters Defy Curfew To Try To Storm Prime Minister's Residence

Sri Lanka Crisis: Protesters Defy Curfew To Try To Storm Prime Minister's Residence

The protesters were demanding Rajpaksa's resignation amid the country's worst financial crisis. They pulled down barricades and chanted anti-Rajapaksa slogans....


04 April 2022
Sri Lanka Central Bank Governor Quits Amid Mounting Economic Woes

Sri Lanka Central Bank Governor Quits Amid Mounting Economic Woes

Cabraal, 67, announced his resignation in a Twitter post, after being elevated to this position less than seven months ago


03 April 2022
Displaced Sri Lankans Turn To India In Hordes Amid Country's Worst Financial Crisis

Displaced Sri Lankans Turn To India In Hordes Amid Country's Worst Financial Crisis

Sri Lankans began arriving in India last month and Indian officials have been reported to estimate that up to 2,000-4,000 people might arrive in coming weeks. 


03 April 2022
Sri Lanka Blocks Social Media Platforms After Imposing Emergency, Curfew

Sri Lanka Blocks Social Media Platforms After Imposing Emergency, Curfew

The move is aimed at preventing masses from gathering in Colombo to protest the government’s failure to provide relief to the public suffering from shortages...


30 March 2022
Sri Lanka Financial Crisis: 10-Hour Power Cut Imposed As Fuel Shortage Worsens

Sri Lanka Financial Crisis: 10-Hour Power Cut Imposed As Fuel Shortage Worsens

Sri Lanka is facing an unprecedented acute economic and energy crisis caused due to shortage of foreign exchange. People are also facing long hours of power...


04 February 2022
Sri Lanka Financial Crisis: President Rajapaksa Thanks India For Extending $500 Million Credit

Sri Lanka Financial Crisis: President Rajapaksa Thanks India For Extending $500 Million Credit

With the recent support, India’s overall development assistance to Sri Lanka stands at close to USD 4 billion, the Indian High Commission said. PM Rajapaksa...


24 October 2021
Sri Lanka Seeks $500 Million Loan From India For Fuel Purchases Amid Forex crisis

Sri Lanka Seeks $500 Million Loan From India For Fuel Purchases Amid Forex crisis

Lanka IOC (LIOC), the subsidiary of Indian Oil Corporation in Sri Lanka, had hiked the retail prices of both petrol and diesel by Rs 5 per litre.


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