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.
Sri Lankan Prime Minister Mahinda Rajapaksa has repeatedly defied calls to quit while his brother President Gotabaya Rajapaksha has come under fire for...
On Monday, India had extended its current credit line by a further $200 million to replenish Sri Lanka’s rapidly depleting fuel stocks.
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...
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.
Sri Lankans are going through extreme hardships as there is severe shortage of vehicular fuel, cooking gas, and even food and medicines.
Rajapaksa on Monday appointed a new 17-member Cabinet that excluded his close relatives except Prime Minister Mahinda Rajapaksa
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...
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...
The debt servicing suspension will be in force for an interim period pending an orderly and consensual restructuring consistent with the proposed arrangement...
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.
Economists have warned Sri Lanka would come to a total collapse by May-June with the exhaustion of the Indian credit line.
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...
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...
Two Indian consignments of 36,000 metric ton of petrol and 40,000 metric ton of diesel were delivered to Sri Lanka.
US nationals are asked to reconsider travel to Sri Lanka due to shortages of fuel and medicine, in addition to terror and COVID risks.
In a letter to the President, Sabri said that he took up the job as part of a temporary measure
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...
The protesters were demanding Rajpaksa's resignation amid the country's worst financial crisis. They pulled down barricades and chanted anti-Rajapaksa slogans....
Cabraal, 67, announced his resignation in a Twitter post, after being elevated to this position less than seven months ago
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.
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...
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...
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...
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.