Here are some developments in the nation’s economic crisis:
2022
March 31: Demonstrators march to President Gotabaya Rajapaksa's private residence to protest over worsening economic conditions.
May 9: Prime Minister Mahinda Rajapaksa resigns. Countrywide violence leaves nine dead and about 300 injured
May 18: Lanka falls into default after a 30-day grace period on a $78 million coupon payment expires
July 13: President Gotabaya Rajapaksa flees Sri Lanka
July 15: Parliament accepts Rajapaksa's resignation. Ranil Wickremesinghe, is sworn in as acting president.
Sept 1: Lanka reaches a preliminary agreement with the IMF for a loan of $2.9 billion
Nov 14: Budget lays down several measures, including reducing the
Disclaimer: No Business Standard Journalist was involved in creation of this content