Page 16 - Economic Crisis

IMF holds talks in Sri Lanka as cabinet moves to cut president's powers

Sri Lanka's cabinet on Monday approved an amendment to the constitution that could reduce presidential powers, in a move to appease protesters calling for President Gotabaya Rajapaksa to quit

Sri Lanka minister forced to flee as farmers protest his visit: Report

When Sri Lanka's Agriculture Minister Mahinda Amaraweera attempted to inquire, chaos broke out forcing the minister to flee the premises, the report added.

Pakistan following Sri Lanka's path to land in Chinese debt trap: Report

Pakistan is blindly following Sri Lanka's path which will lead the country to fall into the Chinese debt trap

Sri Lanka Army to cultivate land to ramp up food production: Report

The army established its Green Agriculture Steering Committee (GASC) on Thursday to supplement and promote the food security programme in Sri Lanka

Sri Lanka awaits India's nod for new credit line of fuel supplies

Sri Lanka is awaiting official confirmation from India on a new credit line that would allow the cash-strapped nation to have supplies of petrol and diesel for the next four months

Sri Lanka's economic activity grinds to a halt as fuel supplies run dry

Amidst fuel crisis in Sri Lanka, the government declared Friday a holiday for public offices and schools to curtail vehicular movement, leaving many roads in and around the capital Colombo deserted

Spiraling food crisis looms as Sri Lankan farmers abandon fields

Fears of a hunger crisis are rising in Sri Lanka, a teardrop-shaped island south of India. Shortages of items like flour and milk powder are widespread

Sri Lanka in talks to amend terms of $1.5-billion China deal: Report

Meanwhile, the United States on Thursday announced that it will provide $6 million in emergency assistance to Sri Lanka

Sri Lankan Cabinet approves new measures to facilitate economic recovery

Sri Lanka's government has approved several measures, including imposing a 2.5 per cent social contribution tax on companies and declaring Fridays as holidays, to facilitate the economic recovery

Pakistan FinMin warns of default if fuel subsidies not abolished

Ismail claimed that the government was still giving Rs 19 subsidy on petrol and Rs 53 subsidy on diesel

Blinken assures Sri Lanka of support after IMF negotiations conclude

US Secretary of State Antony Blinken has assured crisis-hit Sri Lanka of support to promote American investments in the country after the completion of IMF negotiations

Blinken discusses economic, political challenges with Sri Lanka's PM

US Secretary of State Antony Blinken discussed the current economic and political challenges with Sri Lanka's Prime Minister Ranil Wickremesinghe

Pakistan's political parties blame each other for economic crisis

Pakistan's political parties, the incumbent PML-N government and the ousted Pakistan Tehreek-e-Insaf (PTI) government led by Imran Khan on Sunday blamed each other for the economic mess in the country

Amid crisis, Sri Lanka set to introduce fuel ration scheme next month

The island nation has been experiencing long lines for fuel refilling since mid-February with pressure coming on the diesel supplies for thermal power generation

Sri Lanka open to buying Russian oil, says PM Ranil Wickremesinghe

Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed prime minister said

India extends Sri Lanka $55 mn credit line for fertiliser imports

The Indian government has decided to extend a Line of Credit (LOC) of $55 million to Sri Lanka for the procurement of Urea Fertiliser

Sri Lanka crisis: PM announces financial safety net for social security

Sri Lanka aims to set up a financial safety net of Rs 200 billion to provide social security support to the needy amidst the worst economic crisis in the country, PM Ranil Wickremesinghe has announced

22 per cent of Sri Lankans need food aid amid economic crisis: UN official

A total of 22 per cent of the Sri Lankan population or 4.9 million people live in need of food assistance at the moment, a high-level UN official said on Friday

UN launches $47.2M SOS for Sri Lanka, warns of threat to 'social cohesion'

Warning that the crisis in Sri Lanka will affect its fragile "social cohesion", the UN has launched a $47.2 million appeal for humanitarian assistance

China praises India for helping Sri Lanka deal with economic crisis

China on Wednesday praised India for helping Sri Lanka amid the unprecedented economic crisis in the island nation that has led to a shortage of fuel and other essential items