Page 20 - Economic Crisis
Need to restructure debts to be able to pay it back: Sri Lankan Bank Gov
Sri Lanka won't be able to pay back its debts until it restructures them, Central Bank governor P Nandalal Weerasinghe said as he called for the early appointment fo restructuring process.
 "Need to restructure debts to be able to pay it back: Sri Lankan Bank Gov")
Crisis-hit Sri Lanka falls into default, warns inflation may surge to 40%
Sri Lanka Missed $78M Bond Coupon, $105M China Payment April 18
 "Crisis-hit Sri Lanka falls into default, warns inflation may surge to 40%")
No shoot-on-sight orders given during violence: Lankan PM Wickremesinghe
The order came after mobs had gone on the rampage attacking properties linked to the Rajapaksa family and those close to them
 "No shoot-on-sight orders given during violence: Lankan PM Wickremesinghe")
Global economy loses $1.6 trn as world struggles to avoid a new Cold War
Russia's invasion of Ukraine and China's Covid Zero lockdowns are disrupting supply chains, hammering growth and pushing inflation to forty-year highs.
 "Global economy loses $1.6 trn as world struggles to avoid a new Cold War")
Sri Lanka central bank keeps key rates unchanged amid debt crisis
The Standing Lending Facility rate remained unchanged at 14.50% while the Standing Deposit Facility Rate was steady at 13.50%.
 "Sri Lanka central bank keeps key rates unchanged amid debt crisis")
Sri Lankan economic crisis brings opportunity for Indian tea industry
The tea traders of North Bengal said that the present condition in Sri Lanka, which has been unable to export its tea, can create opportunities for the new market in India
 "Sri Lankan economic crisis brings opportunity for Indian tea industry")
Sri Lanka misses ADB payment, Lankan PM Wickremesinghe tells Parliament
Sri Lankan Prime Minister Ranil Wickremesinghe on Wednesday said the country has missed a payment to the Asian Development Bank,
Sri Lanka gets $160 mn from World Bank; PM says will use some to buy fuel
Sri Lanka has received $160 Million from the World Bank and is looking at the possibility of using some of it to buy fuel, PM Ranil Wickremesinghe told Parliament on Wednesday
Sri Lanka to default on debt, no money for fuel, says power minister
An economic crisis unprecedented in Sri Lanka's history since independence in 1948 has led to a critical shortage of foreign exchange
 "Sri Lanka to default on debt, no money for fuel, says power minister")
Lanka's Parliament defeats no-trust motion against President Rajapaksa
Ruling party wins deputy speaker's election; two lawmakers arrested
 "Lanka's Parliament defeats no-trust motion against President Rajapaksa")
Sri Lanka's shattered economy awaits new finance head and rate hike
Prime Minister Ranil Wickremesinghe, appointed last week, is expected to soon choose a finance minister, who will help lead talks with the International Monetary Fund over badly needed aid
Embattled Lankan President Gotabaya Rajapaksa defeats no-confidence motion
Embattled Sri Lankan President Gotabaya Rajapaksa-led government won two important victories in Parliament on Tuesday when its candidate for the slot of Deputy Speaker got elected
 "Embattled Lankan President Gotabaya Rajapaksa defeats no-confidence motion")
Lankan Parliament defeats no-trust motion against President Gotabaya
The motion by Opposition Tamil National Alliance to suspend Parliament's standing orders in order to debate an expression of displeasure over Gotabaya was defeated with 119 MPs voting against it
Sri Lanka's new PM to sell national airline, print money to pay salaries
Wickremesinghe -- less than a week into the job -- said he was forced to print money to pay salaries, which will pressure the nation's currency
 "Sri Lanka's new PM to sell national airline, print money to pay salaries")
A day's petrol left, power cuts may last 15 hours: Lanka PM Wickremesinghe
Says he aims to save country, not a person or family; curfew till 5 am today
Sri Lanka state carrier likely to be privatised: New PM Wickremesinghe
Sri Lanka's new PM Ranil Wickremesinghe said he proposed to privatise the national carrier SriLankan Airlnes as part of his plan to help tackle the debt-ridden country's crippling economic crisis
Sri Lanka down to last day of petrol stock: PM tells crisis-hit nation
On Monday, Ranil Wickremesinghe called for patience, saying the economic crisis would get worse in coming months
 "Sri Lanka down to last day of petrol stock: PM tells crisis-hit nation")
Sri Lanka to impose 9-hour curfew from 8 pm today amid raging violence
Sri Lankan government will impose a curfew from 8 pm on Monday till 5 am Tuesday, local media reported on Monday.
 "Sri Lanka to impose 9-hour curfew from 8 pm today amid raging violence")
Crisis-hit Sri Lanka stumbles toward its first default on foreign debt
The island nation could be formally declared in default if it fails to make an interest payment to bondholders before Wednesday, when the 30-day grace period for missed coupons on dollar bonds ends
 "Crisis-hit Sri Lanka stumbles toward its first default on foreign debt")
Sri Lanka: Failing economy forces auto drivers to sell flags at Galle Face
Faced with economic hardship, Colombo-based taxi and auto drivers are now forced to sell the national flag at the protest site Galle Face for their livelihood
 "Sri Lanka: Failing economy forces auto drivers to sell flags at Galle Face")
