Page 22 - Economic Crisis

Sri Lanka: Defence ministry orders tri-forces to open fire on rioters

Sri Lanka's Ministry of Defence on Tuesday ordered the Army, the Air Force and the Navy personnel to open fire on anyone looting public property or causing harm to others amidst violent protests

Cricket Australia keeping a close watch on situation in Sri Lanka: Report

Australia are scheduled to play three T20Is, five One-day Internationals and two Tests in Sri Lanka beginning June 7, but the unrest in the county has forced CA to monitor the evolving situation

World Bank expresses grave concern over violence, crisis in Sri Lanka

The developments come even as nationwide protests against the government have intensified over the past few days resulting in an increase in clashes with the security forces deployed at protest sites

UN chief Antonio Guterres calls for dialogue to solve Sri Lanka crisis

"We continue to encourage all Sri Lankan stakeholders to find a solution to the current challenges through dialogue and with the interests of the country and the people in mind," Haq said

Sri Lanka PM Mahinda Rajapaksa steps down; MP, 4 others killed in clashes

Houses of legislator, former minister set on fire in curfew-bound nation

Sri Lanka imposes nationwide curfew; deploys army in Colombo amid protests

Curfew was imposed islandwide with immediate effect until further notice, a police spokesperson was quoted as saying by the local media.

Sri Lanka crisis: Mahinda supporters attack anti-govt protesters,16 injured

The violence occurred following reports on Monday that Mahinda Rajapksa may offer to stand down as Prime Minister, as pressure mounts on the embattled government to form an interim administration

Bangladesh extends currency swap option to boost Lanka's depleting reserves

In May 2021, Bangladesh cleared a $200 mn currency swap facility for Sri Lanka, to help boost its economy, becoming 1st South Asian country to extend crucial financial assistance to Colombo this year

Ready to make any sacrifice for people: Lankan PM amid pressure to resign

Mahinda Rajapaksa, 76, under intense pressure from within his own party to resign, was gathering his supporters to apply counterpressure not to stand down

Sri Lankan rights body summons top brass to explain reason for emergency

In a special Cabinet meeting on Friday, President Gotabaya Rajapaksa declared a state of emergency with effect from Friday midnight.

Lanka's defence ministry asks people to assist in managing economic crisis

The declaration, made in an extraordinary gazette late Friday, gives Rajapaksa sweeping powers to suspend laws, detain people and seize property

Sri Lankan govt defends imposition of emergency amid backlash from Oppn

The Sri Lankan government on Saturday defended imposing a state of emergency, saying it was required to tackle the unprecedented economic crisis plaguing the country

Sri Lanka, IMF to start next round of technical discussions amid crisis

The International Monetary Fund (IMF) announced it will begin the next round of technical discussions with Sri Lanka from May 9-23

Sri Lankan PM Rajapaksa likely to resign as economic crisis worsens

The Sri Lankan Cabinet had been informed that owing to the failure of the Prime Minister to cope with the country's ongoing economic crisis, Mahinda Rajapaksa has sought to resign from his position

President Rajapaksa under fire for imposing emergency in Sri Lanka

The state of emergency gives the police and the security forces sweeping power to arbitrarily arrest and detain people

Sri Lanka faces diesel shortage as economic crisis worsens: Minister

Sri Lanka is facing a shortage of diesel as the ongoing economic crisis worsens in the island country, Minister of Power and Energy Kanchana Wijesekera said on Thursday.

Sri Lankan tea pickers' dreams shattered as nation faces economic crisis

The Covid-19 pandemic severed the tourism lifeline of the Indian Ocean nation, already short of revenue in the wake of steep tax cuts by the government.

Sri Lanka economic crisis: Usable forex reserves now down at under $50 mn

Sri Lankan Finance Minister said discussions with several countries to obtain bridging finance are underway

'We have bitten off more than what we can chew': Sri Lanka Minister Sabry

"We have bitten off more than what we can chew," debt-ridden Sri Lanka's Finance Minister Ali Sabry acknowledged before Parliament on Wednesday

Lankan parliament to meet for session amid opposition's no-trust motions

Opposition party SJB handed over to the parliamentary Speaker motions of no-confidence against President Gotabaya Rajapaksa and the government for mishandling the country's worst economic crisis