Page 27 - Economic Crisis

Lankan PM says govt working round-the-clock to overcome economic crisis

The government is spending every second of the day to resolve this problem. My family is being slandered, we can tolerate it, Mahinda said

Street fights have dangerous ends, Sri Lanka PM warns protestors

The PM admitted that the country was falling over a precipice though his government was able to save it from the Covid-19 pandemic

SL faces worst economic crisis since gaining independence in 1948: BBC

Sri Lanka is facing its worst economic crisis since gaining independence from the British in 1948 which has triggered food shortages, soaring prices and power cuts.

Turkey-China ties become one-way street amid increasing economic crisis

The ties between Turkey and China have almost become a one-way street as the financial situation of Ankara and Beijing is weakening

Sri Lankan President invites independent MPs to discuss economic crisis

Last week the entire Sri Lankan cabinet resigned apart from Mahinda at a time when the country was facing its worst economic crisis since gaining independence from the UK in 1948

Sri Lanka raises key interest rates by 700 basis points to 14.5%

The heavily indebted country has little money left to pay for imports, meaning fuel, power, food and, increasingly, medicines are in short supply

New Sri Lanka central bank boss calls monetary policy meet on Friday

Nandalal Weerasinghe, a former senior deputy governor of the Central Bank of Sri Lanka who has worked with the IMF, will replace Cabraal on Thursday

Pakistan seeks to skirt crisis with biggest rate hike since 1996

The key rate now stands at 12.25 per cent, State Bank of Pakistan said in a statement on Thursday

India stand ready to continue to help Sri Lanka: External Affairs Ministry

As Sri Lanka reels under a severe economic crisis that triggered a political upheaval, India said it is ready to continue helping the nation to recover from difficulties

Sri Lanka's economic crisis may encourage it to strengthen ties with India

International Monetary Fund (IMF) data shows the economy's net international reserves have been negative since December last year

US advises its citizens against travelling to Sri Lanka amid crisis

Amid the ongoing unrest in Sri Lanka owing to its economic crisis, the United States on Wednesday advised its citizens against travelling to the island nation, pointing to the shortage

India supplies two fuel consignments to crisis-hit Sri Lanka

The country of 20 million people is suffering its worst economic crisis in decades, short supply of fuel resulting in hours-long power cuts every day

Sri Lanka president Rajapaksa will not resign despite protests: Minister

Sri Lanka's President Gotabaya Rajapaksa will not resign, a minister said on Wednesday, despite protests against his handling of the country's worst economic crisis

Prez Gotabaya Rajapaksa will not resign under any circumstances: Lanka govt

The SL Govt said the president will not resign under any circumstances and will face current issues, as it defended embattled leader's decision to enforce a state of emergency, which he later revoked

Sri Lankan doctors to stage protests after hospitals run out of drugs

People have been suffering from shortages of fuel, power, food and other items for weeks, and doctors say the entire health system could now collapse

'Go home': Protests leave Sri Lanka's ruling Rajapaksa dynasty teetering

In 2020, Mahinda Rajapaksa won elections to become Sri Lanka's prime minister, serving under his brother and president Gotabaya. In 2021, another sibling, Basil, was named finance minister

UN rights office concerned over Sri Lanka's deepening economic crisis

The UN human rights office (OHCHR) on Tuesday expressed concern over the deepening economic crisis in Sri Lanka and urged the government to defuse tensions peacefully.

Sri Lankan President Gotabaya Rajapaksa revokes State of Emergency

Sri Lanka President Gotabaya Rajapaksa on Tuesday issued a notification revoking the proclamation issued declaring the State of Emergency

Traffic at Indian ports jumps after trouble in the Colombo port

The political and economic uncertainties in Sri Lanka and the congestion at the Colombo port are forcing more ships to turn towards Indian ports in recent months.

Rajapaksa's coalition loses majority; newly appointed FM resigns in a day

Emergency health situation declared; ex-central banker Weerasinghe accepts offer to be new governor