Page 28 - Economic Crisis

US Dollar reaches over 300 against Sri Lankan rupee for first time

Sri Lankan banks on Tuesday said US dollar reached over 300 against the country's rupee, LKR, for the first time, as the nation is facing a severe economic crisis with the shortage of foreign exchange

Is Sri Lanka the next Argentina?

As Sri Lanka makes another crucial political transition, it faces a major risk of macroeconomic instability

Sanjay Raut terms SL's situation 'worrisome', warns India on same path

Shiv Sena leader Sanjay Raut on Tuesday called Sri Lanka's situation "worrisome" and cautioned that India would be on the same path if the rising inflation is not tackled

Lankan economic crisis: Rajapaksa's grip on power weakens, FM resigns

The parliamentary majority of Sri Lanka's ruling coalition headed by President Rajapaksa has come under threat with dissident lawmakers, led by former president Maithripala Sirisena

Sri Lankan President Rakapaksa's party loses majority in Parliament

Tuesday's development comes amid an ongoing turmoil in the island nation due to the country's worst ever economic crisis, triggering widespread anti-government protests

What is the road ahead for India as fresh Covid-19 cases dip below 1,000

Fresh cases of Covid-19 dropped below 1,000-mark on Monday -- the lowest since April 2020 when it all began. The signs of recovery are apparent now. Can we afford to lower the guard now?

Sri Lanka caught in a 'strategic debt trap', faces worst economic crisis

Sri Lanka, a flourishing island nation of 22 million, has finally fallen to China's debt-trap diplomacy

Sri Lankan President Rajapaksa says he won't resign amid crisis

Amid the ongoing political in Sri Lanka triggered by the massive economic crisis, President Gotabaya Rajapaksa has said that he will not resign

Sri Lanka finance minister sacked, central bank governor calls it quits

The debt-laden country, run by Rajapaksa and several members of his family since 2019, is struggling to pay for imports of fuel and other goods due to a scarcity of foreign exchange

Sri Lanka names new ministers as old team quits amid economic crisis

The reshuffle comes amid Sri Lanka's struggle with a severe dollar shortage that prompted capital controls and import curbs.

Sri Lankan president calls for unity govt to resolve economic crisis

The developments come after Gotabaya Rajapaksa declared a state of emergency on Friday, following protests over the economic hardship faced by the people of the country

Sri Lanka's economic crisis deepens; cabinet ministers offer to resign

The debt-laden country is struggling to pay for imports of fuel and other essentials due to a severe shortage of foreign currency

Sri Lanka's PM Mahinda Rajapaksa may resign amid growing economic unrest

Sri Lanka's Prime Minister Mahinda Rajapaksa and Finance Minister Basil Rajapaksa may step down as early as Sunday as public anger builds against their economic policies

Lankan Prez Rajapaksa bans appearance at public places during curfew hours

Rajapaksa issued a special gazette notification on Friday, declaring a public emergency in Sri Lanka with effect from April 1

Lanka imposes curfew as food, fuel and power shortage trigger more protests

The island wide curfew has been imposed with effect from 6 pm Saturday to 6 am Monday (April 4), the information department said

Lanka economic crisis: Ruling coalition urges Prez to form all-party govt

Sri Lanka's former president Maithripala Sirisena's Freedom Party has called on President Gotabaya Rajapaksa to form an all-party government to tide over the worst economic crisis

Sri Lanka declares state of emergency amid economic crisis, unrest

Sri Lanka's President Gotabaya Rajapaksa has declared a state of emergency in the country giving the security forces wide authority to arrest and detain suspects with immediate effect.

How Sri Lanka's economy spiralled into crisis: An explainer

A severe shortage of foreign currency has left Rajapaksa's government unable to pay for essential imports, including fuel, leading to debilitating power cuts lasting up to 13 hours

Sri Lanka lifts curfew after violent protests over economic crisis

Hundreds of protesters gathered near Rajapaksa's residence in a Colombo suburb late on Thursday before police moved in to disperse them with tear gas and water cannons

Protests near president's residence act of terrorism: Sri Lankan govt

The Sri Lankan government on Friday termed the violent demonstration near President Gotabaya Rajapaksa's residence over the current economic crises as "an act of terrorism"