COLOMBO: Ahead of an International Monetary Fund bailout, Sri Lanka defaulted on its foreign debt on Tuesday as protests over the economic crisis threatened to spread to the hinterland. The finance …
Sri Lanka Suspends Foreign Debt Payments
On Tuesday, Sri Lanka’s finance ministry said a comprehensive restructuring of its outstanding foreign-denominated debt was required and that the government had approached the International Monetary …
Sri Lanka Suspends Foreign Debt Payments
On Tuesday, Sri Lanka’s finance ministry said a comprehensive restructuring of its outstanding foreign-denominated debt was required and that the government had approached the International Monetary …
Sri Lanka Suspends Foreign Debt Payments
On Tuesday, Sri Lanka’s finance ministry said a comprehensive restructuring of its outstanding foreign-denominated debt was required and that the government had approached the International Monetary …
Forex reserves declining in Nepal: Is the Himalayan kingdom going south the Sri Lanka way?
Nepalese economy seems to be heading south, the Sri Lankan way, as the Himalayan kingdom is facing a crisis that has sent the prices soaring and the foreign exchange reserves diving nose down. And …
Comparing Bangladesh with Sri Lanka is unfortunate: Principal Secretary
Bangladesh, April 12 — Taking a swipe at those who campaign that Bangladesh would face the crisis like Sri Lanka, Prime Minister’s Principal Secretary Dr Ahmad Kaikaus on Tuesday said the comparison …
Midst of escalating financial and petroleum crises, India launches a rescue effort on Sri Lanka
As Sri Lanka’s economic crisis deepened, political instability erupted in the form of large-scale protests. Sri Lankans were irked by the government’s mismanagement of financial affairs,corruption and …
Why Bangladesh won’t fall into crisis like Sri Lanka?
In the last fiscal year 2020-21, record remittances of $24.7 billion came to Bangladesh even during the Coronavirus epidemic. The Sri Lankan calendar year is a financial year. In 2021, remittances to …
Sri Lanka’s surprise finance minister has a mountain to climb
When former justice minister Ali Sabry visited Sri Lanka’s president last Monday, it was for talks amid an economic crisis that has brought thousands of protesters on to the street and left the island …
Nepal restricts imports to save cash, suspends central bank governor
Nepal’s foreign reserves have been hit by a slump in tourism in Asia during the pandemic, a problem that has also hit Sri Lanka …