A steep drop in government revenue after a tax cut deepens Sri Lanka’s financial troubles, leading to violent protests as the country suffers through rolling blackouts and hourslong waits for basic …
After China, India aid, is IMF help Sri Lanka’s best hope as Rajapaksa battles worst economic crisis since independence?
The Rajapaksas asked India and China for lines of credit before turning to the IMF. But the country has a history of flouting conditions for help as reforms are ‘extremely painful and politically …
40,000 MT diesel from India reaches crisis-hit Sri Lanka amid power crisis
A consignment of 40,000 metric tonnes of diesel from India reached Sri Lanka on Saturday, the fourth such assistance from New Delhi, to mitigate the spike in power cuts in the island nation, which is …
Sri Lanka: Is Mahinda Taking Charge?
There have been reports that the Rajapaksa brothers, which dominates the current Sri Lankan government, are not on the same page. Gota, it is said, is not on the same wave length as his elder brother, …
Crisis in Sri Lanka: What is the lesson for Bangladesh?
Despite repeated warnings from economists, Bangladesh so far hasn’t taken any major stride toward diversification of its export basket. It still depends heavily on the garment sector.
IMF better choice than costly loans from friends, says former Sri Lanka Central Bank executive
With blackouts engulfing at least half of the day, long queues waiting at fuel pumps, and surging inflation driving people to seek refuge in greener pastures beyond the frontiers, Sri Lanka’s economic …
Former Central Bank executive suggests Sri Lanka to move IMF as loans from friendly nations are expensive
With blackouts engulfing at least half of the day, long queues waiting at fuel pumps, and surging inflation driving people to seek refuge in greener pastures beyond the frontiers, Sri Lanka’s economic …
Disaster tourism: blackouts, shortages hit Sri Lanka recovery hopes
In a Sri Lankan beach guesthouse blacked out by a power cut, the owner’s son illuminates a printed Wifi password with his phone for two European …
Plenty of fish but no catch as Sri Lanka economic crisis bites
Sri Lanka’s economic crisis has left coastal communities short … “Now everything is expensive — for us it’s very difficult to do business,” says K.W. Shiromi, the owner of Mama’s Place seafood …
IMF to begin talks with Sri Lanka on possible loan program
The International Monetary Fund will initiate discussions with Sri Lankan authorities on a possible loan program in the coming days, IMF spokesperson Gerry Rice said on Thursday (Mar 31), as the Asian …