Page 16 - Sri Lanka

Cash-strapped Sri Lanka to shut embassies in Norway and Iraq

The ministry further stated that it will carefully monitor the transition process

SIAM requests GoI to include auto spares in Line of Credit to Sri Lanka

India has recently announced $1-bn line of credit to Sri Lanka to help the country tide over the current 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

Sri Lankan government in disarray as economic crisis deepens

Possible next steps could be the appointment of a new prime minister replacing the president's elder brother, Mahinda Rajapaksa, or snap parliamentary elections much ahead of a scheduled vote in 2025.

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

Sri Lanka's newly-appointed Finance Minister resigns in less than 24 hours

Sabry also told local media that his resignation was to pave the way for establishing an interim government

Sanjay Raut terms Lanka'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 Lanka's new finance minister resigns a day after appointment

Sri Lanka is currently experiencing its worst economic crisis in history

Local currency trading with Sri Lanka not feasible, says govt official

This is because there's no demand for Indian goods at present, except for essential items that India is supplying under humanitarian grounds

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

Monitoring political, economic developments in Sri Lanka very closely: IMF

The International Monetary Fund (IMF) said on Tuesday that it is monitoring political and economic developments in Sri Lanka "very closely" as public unrest in the island nation grows

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 gets new finance minister, central bank governor as unrest grows

President calls all parties to take up ministerial roles, coalition partner rejects new cabinet; President's brother replaced as finance minister

Sri Lankan stocks slide by nearly 33%, world's worst losers after Russia

The slide in Sri Lankan shares is leading the reversal in a broader gauge of Asia's frontier-market equities after it rallied in 2021.

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 Lanka's president drops brother as finance minister in crisis shake-up

The country off India's southern tip is also grappling with soaring inflation after the government steeply devalued its currency last month ahead of the IMF talks.