Page 20 - Sri Lanka

Crisis-hit Sri Lanka sends military personnel to oversee fuel distribution

Sri Lanka ordered its military to post soldiers at hundreds of gas stations on Tuesday, to help distribute fuel after a sudden rise in prices of key commodities

Sri Lankan inflation in Feb hits record high at 17.5%, highest since 2015

Sri Lanka's Department of Census and Statistics announced that the overall rate of inflation for February 2022 on year-on-year basis stood at 17.5 per cent

Best of BS Opinion: Slipping on oil prices, Sri Lanka nears crisis & more

Here are the best of BS Opinion pieces of the day

Sri Lanka in talks with China for $2.5 bn credit support: Chinese official

Chinese ambassador to Sri Lanka Qi Zhenhong told reporters the two sides were also discussing a separate loan of up to $1 billion which the Sri Lankan government had requested

Sri Lanka nears crisis

More help needed for the island nation's faltering economy

Sri Lanka crisis worsens: Petrol price skyrockets, 2 die in queue

Suspends operations at its only fuel refinery after crude oil stocks run out

Serpentine queue lines at fuel stations claim lives of two 70-yr-olds in SL

Two 70-year-old men have died waiting in serpentine queues outside petrol filling stations in Sri Lanka, officials here said on Sunday. Sri Lankan is reeling from a severe shortage of fuel as it deals with a historic foreign reserve crisis. Colombo police said the two septuagenarians died at central district Kandy and Colombo Suburb on Saturday. Both the deceased had spent over six hours in the waiting lines. Acute exhaustion caused by torrid heat is believed to be the preliminary cause of the deaths. Officials said the government is banking on Indian fuel to ease the current crunch. Chairman of State-owned Ceylon Petroleum Corporation (CPC) Sumith Wijesinghe said, "From the Indian credit line, we get all the finished products, such as petrol, diesel and Jet fuel." "We have received jet fuel on 13th and 14th (of this month). We have received another diesel ship which will start unloading tomorrow," he said, pointing out that the public seemed to stockpile fuel in view of the ...

SBI signs agreement to provide $1-bn credit facility to Sri Lanka

The finance ministry on Thursday said State Bank of India (SBI) will provide $1 billion credit facility to Sri Lanka for procurement of food, medicines and other essential items.

IMF not asking for removal of central bank Governor: Sri Lanka

Addressing the nation on Wednesday evening, President Gotabaya Rajapaksa said that he has decided to work with the IMF to overcome Sri Lanka's economic woes, reports Xinhua news agency

Sri Lankan FM calls on PM Modi; appreciates India's economic support

PM Modi conveyed to visiting Sri Lankan Finance Minister Basil Rajapaksa that India would always stand with the island nation as it occupies a central role in New Delhi's 'neighbourhood first policy'.

Protests flare in Sri Lanka as govt readies for IMF talks: Report

President Gotabaya Rajapaksa's government said it will begin talks next month with the International Monetary Fund for assistance

Vaiko demands solution to 'frequent' attacks by Lankan navy on TN fishermen

Raising the issue during the Zero Hour in the Upper House, Vaiko said for the past 38 years, fishermen from Tamil Nadu have been targeted repeatedly by the Sri Lankan Navy and their boats destroyed

Sri Lanka seeks IMF help as FM leaves for India to sign $1 bn bailout deal

Sri Lanka's economy was facing 'mounting challenges' with public debt reaching 'unsustainable levels', the IMF has said earlier this month

Sri Lankan finance minister to visit India today hoping to seal $1 bn LoC

Amid the worsening economic situation in his country, Sri Lankan Finance Minister Basil Rajapaksa will begin his India visit on Tuesday, hoping to seal a USD 1 billion line of credit (LoC).

Sri Lanka to sign $1 bn credit line with India to help pay for key imports

Sri Lanka's government last year reached out to India, among other countries, to negotiate credit lines and currency swaps

Colombo Port City: Sri Lanka's economic game changer

Sri Lanka is going through its worst economic crisis. But the Colombo Port City can be 'a game changer', says Saliya Wickramasuriya, Director General of the project, in a chat with Aditi Phadnis

Sri Lanka's currency will stabilise soon, assures country's central bank

Sri Lanka relaxed controls on currency earlier this week considering the severity of the external shocks and recent developments in the domestic front, reported Xinhua

Sri Lanka to start talks with IMF on debt restructuring: Report

The island nation has to repay about $4 billion in foreign debt this year, including a $1 billion international sovereign bond maturing in July.

Prices of essential items soar in Sri Lanka after rupee depreciation

The prices of a number of essential items in Sri Lanka increased on Friday after the country's central bank allowed the country's rupee (LKR) to devalue to 230 per US dollar.

Sri Lanka imposes import restrictions on 367 'non-essential' items

The import control by a Gazette notification dated March 9 makes the 367 items to be barred from importing without a valid license