Mahinda Rajapaksa, 76, under intense pressure from within his own party to resign, was gathering his supporters to apply counterpressure not to stand down
In a special Cabinet meeting on Friday, President Gotabaya Rajapaksa declared a state of emergency with effect from Friday midnight.
The declaration, made in an extraordinary gazette late Friday, gives Rajapaksa sweeping powers to suspend laws, detain people and seize property
Sri Lanka has requested foreign-exchange liquidity support for state banks from Asian Infrastructure Investment Bank.
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The crisis-hit Sri Lanka on Friday declared a state of emergency after the crippling strike and protest over the external debt for the second time in five weeks.
The Sri Lankan government on Saturday defended imposing a state of emergency, saying it was required to tackle the unprecedented economic crisis plaguing the country
The International Monetary Fund (IMF) announced it will begin the next round of technical discussions with Sri Lanka from May 9-23
The Sri Lankan Cabinet had been informed that owing to the failure of the Prime Minister to cope with the country's ongoing economic crisis, Mahinda Rajapaksa has sought to resign from his position
The state of emergency gives the police and the security forces sweeping power to arbitrarily arrest and detain people
Sri Lankan Bar Association urged him to revoke the decree while pointing out that stifling public protest is not a solution to the crisis.
Sri Lanka's government has been facing a wave of protests around the country with an increasingly furious public demanding its resignation.
Sri Lanka is facing a shortage of diesel as the ongoing economic crisis worsens in the island country, Minister of Power and Energy Kanchana Wijesekera said on Thursday.
This follows an appeal from Tamil Nadu Chief Minister M K Stalin, also president of the ruling DMK, for donations to help the Lankan people
The Covid-19 pandemic severed the tourism lifeline of the Indian Ocean nation, already short of revenue in the wake of steep tax cuts by the government.
Sri Lankan Finance Minister said discussions with several countries to obtain bridging finance are underway
Sri Lanka's Parliament on Wednesday convened for a crucial session after the main Oppn party submitted no-confidence motions against Rajapaksa for mishandling the country's worst economic crisis.
"We have bitten off more than what we can chew," debt-ridden Sri Lanka's Finance Minister Ali Sabry acknowledged before Parliament on Wednesday
Opposition party SJB handed over to the parliamentary Speaker motions of no-confidence against President Gotabaya Rajapaksa and the government for mishandling the country's worst economic crisis