Additionally, the increasing prices on grain caused by the war in Ukraine and rising fuel prices globally have played into an already dire situation in Sri Lanka. The Key Information “Our economy has completely collapsed.” Prime minister Ranil Wickremesinghe to Parliament last week. ...
“This decision was taken by the SLC, following a request made by the Innovative Production Group FZE (IPG), the Rights Holder of the tournament, which cited the current ‘economic situation,’ in the country, as not conducive to hosting the tournament,” Sri Lanka Cricket (SLC) released a...
This situation underscores the importance of prudent fiscal management and the implementation of structural reforms to ensure sustainable economic growth in Sri Lanka. online pharmacybuy glucophagewith best prices today in the USA
COLOMBO, March 13 (Xinhua) -- An all-party conference in Sri Lanka will be held on March 23 to discuss the current economic situation in the South Asian country, said local media reports on Sunday quoting the presidential secretariat. The conference will be presided over by President Gotabaya ...
What is the situation in Sri Lanka? The country faces huge debt obligations and dwindling foreign reserves. As a result, it has struggled to pay for imports and is now dealing with a lack of basic supplies. People have to wait in long queues for gas, and e...
Present situation A severe shortage of foreign currency Shortage of essential goods, including fuel, food etc. Steep devaluation of currency Inflation is very high How did Sri Lanka get here? Critics say the roots of the crisis, the worst in several decades, lie in economic mismanagement by suc...
Sri Lanka’s finance ministry and the IMF did not immediately respond to questions from Reuters. ‘TOUGH SITUATION’ A combination of historically weak government finances, badly timed tax cuts and the COVID-19 pandemic, which hit the country’s lucrative tourism industry and foreign remittances, ...
“If that happens there may be a situation where we won’t be able to save patients’ lives.” Sri Lanka is in the midst of its worst economic crisis in history. The country imports around 85% of its medical supplies. But with foreign currency reserves running low, essential drugs are ...
Sri Lanka's government is currently negotiating its debt repayments with bondholders and creditors before the IMF reviews the situation in September. Source: courtesy of BBC NEWS by Mariko Oi | Business reporter If you have any stories or news that you would like to share with the global onli...
The address also touched on the challenges Sri Lanka faced in the past, particularly the balance of payments situation, which was affected by global conditions, reducing remittances and tourism. However, the Governor expressed optimism for the future. Both sectors have shown signs of recovery, and...