Sri Lanka’s new President Anura Kumara Dissanayake has dissolved parliament and called for a parliamentary election in an effort to consolidate his mandate following his weekend election victory. September 25 Who is Anura Kumara Dissanayake, Sri Lanka’s new Marxist president? Marxist politician Anur...
Sri Lanka is bankrupt and the acute pain of its unprecedented economic crisis will linger until at least the end of next year, Prime Minister Ranil Wickremesinghe told parliament Tuesday. The island nation's 22 million people have endured months of gall
(Lanka-e-News -09.July.2024, 11.30 PM) In April 2022, Sri Lanka faced an unprecedented economic crisis, culminating in the country's first sovereign default since its independence in 1948. The crisis exposed deep-rooted structural issues, rampant corruption, and political mismanagement, leading t...
who they feel have failed to deliver meaningful development in Sri Lanka. Over the years, billions were borrowed and mismanaged, leading the country to bankruptcy. Young voters now question the political elite, who live in luxury while the country suffers. They view the NPP as a solution to ...
Sri Lanka is on the brink of bankruptcy, with nearly $7 billion of its total $25 billion in foreign debt due for repayment this year. A severe shortage of foreign exchange means the country lacks money to buy imported goods. Advertisement Sri Lankans have endured months of shortages of esse...
The recent volatility in rupee has been driven by speculation and banks covering open positions on a Sri Lanka Development Bond exchange, Central Bank's Director of Economic Research P K G Harischandra, said.
Sri Lanka is waiting for its president to resign after protesters stormed a series of government buildings. It was the latest in a long series of protests that have been taking place on the island nation of 22 million people since the end of March, due to an ...
Sri Lankan President Ranil Wickremesinghe underscored the imperative to fortify the nation’s economy, ensuring that forthcoming generations are spared from enduring the unfortunate period that both the country and its people have weathered in the past t
Jaffna, port, northern Sri Lanka. It is situated on a flat, dry peninsula at the island’s northern tip. The trading centre for the agricultural produce of the peninsula and nearby islands, it is linked with the rest of the country by road and a railway.
“Due to the state of bankruptcy our country is in, we have to submit a plan on our debt sustainability to (the IMF) separately,” he added. “Only when they are satisfied with that plan can we reach an agreement at the staff level. This is not a straightforward process.” Read mor...