COLOMBO, May 5 (Xinhua) -- Sri Lanka is facing a shortage of diesel as a foreign exchange crisis worsens in the South Asian country, said Minister of Power and Energy Kanchana Wijesekera on Thursday. The minister told parliament that the country needs 4,000 metric tons of diesel per day....
accumulated terminal employment benefits and savings-related remittances of migrant workers laid off due to the pandemic, receipt of counter-cyclical remittances from less frequent remitters and the shift from informal to formal channels. In the current context of theforeign exchange crisisin ...
The decline of the coir fiber industry in Sri Lanka, which brings valuable foreign exchange, has been a subject of concern as Sri Lanka is a main supplier of coir fiber to the world market. The repercussions of this decline on the country are enormous. In this article we analyze this ...
BANGKOK (AP) — Sri Lanka is desperate for help with weathering its worst crisis in recent memory. Its schools are closed for lack of fuel to get kids and teachers t…
The debt-laden country is struggling to pay for imports of fuel and other goods due to a foreign exchange crisis, leading to hours-long power cuts and a shortage of essentials. Spontaneous street protests continued over the weekend despite a curfew. Article content “Considering this a na...
In a bid to address the foreign exchange crisis in Sri Lanka and ensure a steady supply of fuel, the Ministry of Power and Energy has taken decisive action. Accordingly, an agreement was signed today at the Presidential Secretariat, between the Government of Sri Lanka and RM Parks Inc...
The spokesperson told reporters that the decision was taken with the aim of attracting investments. He also announced that the cabinet of ministers has unanimously agreed to serve without salaries for a period of one year. Sri Lanka, which is in the mid of a foreign exchange crisis, is attemp...
The spokesperson told reporters that the decision was taken with the aim of attracting investments. He also announced that the cabinet of ministers has unanimously agreed to serve without salaries for a period of one year. Sri Lanka, which is in the mid of a foreign exchange crisis, is attemp...
COLOMBO, March 13 (Xinhua) -- The fuel crisis, caused by the shortage of foreign exchange, has severely impacted the Sri Lankan society, worsening the country's economic woes. The recent increase in crude oil prices in the world market has made many wonder whether fuel shortages would be a...
He took over the top job in July 2022 as the economy crumbled under a severe financial crisis triggered by a record shortfall of foreign exchange reserves. But with just one seat in parliament, he needs the support of the SLPP, which holds a parliamentary majority and counts for...