Also on Thursday night, Secretary to the Ministry of Finance Mahinda Siriwardana gave a presentation to the parliamentarians on the short and medium-term strategies of the government to overcome the current economic crisis. Sri Lanka is facing the most serious economic crisis since its independence....
Sri Lanka's central bank has laid out the extent of the country's worst economic crisis in more than 70 years. In its annual report, the bank outlined how last year wages failed to keep up with the soaring cost of everything from food to fuel. "Several inherent weaknesses" and "policy...
"The SEC has carefully considered the grounds that have been adduced by them and has evaluated the impact the present situation in the country could have on the stock market, in particular the ability to conduct an orderly and fair market for trading in securities," the SEC said. The SEC s...
The move to approach the IMF for help comes after months of resistance from Sri Lanka’s government and central bank, despite calls from opposition leaders and experts to seek a bailout package. Finance Minister Basil Rajapaksa will travel to Washington in mid-April to present Sri Lanka’s pro...
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...
pandemic, and economic turmoil. However, the speakers at the event including the Chief Executive of HSBC Sri Lanka and the Maldives, the Central Bank Governor of Sri Lanka, and leading economists of HSBC, highlighted several positive developments rekindling hope for the nation’s economic recovery....
As clearly seen, Sri Lanka’s democracy has mainly been steered by a few families who have been governing this country for nearly 76 years. These families are known to be upper middle class and the elite of the society. They have nourished and sustained family politics for dec...
ECONOMYNEXT – Sri Lanka is trying to find a solution to high costs of poultry feed amid import duties and trade controls for maize, which is keeping eggs and meat prices high, in a country which has high child malnutrition. To give unusually high profits to maize farmers and maize ...
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The Consul General of Sri Lanka in Shanghai, Lakshitha Ratnayake was interviewed by Eastday.com during this promotional event held in Yangpu District on March 22, 2017. He talked about the present situation relating to cooperation between China and Sri Lanka in the areas of investment and trade...