This damaged its reputation with lenders, making it even harder to borrow money on the international markets. "The Sri Lankan economy faced its most onerous year in its post-independence history," the report said. An "unsustainable" economic model "steered the country towards a multifaceted disast...
A general view of city’s skyline, amid the country’s economic crisis in Colombo, Sri Lanka. (REUTERS / Dinuka Liyanawatte) Sri Lanka’s new government will release the 2023 budget on Monday focused on boosting revenue, implementing tax reforms and fiscal consolidation to secu...
Sri Lanka’s year-on-year economic expansion in the third quarter of 2023 was 1.6% and in the fourth quarter 4.5%, the IMF said. The economic crisis in early 2022 left Sri Lankans suffering from severe shortages of food, medicine, fuel and power, drawing strident pr...
ECONOMYNEXT – Sri Lanka’s government is expected not to rely on money printing by the central bank as it hopes to meet all the government finances from the increased taxes, the junior finance minister said, as the island nation is facing an unprecedented economic crisis. Sri Lanka has...
Sri Lankan prime minister said Sri Lanka was also in discussions with India, Japan, and China about forming an aidconsortiumthat could intervene if the IMF agreed to help Sri Lanka weather the crisis. 斯里兰卡总理说,斯里兰卡在与印度、日本和中国讨论组建一个援助财团,如果国际货币基金组织同意帮助斯里...
Sri Lanka on Saturday invited Japan to resume investment in projects including power, roads and ports as the Japanese foreign minister wrapped up the first high-level visit to the crisis-hit country in nearly four years.
Any adverse impacts on the tourism industry could derail Sri Lanka’s recovery from an unprecedented economic crisis after declaring sovereign debt default in 2022. Tourism has been one of the key components in the island nation’s economic recovery. ...
8, 2023. Sri Lanka’s president said Tuesday that China has given crucial debt restructuring assurances that mean the bankrupt Indian Ocean nation could get its $2.9 billion bailout package approved soon. (AP Photo/Eranga Jayawardena, file) Read More 2 of 2 | Sri Lankan president Ranil ...
IMF- Extended Fund Facility (EFF) programe and debt restructuring negotiations, and the reforms that have already been undertaken and those that are to be implemented in the period ahead, the Sri Lankan economy is expected to transition onto the path to recovery from the latter part of 2023....
7. Sri Lanka expressed appreciation to China's valuable support during the COVID-19 pandemic as well as during the economic crisis in 2022. 8. China has provided a financing support document to Sri Lanka in a timely manner and helped Sri Lanka obtain loans from the International Monetary Fund...