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Sri Lanka Economic Crisis

  • World

    Sri Lankan President slams China over debt restructuring problems at Tokyo event

    by Rahul Kumar May 25, 2023
    by Rahul Kumar May 25, 2023

    Sri Lankan President Ranil Wickremesinghe has criticised China for excluding itself from multilateral talks focused on reducing the island nation’s debt and putting it on to financial stability. However, the …

  • World

    Is China blocking Sri Lanka’s access to an IMF bailout package?

    by Rahul Kumar February 23, 2023
    by Rahul Kumar February 23, 2023

    Voices are being raised in Sri Lanka about the dubious support that fast friend China is providing in Colombo’s bid to get a bail-out loan from the International Monetary Fund …

  • World

    Italy to supply helicopters to Sri Lanka to combat human trafficking

    by Rahul Kumar January 26, 2023
    by Rahul Kumar January 26, 2023

    Italy plans to supply helicopters to Sri Lanka to support its battle against human trafficking, President Ranil Wickremesinghe’s office said on Wednesday. The discussion about the helicopters took place between …

  • World

    India leads in backing Sri Lanka’s case for IMF funds

    by IN Bureau January 22, 2023
    by IN Bureau January 22, 2023

    As part of its Neighbours-First policy, India has taken the lead in backing Sri Lanka’s request for finance and debt restructuring from the International Monetary Fund. While China is expected …

  • World

    Indian Navy chief begins crucial Sri Lanka visit amid Chinese activism in Indian Ocean

    by Ateet Sharma December 12, 2022
    by Ateet Sharma December 12, 2022

    In a visit that amplifies India’s ‘Neighbourhood First’ policy as well as the Security and Growth for All in the Region (SAGAR) doctrine, Chief of Naval Staff (CNS) Admiral R …

  • World

    Sri Lanka holds second round of talks on debt restructuring as China remains aloof

    by IN Bureau November 5, 2022
    by IN Bureau November 5, 2022

    Sri Lankan state minister of finance Shehan Semasinghe told local media that the country is holding the second round of talks with its bilateral creditors. The island nation’s main bilateral …

  • World

    Sri Lanka appoints Maldivian Speaker Nasheed, Norwegian ex-minister Solheim as climate advisors

    by Rahul Kumar October 14, 2022
    by Rahul Kumar October 14, 2022

    Sri Lankan President Ranil Wickremesinghe has appointed former Maldivian president Mohamed Nasheed as his International Climate Advisor. Wickremesinghe also appointed former Norwegian minister Erik Solheim for the same role, reports …

  • World

    Can Sri Lanka downgrade from middle-income to low-income country to get foreign funds?

    by Rahul Kumar October 10, 2022
    by Rahul Kumar October 10, 2022

    With Sri Lanka still on a weak wicket on the economic and financial fronts, it is looking at newer ways to access finances. The government is debating a proposal to …

  • World

    India to train 1,500 Sri Lankan army personnel as part of Neighbourhood First policy

    by IN Bureau October 9, 2022
    by IN Bureau October 9, 2022

    India will provide training to 1,500 personnel of the Sri Lankan armed forces every year. The Sri Lankan media quoted Indian High Commissioner Gopal Baglay as saying that India has …

  • World

    Is China arm-twisting Sri Lanka as price to restructure loan?

    by Rahul Kumar September 16, 2022
    by Rahul Kumar September 16, 2022

    Sri Lankan President Ranil Wickremesinghe said on Thursday that the Indian Ocean region should be open to all for freedom of navigation. He also said that Sri Lanka was open …

  • World

    Sri Lanka approaches Japan, China and India to restructure debt

    by IN Bureau September 13, 2022
    by IN Bureau September 13, 2022

    Sri Lanka plans to hold debt restructuring talks with Japan, China and India—its three largest bilateral creditors. This follows successful talks with the International Monetary Fund (IMF) under which it …

  • Opinion

    India, South Asia and ASEAN should think big—must integrate for global good, says ADB economist

    by Rahul Kumar September 12, 2022
    by Rahul Kumar September 12, 2022

    As the global economy shrinks and countries chase the International Monetary Fund (IMF) and the World Bank (WB) for bailouts, India stands strong as a rock for the South Asian …

  • Opinion

    Quad backs Sri Lanka to salvage economy: Dr Srimal Fernando

    by Rahul Kumar September 1, 2022
    by Rahul Kumar September 1, 2022

    Sri Lanka has seen one of its worst years—the government decided to default on its external debt, widespread shortages of essential items, historic inflation, mass uprisings against the powerful Rajapaksa …

  • World

    Is Japan diluting Chinese influence by supporting Sri Lanka in its economic recovery?

    by Rahul Kumar August 31, 2022
    by Rahul Kumar August 31, 2022

    Japan, one of the main creditors of Sri Lanka along with India and China, plans to organise a meeting of all creditors including international institutions to resolve Colombo’s financial crisis. …

  • World

    Australia, India join hands to provide fuel to Sri Lankan armed forces

    by IN Bureau August 25, 2022
    by IN Bureau August 25, 2022

    Australia has said that it will provide fuel to Sri Lanka’s navy and air force with support from India. With a financial and fuel crisis chasing Sri Lanka since late …

  • Economy

    IOC subsidiary in Sri Lanka to open more fuel stations to counter energy crisis

    by IN Bureau August 12, 2022
    by IN Bureau August 12, 2022

    <p> <strong>Lanka Indian Oil Corporation (LIOC), a subsidiary of Indian Oil Corporation in Sri Lanka, is set to open 50 new fuel stations in the cash-strapped country as it battles …

  • World

    Will Sri Lanka stand up to Chinese pressure on the spy ship row?

    by Rahul Kumar August 9, 2022
    by Rahul Kumar August 9, 2022

    <p> By mounting pressure on Sri Lanka to accept a research ship, which India calls a spy ship, Beijing is testing the depth and the mood in the new Sri …

  • Economy

    Sri Lanka President warns that the economic stress will continue for at least another year

    by IN Bureau August 7, 2022
    by IN Bureau August 7, 2022

    <p> <strong>Sri Lanka’s President Ranil Wickremesinghe has said that the country's economic crisis would continue for at least one more year. He also said that Sri Lanka will have to …

  • Economy

    Sri Lanka’s economic crisis won’t end anytime soon despite talks with IMF

    by IN Bureau August 1, 2022
    by IN Bureau August 1, 2022

    <p> <strong>Sri Lanka’s unprecedented economic crisis will not end anytime soon. While talks have resumed between Colombo and the International Monetary Fund (IMF), it could take a few months before …

  • World

    International human rights body wants Singapore to arrest former Sri Lankan President Gotabaya Rajapaksa

    by IN Bureau July 25, 2022
    by IN Bureau July 25, 2022

    <p> Sri Lankan newspaper <em>Daily Mirror </em>has reported that the South Africa-based International Truth and Justice Project (ITJP) wants former President Gotabaya Rajapaksa arrested for his role in human rights …

  • World

    Resuming talks with IMF will be priority for Wickremesinghe, Sri Lanka’s new President

    by IN Bureau July 21, 2022
    by IN Bureau July 21, 2022

    <p> <strong>Resuming talks with the International Monetary Fund (IMF) for a rescue package will be the immediate task for Ranil Wickremesinghe who took over as the new President of Sri …

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