Lanka Economy

Cash-strapped Sri Lanka's economy recorded falling consumer prices for the first time in 29 years, official data showed Monday, with the September inflation figure dipping to negative 0.5 per cent.

When Sri Lanka's economy crashed in 2022, people sought work abroad wherever they could find it -- including ex-soldiers who joined forces fighting in Ukraine after Russia's invasion.

Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.

Sri Lanka sent hundreds of soldiers to key hospitals to help look after patients on Thursday, as hospital orderlies and administrative staff launched a one-day strike nationwide over allowances.

Sri Lankan President Ranil Wickremesinghe on Monday presented his government's 2024 budget, emphasising the need for tough reforms until the full recovery of the cash-strapped island nation's economy.

Australia defeated Sri Lanka after consecutive losses against India and South Africa in the Cricket World Cup 2023.

Billionaire Gautam Adani on Friday proposed to set up a green hydrogen plant in Sri Lanka, where his conglomerate is already developing a container terminal and a 500 MW wind project.

Sri Lanka's Parliament on Friday approved the much-needed USD 3 billion IMF bailout package to revive the island's economy which was hit hard by a catastrophic economic and humanitarian crisis sparked by years of mismanagement and the raging pandemic

Sri Lanka must not allow entrenched corruption to undermine a bailout for its bankrupt economy, the IMF said Tuesday after signing off on a $3 billion loan for the crisis-hit nation.

The IMF has approved a $3 billion bailout programme to help debt-ridden Sri Lanka overcome its economic crisis and catalyse financial support from other development partners, a move welcomed by Colombo on Tuesday as a "historic milestone".

The wind power plant in Mannar will operate at a capacity of 250 MW (megawatt) while the wind power plant in Pooneryn will operate at a capacity of 100 MW.

S Jaishankar announced that India has given the required assurances to debt-ridden Sri Lanka for the much-needed IMF bailout package, becoming the first major lender to publicly back the island nation's efforts.

India will encourage greater investments in Sri Lanka's economy, especially in areas of energy, tourism and infrastructure, External Affairs Minister S Jaishankar said on today.

Sri Lanka on Friday thanked India for the generous support of a USD 3.9 billion credit line last year and the assurances given to the IMF to restructure the country's debt.

S Jaishankar is on a three-day visit to the Maldives and Sri Lanka beginning to further expand bilateral engagement with the two key maritime neighbours of India.

Cash-strapped Sri Lanka's economy recorded falling consumer prices for the first time in 29 years, official data showed Monday, with the September inflation figure dipping to negative 0.5 per cent.

When Sri Lanka's economy crashed in 2022, people sought work abroad wherever they could find it -- including ex-soldiers who joined forces fighting in Ukraine after Russia's invasion.

Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.

Sri Lanka sent hundreds of soldiers to key hospitals to help look after patients on Thursday, as hospital orderlies and administrative staff launched a one-day strike nationwide over allowances.

Sri Lankan President Ranil Wickremesinghe on Monday presented his government's 2024 budget, emphasising the need for tough reforms until the full recovery of the cash-strapped island nation's economy.

Australia defeated Sri Lanka after consecutive losses against India and South Africa in the Cricket World Cup 2023.

Billionaire Gautam Adani on Friday proposed to set up a green hydrogen plant in Sri Lanka, where his conglomerate is already developing a container terminal and a 500 MW wind project.

Sri Lanka's Parliament on Friday approved the much-needed USD 3 billion IMF bailout package to revive the island's economy which was hit hard by a catastrophic economic and humanitarian crisis sparked by years of mismanagement and the raging pandemic

Sri Lanka must not allow entrenched corruption to undermine a bailout for its bankrupt economy, the IMF said Tuesday after signing off on a $3 billion loan for the crisis-hit nation.

The IMF has approved a $3 billion bailout programme to help debt-ridden Sri Lanka overcome its economic crisis and catalyse financial support from other development partners, a move welcomed by Colombo on Tuesday as a "historic milestone".

The wind power plant in Mannar will operate at a capacity of 250 MW (megawatt) while the wind power plant in Pooneryn will operate at a capacity of 100 MW.

S Jaishankar announced that India has given the required assurances to debt-ridden Sri Lanka for the much-needed IMF bailout package, becoming the first major lender to publicly back the island nation's efforts.

India will encourage greater investments in Sri Lanka's economy, especially in areas of energy, tourism and infrastructure, External Affairs Minister S Jaishankar said on today.

Sri Lanka on Friday thanked India for the generous support of a USD 3.9 billion credit line last year and the assurances given to the IMF to restructure the country's debt.

S Jaishankar is on a three-day visit to the Maldives and Sri Lanka beginning to further expand bilateral engagement with the two key maritime neighbours of India.