Sri Lanka Debt Crisis
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Sri Lanka Partially Repays Iranian Oil Bebt With $20 Million Worth Of Tea
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.
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IMF Resumes $2.9 Loan Billion Bailout For Sri Lanka
The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.
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Financially Stuck Sri Lanka, Moves To Restructure Domestic Debt
Sri Lankan authorities have declared a five-day closure of financial markets from Thursday ahead of a controversial move to restructure the government's domestic debt amounting to more than $51 billion.
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Ahead Of IMF Bailout, Sri Lanka Seeks "10-Year" Time To Repay Debt
Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe's office said Monday on the eve of a desperately needed $2.9 billion IMF bailout.
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"Will Play Positive Role" In Helping Bankrupt Sri Lanka, Says China
China said on Wednesday that it would "play a positive role" in helping bankrupt Sri Lanka get through its debt crisis after agreeing to restructure its loans.
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"How Can We Manage": Power Price Hike Pushes Crisis-Hit Sri Lanka On Brink
The latest electricity price rise in crisis-hit Sri Lanka has left stall owner Mohammed Lafeel in a quandary: the 66% increase means he can't afford to pay for electricity but can't manage without it so goes deeper into debt to keep it on.
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Sri Lanka Hikes Power Prices By 275 Per Cent To Secure IMF Deal
Sri Lanka's electricity board hiked consumer rates by up to 275 percent, officials said Thursday, the second steep increase in months as the bankrupt island nation works to secure an IMF bailout.
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India Writes To IMF Supporting Sri Lanka's Debt Restructuring Plan: Report
New Delhi's backing comes at a critical time for Sri Lanka as it has to put its massively indebted public finances in order to unlock the IMF loan that was agreed in September.
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Debt Restructuring Talks With India Were "Successful": Sri Lanka President
Sri Lanka, which is trying to secure a $2.9 billion bridge loan from the International Monetary Fund (IMF), is also looking at financial assurances from its major creditors - China, Japan, and India.
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Sri Lankan Tower, Taller Than 1,000 Feet, Displays Beijing's Control
A huge green and purple communications tower in Sri Lanka financed with Chinese debt that has become a symbol of the ousted Rajapaksa clan's closeness to Beijing will finally open this week.
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Sri Lanka Considering Sovereign And Local Debt Restructure: President
Sri Lanka is considering a restructure of local and sovereign debt, President Ranil Wickremesinghe said on Friday, as the island nation battles its worst financial crisis in its independent history.
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Sri Lanka Needs To Talk To China On Debt Restructuring, Says IMF
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state's government seeks a financing loan from the IMF.
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Sri Lanka's Economic Crisis A Warning To Other Countries With High Debt: IMF Chief
International Monetary Fund (IMF) chief Kristalina Georgieva has cited the example of the unprecedented economic crisis in Sri Lanka to warn other countries that they could also face a similar situation in the face of high debt levels and limited policy space.
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These Countries At Risk Of A Deep Economic Crisis
A rampant dollar at a two-decade high crushing most currencies' buying power in international markets, fears of an economic downturn and burned foreign exchange reserves point to a record number of developing nations now in dire straits.
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After Sri Lanka, A Dozen Other Countries In The Danger Zone Of Economic Crisis
Sri Lanka, Lebanon, Russia, Suriname and Zambia are already in default, Belarus is on the brink and at least another dozen are in the danger zone as rising borrowing costs, inflation and debt all stoke fears of economic collapse.
-
Sri Lanka Partially Repays Iranian Oil Bebt With $20 Million Worth Of Tea
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.
-
IMF Resumes $2.9 Loan Billion Bailout For Sri Lanka
The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.
-
Financially Stuck Sri Lanka, Moves To Restructure Domestic Debt
Sri Lankan authorities have declared a five-day closure of financial markets from Thursday ahead of a controversial move to restructure the government's domestic debt amounting to more than $51 billion.
-
Ahead Of IMF Bailout, Sri Lanka Seeks "10-Year" Time To Repay Debt
Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe's office said Monday on the eve of a desperately needed $2.9 billion IMF bailout.
-
"Will Play Positive Role" In Helping Bankrupt Sri Lanka, Says China
China said on Wednesday that it would "play a positive role" in helping bankrupt Sri Lanka get through its debt crisis after agreeing to restructure its loans.
-
"How Can We Manage": Power Price Hike Pushes Crisis-Hit Sri Lanka On Brink
The latest electricity price rise in crisis-hit Sri Lanka has left stall owner Mohammed Lafeel in a quandary: the 66% increase means he can't afford to pay for electricity but can't manage without it so goes deeper into debt to keep it on.
-
Sri Lanka Hikes Power Prices By 275 Per Cent To Secure IMF Deal
Sri Lanka's electricity board hiked consumer rates by up to 275 percent, officials said Thursday, the second steep increase in months as the bankrupt island nation works to secure an IMF bailout.
-
India Writes To IMF Supporting Sri Lanka's Debt Restructuring Plan: Report
New Delhi's backing comes at a critical time for Sri Lanka as it has to put its massively indebted public finances in order to unlock the IMF loan that was agreed in September.
-
Debt Restructuring Talks With India Were "Successful": Sri Lanka President
Sri Lanka, which is trying to secure a $2.9 billion bridge loan from the International Monetary Fund (IMF), is also looking at financial assurances from its major creditors - China, Japan, and India.
-
Sri Lankan Tower, Taller Than 1,000 Feet, Displays Beijing's Control
A huge green and purple communications tower in Sri Lanka financed with Chinese debt that has become a symbol of the ousted Rajapaksa clan's closeness to Beijing will finally open this week.
-
Sri Lanka Considering Sovereign And Local Debt Restructure: President
Sri Lanka is considering a restructure of local and sovereign debt, President Ranil Wickremesinghe said on Friday, as the island nation battles its worst financial crisis in its independent history.
-
Sri Lanka Needs To Talk To China On Debt Restructuring, Says IMF
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state's government seeks a financing loan from the IMF.
-
Sri Lanka's Economic Crisis A Warning To Other Countries With High Debt: IMF Chief
International Monetary Fund (IMF) chief Kristalina Georgieva has cited the example of the unprecedented economic crisis in Sri Lanka to warn other countries that they could also face a similar situation in the face of high debt levels and limited policy space.
-
These Countries At Risk Of A Deep Economic Crisis
A rampant dollar at a two-decade high crushing most currencies' buying power in international markets, fears of an economic downturn and burned foreign exchange reserves point to a record number of developing nations now in dire straits.
-
After Sri Lanka, A Dozen Other Countries In The Danger Zone Of Economic Crisis
Sri Lanka, Lebanon, Russia, Suriname and Zambia are already in default, Belarus is on the brink and at least another dozen are in the danger zone as rising borrowing costs, inflation and debt all stoke fears of economic collapse.
