Sri Lanka Economy 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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Sri Lanka's Economy Not Out Crisis Yet, Says President In Budget Speech
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.
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Sri Lanka Approves IMF's $3 Billion Bailout Package
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
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IMF Approves $3 Billion Bailout For Debt-Ridden Sri Lanka
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".
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Sri Lanka Inflation Rate Surges To 70.2% In August
Consumer inflation in Sri Lanka accelerated to 70.2% in August, the statistics department said on Wednesday, as the island nation reels under its worst economic crisis in decades.
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Sri Lanka's Economy Shrinks 8.4 Per Cent Amid Fertiliser, Fuel Shortages
Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.
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Sri Lanka's IMF Bailout Deal Could Be A Turning Point, Now It Courts China And India
Sri Lanka's International Monetary Fund bailout plan could be a turning point in its worst economic crisis.
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Sri Lanka Bans Import Of 300 Consumer Goods' Items To Stabilise Economy
Sri Lanka has slapped a ban on the import of 300 consumer items like chocolates, perfumes and shampoos as part of the cash-strapped island nation's bid to tackle its worst economic crisis triggered by the shortage of foreign exchange.
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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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"We Are Not Creating Jobs Even With The Growth We Have": Raghuram Rajan To NDTV
Former RBI Governor Raghuram Rajan today said that that even though India has higher growth than many economies in the world, it is not enough.
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"Silly" To Compare Sri Lanka's Economic Crisis With India: Former NITI Aayog Vice-Chairman
Former NITI Aayog Vice-Chairman Arvind Panagariya on Sunday said it would be 'silly' to compare the economic situation of Sri Lanka with India.
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"Boosted Sri-Lanka Economy, Not Bankrupted It": China Slams US Criticism
China on Thursday defended its massive infrastructure ventures and investments in crisis-hit Sri Lanka and said that they have "boosted" its economic development.
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No Recession Risk For India, Probability High For Key Economies: Report
According to surveys, Asia faces 20-25 per cent of witnessing a recession while Sri Lanka is almost on the brink of getting into a crisis with an 85 per cent probability of slipping into recession.
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Ranil Wickremesinghe: From PM To President In Sri Lanka's Troubled Times
Ranil Wickremesinghe, a seasoned politician who was appointed as the Prime Minister in May to deal with Sri Lanka's worst economic crisis in decades, faces new challenges to fix a collapsed economy, end political turmoil and unite Sri Lanka.
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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.
-
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.
-
Sri Lanka's Economy Not Out Crisis Yet, Says President In Budget Speech
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.
-
Sri Lanka Approves IMF's $3 Billion Bailout Package
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
-
IMF Approves $3 Billion Bailout For Debt-Ridden Sri Lanka
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".
-
Sri Lanka Inflation Rate Surges To 70.2% In August
Consumer inflation in Sri Lanka accelerated to 70.2% in August, the statistics department said on Wednesday, as the island nation reels under its worst economic crisis in decades.
-
Sri Lanka's Economy Shrinks 8.4 Per Cent Amid Fertiliser, Fuel Shortages
Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.
-
Sri Lanka's IMF Bailout Deal Could Be A Turning Point, Now It Courts China And India
Sri Lanka's International Monetary Fund bailout plan could be a turning point in its worst economic crisis.
-
Sri Lanka Bans Import Of 300 Consumer Goods' Items To Stabilise Economy
Sri Lanka has slapped a ban on the import of 300 consumer items like chocolates, perfumes and shampoos as part of the cash-strapped island nation's bid to tackle its worst economic crisis triggered by the shortage of foreign exchange.
-
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.
-
"We Are Not Creating Jobs Even With The Growth We Have": Raghuram Rajan To NDTV
Former RBI Governor Raghuram Rajan today said that that even though India has higher growth than many economies in the world, it is not enough.
-
"Silly" To Compare Sri Lanka's Economic Crisis With India: Former NITI Aayog Vice-Chairman
Former NITI Aayog Vice-Chairman Arvind Panagariya on Sunday said it would be 'silly' to compare the economic situation of Sri Lanka with India.
-
"Boosted Sri-Lanka Economy, Not Bankrupted It": China Slams US Criticism
China on Thursday defended its massive infrastructure ventures and investments in crisis-hit Sri Lanka and said that they have "boosted" its economic development.
-
No Recession Risk For India, Probability High For Key Economies: Report
According to surveys, Asia faces 20-25 per cent of witnessing a recession while Sri Lanka is almost on the brink of getting into a crisis with an 85 per cent probability of slipping into recession.
-
Ranil Wickremesinghe: From PM To President In Sri Lanka's Troubled Times
Ranil Wickremesinghe, a seasoned politician who was appointed as the Prime Minister in May to deal with Sri Lanka's worst economic crisis in decades, faces new challenges to fix a collapsed economy, end political turmoil and unite Sri Lanka.
-
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.
