You are here: Home » International » News » Economy
Business Standard

Sri Lankan leaders promise to address challenges amid economic crisis

The Sri Lankan government is taking various approaches to address current challenges faced by the country, the nation's President and the PM said in their messages on the International Labour Day.

Topics
sri lanka | Mahinda Rajapaksa | Economic Crisis

ANI 

Sri Lanka names new ministers as old team quits amid economic crisis

The Sri Lankan government is taking various approaches to address current challenges faced by the country, the country's President and the Prime Minister said in their messages on the Labour Day.

"The government is taking various approaches to liberate the people from this situation and alleviate the oppressive nature of the situation," President Gotabaya Rajapaksa was quoted as saying by Xinhua.

In his message, Gotabaya Rajapaksa again invited the leaders of all political parties to come to a consensus on behalf of the people to overcome the challenge faced by the country.

Sri Lankan Prime Minister said the government is currently taking all possible measures to manage the and is seeking the necessary support at the local and levels.

Protesters in the country have been calling for immediate measures to be taken by the government to solve the current featuring shortages of foreign exchange, fuel and other essential supplies as well as rising inflation.

is facing one of the worst economic woes since gaining independence in 1948. It is grappling with food and electricity shortages, affecting many people, forcing the country to seek help from its neighbours.

The recession is attributed to foreign exchange shortages caused by a clampdown on tourism during the COVID-19 pandemic. It has left the country unable to buy enough fuel, with people facing an acute scarcity of food and basic necessities, heating fuel, and gas.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, May 01 2022. 16:09 IST
RECOMMENDED FOR YOU
.