Page 11 - Economic Crisis

IMF chief describes Sri Lanka as warning sign for nations with high debt

The IMF Chief made these straightforward remarks at the hybrid meeting of the G20 Finance Ministers and Central Bank Governors (FMCBG) held in Indonesia which kicked off on July 15

Lanka introduces fuel pass amid protesters' vow to 'change system'

The country is unable to pay for its essential imports, fuel, food and medicine due to an acute forex crisis

Economic crisis-hit Sri Lanka lowers fuel prices, first since Feb

Sri Lanka's state-run Ceylon Petroleum Corporation (CPC) on Sunday reduced the diesel and petrol retail prices, the first decrease after five hikes since February

Govt calls all-party meet on Lanka crisis on Tuesday; FM, EAM to brief MPs

Leaders of various opposition parties on Sunday demanded that issues of price rise, 'Agnipath' scheme as well as the alleged misuse of investigative agencies be taken up in Parliament

Sri Lanka introduces fuel pass for orderly distribution: Energy minister

This will guarantee a weekly quota for each vehicle, Power and Energy minister Kanchana Wijesekara said after the initiative was launched on Saturday

Sri Lanka introduces fuel pass for orderly distribution: Energy minister

The anti-government protest began on April 9 near the presidential office and has been continuing without a break

Wickremesinghe, Premadasa among four to contest for Lanka presidential poll

Nominations for the election of the new president will be heard on Tuesday and if there is more than one candidate, the lawmakers will vote on Wednesday.

Over 6 million people in crisis-hit Sri Lanka are food insecure: WFP

Over six million people or over 28 per cent of Sri Lanka's population are "food insecure" and this situation is likely to deteriorate as the crisis unfolds in the island nation

India to be supportive of economic recovery in Sri Lanka: Official

Indian High commissioner Gopal Baglay called on the parliament Speaker Mahinda Yapa and said that India will continue to be "supportive of democracy, stability and economic recovery in Sri Lanka"

United Nations urges for 'peaceful transition of power' in Sri Lanka

United Nations in Sri Lanka has urged all stakeholders in the island nation to ensure a peaceful transition of power in full respect for the Constitution

Sri Lankan Parliament announces president's vacancy as Rajapaksa resigns

Sri Lanka's Parliament met in a brief special session on Saturday to announce the vacancy in the presidency following the resignation of Gotabaya Rajapaksa, who has fled the country

G20 finance leaders seek consensus to overcome global economic threats

The third G20 Finance Ministers and Central Bank Governors meeting began on Friday in Indonesia's Bali resort island, with the finance leaders seeking ways to tackle global economic threats

Sri Lanka's ruling party to nominate interim President for presidency

Sri Lanka's ruling party has said they would nominate interim President Ranil Wickremesinghe to the presidency when the Parliament elects a new President on July 20

Sri Lanka crisis: Ranil Wickremesinghe takes oath as acting president

Gotabaya Rajapaksa, who fled to the Maldives on Wednesday and then landed in Singapore on Thursday, has formally resigned, Speaker Mahinda Yapa Abeywardena confirmed early on Friday

Int'l community will not let cash-strapped Pak to become Sri Lanka: Report

There is tacit coordination that the international community will not let cash-strapped Pakistan -- as long as it stays on course -- to become Sri Lanka, a media report said on Friday

Ranil Wickremesinghe sworn in as Lanka's interim prez amid political crisis

Wickremesinghe, 73, was sworn in as the acting president of Sri Lanka before Chief Justice Jayantha Jayasuriya, the prime minister's office said in a statement

Sri Lanka: Speaker formally accepts Gotabaya Rajapaksa's resignation

Crowds set off firecrackers, shouted slogans and danced ecstatically at the Gota Go Gama protest site, named mockingly after Rajapaksa's first name

Sri Lankan Speaker officially announces resignation of President Gotabaya

Sri Lankan President Gotabaya Rajapaksa has resigned, Parliament Speaker Mahinda Yapa Abeywardenaon officially announced on Friday, after a week of dramatic developments

China's investment in Sri Lanka is part of Lankan crisis: Arvind Panagariya

Panagariya said, "Crisis in Sri Lanka happened due to its polices in the last 10 years. Sri Lanka went out on borrowing spree and the foreign debt almost doubled in relation to the size of the economy

Lankan parties to reach consensus, propose PM's name to Speaker on Friday

Sri Lankan political parties after holding a discussion will reach a consensus and propose a name for the position of Prime Minister to the Speaker of the Parliament, local media reported.