Page 17 - Economic Crisis

Sri Lanka crisis: PM announces financial safety net for social security

Sri Lanka aims to set up a financial safety net of Rs 200 billion to provide social security support to the needy amidst the worst economic crisis in the country, PM Ranil Wickremesinghe has announced

22 per cent of Sri Lankans need food aid amid economic crisis: UN official

A total of 22 per cent of the Sri Lankan population or 4.9 million people live in need of food assistance at the moment, a high-level UN official said on Friday

UN launches $47.2M SOS for Sri Lanka, warns of threat to 'social cohesion'

Warning that the crisis in Sri Lanka will affect its fragile "social cohesion", the UN has launched a $47.2 million appeal for humanitarian assistance

China praises India for helping Sri Lanka deal with economic crisis

China on Wednesday praised India for helping Sri Lanka amid the unprecedented economic crisis in the island nation that has led to a shortage of fuel and other essential items

Only India providing money, says Lankan PM; urges IMF to 'expedite' bailout

Prime Minister Wickremesinghe said that he has urged IMF chief Georgieva to "expedite" its assistance to Lanka and underlined that no country except India is providing money to the nation for fuel.

Brothers at odds, but ruling family still holds key to Lanka's future

Despite the president's order, the demonstrations against inflation, power blackouts and shortages of essentials turned deadly

The Lankan crisis: Forex reserves rise for first time in five months

The stockpile rose to $1.92 billion at the end of May, from $1.81 billion the previous month, according to data released by the central bank

Crisis-hit Sri Lanka seeks $55-mn loan from India for buying fertiliser

Wickremesinghe has said that within five to six months, the current agriculture shortages could be salvaged if swift action was taken to address the shortages faced by the farmers.

UN to provide $48 mn humanitarian assistance to Sri Lanka amid crisis

Sri Lanka PM Minister Ranil Wickremesinghe told Parliament on Tuesday that the UN has planned to provide humanitarian assistance of around $48 million over a four-month period

Sri Lanka PM hints at opting for fuel rationing amid economic crisis

The next three weeks are going to be "tough" for Sri Lanka over fuel supplies, PM warned, indicating that the country, which needs $3,300 million for fuel imports, may opt for its rationing

Sri Lankan Cabinet defers 21st Amendment to the Constitution by a week

Sri Lanka's Cabinet has deferred by a week the approval of the proposed 21st Amendment to the Constitution amidst stiff resistance from some members of the ruling party

Sri Lanka President vows to finish term, won't run for re-election

"I can't go as a failed president," Rajapaksa said Monday in a wide-ranging interview at his official residence in Colombo, his first with a foreign media organization

Sri Lanka holds its breath as PM Wickremesinghe fights to save economy

Sri Lankans are struggling to access the bare necessities like food, fuel, medicine, cooking gas and even toilet paper and matches.

Sri Lankan Cabinet set to discuss 21st Amendment to the Constitution

Sri Lanka's Cabinet is set to discuss today the 21st Amendment to the Constitution to empower Parliament over the executive president

In Sri Lanka, even Rajapaksa heartland paved with Chinese money is broken

The road to Hambantota may be paved with Chinese money, but its value is up for debate - now more than ever

India delivers 3.3 tons of essential medical supplies to Sri Lanka

Indian High Commissioner to Colombo, Gopal Baglay on Friday handed a total of 3.3 tons of essential medical supplies to the 1990 Suwaseriya Ambulance Service

Sri Lanka orders release of Rs 1.8 bn from Covid fund to import medicines

Amid Sri Lanka's unprecedented economic crisis, President Gotabaya Rajapaksa has ordered the release of Rs 1.8 billion from Covid-19 healthcare fund for the import of essential medicines

Pak has forex to pay for 2 months of imports, reserves slip below $10 bn

The stockpile decreased by $366 million in the week ended May 27 to stand at $9.72 billion

Sri Lankan PM Wickremesinghe hopeful of IMF assistance by June end

Wickremesinghe said the government was targeting $ 5 billion this year for repayments, plus a further $ 1 billion to bolster the country's reserves.

Gold prices edge up from 2-week low as inflation worries persist

(Reuters) - Gold prices inched up from a two-week low on Wednesday, supported by worries over rising inflation, although a stronger dollar and rising U.S. yields kept gains in check.