Page 19 - Economic Crisis

Need ample assurances on Sri Lanka's debt sustainability restoration: IMF

As Sri Lanka's public debt is assessed as "unsustainable," the IMF said it requires sufficient assurance from the nation that it will restore debt sustainability during the debt restructuring process

Rising risk of Sri Lankan banks defaulting on their obligations: S&P

This trend is expected to persist until the Sri Lanka's external situation stabilises, which may take time, S&P said in a statement

Sri Lanka PM Wickremesinghe stresses urgency for economic reform plan

Sri Lanka's PM Ranil Wickremesinghe said that he will quickly prepare an economic reform programme and seek approval from the International Monetary Fund

Fuel distribution in Sri Lanka gets more difficult amid public unrest

Fuel distribution in crisis-hit Sri Lanka has become more challenging due to public anger and a record hike in fuel prices with people many a times spending more than a day to get fuel

World Bank rules out new loan commitments to crisis-hit Sri Lanka

The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation's economy sets up an adequate macroeconomic policy framework

Sri Lanka inflation could top 40%, warns PM Ranil Wickremesinghe

'We have no rupee revenue, and now we have to print another (one) trillion rupees,' he said

USAID admin calls Lankan PM, offers support to overcome financial crisis

The US development agency has pledged support to the people of Sri Lanka, saying that it is committed to helping the island nation weather the financial crisis

Indian consignment of 40,000 MT of petrol reaches crisis hit-Sri Lanka

A consignment of around 40,000 metric tonnes of petrol from India reached Sri Lanka, which is reeling under its worst-ever economic crisis, on Monday, the Indian mission in the island nation announced

Pak FM rules out removal of fuel, power subsidies ahead of IMF talks

Pakistan FM Miftah Ismail said on Monday that the government will not remove subsidies on power and fuel as per the commitment made by the previous government with the IMF.

Sri Lankan police arrest 1,500 people in connection with May 9 violence

Sri Lankan police have arrested at least 1,500 so far in connection with the violent clashes between anti- and pro-government protesters earlier this month that killed at least 10 and injured over 200

Economic turmoil in Sri Lanka is small preview of a global default crisis

In Sri Lanka, pharmacies are running out of medicine; and hospitals are dangerously short of lifesaving drugs and devices

India sends over 2 bn humanitarian aid consignment to Sri Lanka amid crisis

As Sri Lanka grapples with a massive economic crisis, India handed over a large amount of humanitarian assistance consignment worth over Rs 2 billion to the island country which reached Colombo on Sunday.The High Commissioner of India in Colombo, Gopal Baglay handed over the consignment to the senior leadership of the Government of Sri Lanka, reported Colombo Page. The consignment comprises 9,000 metric tons of rice, and 50 metric tons of milk powder, coupled with over 25 metric tons of drugs and other pharmaceutical supplies.Talking to Twitter, the Indian High Commission to Colombo said, "A message of care! From the people of to the people of ...High Commissioner handed over rice, milk powder & medicines worth more than SLR 2 billion to Hon'ble FM Prof.G.L Peiris in #Colombo today. Hon'ble Minister @nimaldsilva, @VajiraAbey, @SagalaRatnayaka, @S_Thondaman."Earlier, the Indian High Commission also tweeted: "People of #India, standing by their bretheren in #SriLanka. Rice, milk ...

India supplies another 40,000 metric tonnes of diesel to Sri Lanka

India on Saturday provided another 40,000 metric tonnes of diesel to Sri Lanka under the credit line facility to the island nation which is grappling with its worst economic crisis.

Sri Lanka lifts state of emergency amid economic crisis, anti-govt protests

The Sri Lankan government lifted the state of emergency from Saturday, nearly two weeks after it was imposed across the island nation as it faced unprecedented economic and anti-government protests. Embattled Sri Lankan President Gotabaya Rajapaksa had declared a state of emergency with effect from May 6 midnight, the second time in just over a month amidst growing countrywide anti-government protests over the economic crisis. The Presidential Secretariat stated that the state of emergency has been lifted with effect from Friday midnight, Hiru News reported. The move was taken with the improvement of the law and order situation in the island nation. The state of emergency gave the police and the security forces sweeping power to arbitrarily arrest and detain people. The president's decision to declare the emergency had come amidst weeks of protests demanding his resignation and the government, blaming the powerful Rajapaksa clan for mishandling the island nation's economy, already

India, Japan to provide relief supplies worth millions to Sri Lanka

India and Japan will provide food relief supplies worth millions of dollars to Sri Lanka that is grappling with its worst economic crisis, leading to protests over the government's mismanagement

Talks between debt ridden-Sri Lanka, IMF to to conclude on May 24

The ongoing discussion between International Monetary Fund (IMF) and Sri Lanka, to help mitigate the economic situation will conclude on May 24

Japan provides $1.5 million for medicines to Sri Lanka through UNICEF

The Japanese government came forward to help Sri Lanka by providing $1.5 million for essential medicines through UNICEF to meet the urgent needs of the population.

Ship with relief materials from India for Lanka to reach Colombo on Sunday

An Indian ship laden with urgent relief supplies like rice, medicines and milk powder for the people of crisis-hit Sri Lanka is scheduled to reach Colombo on Sunday, the Indian High Commission said

'We are going to die': Lanka's PM Wickremesinghe warns of a food shortage

A decision in April last year by Prez Gotabaya to ban all chemical fertilisers drastically cut crop yields and although the govt has reversed the ban, no substantial imports have yet taken place

Sri Lanka closes schools, limits work as nation prepares for fuel shortage

Sri Lankan authorities closed schools and asked public officials not to come to work in a desperate move to prepare for an acute fuel shortage that is expected to last days