Page 27 - Economic Crisis

Nepal tightens imports amidst narrowing foreign exchange reserves

Nepal's finance minister said that a proposal had been forwarded to temporarily ban the import of expensive and luxurious vehicles

Drugs running out, surgeries cancelled as Sri Lanka's health system buckles

The lack of foreign exchange has left President Gotabaya Rajapaksa's government unable to import essentials including medicines and fueL

Sri Lanka says will default on all external debt to pay for food

All outstanding payments to bond holders, bilateral creditors and institutional lenders will be suspended until a debt restructure, Lanka's finance ministry said

Sri Lanka suspends external debt payments, says needs money for essentials

Street protests against shortages of fuel, power, food and medicine have gone on for more than a month

Top headlines: Sri Lanka suspends external debt, Adani 6th richest in world

Biden administration reaffirms its commitment to support India's permanent membership.

Lankan PM says govt working round-the-clock to overcome economic crisis

The government is spending every second of the day to resolve this problem. My family is being slandered, we can tolerate it, Mahinda said

Street fights have dangerous ends, Sri Lanka PM warns protestors

The PM admitted that the country was falling over a precipice though his government was able to save it from the Covid-19 pandemic

SL faces worst economic crisis since gaining independence in 1948: BBC

Sri Lanka is facing its worst economic crisis since gaining independence from the British in 1948 which has triggered food shortages, soaring prices and power cuts.

Turkey-China ties become one-way street amid increasing economic crisis

The ties between Turkey and China have almost become a one-way street as the financial situation of Ankara and Beijing is weakening

Sri Lankan President invites independent MPs to discuss economic crisis

Last week the entire Sri Lankan cabinet resigned apart from Mahinda at a time when the country was facing its worst economic crisis since gaining independence from the UK in 1948

Sri Lanka raises key interest rates by 700 basis points to 14.5%

The heavily indebted country has little money left to pay for imports, meaning fuel, power, food and, increasingly, medicines are in short supply

New Sri Lanka central bank boss calls monetary policy meet on Friday

Nandalal Weerasinghe, a former senior deputy governor of the Central Bank of Sri Lanka who has worked with the IMF, will replace Cabraal on Thursday

Pakistan seeks to skirt crisis with biggest rate hike since 1996

The key rate now stands at 12.25 per cent, State Bank of Pakistan said in a statement on Thursday

India stand ready to continue to help Sri Lanka: External Affairs Ministry

As Sri Lanka reels under a severe economic crisis that triggered a political upheaval, India said it is ready to continue helping the nation to recover from difficulties

Sri Lanka's economic crisis may encourage it to strengthen ties with India

International Monetary Fund (IMF) data shows the economy's net international reserves have been negative since December last year

US advises its citizens against travelling to Sri Lanka amid crisis

Amid the ongoing unrest in Sri Lanka owing to its economic crisis, the United States on Wednesday advised its citizens against travelling to the island nation, pointing to the shortage

India supplies two fuel consignments to crisis-hit Sri Lanka

The country of 20 million people is suffering its worst economic crisis in decades, short supply of fuel resulting in hours-long power cuts every day

Sri Lanka president Rajapaksa will not resign despite protests: Minister

Sri Lanka's President Gotabaya Rajapaksa will not resign, a minister said on Wednesday, despite protests against his handling of the country's worst economic crisis

Prez Gotabaya Rajapaksa will not resign under any circumstances: Lanka govt

The SL Govt said the president will not resign under any circumstances and will face current issues, as it defended embattled leader's decision to enforce a state of emergency, which he later revoked

Sri Lankan doctors to stage protests after hospitals run out of drugs

People have been suffering from shortages of fuel, power, food and other items for weeks, and doctors say the entire health system could now collapse