Page 49 - Sri Lanka

IMF chief hopes to complete Sri Lanka aid talks 'as quickly as possible'

The IMF hopes to complete the negotiations with Sri Lanka on a bailout package "as quickly as possible" and the "moment there is a government" in the country, its Managing Director Kristalina Georgieva said on Wednesday, hours after the crisis-hit island nation elected a new president. Sri Lanka has been gripped by severe shortages of fuel, food and other essentials after its foreign reserves dried up. Citizens have turned their anger on the government and forced once-powerful President Gotabaya Rajapaksa to resign last week. On Wednesday, the Sri Lankan Parliament elected Acting President Ranil Wickremesinghe as his replacement. "IMF hopes to complete negotiations with Sri Lanka "as quickly as possible, & the moment there is a govt we can continue our discussions & our team will be there," Georgieva said, Hiru News reported. Wickremesinghe in his previous capacity as prime minister and finance minister has been involved in the negotiations with the Washington-based ...

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Voting to elect Sri Lanka's new president in three-cornered contest begins

Sri Lankan Parliament began voting to elect the successor to Gotabaya Rajapaksa in a three-way presidential contest, following a high-voltage political drama

There's fear of Sri Lanka crisis spillover, says EAM S Jaishankar

To help island nation engage with IMF, other debtors, says Jaishankar after all-party meet

Major crisis in SL, naturally worry about spillover: EAM at all-party meet

"It is a matter which pertains to a very close neighbour and given the near proximity, we naturally worry about the consequences, the spillover it has for us," he added.

A first in 44 years: Lankan Parliament to directly elect President

Wickremesinghe, Alahapperuma and leftist Janatha Vimukthi Peramuna (JVP) leader Anura Kumara Dissanayake were proposed by lawmakers on Tuesday as the three candidates

Rupee at 80: How have other currencies performed in the last six months

The Sri Lankan rupee has fallen over 66 per cent against the rupee in the last six months. It was trading at 2.7 per INR on January 19 and has fallen to 4.5 on July 19

India to invest more in Sri Lanka after crisis support of $3.8 bn: Report

India is willing to make more investments in neighbouring Sri Lanka after supporting it with $3.8 billion this year, New Delhi's envoy in Colombo told the Indian Express newspaper

Security beefed up around Sri Lankan Parliament ahead of Prez election

The security has been beefed up in and around Sri Lanka's Parliament complex on Tuesday after the Speaker lodged a complaint with the Inspector General of Police calling for a detailed investigation

Centre to hold all-party meeting over Sri Lanka's economic crisis today

The Centre has convened an all-party meeting on Tuesday to discuss the ongoing crisis in Sri Lanka

Lanka-IMF talks almost complete, says acting President Ranil Wickremesinghe

'The negotiations with the IMF were nearing conclusion, and discussions for assistance with foreign countries were also progressing

Wickremesinghe suggests 'all-party govt' to recover from economic crisis

Acting President Ranil Wickremesinghe urged the political parties to put aside their differences and form an all-party government which would allow Sri Lanka to recover from the economic crisis

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Ranil Wickremesinghe declares emergency in Sri Lanka ahead of election

Sri Lanka's acting president Ranil Wickremesinghe on Monday declared a state of emergency in the country with immediate effect, ahead of the July 20 election

Muted protests on Gotabaya Rajapaksa's entry into Singapore amid SL crisis

Muted protests were organized by a handful of Singaporeans as ousted Sri Lankan president Gotabaya Rajapaksa arrived here last Thursday, leaving behind a economically-shattered country

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

Biz continuity plan in place for Sri Lanka operations, says HCL Tech CEO

HCL Technologies on Wednesday said it has a business continuity plan for operations in Sri Lanka, with adequate flexibility for workloads to be taken over by teams in India and other geographies.

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

The revenge of orthodoxy

Across the world, emerging economies that tried to defy orthodox policy making are in danger

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