Sri Lanka identifies 7 key items to import from India
Crisis-ridden Sri Lanka has identified seven classes of products, aside from petroleum, to be imported from India this year under credit facilities, according to Indian media reports. The product classes…
Hike taxes to address debt woes, IMF urges crisis-hit Sri Lanka
Sri Lanka must tighten monetary policy and raise taxes to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday, even as Lanka’s President Gotabaya Rajapaksa and the cabinet…
HCL Tech says business as usual, no hiring slowdown in Sri Lanka
Amid the ongoing economic crisis in Sri Lanka, HCL Technologies said that it has not seen any business impact on its deliverables, or any slowdown in hiring in the region,…
Sri Lanka settle payments for Russian coal cargoes
(Reuters)- Crisis-hit Sri Lanka has paid for two Russian cargoes to SUEK AG’s Singapore unit through a telegraphic transfer, two senior government officials told Reuters, in a move that is…
Cash-strapped Sri Lanka hit by record inflation
(AFP) – Crisis-hit Sri Lanka’s inflation hit a record high for the sixth consecutive month, official data showed on Friday as the government asked the IMF for an urgent bailout. The…
Sri Lankan Economic Crisis Inflicted by Self-Serving Elite
By Anis Chowdhury and Jomo Kwame Sundaram Sri Lanka has just defaulted on its foreign debt for the very first time. Attributing its current predicament to a Chinese ‘debt-trap’ is a new Cold War…
India to provide crisis-hit Sri Lanka with an additional US$500 million for fuel
Sri Lanka’s continued fuel crisis has prompted India to extend another helping hand to the troubled island nation with an additional $500 million in financial aid. Sri Lanka’s foreign ministry…
Colombo Stock Brokers Association defends the decision to temporarily close down the Colombo Stock Exchange
Colombo Stock Brokers Association (CSBA) defends the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the Colombo Stock Exchange (CSE) for 5 business…
World Bank deeply concerned about the uncertain economic outlook in Sri Lanka and its impact on people
Sri Lanka’s economic outlook is highly uncertain due to fiscal and external imbalances. Urgent policy measures are needed to address the high levels of debt and debt service, reduce the…
Fitch Ratings Downgrades Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating to ‘C’
Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘C’ from ‘CC’ following the Government’s decision to suspend debt servicing of several categories of its external…