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Sri Lanka fulfilled nearly $2bn foreign debt servicing commitments after declaring foreign debt default

The government has settled over $ 1.9 billion in foreign debt and interest payments between President Ranil Wickremesinghe’s assumption of office and February 2024, according to Rajith Keerthi Tennakoon, President’s…

Sri Lankan Prime Ministers Beijing Visit an Invitation for Chinese Strategic Expansion 

By Asanga Abeyagoonasekera Six months before the presidential elections, Sri Lankan Prime Minister Dinesh Gunawardena visited China to meet Chinese Premier Li Qiang. During the meeting, Li Qiang said, “China…

Sri Lanka aims to conclude debt restructuring talks before November 

Crisis-stricken Sri Lanka should be able to conclude newly-launched debt restructuring talks by September, or November at the latest, its president said on Thursday, adding that the negotiations had made…

PrimeGlobal adds member firm in China and debuts in Sri Lanka

Global professional services association PrimeGlobal has in recent months welcomed two new member firms in Asia: Pengsheng in China, and Ranwatta & Co in Sri Lanka. Headquartered in Southern China…

Mattala Airport’s 2021 expenditure 21 times more than its income – Auditor General

Sri Lanka’s Auditor General reported that in 2021, the operational expenditure of the Mattala International Airport (MRIA) was Rs2.02 billion, 21 times more than its income for the same period.…

Chinese cruise ships to visit Sri Lanka after travel restrictions are relaxed

The Sri Lanka Embassy in Beijing, with a view to attracting more Chinese tourists to Sri Lanka, is also actively exploring the possibility of Chinese cruise ships and yachts visiting Sri Lanka. The…

it’s in China’s interest to restructure Sri Lanka’s debt – Yellen

China is a “very important” creditor of Sri Lanka and it would likely be in the interest of both countries if China participated in restructuring Sri Lanka’s debt, U.S. Treasury…

Sri Lanka begins talks with China on refinancing debt

 (Reuters) – Sri Lanka has begun discussions with China about refinancing its debt, a cabinet spokesman said on Tuesday, as Colombo struggles with its worst financial crisis in decades. China…

Crisis-hit Sri Lanka, India revive talks to link electric grids

(Reuters) – India and Sri Lanka have resumed talks on linking their electricity grids, officials told Reuters on Tuesday, a step that could aid New Delhi’s goal of reducing China’s…

Indian Companies Scramble To Set Up Renewable Energy Projects In Sri Lanka

Indian companies have bagged several renewable energy projects in economic-crisis hit Sri Lanka. The Indian government has offered a line of credit to Sri Lanka to help the island nation…