Economic crisis in Sri Lanka and its impact on older adults
By Keshini Madara Marasinghe Sri Lanka is experiencing its worst economic downturn in history. Due to depleting foreign reserves, the country is facing shortages in fuel, food, cooking gas, medicines,…
Sri Lankan tea pickers’ dreams shattered by economic crisis
(Reuters) – On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her…
Sri Lankan shares jump as Expolanka, LOCL surge
Sri Lankan shares extended sharp gains for a second straight session on Thursday, as beaten-down heavyweight industrial and financial stocks surged. The CSE All-Share index closed 4.55% higher at 7,611.43.…
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…
Sri Lanka doubles interest rates to check inflation; stabilize the economy
(Reuters) – Sri Lanka’s central bank on Friday doubled its key interest rates, an unprecedented 700 basis points each, to cushion the rise in inflation caused by a crippling shortage…
As ‘economic catastrophe’ looms, private sector demands immediate action from policymakers
23 industry associations, representing private sector firms engaged in export, import andlogistics industries warned of catastrophic consequences for Sri Lanka’s economy and the people if the ongoing economic and political…
Sri Lanka’s National inflation accelerates at alarming levels in February
Sri Lanka’s National inflation measured by the national Consumer Price Index (NCPI) accelerated to its highest levels since 2015 17.5 percent on a Year-on-Year basis in February 2022, the Department…
Business earnings to take a hit from Sri Lana’s rising inflation levels
Business earnings to take a hit from rising inflation levels which are projected to accelerate at double digits for the rest of the year, First Capital Research stated. “While 2022…
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Russia-Ukraine Conflict: Economic Implications for Sri Lanka
By Asanka Wijesinghe The Russian invasion of Ukraine deepens the existing global economic woes – persistent supply chain bottlenecks and associated rising inflation – clouding the prospects of a smooth global economic recovery from…