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The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Sri Lanka’s President Ranil Wickremesinghe announced a debt restructuring deal with countries including India, France, Japan and China in a televised address to the nation Wednesday. The ...
The 2022 Sri Lankan protests, commonly known as Aragalaya ( Sinhala: අරගලය, lit. 'The Struggle'), were a series of mass protests that began in March 2022 against the government of Sri Lanka. The government was heavily criticized for mismanaging the Sri Lankan economy, which led to a subsequent economic crisis involving severe ...
The 2022 Sri Lankan political crisis was a political crisis in Sri Lanka due to the power struggle between President Gotabaya Rajapaksa and the people of Sri Lanka. It was fueled by the anti-government protests and demonstrations by the public due to the economic crisis in the country. The anti-government sentiment across various parts of Sri ...
The International Monetary Fund executive board approved the release of the second tranche of a $2.9 billion dollar bailout package to help Sri Lanka recover from the worst economic crisis in its ...
(Reuters) - Global investors and Sri Lankan officials expect to start negotiations aimed at restructuring $12 billion in defaulted global bonds next week, Bloomberg News reported on Thursday.
Port City Colombo is located in the metropolis of Colombo, Sri Lanka, which is positioned within South Asian trade routes. The master planned city is to be constructed between the southern edge of the new Colombo South Port and the Fort lighthouse. The total area of sea to be reclaimed is 269 ha (660 acres). [1] [2]
Sri Lanka's cabinet has approved increasing the minimum wage by 40%, a top official said on Tuesday, to support workers struggling with living costs as the economy slowly shakes off its worst ...