Sri Lankan Economic Crisis

Without declaring/facing default, in the open market trading, Pakistani currency has fallen close to the level that Sri Lanka experienced after default.

The Wall Street Journal reports that Ranil Wickremesinghe, the new president of Sri Lanka, indicated on Sunday that the return to the nation of former president Gotabaya Rajapaksa would inflame …

In an effort to prevent unrest before a vote in parliament this week to select a new president, Sri Lanka’s interim President Ranil Wickremesinghe issued directives for a state of …

Hours before his expected resignation amid huge demonstrations over his mishandling of the economic since independence in 1948, President Gotabaya Rajapaksa has departed the country. The Sri Lankan Air Force …

Faced with socio-economic and political turmoil, Sir Lanka is currently struggling to maintain credible fuel reserves. Today, the energy minister highlighted the precarious situation of the detrimental low fuel reserves …

A two-week closure of non-essential public institutions has been prolonged until further notice to conserve fuel, with a skeleton workforce in place to perform the minimum services required.

Demonstrators have accused Perera, 54, of being a longtime supporter of the Rajapaksa dynasty, which has been accused of mismanaging the country into its current condition by protesters.

This will be Sri Lanka’s 17th rescue package, according to the IMF, whose staff is currently in Colombo and will stay until June 30.

Sri Lanka presently has no dollars to pay for fuel supplies, according to Power and Energy Minister Kanchana Wijesekera, who has asked citizens to refrain from queuing for the next …

In the face of hundreds of security officers imposing a curfew, the defence ministry stated that troops had been allowed “to kill on sight anyone plundering public property or inflicting …