imf: International Monetary Fund says Sri Lanka is on track for an agreement with it

COLOMBO: The International Monetary Fund had constructive and productive discussions with the Sri Lankan authorities on economic policies and reforms to be supported by an IMF extended fund facility arrangement, it said in a release on Thursday. The statement boosts hopes that the crisis-hit country can put its public finances in order and reassure creditors. … Read more

India pushes for projects in Sri Lanka instead of more credit lines: Report

Instead of offering more credit lines, India is pushing for quicker implementation of its projects in Sri Lanka, a media report said on Sunday. This had been stressed by the four-member Indian delegation led by Foreign Secretary Vinay Kwatra during its discussion with President Gotabaya Rajapaksa, Prime Minister Ranil … Read more

sri lanka: Bankrupt Sri Lanka runs out of fuel

ri Lanka has virtually run out of petrol and diesel after several expected shipments were delayed indefinitely, the energy minister said Saturday while apologising to motorists for the worsening fuel crisis. Kanchana Wijesekera said oil cargoes that were due last week did not turn up while those scheduled to arrive next week will also not … Read more

Lanka electricity chief quits after withdrawing remark on Adani Group deal

A top Sri Lankan official, who claimed before a parliamentary panel that Prime Minister Narendra Modi allegedly influenced President Gotabaya Rajapaksa to award a wind power project to the Adani Group in this island nation, resigned on Monday, a day after retracting his earlier statement. The resignation of MMC … Read more

China praises India for helping Sri Lanka deal with economic crisis

China on Wednesday praised India for helping Sri Lanka amid the unprecedented economic crisis in the island nation that has led to a shortage of fuel and other essential items. Speaking at a press conference, Chinese Foreign Ministry Spokesperson Zhao Lijian said China ‘commends’ India for efforts to mitigate … Read more

India delivers 3.3 tons of essential medical supplies to Sri Lanka

In line with its “neighbourhood first” policy, India again came forward to help Sri Lanka during its economic crisis as High Commissioner to Colombo, Gopal Baglay on Friday handed a total of 3.3 tons of essential medical supplies to the 1990 Suwaseriya Ambulance Service. Baglay said that External Affairs … Read more

India sends 15,000 litres of kerosene for fisherfolk in Sri Lanka

India sent 15,000 litres of kerosene to Sri Lanka on Saturday to help 700 fisherfolk and power ferry services in the Tamil-dominated Jaffna city, days after it delivered around 40,000 metric tonnes of petrol to the debt-ridden island nation which is grappling with its worst economic crisis. India extended an … Read more