Sri Lanka’s crisis rings alarm for other troubled economies

Breadcrumb Trail Links PMN Business Author of the article: The Associated Press Elaine Kurtenbach Article content BANGKOK (AP) — Sri Lanka is desperate for help with weathering its worst crisis in recent memory. Its schools are closed for lack of fuel to get kids and teachers to classrooms. Its effort to arrange a bailout from … Read more

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 made recommendation for Adani Green: Sri Lankan power board

The Ceylon Electricity Board, in a clarification to a Sri Lankan business daily, has said that the Indian government recommended Adani Green Energy Limited (AGEL) for constructing wind power projects in the Mannar and Pooneryn regions of the country, according to a media report. Under the MoU signed with CEB, AGEL … 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

Foreign secy meets Sri Lankan President, PM to discuss economic crisis

A four-member Indian delegation led by Foreign Secretary Vinay Kwatra met Sri Lankan President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe on Thursday to assess the bilateral assistance provided by New Delhi in the wake of the island nation’s ongoing economic crisis. According to Sri Lanka’s Ministry of Foreign … Read more

FM Sitharaman assures ‘fullest support’ for Sri Lanka’s economic recovery

Finance Minister Nirmala Sitharaman has assured Sri Lanka of her “fullest support” and cooperation for its recovery from the ongoing economic crisis. Sitharaman conveyed the assurance to Sri Lankan High Commissioner Milinda Moragoda when the envoy met her on Monday. The Finance Minister of India assured the high … 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