With time running out, an IMF group travels to Sri Lanka, in the midst of country crisis
An IMF delegation will arrive in Sri Lanka on Monday to discuss a rescue proposal, but time is running out for a country that is just days away from running out of fuel and months away from receiving any relief funds. Sri Lanka is in the midst of its biggest financial crisis since its 1948 […]
Amid the forex crisis, Sri Lanka seeks a $500 million loan from India for fuel purchases
Amid a severe foreign exchange crisis, the Sri Lankan Cabinet has accepted a 500 million dollar loan from the Exim Bank of India for the purchase of petroleum supplies. As the government grapples with a serious foreign exchange crisis, Sri Lanka has been considering several possibilities to facilitate efforts to prevent fuel pumps from running […]
Ranil Wickremesinghe, Sri Lanka’s new Prime Minister, has expressed interest in strengthening ties with India
Ranil Wickremesinghe, Sri Lanka’s new Prime Minister, has expressed his desire for better connections with India during his term and praised India for its economic help as the country grapples with its worst economic crisis since independence. On Thursday, Wickremesinghe, 73, was sworn in as Sri Lanka’s 26th prime minister, to restore stability to the […]