The World Bank has agreed to provide Sri Lanka with $600 million in financial aid to help cover the cost of essential imports as the country’s economic crisis deepened, the Sri Lankan President’s Media Division said Tuesday. The first tranche of $400 million would be released “shortly,” it stated, adding that the World Bank had…
World Bank to Provide $600 Million to Assist Crash-Strapped Sri Lanka
US Envoy to Sri Lanka Calls for Full Probe Into Fatal Police Shooting
The U.S. ambassador to Sri Lanka on Tuesday called for a “full and transparent investigation” into the police shooting of unarmed protesters in the central town of Rambukkana, which killed at least one person. One person was killed and 24 others, including eight police officers, were injured after clashes broke out between protesters and police…
Debt-Ridden Sri Lanka Halts Share Trading for 5 Days Amid Mounting Crisis
Sri Lanka’s Colombo Stock Exchange (CSE) was ordered to close the stock market for five days from April 18 after the government announced its decision to suspend repayment of billions of dollars in foreign debt. The Sri Lanken Securities and Exchange Commission (SEC) said in a statement on April 16 that CSE’s board of directors…
Sri Lanka Halts Debt Repayment Pending IMF Bailout Plan
April 13, 2022
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COLOMBO, Sri Lanka—Sri Lanka is suspending its repayment of foreign debt, including bonds and government-to-government borrowing, pending the completion of a loan restructuring program with the International Monetary Fund to deal with the island nation’s worst economic crisis in decades, the government announced Tuesday. Sri Lankans in recent months have endured fuel and food shortages…
Sri Lankan Doctors Warn Death Toll Potentially ‘Worse’ Than COVID Amid Drugs Shortage
April 11, 2022
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Sri Lanka’s death toll may be worse than that of the COVID-19 pandemic due to the severe drug shortages gripping the country, which is experiencing its worst economic crisis in decades, local doctors warned on April 10. The Sri Lanka Medical Association (SLMA) claimed that doctors now have to choose which patients to treat as…
Sri Lanka’s President Lifts State of Emergency Amid Ongoing Protests
Sri Lankan President Gotabaya Rajapaksa has revoked a state of emergency, just days after enforcing it to quell protests over the country’s political and economic turmoil. Rajapaksa stated in a gazette carried by Sri Lankan media agency News First that he revoked the emergency rule ordinance that took effect on April 1, which was imposed…
IMF Meeting Sri Lankan Authorities as Country Attempts to Resolve Economic Crisis
April 5, 2022
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The International Monetary Fund (IMF) will soon be discussing Sri Lanka’s economic issues with the country’s respective ministers and is closely monitoring the island nation’s economic and political situation, the organization stated. “IMF staff is looking forward to program discussions with the authorities, including during the visit of the newly appointed Finance Minister to Washington…
Sri Lanka’s Stock Market Shuts After 5.9 Percent Decline Triggered by Cabinet Resignations
Sri Lanka’s Cabinet ministers resigned en masse as protests over the government’s handling of the country’s worst economic crisis in decades escalated, the education minister said on Sunday. The country’s stock exchange fell 5.9 percent as a result of the Cabinet’s resignation, prompting authorities to halt trade on Monday, AFP reported. Education minister Dinesh Gunawardena…
Sri Lanka Blocks Social Media Amid Economic Crisis and Mass Civil Unrest
The government of Sri Lanka briefly blocked social media as protests erupted across the nation due to shortages of fuel and food. All major social media websites were blocked by the government on early morning Sunday following a nationwide curfew announced on Saturday and a state of emergency declared Friday. Affected websites included Facebook, Twitter,…
Sri Lanka Blocks Social Media Amid Economic Crisis, Mass Civil Unrest
The government of Sri Lanka briefly blocked social media as protests erupted across the nation due to shortages of fuel and food. All major social media websites were blocked by the government early on April 3 following a nationwide curfew announced on April 2 and a state of emergency declared on April 1. Affected websites…
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