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The Sri Lankan economic crisis [8] is a in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Also, despite the projection of growth starting in the July quarter, Sri Lanka's export-driven economy is expected to contract by 2% in the full year, after shrinking 7.8% in 2022. Exports fell 11 ...
China accounted for about 10% of Sri Lanka’s $35bn foreign debt to April 2021, government data shows. Officials said China’s total lending could be much higher when taking into account loans to state-owned enterprises and the central bank. Sri Lanka has borrowed heavily from China for infrastructure, some of which ended up as white elephants.
In the recent past, the Sri Lankan Government has identified some key focal areas to address the external imbalances of the economy, especially with regard to reducing its high trade deficit (≈15% of GDP for 2012) in order to make the economy comply with the Marshall–Lerner condition. Sri Lanka's oil import bill accounts for an estimated 27 ...
The 2022 Sri Lankan political crisis was a political crisis in Sri Lanka due to the power struggle between President Gotabaya Rajapaksa and the people of Sri Lanka. It was fueled by the anti-government protests and demonstrations by the public due to the economic crisis in the country .
Sri Lanka closed schools on Monday as heavy rain triggered floods and mudslides in many parts of the island nation, leaving at least 10 people dead and six others missing, officials said. The ...
NewsFirst or News 1st is a Sri Lankan news organization owned by the Capital Maharaja Organization Ltd. [1] News 1st primarily broadcasts news, live on three TV channels (Sirasa TV, Shakthi TV, TV 1, five radio channels (Sirasa FM, Yes FM, Shakthi FM, Y FM and Legends FM), three websites in Sinhala, English & Tamil languages, and social media platforms (YouTube, Facebook, Twitter).
The Sri Lanka Electricity Act, No. 36 of 2024 is a landmark legislative act enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka. Certified on 27th June 2024, the Act introduces substantial reforms to the electricity industry in Sri Lanka, aiming to improve efficiency, attract investment, and promote the use of renewable energy sources.