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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.
The Sri Lankan economic crisis [8] is an ongoing crisis 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]
This was Sri Lanka's first election since the economy buckled in 2022 under a severe foreign exchange shortage, leaving the country unable to pay for imports of essentials including fuel, medicine ...
Sri Lanka has been struggling with an economic crisis since declaring bankruptcy in April 2022 with more than $83 billion in debt, more than half of it to foreign creditors.
Sri Lanka's year-on-year economic expansion in the third quarter of 2023 was 1.6% and in the fourth quarter 4.5%, the IMF said. ... Sri Lanka plunged into its worst economic crisis in early 2022 ...
The court order was issued on the basis of a case filed by political activist Keerthi Tennakoon against Cabraal regarding misappropriation and misuse of public funds which led to the massive economic crisis in Sri Lanka. [412] Basil Rajapaksa tested positive for COVID-19 on 16 April 2022 and was hospitalised for treatment.
Sri Lanka has been grappling with an unprecedented economic crisis since 2022, after suspending repayment of foreign loans because of a severe foreign currency crisis triggered by the COVID-19 ...
Sri Lanka declared the country was suspending payment on most foreign debt from April 12, 2022, kindling the Indian Ocean island's first sovereign default event and ending an unblemished record of repaying external debt despite experiencing milder currency crises in the past.