economic crisis
Sri Lanka's top court says ex-president among those who contributed to economic crisis
Sri Lanka’s top court ruled on Tuesday (Nov 14) that former President Gotabaya Rajapaksa and his brother, former Prime Minister Mahinda, were among several government officials whose conduct contribut...
IMF, Bangladesh agree on first review of US$4.7 billion bailout
BANGLADESH and the International Monetary Fund reached a staff-level agreement on the first review of a US$4.7 billion bailout on Thursday (Oct 19), in a boost for the cash-strapped economy as it head...
Sri Lanka, Exim Bank of China reach pact on debt disposal
THE Export-Import (Exim) Bank of China reached a preliminary agreement with Sri Lanka last month on the disposal of China-related debts, China’s Foreign Ministry announced on Tuesday (Oct 10), as the ...
Ukraine, IMF reach agreement for US$900 million loan disbursement
UKRAINE reached a preliminary agreement with the International Monetary Fund (IMF) on a fresh disbursement of aid as part of a broader loan programme to the war-battered nation.
India extends US$1 billion credit line for Sri Lanka by a year
INDIA has extended a US$1 billion credit line for Sri Lanka by one year, a Sri Lankan official told Reuters on Tuesday (May 9), giving the crisis-hit country a backup infusion of US dollars for essent...
Sri Lanka pushes debt restructuring presentation to mid-May
SRI Lanka pushed back the release of its debt restructuring plan to investors to the middle of May from this month.
Pakistan government and judiciary in new standoff amid economic turmoil
PAKISTAN’S parliament on Thursday (Apr 13) ruled against providing funds for provincial snap polls ordered by the Supreme Court, creating new discord between the judiciary and government amid months o...
Asian Development Bank mulling cheaper funds for Sri Lanka, support for green bonds
THE Asian Development Bank (ADB) is considering more concessionary funding for Sri Lanka and support for green bond issues as part of its assistance to help the South Asian nation recover from its wor...
Sri Lanka’s economy shrinks 7.8% in 2022
SRI Lanka’s economy shrank 7.8 per cent in 2022 from a year ago, government data showed on Wednesday (Mar 15), as the country struggled with the worst financial crisis in more than seven decades.
Sri Lanka to announce debt restructuring strategy in April: central bank chief
SRI Lanka aims to announce a debt-restructuring strategy in April and step up talks with commercial creditors ahead of an International Monetary Fund (IMF) review of a bailout package in six months, t...
