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Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed Prime Minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying
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Sri Lanka has seen long queues across the country waiting for fuel amid severe dollars shortage.
Customers are sending questionaries to exporters on a daily basis inquiring about the country's situation.
The United Nations team in Sri Lanka and non-governmental organisations launched a joint Humanitarian Needs and Priorities (HNP) Plan today, calling for US$47.2 million to provide life-saving assistance to 1.7 million people worst-hit by the economic crisis over a four-month period, from June
Sri Lanka is compelled to depend on other countries to manage the impacts of economic crisis.
Wickremesinghe is on the spotlight for his performance after accepting Prime Minister post unconditionally.
Prime Minister Ranil Wickremesinghe has warned that the next three weeks will be tough for Sri Lanka. Speaking in Parliament today, the Prime Minister said that the public must use fuel and gas as carefully as possible. He also said that unessential travel should be limited as much as possible. “Therefore, I urge all citizens […]
Foreign expatriates have stopped sending money through banking channels as black market gives them more rupees.
SLC expects a considerable collection from ticket sales
Says guidance rate has reduced volatility
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Money printing creates forex and fuel shortages
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Sri Lanka's rice production has dropped by around 40 percent due to fertilizer ban.
Sri Lanka is facing food shortage due to President Rajapaksa's fertilizer ban and dollar shortage
Sri Lanka's rubber products can grow up to 30% in US dollar revenue if uninterrupted power supply ensured
Central bank has run out of reserves and is guidance rate
The Government is targeting US $5bn this year for repayments, plus a further US $1bn to bolster the country’s reserves, Prime Minister Ranil Wickremesinghe said today. The Prime Minister, during a meeting today with representatives from the Joint Chambers, elaborated that discussions with the IMF are proceeding and he was hopeful that negotiations would conclude […]
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"It's okay to criticise us, but we ask that you do not discourage farmers from growing," he said.
France has gifted Sri Lanka anesthetics and respiratory medications worth 300,000 Euros
Police has discovered hoarding of fuel worth 20.5 million rupees in the past few days.
They brought the proposal (in 2020) that Financial Advisors have to be appointed to make debt sustainable.
“What the international community is looking for is long-term policy credibility and sustainability."
Experts say, “The lack of cooperation by Beijing would complicate the debt recovery journey of Sri Lanka”. The magnitude of the economic crisis that Sri Lanka is facing has reached catastrophic proportions. The whole world is astounded by the rampant mismanagement beyond the comprehension
Motorists around the country have queued for fuel, but the government was unable to supply.
Cabraal has been prevented leaving the country from April 7
Forex shortage disrupt energy supplies to industries