Tag: Sri Lanka

Sri Lanka hopes to reach initial agreement with IMF for help

- Associated Press -

Sri Lanka's central bank chief said Thursday he hopes the government can reach a preliminary agreement that could lead to a bailout package with the International Monetary Fund when its officials visit the crisis-hit island nation later this month.  The Indian Ocean country is effectively bankrupt and its economic crisis set

Sri Lanka leader proposes 25-year plan for crisis-hit nation

- Associated Press -

Sri Lanka's new president said Wednesday that his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster. President Ranil Wickremesinghe in his

World Bank refuses new funding for bankrupt Sri Lanka

- Agence France-Presse -

The World Bank said Friday it would not offer new funding to Sri Lanka unless the bankrupt island nation carried out "deep structural reforms" to stabilise its crashing economy. Sri Lanka has suffered an unprecedented downturn with its 22 million people enduring months of food and fuel shortages, rolling blackouts and

Rajapaksa ally named PM in Sri Lanka

- Associated Press -

An ally of the Rajapaksa political family was appointed Friday as Sri Lanka's prime minister, hours after security forces cleared the main protest site occupied for months by demonstrators angry at the Rajapaksas over the country's economic collapse. New President Ranil Wickremesinghe, who was elected by lawmakers and sworn into office

Sri Lankan forces make arrests, clear main protest site

- Times Report -

Sri Lankan security forces arrested several people by early Friday and cleared the main camp protesters have occupied for more than three months while demanding the nation's leaders resign over an unprecedented economic collapse. Army and police personnel arrived in trucks and buses around midnight, removing tents and protest banners at

Wickremesinghe elected president of crisis-hit Sri Lanka

- Associated Press -

Sri Lankan lawmakers chose six-time Prime Minister Ranil Wickremesinghe as president Wednesday to succeed the ousted leader who fled the country in a vote that risks reigniting political turmoil in the troubled South Asian island nation. Former President Gotabaya Rajapaksa appointed Wickremesinghe as prime minister in May, hoping to bring stability

State of emergency declared in Sri Lanka

- Times Report -

Sri Lanka's Prime Minister Ranil Wickremesinghe declared a state of emergency in the South Asian country, the Prime Minister's Office said on Wednesday. The police have imposed a curfew in the Western Province, including the capital Colombo, the Office said after President Gotabaya Rajapaksa has left the South Asian country amid

No fuel and no cash, fuel keeps schools closed

- Times Report -

Cash-strapped Sri Lanka on Sunday extended school closures for one week because there isn't enough fuel for teachers and parents to get children to classrooms, and the energy minister appealed to the country's expatriates to send money home through banks to finance new oil purchases. A huge foreign debt has left