Country
Sri Lanka
IMF’s Package to Sri Lanka Includes Corruption Fixing
By Rathindra Kuruwita
But is the governance diagnostic exercise just another tool to legitimize its austerity measures?
What’s in the IMF’s New Extended Fund Facility Arrangement for Sri Lanka?
By Michael Iveson
The IMF’s $2.9 billion EFF program lays out major structural reforms required to restore long-term macroeconomic stability in Sri Lanka.
IMF to Assess Sri Lankan Governance as Part of $3 Billion Bailout
By Krishan Francis
The country has the dubious distinction of being the first Asian country to face scrutiny for corruption as part of a bailout program.
Sri Lankan State Workers Strike, Protesting High Taxes
By Krishan Francis
The government says it was compelled to raise taxes to strengthen state revenue, a key prerequisite to unlocking the $2.9 billion IMF package.
Sri Lankan President’s Plan for Nuclear Power Could Run Into Opposition
By P.K. Balachandran
Notwithstanding the merits of nuclear power from a clean energy perspective, Ranil Wickremesinghe’s plan may face public opposition due to cost and safety issues.
In Sri Lanka, Opposition Parties Allege a Secret CIA Visit
By Uditha Devapriya
Sri Lanka hosted two high-level delegations from the U.S. in February – including one that opposition parties say was cover for a secret mission by the head of the CIA.
Sri Lanka Leader Says IMF Deal Imminent After China’s Pledge
By Krishan Francis
With Beijing extending debt restructuring assurances, the last obstacle in the way of Sri Lanka securing the bailout deal has been removed.
Why Is Trincomalee Port Still Undeveloped?
By P.K. Balachandran
Plans to develop the port in eastern Sri Lanka have repeatedly stalled out, due to a variety of internal and external factors.
The Real Cause of Sri Lanka’s Debt Trap
By Bram Nicholas and Shiran Illanperuma
Sri Lanka’s default highlights the dangers of relying on international sovereign bonds – with high interest rates – to fund development.
China Should Rethink Its Position on Debt
By Sarah Saadoun
China has lent over $1 trillion to more than 150 countries as part of its Belt and Road Initiative, making it the world’s largest official creditor.
This Week in Asia: February 24, 2023
The Diplomat’s weekly video round-up of Asia news.
Sri Lanka Government Develops Cold Feet, Calls Off Local Elections
By Rathindra Kuruwita
Fearing that it will be routed in elections, the ruling party unleashed a propaganda campaign to convince people that elections amid the economic crisis are a bad idea.