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Sri Lanka economic crisis

Sri Lanka Aims to Hike Taxes in Budget to Soften Crisis
November 14, 2022

Sri Lanka Aims to Hike Taxes in Budget to Soften Crisis

By Bharatha Mallawarachi
The Wickremesinghe government plans to more than double tax revenue to be able to meet expenditure without having to print currency.

Sri Lanka Begins Crucial Debt Restructuring Talks with China
October 07, 2022

Sri Lanka Begins Crucial Debt Restructuring Talks with China

By Krishan Francis
Sri Lanka is nearly bankrupt and has suspended repaying its $51 billion foreign debt, of which it must repay $28 billion by 2027.
Sri Lanka’s IMF Saga
October 04, 2022

Sri Lanka’s IMF Saga

By Soumya Bhowmick
Once again, the country is forced to seek a bailout from the IMF – with all the costs and benefits that entails.

Sri Lanka’s Worrying Exodus
September 28, 2022

Sri Lanka’s Worrying Exodus

By Mahesh Gunasekara
The country has always has a sizable diaspora of migrant workers. But now many people are leaving not just to better themselves but out of sheer necessity.

Asian Development Bank Cuts Forecasts to Reflect Weakening Outlook
September 22, 2022

Asian Development Bank Cuts Forecasts to Reflect Weakening Outlook

By Elaine Kurtenbach
The ADB cut its estimate for growth in Asia’s developing economies to 4.3 percent, down from an earlier forecast of 5.2 percent. But the slowdown is not evenly distributed.

IMF Set to Provide $2.9 Billion to Help Crisis-hit Sri Lanka
September 01, 2022

IMF Set to Provide $2.9 Billion to Help Crisis-hit Sri Lanka

By Bharatha Mallawarachi
The package is contingent on assurances from creditors, including China, India and Japan that debt sustainability will be restored.

India and China Engage in War of Words Over Sri Lanka
September 01, 2022

India and China Engage in War of Words Over Sri Lanka

By Sudha Ramachandran
The Yuan Wang 5’s docking at Hambantota Port continues to create ripples long after the ship left the island.
Sri Lanka’s Story of Sovereign Default
September 01, 2022

Sri Lanka’s Story of Sovereign Default

By Umesh Moramudali
How did Sri Lanka’s economic crisis get so bad – and how can the country move forward from here?

Sri Lanka’s President Says IMF Talks Nearing Successful End
August 30, 2022

Sri Lanka’s President Says IMF Talks Nearing Successful End

By Krishan Francis and Bharatha Mallawarachi
President Ranil Wickremesinghe said his government will soon start negotiating debt restructuring with countries that provide loans to Sri Lanka.

How Sri Lanka Can Overcome Its Economic Crisis
August 26, 2022

How Sri Lanka Can Overcome Its Economic Crisis

By Talal Rafi and Sirimal Abeyratne
The government should take advantage of the crisis to do things that it could never attempt before, from addressing regressive subsidies to restructuring state-owned enterprises.

Is China to Blame for Sri Lanka’s Debt Woes?
August 10, 2022

Is China to Blame for Sri Lanka’s Debt Woes?

By Ivory Kairo
China's role in lending to Sri Lanka has expanded in the last 20 years, but fewer Chinese loans would not have saved the country from its current economic crisis.
Sri Lanka Leader Proposes 25-year Plan for Crisis-hit Nation
August 03, 2022

Sri Lanka Leader Proposes 25-year Plan for Crisis-hit Nation

By Krishan Francis
Wickremesinghe said the government's aim is to create a surplus in the primary budget by the year 2025 and to bring down public debt.

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