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Sri Lanka economic crisis

IMF to Assess Sri Lankan Governance as Part of $3 Billion Bailout
March 21, 2023

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.

In Sri Lanka, Opposition Parties Allege a Secret CIA Visit
March 09, 2023

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
March 07, 2023

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.

China Expresses Support for Sri Lanka Ahead of Debt Meeting
February 15, 2023

China Expresses Support for Sri Lanka Ahead of Debt Meeting

By Joe McDonald and Bharatha Mallawarachi
Beijing is resisting cuts to Sri Lanka's debts for fear other borrowers will want similar relief.

Sri Lankan Leader Appeals for Patience Amid Economic Crisis
February 08, 2023

Sri Lankan Leader Appeals for Patience Amid Economic Crisis

By Krishan Francis
Government doctors, university teachers, and other workers from ports and the power and petroleum sectors are calling on the government to lower income taxes.

Sri Lanka’s Steep Climb Out of the Economic Abyss
January 25, 2023

Sri Lanka’s Steep Climb Out of the Economic Abyss

By Luke Hunt
Colombo is still waiting on Beijing’s approval for debt restructuring.

In Defense of Sri Lanka’s Defense Budget
December 14, 2022

In Defense of Sri Lanka’s Defense Budget

By Rathindra Kuruwita
Reducing allocation for defense will require retrenching soldiers. Cutting loose angry youth with weapons skills is not what the crisis-ridden island needs now.
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.

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