Tag
Sri Lanka economic crisis

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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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