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High income inequality/disparity and increased poverty have contributed to the prevalent corruption culture in Sri Lanka. Corruption has always been a hot topic in Sri Lanka and has been a root cause of Sri Lanka's worsening economic situation since 2019. [9] Corruption was among many issues which provoked the 2022 nationwide protests. These ...
In 2022, as protests began growing in Sri Lanka, Jaliya Wickramasuriya, former Sri Lankan ambassador to the United States and Mexico, and a cousin of the Rajapaksa brothers, pleaded guilty in U.S. District Court for defrauding $332,027 from the Sri Lankan government during the purchase of a new embassy building in 2013.
The 2022 Sri Lankan political crisis was a political crisis in Sri Lanka due to the power struggle between President Gotabaya Rajapaksa and the people of Sri Lanka. It was fueled by the anti-government protests and demonstrations by the public due to the economic crisis in the country. The anti-government sentiment across various parts of Sri ...
The International Monetary Fund executive board approved the release of the second tranche of a $2.9 billion dollar bailout package to help Sri Lanka recover from the worst economic crisis in its ...
The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
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2022 Sri Lankan protests: Another curfew is imposed at 7.00 p.m. until 7.00 a.m next morning, but would later be extended by three days. [90] [91] 10 May 2022 Sri Lankan protests: Amidst the violent clashes, the vehicle in which MP Kumara Welgama was travelling in is attacked by a group of individuals in the area of Makumbura. Welgama was given ...
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]