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Sri Lanka's president said Wednesday that he is seeking a loan repayment moratorium until 2028 as the debt-ridden county tries to emerge from bankruptcy. President Ranil Wickremesinghe told ...
The government's ban was lifted later that day. The Human Rights Commission of Sri Lanka condemned the government's actions and summoned officials responsible for the blocking and abuse of protesters. [33] [34] On 3 April, all 26 members of the Second Gotabaya Rajapaksa cabinet resigned with the exception of Prime Minister Mahinda Rajapaksa.
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 Asian Development Bank said Friday that it has approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country’s finance sector following an unprecedented ...
The Sri Lankan economic crisis [8] is a 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]
The International Monetary Fund (IMF) said on Tuesday it had delayed discussions on Sri Lanka's next loan tranche due to the country's political crisis. The IMF has disbursed over $1 billion out ...
Sri Lanka has also sought an additional $500 million line of credit from India, and began negotiating a credit line of $1.5 billion. Sri Lankan minister of finance Ali Sabry has stated "We are a neutral country. We are a friend to all." [10] In May 2022, Sri Lanka defaulted on its debt for the first time in the country's history. [12]
COLOMBO (Reuters) -Sri Lanka is asking international bond holders to take a 30% haircut and is seeking similar concessions from investors in its domestic dollar-denominated notes as it seeks to ...