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Sri Lanka issued its first international sovereign bond in 2007, with high interest rates to incentivise investors. According to commentators, the money was used to fund vanity projects rather than projects of national utility. [40] Sri Lanka's foreign debt increased substantially, going from US$11.3 billion in 2005 to $56.3 billion in 2020. [41]
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 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 ...
(Reuters) -Sri Lanka's newly elected President Anura Kumara Dissanayake has dissolved parliament to clear the way for a snap general election in the debt-ridden country, he said in a government ...
Sri Lanka closed schools on Monday as heavy rain triggered floods and mudslides in many parts of the island nation, leaving at least 10 people dead and six others missing, officials said. The ...
15 June – Rumesh Tharanga wins the Gold medal in the Javelin Throw event at the Asian Throwing Championships with a new Sri Lanka record of 85.45m. [77] 21 June – The Sri Lanka women's cricket team wins the ODI series against West Indies 3-0, for the first time in 16 years. [78]
Sri Lanka will hold a presidential election on Sept. 21 that will likely be a test of confidence in President Ranil Wickremesinghe’s efforts to resolve the country’s worst economic crisis.
The current year places a heavy burden on Sri Lanka, with debt repayments amounting to approximately $4.5 billion, commencing with an initial payment of $500 million towards an international sovereign bond. Sri Lanka holds a position of significant importance in China's ambitious Belt and Road Initiative. [3]