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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]
Colombo Consumer price inflation 2020 : 4.2% April 2021 : 3.9%. Inflation in Sri Lanka measured by the Colombo Consumer Price Index grew 6.0% in the 12-months to August 2021 picking up from 5.7 percent in July. [135] Inflation was 4.2% in the year to December 2020. In 2019 inflation was 4.8 percent. [136]
The Sri Lanka People's Freedom Alliance (SLPFA), led by Mahinda Rajapaksa, won a large majority in the 2020 Sri Lankan parliamentary election on 5 August 2020. [7] During their tenure, the government under President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa faced multiple crises, including the COVID-19 pandemic, the economic crisis, widespread protests, and the 2022 Sri Lankan ...
Sri Lanka. v. t. e. Sri Lanka joined the International Monetary Fund on August 29, 1950. [1] Since June 1965, Sri Lanka has taken 16 loans from the IMF, with a total value of 3,586,000,000 SDR's. The most recent of these loans was agreed to in June 2016, with an agreed total of 1,070,780 SDR's, and 715,230,000 SDR's being withdrawn.
On January 4, 2021, total market capitalisation crossed three trillion rupees mark for the first time. [2] Hayleys announced a stock split on January 21 of 2021 and it resulted in increasing market capitalization by over 100 billion rupees. All share price index surpassed 8000 points for the first as a result. [3]
The Central Bank of Sri Lanka raised interest rates in August 2021, and Sri Lanka became the first nation in Asia to tighten the monetary policy during the pandemic era. [20] [21] On 27 August 2021, the government extended the lockdown to 6 September 2021 as the daily death toll surpassed 200 for the first time since the pandemic began. [22] [23]
The 2024 Sri Lankan presidential election was the ninth presidential election in the country’s history and was held on 21 September 2024. [3][4] Incumbent President Ranil Wickremesinghe ran for re-election as an independent candidate, making him the first sitting president to run for re-election since Mahinda Rajapaksa in 2015. [5][6][7 ...
The Sri Lankan Rupee (Sinhala: රුපියල්, Tamil: ரூபாய்; symbol: රු (plural) in English, රු in Sinhala, ௹ in Tamil; ISO code: LKR) is the currency of Sri Lanka. It is subdivided into 100 cents (Sinhala: සත, Tamil: சதம்), but cents are rarely seen in circulation due to its low value. It is issued by ...