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Atlantic Council GeoEconomics Director Josh Lipsky joins Yahoo Finance Live to discuss what led to recent protests and the economic collapse in Sri Lanka as well as what it means for other ...
A year after angry Sri Lankans stormed the president's residence and forced his ouster during a meltdown of the economy, the island's streets are calm, there are no serpentine queues at fuel ...
Sri Lanka's new president won the election decisively, but his toughest task still lies ahead as he seeks to balance promises to aid the nation's poor against the need to keep crucial supplies of ...
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 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 .
[2] [3] This was a major blow to the Sri Lankan economy and was also major setback to the newly elected government under the leadership of Maithripala Sirisena which commenced its first term as of 8 January 2015. Arjuna Mahendran was appointed as the Governor of the Central Bank of Sri Lanka replacing Ajith Nivard Cabraal.
Ending corruption at all levels was the key objective put in place by the Sri Lanka Freedom Party and United National Party joint government during their election campaigns in 2015. [21] Sirisena promised to take necessary action against the Rajapaksas regarding the corrupt practices while Mahinda Rajapaksa served as the President of Sri Lanka.
[10] In May 2022, Sri Lanka defaulted on its debt for the first time in the country's history. [12] Negotiations between the IMF and Sri Lanka regarding lending to resolve the balance of payments crisis are ongoing. As of July 18, 2022 acting president Ranil Wickremesignhe stated that negotiations were nearing conclusion. [13] Controversy