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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 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]
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 .
Protests resumed in Sri Lanka's capital Colombo Wednesday shortly after lawmakers elected the country's widely unpopular prime minister and acting president, Ranil Wickremesinghe, as the new ...
They agree on one thing: Sri Lanka needs a new political system that can take it out of economic and political turbulence. Days after Rajapaksa fled the country, Sri Lanka’s parliament replaced him with then-prime minister Ranil Wickremensignhe in a vote that many protesters saw as a victory for the status quo.
Sri Lankan President Gotabaya Rajapaksa is set to resign, with outrage over the an economic crisis boiling over and protesters at their doorstep — literally. Breaking Point: A visual guide to ...
Sri Lanka, which has $51 billion of external credit, has asked some creditors to restructure its debt and also approached China, Japan, and the Asian Development Bank among others for help.
Sri Lanka has seen external instability from around late 2014 suffering two currency crises and low growth with the rupee falling from 131 to 182 to the US dollar by 2018. [6] Foreign debt rose from 30% of gross domestic product in 2014 to 41.3% in 2019 while total debt went up from 76% to 86% as growth slowed amid [ 7 ] Sovereign bond ...