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According to the Asian Development Bank, the population of Sri Lanka was 19.71 million in 2015. In 2014, 6.7% of the country lived below the national poverty line. During the same year, it was also reported that 50.5% of the population aged 15 years and above were employed. [6]
The second table lists countries by the percentage of the population living below the national poverty line—the poverty line deemed appropriate for a country by its authorities. National estimates are based on population-weighted subgroup estimates from household surveys. [9] Definitions of the poverty line vary considerably among nations.
Sri Lanka and its bondholders had inked a preliminary deal to restructure $12.5 billion in debt on Thursday, after months of delay and objections from the IMF and official lenders to a previous deal.
The economic situation in debt-stricken Sri Lanka has started to gradually improve following its worst economic crisis two years ago, the International Monetary Fund said Thursday. Sri Lanka's ...
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]
"This debt restructuring plan is essential for Sri Lanka to meet the target set by the IMF agreement to reduce debt from the current 128% of GDP to 95% of GDP by 2023," State Minister of Finance ...
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]
Sri Lanka’s total debt has exceeded $83 billion, of which $41.5 billion is foreign and $42.1 billion is domestic. Under the proposed domestic debt restructuring program, the bulk of the debt ...