Sri Lankan PM says he will slash expenditure in new budget

Sri Lankan PM says he will slash expenditure in new budget

Sri Lanka’s new Prime Minister Ranil Wickremesinghe stated on Could 25 that he’ll current an interim finances inside six weeks, slashing infrastructure initiatives to re-route funds right into a two-year reduction programme for the crisis-hit island nation. Mr. Wickremesinghe, who took workplace two weeks in the past, warned that inflation would rise as the federal … Read more

SL Prez inducts 8 more ministers to handle economic crisis: Key points | World News

SL Prez inducts 8 more ministers to handle economic crisis: Key points | World News

Sri Lanka’s embattled President Gotabaya Rajapaksa on Monday inducted eight extra ministers in his Cupboard to deal with the nation’s monetary disaster, its worst since gaining independence from Britain’s rule in 1948. The day additionally noticed a prime official tender his resignation over the Could 9 violence in Colombo , which led to the resignation … Read more

Explained: 10 things about Sri Lanka’s worst economic crisis

Explained: 10 things about Sri Lanka’s worst economic crisis

NEW DELHI: Sri Lanka’s financial disaster, unparalleled since its independence in 1948, has come from the confluence of the Covid-19 pandemic battering the tourism-reliant economic system, rising oil costs and populist tax cuts by the federal government of President Gotabaya Rajapaksa and his brother , Mahinda, who resigned as prime minister final week. Apart from, … Read more

Sri Lankan police arrest ruling party MPs over mob violence

Sri Lankan police arrest ruling party MPs over mob violence

Sanath Nishantha and Milan Jayathilake have been amongst 22 politicians whose passports have been impounded following allegations that they instigated the violence Sanath Nishantha and Milan Jayathilake have been amongst 22 politicians whose passports have been impounded following allegations that they instigated the violence Sri Lankan police arrested two ruling occasion lawmakers for allegedly instigating … Read more

Sri Lanka runs out of petrol: PM tells cash-strapped nation

Sri Lanka runs out of petrol: PM tells cash-strapped nation

Sri Lanka is right down to its final day of petrol, the brand new prime minister mentioned on Monday, because the crisis-hit nation is unable to seek out {dollars} to finance important imports. Ranil Wickremesinghe’s warning got here because the nation’s energy minister instructed residents to not be a part of the prolonged gasoline queues … Read more

Sri Lanka Opposition says it will offer conditional support to new PM

Sri Lanka Opposition says it will offer conditional support to new PM

Sri Lanka’s essential Opposition occasion Samagi Jana Balawegaya (SJB) on Monday stated it could provide conditional assist to the interim all-party authorities headed by Prime Minister Ranil Wickremesinghe to assist deal with the nation’s crippling financial and political disaster. Wickremesinghe, the United Nationwide Social gathering (UNP) chief was appointed as Sri Lanka’s twenty sixth prime … Read more

Colombo at a crossroads: India’s balanced response to Sri Lanka crisis

Colombo at a crossroads: India’s balanced response to Sri Lanka crisis

By Harsh V Pant Lastly, the President of Sri Lanka, Gotabaya Rajapaksa, spoke, and he spoke underneath duress. After months of refusing to take decisive measures to stem the tide of impending financial and political collapse, the folks of Sri Lanka pressured him to come back out of his Although he himself refused to stop, … Read more

Lanka PM meets ambassadors, discusses formation of int’l forum for aid

Lanka PM meets ambassadors, discusses formation of int’l forum for aid

Prime Minister Ranil Wickremesinghe on Friday met with ambassadors of India, Japan, the US and China and mentioned the formation of a global discussion board for monetary help to the debt-ridden island nation engulfed within the worst financial disaster since its independence in 1948. Wickremesinghe, 73, was sworn-in as Sri Lanka’s twenty sixth prime minister … Read more

Lines of credit extended to Sri Lanka may go through rough patch: Exim Bank

Lines of credit extended to Sri Lanka may go through rough patch: Exim Bank

The traces of credit score prolonged to the Sri Lankan authorities by India Exim Financial institution might undergo a “tough patch” because the island nation faces the worst financial disaster, a senior financial institution official stated on Thursday. Export Import Financial institution of India (Exim Financial institution), nonetheless, stated there isn’t any overdue cost from … Read more

Sri Lanka crisis: Opposition split over new PM’s face

Sri Lanka crisis: Opposition split over new PM’s face

Sri Lanka’s most important Opposition SJB has cut up over the selection of the following prime minister as its chief Sajith Premadasa is unwilling to be the prime minister within the interim authorities beneath embattled President Gotabaya Rajapaksa. In a late-night televised handle to the nation, the President on Wednesday refused to stop however promised … Read more