The government has taken steps to address shortages of fuel and gas to some extent when compared to the earlier situation which had long queues that stretched for kilometres outside fuel and gas stations. But a well-planned recovery plan still cannot be seen that can address the long-term food security issues.
India’s assistance to Sri Lanka has made a “sea of difference” to the Sri Lankan economic situation, helping the country to move on from" the problems of the immediate past”, said Sri Lankan Foreign Minister G L Peiris, who is on a three-day visit to India
India’s External Affairs Minister S Jaishankar on Monday met with his Sri Lankan counterpart G L Peiris in New Delhi and held extensive discussions on economic and investment initiatives, fishing issues among others
Difficult days don’t last long, Sri Lankan President Gotabaya Rajapaksa said on Friday, asking his people to build a “positive attitude” as the island country celebrates its 74th independence day amid an unprecedented economic crisis, with people fearing a shortage of essentials
Amid the worsening economic crisis, Sri Lanka has written to the International Monetary Fund (IMF) seeking “technical support” in tackling the ongoing crisis, confirmed Finance Minister Basit Rajapaksa, after the government kept avoiding the IMF option for months amid domestic pressure
Amid the growing fuel crisis exacerbated by a foreign exchange crisis, the Sri Lankan government has decided to purchase diesel from India’s state-owned Indian Oil Corporation Ltd (IOCL), and a proposal for the purchase has been cleared by the Cabinet on Tuesday
Sri Lanka has sought market access in Turkey for its goods when Turkish Foreign Minister Mevlüt Çavuşoğlu visited Sri Lanka for the promotion of the bilateral trade between the two countries
In a move that could spark a row between Colombo and New Delhi, Sri Lankan authorities have planned to auction off as many as 105 boats belonging to fishermen from the southern Indian state of Tamil Nadu
The construction industry, the biggest contributor to the gross domestic product in Sri Lanka, is threatened by the shortage of cement, and now builders have urged authorities to resolve their issues
In a bid to revive its prized tea industry facing an export collapse, the Sri Lankan government has said it will provide fertilizer subsidies to tea cultivators who have been suffering since the ban on chemical fertilizer last year
India on Tuesday extended a $500 million line of credit to Sri Lanka for the import of fuel as a couple of power plants in the island country ran out of fuel amid a severe foreign exchange crisis
Sri Lanka has been exploring the option of procuring fuel, required for the operations of power plants, from India as regular supplies are affected amid a severe foreign exchange crisis
India will extend $1.5 billion in additional lines of credit to Sri Lanka, Indian External Affairs Minister S Jaishankar confirmed on Saturday, assuring the island country of its continuous “support in all possible ways for overcoming economic and other challenges”
After Fitch Ratings, Standard and Poor's has now downgraded Sri Lanka’s sovereign ratings to ‘CCC’ with a negative outlook from an earlier ‘CCC+’ as its currency continued to be under pressure, indicating the island country may see a sovereign default scenario this year, a prospect the country’s central bank denied
A petition has been filed in Sri Lankan Supreme Court challenging the legality of the Trincomalee Oil Farm deal which was signed between Sri Lanka and India to boost energy and economic cooperation
Sri Lanka on Sunday launched an inter-city train service using coaches procured from India, highlighting key aspects of New Delhi's development partnership with the island nation
