Sri Lanka leader proposes 25-year plan for crisis-hit nation
Sri Lanka’s new president says his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster.
Rights groups urge Sri Lanka not to use force on protesters
International human rights groups have urged Sri Lanka’s new president to immediately order security forces to cease use of force against protesters after troops and police cleared their main camp following months of demonstrations over the country’s economic meltdown.
How Sri Lanka Landed in a Political and Economic Crisis and What It Means
Months of protests in Sri Lanka over soaring inflation, shortages of food and fuel and lengthy power cuts have created political turmoil in the South Asian nation and led to its first sovereign debt default since gaining independence from Britain in 1948. Continual changes in the government -- and sporadic outbreaks of violence -- were complicating efforts to manage the island’s foreign exchange crisis and secure more funds to keep its tourism-reliant economy running, having already been hit harwashingtonpost.com
How Sri Lanka Landed in a Crisis and What It Means: QuickTake
Months of protests in Sri Lanka over soaring inflation, shortages of food and fuel and lengthy power cuts have toppled the government in the South Asian nation and led to its first sovereign debt default since gaining independence from Britain in 1948. The political turmoil -- and sporadic outbreaks of violence -- were complicating efforts to manage the island’s foreign exchange crisis and secure more funds to keep its tourism-reliant economy running, having already been hit hard by the Covid-19washingtonpost.com
Disgraced President Flees to Maldives and Gets Worst Welcome Ever
Anadolu AgencySri Lankan President Gotabaya Rajapaksa resigned on Wednesday after massive nationwide protests over the rampant political corruption and the dismal economic crisis that have been plaguing the country in recent months.Rajapaksa’s resignation was the culmination of a week of pure chaos in the Sri Lankan city of Colombo. Protesters—many of whom blamed the former president for the country’s economic collapse—had broken into the president’s official residence, where they photographed tnews.yahoo.com
EXPLAINER: Why Sri Lanka's economy collapsed and what's next
Sri Lanka’s prime minister said late last month that the island nation’s debt-laden economy had “collapsed” as it runs out of money to pay for food and fuel. Short of cash to pay for imports of such necessities and already defaulting on its debt, it is seeking help from neighboring India and China and from the International Monetary Fund. Prime Minister Ranil Wickremesinghe, who took office in May, was emphasizing the monumental task he faced in turning around an economy he said was heading for “rock bottom.”news.yahoo.com
Sri Lanka president, PM to resign after tumultuous protests
Sri Lanka’s president and prime minister have both agreed to resign after the country’s most chaotic day in months of political turmoil, with protesters storming both officials’ homes and setting fire to one of the buildings in a rage over the nation’s severe economic crisis.
Sri Lanka PM says talks with IMF difficult due to bankruptcy
Sri Lanka’s negotiations with the International Monetary Fund on a bailout are more complex and difficult than before because it is a bankrupt nation, the country’s prime minister said Tuesday. Prime Minister Ranil Wickremesinghe told lawmakers that recent discussions with a visiting IMF mission were fruitful but not as straightforward as in the past. The government has shut schools and asked employees other than those in essential services to work from home.news.yahoo.com
Sri Lankan students demand government resign over crisis
Thousands of students from state universities have marched in Sri Lanka’s capital to demand the president and prime minister resign over an economic crisis that has caused severe shortages of essential supplies and disrupted people’s livelihoods and education.