India extends US$1 billion credit line for Sri Lanka by a year
The credit line, part of about US$4 billion in emergency assistance extended by India during the peak of Sri Lanka's financial crisis early last year, was scheduled to end in March.
Debt-stricken Sri Lanka to receive first tranche of IMF bailout funds
Economic mismanagement coupled with the impact of the pandemic left Sri Lanka severely short of dollars for essential imports, tipping the country into its worst financial crisis in seven decades.
China promises Sri Lanka deal on debt treatment in coming months
Sri Lanka is facing its worst economic crisis in more than seven decades and a shortage of dollars has disrupted imports of essentials.
Sri Lanka workers defy strike ban to protest rescue plan
President Ranil Wickremesinghe is facing a public backlash over steep tax hikes and spending cuts imposed to secure a sorely needed International Monetary Fund bailout.
Sri Lanka outlaws strikes as anti-tax protests spread
Anger towards President Ranil Wickremesinghe is growing as his government slashes spending and hikes taxes to secure an IMF bailout after more than a year of economic and political upheaval.
Electricity bill increase pushes crisis weary Sri Lankans to the brink
The power price increase is the latest measure to clinch a loan to tackle a crisis that evolved from the confluence of the pandemic battering its tourism-reliant economy, rising oil prices and populist tax cuts.
Ousted Sri Lankan president quizzed over cash stash
Rajapaksa presided over an unprecedented economic crisis that saw the island nation's 22 million people suffer through months of food, fuel and pharmaceutical shortages.
Bankrupt Sri Lanka says treasury running dry, cuts spending
The government warns it has barely enough revenue to pay public salaries and pensions despite huge tax hikes.
Sri Lanka hopes for tourism revival with 1.5 million arrivals next year
The country of 22 million people, famed for its beaches, ancient temples and aromatic tea, has been struggling for months to pay for essential imports of fuel, food and medicine because of a lack of foreign exchange.
Sri Lanka frees Tamil prisoners who tried to assassinate president
Former president Chandrika Kumaratunga, Sri Lanka's first woman head of state, survived the attack at her final rally in the capital, but lost her right eye.
Crisis-hit Sri Lanka votes to curb presidential powers
Parliament voted overwhelmingly to endorse a constitutional amendment that limited presidential control of the police, judiciary and appointments to the civil service.
Govt agrees to recruit 10,000 workers from Sri Lanka
Human Resources Minister M Saravanan says this is to help Sri Lanka, which is currently facing an economic crisis.