Light on Lanka
The country’s efforts to secure restructur- ing deals with creditors, including an earlier agreement with the Export-Import Bank of China, play a crucial role in this unfolding drama.
The country’s efforts to secure restructur- ing deals with creditors, including an earlier agreement with the Export-Import Bank of China, play a crucial role in this unfolding drama.
Sri Lanka President Ranil WIckremesinghe sacked sports minister Roshan Ranasinghe on Monday amid ongoing controversy in the Sri Lanka Cricket board.
A 6.2 magnitude earthquake struck Sri Lanka on Tuesday afternoon.
Opting to bowl first, Bangladesh earned a breakthrough off the last ball of the first over when Mushfiqur Rahim took a stunning catch behind the wicket to dismiss Kusal Perera (4).
Representative from Coast Guard Regional Headquarters (East), Defence Advisor to the High Commission of India in Colombo and other senior officers from both countries also participated
President Rajapaksa dissolved the Cabinet on Monday as he tried to put in place a unity government in the face of public unrest over the ruling party’s handling of the direly indebted economy. The endemic shortage of food and crippling power cuts are but symptoms of the overwhelming malaise.
In order to mitigate some of the economic difficulties faced by the people of Sri Lanka, India has extended support of about USD 2.5 billion in the past three months, the Ministry of External Affairs said on Thursday.
The suffering masses took to the streets with a single slogan, never before articulated against any head of state of this country. And in this desperation, the slogans arising from hunger, weariness, and helpless resentment were blind to all the differences between the communities, their collective frustration bringing them together as no lavishly foreign funded NGOs and INGOs could achieve for the last 10 years after the war.
Sri Lanka is battling a severe economic crisis with food and fuel scarcity affecting a large number of the people in the island nation.
The only possible way out of this quagmire is for Sri Lanka to restore macroeconomic stability and debt sustainability, while protecting vulnerable groups through well-targeted social safety nets. It will have to phase out the central banks direct financing of budget deficits, besides ensuring a gradual return to a market-determined exchange rate to rebuild international reserves
