Sri Lanka Economic Crisis News

Sri Lanka announces defaulting on all its external debt amid economic crises

Sri Lanka announces defaulting on all its external debt amid economic crises

Colombo: Sri Lanka defaulted on its $51 billion foreign debt on Tuesday, as the island nation faces its greatest economic crisis in recent memory and growing calls for the government’s removal. Acute food and fuel shortages, as well as extended daily power outages, have wreaked havoc on the country’s 22 million

Sri Lankan government revokes emergency order as economic crisis deepens

Sri Lankan government revokes emergency order as economic crisis deepens

COLOMBO: Sri Lanka`s President Gotabaya Rajapaksa revoked a state of emergency late on Tuesday after dozens of lawmakers walked out of the ruling coalition, leaving his government in a minority in parliament as it struggled to quell protests amid the country`s worst economic crisis in decades. In another setback for