Sri Lanka Crisis

Troubles continued to mount for an embattled Pakistan today, with official data revealing a rise in its annual inflation to a record 37.97 per cent in May. Pakistan's figure is the highest in South Asia, ahead of Sri Lanka

Sri Lankan President Ranil Wickremesinghe on Monday said he is keen on settling the ethnic conflict with the minority Tamil community.

Sri Lanka's Parliament on Friday approved the much-needed USD 3 billion IMF bailout package to revive the island's economy which was hit hard by a catastrophic economic and humanitarian crisis sparked by years of mismanagement and the raging pandemic

Sri Lanka's election body on Tuesday said the local body polls scheduled to be held on April 25 have now been postponed indefinitely due to an acute shortage of funds.

Sri Lanka would seek a new temporary credit facility of USD 1 billion from India to purchase essential items including food and medicine, the official media here reported on Monday.

The IMF has approved a $3 billion bailout programme to help debt-ridden Sri Lanka overcome its economic crisis and catalyse financial support from other development partners, a move welcomed by Colombo on Tuesday as a "historic milestone".

Sri Lanka's president said Monday that the International Monetary Fund has approved its request for a $2.9 billion bailout, raising hopes for an easing of the island nation's dire economic crisis.

Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe's office said Monday on the eve of a desperately needed $2.9 billion IMF bailout.

Amid the economic crisis, External Affairs Minister S Jaishankar asserted that it is natural for India to stand by Sri Lanka during its difficult time as "blood is thicker than water".

The Sri Lankan government's printer Gangani Liyanage on Thursday made written requests to both the Treasury Secretary and police chief to hold the much-delayed local council elections now scheduled for April 25.

China said on Wednesday that it would "play a positive role" in helping bankrupt Sri Lanka get through its debt crisis after agreeing to restructure its loans.

The Sri Lankan Foreign Minister also stated that the Indian government took some very bold, decisive actions by providing the island nation with about 3.9 billion worth of bilateral credit and accreditation.

China's agreement to restructure its loans to Sri Lanka paves the way for International Monetary Fund financing to the bankrupt island nation, the IMF said Tuesday, adding this would also speed up funding from others.

China's Exim bank "sent a letter to the IMF" expressing its willingness to "restructure" credit to Sri Lanka, President Ranil Wickremesinghe told parliament.

Sri Lanka's Election Commission on Friday formally announced that the local body elections will not be held on March 9 as planned and a fresh date will be notified on March 3.

Troubles continued to mount for an embattled Pakistan today, with official data revealing a rise in its annual inflation to a record 37.97 per cent in May. Pakistan's figure is the highest in South Asia, ahead of Sri Lanka

Sri Lankan President Ranil Wickremesinghe on Monday said he is keen on settling the ethnic conflict with the minority Tamil community.

Sri Lanka's Parliament on Friday approved the much-needed USD 3 billion IMF bailout package to revive the island's economy which was hit hard by a catastrophic economic and humanitarian crisis sparked by years of mismanagement and the raging pandemic

Sri Lanka's election body on Tuesday said the local body polls scheduled to be held on April 25 have now been postponed indefinitely due to an acute shortage of funds.

Sri Lanka would seek a new temporary credit facility of USD 1 billion from India to purchase essential items including food and medicine, the official media here reported on Monday.

The IMF has approved a $3 billion bailout programme to help debt-ridden Sri Lanka overcome its economic crisis and catalyse financial support from other development partners, a move welcomed by Colombo on Tuesday as a "historic milestone".

Sri Lanka's president said Monday that the International Monetary Fund has approved its request for a $2.9 billion bailout, raising hopes for an easing of the island nation's dire economic crisis.

Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe's office said Monday on the eve of a desperately needed $2.9 billion IMF bailout.

Amid the economic crisis, External Affairs Minister S Jaishankar asserted that it is natural for India to stand by Sri Lanka during its difficult time as "blood is thicker than water".

The Sri Lankan government's printer Gangani Liyanage on Thursday made written requests to both the Treasury Secretary and police chief to hold the much-delayed local council elections now scheduled for April 25.

China said on Wednesday that it would "play a positive role" in helping bankrupt Sri Lanka get through its debt crisis after agreeing to restructure its loans.

The Sri Lankan Foreign Minister also stated that the Indian government took some very bold, decisive actions by providing the island nation with about 3.9 billion worth of bilateral credit and accreditation.

China's agreement to restructure its loans to Sri Lanka paves the way for International Monetary Fund financing to the bankrupt island nation, the IMF said Tuesday, adding this would also speed up funding from others.

China's Exim bank "sent a letter to the IMF" expressing its willingness to "restructure" credit to Sri Lanka, President Ranil Wickremesinghe told parliament.

Sri Lanka's Election Commission on Friday formally announced that the local body elections will not be held on March 9 as planned and a fresh date will be notified on March 3.