Sri Lanka Debt Crisis
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Sri Lanka Partially Repays Iranian Oil Bebt With $20 Million Worth Of Tea
Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.
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IMF Resumes $2.9 Loan Billion Bailout For Sri Lanka
The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.
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Financially Stuck Sri Lanka, Moves To Restructure Domestic Debt
Sri Lankan authorities have declared a five-day closure of financial markets from Thursday ahead of a controversial move to restructure the government's domestic debt amounting to more than $51 billion.
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Ahead Of IMF Bailout, Sri Lanka Seeks "10-Year" Time To Repay Debt
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.
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"Will Play Positive Role" In Helping Bankrupt Sri Lanka, Says China
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.
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"How Can We Manage": Power Price Hike Pushes Crisis-Hit Sri Lanka On Brink
The latest electricity price rise in crisis-hit Sri Lanka has left stall owner Mohammed Lafeel in a quandary: the 66% increase means he can't afford to pay for electricity but can't manage without it so goes deeper into debt to keep it on.
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Sri Lanka Hikes Power Prices By 275 Per Cent To Secure IMF Deal
Sri Lanka's electricity board hiked consumer rates by up to 275 percent, officials said Thursday, the second steep increase in months as the bankrupt island nation works to secure an IMF bailout.
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India Writes To IMF Supporting Sri Lanka's Debt Restructuring Plan: Report
New Delhi's backing comes at a critical time for Sri Lanka as it has to put its massively indebted public finances in order to unlock the IMF loan that was agreed in September.
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Sri Lankan Tower, Taller Than 1,000 Feet, Displays Beijing's Control
A huge green and purple communications tower in Sri Lanka financed with Chinese debt that has become a symbol of the ousted Rajapaksa clan's closeness to Beijing will finally open this week.
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Sri Lanka Needs To Talk To China On Debt Restructuring, Says IMF
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state's government seeks a financing loan from the IMF.
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Sri Lanka: 5 Basic Facts About Country Hit By Crisis
Sri Lanka is hit by a crisis, with its economy crumbling under the weight of massive foreign debt and steep inflation. President Gotabaya Rajpaksa has fled and Prime Minister Ranil Wickremesinghe has imposed an emergency.
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Sri Lanka's Economic Crisis Should Be Warning To Us All: UN
With the war in Ukraine dragging on and risk seeing the same economic crisis as Sri Lanka, the UN said on Thursday as it advised the international community to introduce radical financial measures to help countries saddled with debt.
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Sri Lanka To Default On Debt, No Money For Fuel, Minister Says
Sri Lanka is expected to be placed into default by rating agencies on Wednesday after the non-payment of coupons on two of its sovereign bonds, while the energy minister said the country had run out of money to pay for fuel.
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Sri Lanka To Default On Debt, No Money For Fuel, Minister Says
Sri Lanka is expected to be placed into default by rating agencies on Wednesday after the non-payment of coupons on two of its sovereign bonds, while the energy minister said the country had run out of money to pay for fuel.
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"Sri Lanka To Take At Least 6 Months To Repay Its Debts": Central Bank
Sri Lanka will take at least six more months to start repaying its debts, the central bank said Thursday as the government shut schools because of fuel shortages.
-
Sri Lanka Partially Repays Iranian Oil Bebt With $20 Million Worth Of Tea
Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.
-
IMF Resumes $2.9 Loan Billion Bailout For Sri Lanka
The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.
-
Financially Stuck Sri Lanka, Moves To Restructure Domestic Debt
Sri Lankan authorities have declared a five-day closure of financial markets from Thursday ahead of a controversial move to restructure the government's domestic debt amounting to more than $51 billion.
-
Ahead Of IMF Bailout, Sri Lanka Seeks "10-Year" Time To Repay Debt
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.
-
"Will Play Positive Role" In Helping Bankrupt Sri Lanka, Says China
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.
-
"How Can We Manage": Power Price Hike Pushes Crisis-Hit Sri Lanka On Brink
The latest electricity price rise in crisis-hit Sri Lanka has left stall owner Mohammed Lafeel in a quandary: the 66% increase means he can't afford to pay for electricity but can't manage without it so goes deeper into debt to keep it on.
-
Sri Lanka Hikes Power Prices By 275 Per Cent To Secure IMF Deal
Sri Lanka's electricity board hiked consumer rates by up to 275 percent, officials said Thursday, the second steep increase in months as the bankrupt island nation works to secure an IMF bailout.
-
India Writes To IMF Supporting Sri Lanka's Debt Restructuring Plan: Report
New Delhi's backing comes at a critical time for Sri Lanka as it has to put its massively indebted public finances in order to unlock the IMF loan that was agreed in September.
-
Sri Lankan Tower, Taller Than 1,000 Feet, Displays Beijing's Control
A huge green and purple communications tower in Sri Lanka financed with Chinese debt that has become a symbol of the ousted Rajapaksa clan's closeness to Beijing will finally open this week.
-
Sri Lanka Needs To Talk To China On Debt Restructuring, Says IMF
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state's government seeks a financing loan from the IMF.
-
Sri Lanka: 5 Basic Facts About Country Hit By Crisis
Sri Lanka is hit by a crisis, with its economy crumbling under the weight of massive foreign debt and steep inflation. President Gotabaya Rajpaksa has fled and Prime Minister Ranil Wickremesinghe has imposed an emergency.
-
Sri Lanka's Economic Crisis Should Be Warning To Us All: UN
With the war in Ukraine dragging on and risk seeing the same economic crisis as Sri Lanka, the UN said on Thursday as it advised the international community to introduce radical financial measures to help countries saddled with debt.
-
Sri Lanka To Default On Debt, No Money For Fuel, Minister Says
Sri Lanka is expected to be placed into default by rating agencies on Wednesday after the non-payment of coupons on two of its sovereign bonds, while the energy minister said the country had run out of money to pay for fuel.
-
Sri Lanka To Default On Debt, No Money For Fuel, Minister Says
Sri Lanka is expected to be placed into default by rating agencies on Wednesday after the non-payment of coupons on two of its sovereign bonds, while the energy minister said the country had run out of money to pay for fuel.
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"Sri Lanka To Take At Least 6 Months To Repay Its Debts": Central Bank
Sri Lanka will take at least six more months to start repaying its debts, the central bank said Thursday as the government shut schools because of fuel shortages.
