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Colombo: After a protracted battle by India, the United States and Japan to get China to agree to restructure its massive loan of USD 7 bn to Sri Lanka,  the International Monetary Fund (IMF) has finally approved  a USD 2.286 billion bailout for financially-hit Sri Lanka. more
Sri Lanka reduces kerosene prices for second time this year

Colombo: Sri Lankan President Ranil Wickremesinghe on Wednesday endorsed a proposal by state-owned fuel importer and distributor Ceylon Petroleum Corporation (CPC) to lower the price of k ...

Sri Lankan Crisis: Experts, locals express doubt feasibility of Chinese-built Port City Colombo

Colombo: Experts in Sri Lanka are doubting the feasibility of the Port City Colombo (PCC), a vast new Chinese-built reclaimed commercial zone in the capital city, especially at a time whe ...

Sri Lanka’s debt to China close to 20 pct of public external debt, study reveals

Colombo: A study has found Sri Lanka owed Chinese lenders $7.4 billion - nearly a fifth of its public external debt - by the end of last year, media reports said on Wednesday.

China’s stand may deprive Sri Lanka of USD 2.9 bn from IMF in early 2023: CPA chief

Colombo: Executive Director of the Centre of Policy Alternatives (CPA) Dr. Paikiasothy Saravanamuttu has said  China’s unwillingness to accept the proposed debt restructuring m ...

Sri Lanka food inflation peaks to 86pc

Colombo: The nationwide food inflation in Sri Lanka has peaked to 85.8 per cent in September, up from 84.6 per cent in August, it was reported on Wednesday.

Sri Lanka: Inflation jumps to 69.8 percent

Colombo: Sri Lanka’s inflation, as measured by the year-on-year change in the Colombo Consumer Price Index, has spiked to  69.8 percent in September 2022 from 64.3 percent a mo ...

Sri Lanka: GDP shrinks 8.4 pc in 2Q

Sri Lanka's economy has officially entered into a period of recession with back-to-back negative growth rates in the first and second quarters amid unending economic and political tur ...

German politician says Sri Lanka is the most glaring example of how BRI debt trap can ruin a nation

Berlin: German politician Jo Leinen, who is also a former Minister of Environment and Member of the European Parliament, has said Sri Lanka might be the most glaring example of how the BR ...

Sri Lanka stock market closed amid nationwide protests

Colombo: Sri Lanka's Colombo Stock Exchange (CSE) declared on Tuesday a market holiday as a nationwide curfew was imposed due to street unrest.