Where Sri Lanka’s inflation-driven crisis could head next

COLOMBO: Sri Lankan President Gotabaya Rajapaksa has defied calls to resign, pleading instead to form a new government after collapsing this week left eight violent people dead in an escalation of a monthslong crisis over food and fuel shortages. “I will give the opportunity for the new government and new PM to start a new … Read more

Explained: How Sri Lanka fell into its worst economic crisis & what’s next

NEW DELHI: Sri Lanka’s economic crisis has only deepened further in the past few months, stemming from mismanaged government finances and ill-timed tax cuts in addition to the impact of Covid. Diminishing forex reserves, huge piles of debt, devaluation of currency, rising inflation and a falling economy has compelled the people to struggle for items … Read more

Nationwide curfew follows Sri Lanka violence; Mahinda faces calls for arrest: Key developments

NEW DELHI: Sri Lanka’s armed forces were ordered on Tuesday to shoot at any persons damaging public property or threatening lives, Defense Ministry spokesman Nalin Herath said. The island nation has been rocked by a bout of violence that has left at least eight people dead and 200 injured amid its worst economic crisis in … Read more