‘I want to thank PM Modi’: Sri Lanka’s new PM Wickremesinghe seeks closer ties with India

Sri Lanka’s new Prime Minister Ranil Wickremesinghe has said he looks forward to closer ties with India during his term and thanked India for its economic assistance to the country as it tackles the worst economic crisis since independence. Wickremesinghe, 73, was sworn-in as Sri Lanka’s 26th prime minister on Thursday to stabilize the country’s … Read more

Let’s not compare Nepal and Sri Lanka

The recent political and economic crisis in Sri Lanka has prompted people to compare Nepal’s economic environment to that of Sri Lanka. But the nature and extent of problems in the respective countries are different. Though a few indicators look similar for both countries, Nepal’s growth rate this fiscal year has significantly improved from earlier … Read more

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

Where Sri Lanka’s Inflation-Driven Crisis Could Head Next

Sri Lankan President Gotabaya Rajapaksa has defied calls to resign. Sri Lankan President Gotabaya Rajapaksa has defied calls to resign, pleading instead to form a new government after violent conflict this week left eight people dead in an escalation of a months-long crisis over food and fuel shortages. “I will give the opportunity for the … 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

What Led to Resignation of Mahinda Rajapaksa as Sri Lanka PM: A Timeline of Events in Island Nation

India oi-Prakash KL | Published: Tuesday, May 10, 2022, 12:07 [IST] New Delhi, May 10: The anti-government protests in Sri Lanka triggered by the island nation’s first economic turmoil turned out to be a tsunami that forced Mahinda Rajapaksa to resign as the prime minister of the country. The crisis is caused in part by … Read more

Depleted hospitals rely on Sri Lankan expats to fly in medicine

As Sri Lanka’s worst economic crisis in decades took root, prompting medical shortages and halting surgeries, Kavindya Thennakoon knew she had to do something. Before boarding a flight from San Francisco to Colombo, the Stanford graduate and co-founder of a digital education app posted on social media and asked those running low on supplies to … Read more