Sri Lankan Forex Crisis

Sri Lanka totters as forex kitty is running out

With Sri Lanka running out of foreign exchange reserves, the local elections that were scheduled for March 9 have been…

2 years ago

Will Sri Lanka’s finance minister manage to clinch $1 billion loan deal during visit to India?

<p> <strong>Amid an acute economic crisis, Sri Lankan finance minister Basil Rajapaksa will visit India. New Delhi is likely to…

3 years ago

India decides to bail out cash-strapped Sri Lanka–likely to announce another $1 bn line of credit soon

<p> <strong>India has almost finalized extension of another $1 billion line of credit to cash strapped Sri Lanka. Earlier during…

3 years ago

As external debt repayment deadlines inches closer, all eyes on Sri Lanka– will it restructure part of its debt?

<p> <strong>Will Sri Lanka restructure its albatross-like external debt? After the country’s foreign exchange reserves dipped to $1.6 billion in…

3 years ago

Sri Lanka’s forex reserves drop to a new low, just enough to handle imports for a month

<p> <strong>Sri Lanka’s foreign exchange reserves further dropped to $1,587 million in November 2021 – the lowest since May 2009.…

3 years ago

Forex crisis may lead to closure of Sri Lanka’s only oil refinery unless India steps in

<p> Sri Lanka is once again looking at closing down the Sapugaskanda Oil Refinery as paucity of foreign exchange has…

3 years ago

Is Sri Lanka’s economy sinking as growth contracts 1.5% in the third quarter?

<p> <strong>Sri Lanka’s already battered economy contracted by 1.5 per cent in the third quarter this year as the country…

3 years ago

After Adani Group, Indian IT major HCL Technologies expands in Sri Lanka

<p> Indian IT giant HCL Technologies (HCL) opened its new facility in Sri Lanka's capital Colombo at the state-of-the-art Cinnamon…

3 years ago

Sri Lankan importers defer payments of about $40 billion on Indian goods

<p> Following the foreign exchange crisis in Sri Lanka, payments worth $40 billion on imports from India comprising textiles, auto…

3 years ago

Sri Lanka lifts price control after hoarding and black marketing fuels popular anger

<p> Sri Lanka lifted the control over prices of essential food items with a view to easing supply and ending…

3 years ago