COLOMBO, MAY 12: Beleaguered President Gotabaya Rajapaksa was set to name a new prime minister Thursday to try to steer Sri Lanka out of its dire economic crisis after days of violence, officials said. Respected five-time former premier Ranil Wickremesinghe was the frontrunner to head a “unity government” with cross-party support in the 225-member parliament Continue Reading
COLOMBO,APRIL 16: Sri Lanka’s state-owned petroleum corporation announced fuel rationing for vehicles with effect from Friday, as a historic economic crisis roils the country. According to the Ceylon Petroleum Corporation (CPC) statement, now motorcycles and other two-wheelers can purchase fuel upto worth Rs 1,000 per visit to a fuel station. Similarly, Continue Reading
COLOMBO, APRIL 12: Crisis-stricken Sri Lanka defaulted on its $51 billion external debt on Tuesday, calling the move a “last resort” after running out of foreign exchange to import desperately needed goods. The island nation is grappling with its worst economic downturn since independence, with regular blackouts and acute shortages of food and fuel. Sri Continue Reading
