Sri Lanka faces diesel shortage as foreign exchange crisis worsens

May 05, 2022

Colombo [Sri Lanka], May 5 : Sri Lankan Minister of Power and Energy Kanchana Wijesekera on Thursday said the country is facing a shortage...

India plays key role in IMF's clearance of 48-month EFF worth USD 2.9 billion to Sri Lanka

Apr 14, 2023

India earnestly supported Sri Lanka in this arduous journey of mobilizing IMF support amid a serious foreign exchange crisis and consequent harsh economic conditions.

Sri Lanka inflation to reach 5% target during Q3-Q4: Central bank official

Feb 21, 2024

The island nation defaulted on its overseas debt in May 2022 after depleted foreign exchange reserves triggered the worst financial crisis since its Independence.

Sri Lanka's foreign exchange crisis gets compounded by China's debt-trap diplomacy

Jan 12, 2022

Colombo [Sri Lanka], January 13 : Sri Lanka's foreign exchange crisis is compounded by its inability to meet the financial obligations initiated in co-operation...

China's lending practices push Maldives toward sovereign default

Mar 13, 2025

The Maldives is grappling with a mounting debt crisis that threatens its economic sovereignty, as foreign exchange reserves dwindle to precarious levels while substantial...

"With whose age is rupee competing?": Congress MP Manish Tewari slams Centre

May 26, 2026

Reflecting on Union Finance Minister Nirmala Sitharaman's statement that the fuel, fertiliser and foreign exchange are in crisis, he accused the government of not...