As Sri Lanka votes, a $2.9bn IMF loan looms large - Al Jazeera
WEB15 hours ago · As Rajapaksa’s successor, Wickremesinghe was tasked with reversing Sri Lanka’s economic crisis. With few options on the table, he turned to the IMF. In March 2023, Colombo agreed to a 48-month ...
Sri Lanka: Why is the country in an economic crisis? - BBC
WEBMar 29, 2023 · The International Monetary Fund is lending Sri Lanka $3bn (£2.4bn) to help it deal with its worst economic crisis in its history as an independent nation. Soaring prices, shortages of...
Sri Lanka's presidential election to test economic green shoots
WEB1 day ago · Sri Lanka's economy is expected to grow 3% this year, reversing last year's contraction, while inflation, which peaked at 70% in September 2022, moderated to 0.5% in August.
Sri Lanka's Economy Shows Signs of Stabilization, but Poverty to …
WEBApr 1, 2024 · Sri Lanka’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. But, the country still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank's latest bi-annual update.
IMF approves second review of Sri Lanka's $2.9 bln bailout, warns …
WEBCOLOMBO, June 13 (Reuters) - The International Monetary Fund (IMF) approved the second review of Sri Lanka's $2.9 billion bailout, but the global lender warned the economy remains vulnerable...
Sri Lanka Reaches Restructuring Deal Days Before Election
WEB1 day ago · Sri Lanka said it’s reached an agreement in principle with bondholders to restructure about $12.6 billion in bonds, just two days before the country heads to elections that have rattled investors.
Sri Lanka reaches deal on debt restructuring with bilateral …
WEBJun 27, 2024 · By 2022, Sri Lanka had to repay about $6 billion in foreign debt every year, amounting to about 9.2% of gross domestic product. The agreement would enable Sri Lanka to maintain debt payments at less than 4.5% of GDP between 2027 and 2032.
Economy in focus as Sri Lanka heads to vote in crucial …
WEB1 day ago · The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. ... Sri Lanka’s …
Crisis-ridden Sri Lanka's economic reforms are yielding results, …
WEBJan 19, 2024 · Sri Lanka has been struggling with an economic crisis since declaring bankruptcy in April 2022 with more than $83 billion in debt, more than half of it to foreign creditors. The crisis caused severe shortages of food, fuel and other necessities.
Sri Lanka crisis: Central bank lays out extent of economic problems - BBC
WEBThe Central Bank of Sri Lanka forecast the economy will shrink by 2% this year, but expand by 3.3% in 2024. The prediction is more optimistic than the International Monetary Fund (IMF), which...