Tag: sri lanka

Sri Lanka Newly Elected Government Faces Uphill Challenges of Sovereignty and Stabilizing the Economy

The new mandate of Sri Lanka necessitates efforts aimed at stabilizing the economy while keeping the country’s sovereignty intact.

Negative Economic Growth Recorded for the First Quarter of FY 2020 for Sri Lanka

Sri Lanka’s economic growth has reduced by negative 1.6 percent in the first quarter of 2020. 3.7% increase was recorded for the first quarter in 2019, reveals the official data. The department of census and statistics (CDS) revealed the data on Wednesday, over the summary GDP indicators for the first quarter. The quarter began on […]

Rajapaksa Looking to Tighten Hold on Power after Sri Lanka General Elections

Elections in Sri Lanka Sri Lankan politics is in a fractious state nowadays. President Gotabaya Rajapaksa hopes to tighten his hold on power after the elections. The elections are due to happen on Wednesday and can elevate his brother and allow the two to change the constitution if they prevail. Similarly, Rajapaksa is the man […]

Postal Balloting Begins in Sri Lanka

Sri Lanka’s General Elections In November 2018, the date changed to 5th January 2019. This was due to President Maithripala Sirisena dissolving parliament during a constitutional crisis. There were calls for snap elections. However, the Supreme Court later suspended the dissolution and ordered a halt to it, effectively moving the election\’s date back to 2020. […]

India Extends $ 400 million to Sri Lanka in a Currency Swap

The central bank of Sri Lanka has lent $400 million in a currency swap. The reserve bank of India concluded the deal by signing all relevant documents. The arrangement, intended to take the country out of the crisis, will mature till November 2022. Indian High Commission In Colombo Earlier, the Indian High Commission in Colombo […]