By PTI COLOMBO: Cash-strapped Sri Lanka has reduced the limit of foreign currency possession by an individual from USD 15,000 to USD 10,000, in a desperate move to shore up its fast-depleting forex reserve required to fund the import of essentials, including food and fuel. Sri Lanka is facing a severe forex crisis which forced … Read more
Colombo: In an effort to help avert the ongoing economic crisis in Sri Lanka, a top delegation from the US comprising officials from the Departments of State and Treasury will embark on a three-day visit to the island nation on Sunday. The delegation, which includes Deputy Assistant Secretary of Treasury for Asia Robert Kaproth and … Read more
Sri Lanka limits foreign currency possession by individuals to support low FX reserves Colombo: Sri Lanka has reduced the limit of foreign currency possession by an individual from $15,000 to $10,000 in a desperate move to shore up its fast-depleting forex reserve required to fund the import of essentials, including food and fuel. Sri Lanka … Read more
Colombo: In a grave tragedy, a 63-year-old truck driver has died in Sri Lanka after standing for five days in a queue at a fuel filling station in the country’s Western Province, reported news agency PTI. This was the 10th death reported due to prolonged waiting for fuel procurement in the debt-ridden island nation grappling … Read more
By PTI COLOMBO: Sri Lanka has reached out to several companies suggested by Russia’s embassy in Colombo to buy crude oil, Energy Minister Kanchana Wijesekera said on Sunday, in an attempt by the debt-ridden island nation to get oil on credit to keep its only oil refinery running. Wijesekera told the media that the Russian … Read more
Sri Lanka’s foreign exchange pile rose for the first time in five months, likely due to deferment of payments to India under an Asian Clearing Union, even as the nation scrambles for credit lines to ease shortages. The stockpile rose to $1.92 billion at the end of May, from $1.81 billion the … Read more
Sri Lankan Prime Minister Ranil Wickremesinghe on Friday praised India for extending support amid the continuing economic crisis and expressed a desire to further strengthen ties between the two nations. “I expressed our country’s appreciation for the support India has extended during this difficult period. I look forward to further … Read more
Sri Lanka Prime Minister Ranil Wickremesinghe Colombo: Sri Lanka Prime Minister Ranil Wickremesinghe on Friday spoke to Finance Minister Nirmala Sitharaman and thanked India for its support to the crisis-hit island nation. “I had a conversation with India’s Minister of Finance @nsitharaman today. I expressed our country’s appreciation for the support India has extended during … Read more