Sri lanka economic crisis - Financial Daily News Site

IOC Provides Fuel As Government Pumps Go Dry

IOC Provides Fuel As Government Pumps Go Dry

Lanka IOC, the subsidiary of Indian Oil Corporation in Sri Lanka, kept its pumps open throughout Tuesday as the cash-starved government’s fuel entity’s fuel stations did not operate in the island nation due to the worsening energy crisis. On Monday, the Sri Lankan government announced that only essential services will operate from midnight till July … Read more

Postal services limited to three days-a week amid fuel crisis

Representative Image

ANI | Updated: Jun 29, 2022 06:35 IST Colombo [Sri Lanka], June 29 (ANI): Amid the fuel shortage in the country, Sri Lanka’s postal department decided to open post and sub ports offices three days a week considering transport and travelling difficulties. Accordingly, the services by the main and sub-offices will be available on Tuesday, … Read more

Sri Lanka hikes fuel prices as filling stations go dry Colombo

Sri Lanka petrol

Crisis-hit Sri Lanka has hiked petrol price by LKR 50 and diesel by LKR 60 respectively, the third price revision in over two months, as the country continues to reel under the worst economic crisis in decades due to a crippling shortage of foreign exchange reserves. State-run fuel retailer Ceylon Petroleum Corporation (CPC) has announced … Read more

Top US delegation to visit Sri Lanka to help island nation avert crisis

People wait in a queue to buy petrol at a fuel station, amid the country

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 … Read more

Sri Lanka Limits Foreign Currency Possession By Individuals To Support Dwindling Forex Reserve

Sri Lanka Limits Foreign Currency Possession By Individuals To Support Dwindling Forex Reserve

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 is facing a severe forex crisis which forced the island nation to declare a … Read more

Sri Lanka Limits Foreign Currency Holdings By Individuals To $10,000

Sri Lanka Limits Foreign Currency Holdings By Individuals To $10,000

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

Sri Lanka limits forex possession by citizens to support dwindling reserves

Photo: Bloomberg

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 … Read more

Sri Lanka Truck Driver Dies After Waiting For 5 Days in Queue at Fuel Station

Sri Lanka Truck Driver Dies After Waiting For 5 Days in Queue at Fuel Station

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

Is Sri Lanka Seeking Russia’s Help Amid Oil Shortage? Minister Says…

Sri Lanka Left With Fuel Stocks For Around Five Days: Minister

Sri Lanka Economic Crisis: Sri Lanka is facing its worst economic crisis since gaining independence. 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 … Read more

The Lankan crisis: Forex reserves rise for first time in five months

Sri Lanka

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