Category: Local News

The International Monetary Fund (IMF) on Wednesday said that it supported Sri Lanka’s plans to engage in “collaborative dialogue” with creditors, a day after the country unilaterally suspended external debt payments amid a severe economic crisis.

Prime Minister Mahinda Rajapaksa in his message to mark the dawn of the New Year said the government is already putting into action the future plans needed to avoid the hardships people had to face unexpectedly in challenging times.

Leader of the Opposition Sajith Premadasa says the New Year, a festival that teaches the lesson of fertility, dawns this year trapping citizens in many dilemmas.

President Gotabaya Rajapaksa said all must resolve to overcome the challenges confronting us with understanding.

Sri Lanka was downgraded deeper into junk by Fitch Ratings, which said the nation’s decision to suspend payments on its foreign debt has kicked off a sovereign default process.

India is willing to commit up to another $2 billion in financial assistance to Sri Lanka while also supporting the island nation with food and fuel

Sri Lanka has received emergency funding of USD 10 million from the World Bank for purchasing medicinal drugs, the Ministry of Health has said.

Former Minister Wimal Weerawansa said that if Sri Lanka wants some form of stability, the Prime Minister and the Government must resign paving the way for a new administration.

At least 300 kg of heroin and 25 kg of Methamphetamine, also known as ICE, were taken into custody by the Sri Lanka Navy during a search operation conducted off the Southern coast.

Sri Lanka Prime Minister Mahinda Rajapaksa said the Government is ready to hold discussions with the protesting youth at Galle Face Green.

Sri Lanka warned of an unprecedented default and halted payments on foreign debt, an extraordinary step taken to preserve its dwindling dollar stockpile for essential food and fuel imports.

Sri Lanka will temporarily suspend foreign debt payments to avoid a hard default, the central bank governor said on Tuesday, with its limited foreign reserves required for imports of essential items such as fuel.

The Government Medical Officers’ Association (GMOA) claims state and private hospitals are facing shortages of 237 medicinal drugs at present.

Former Prime Minister and United National Parliamentarian Ranil Wickremesinghe warned that Sri Lanka could run out of fuel in the second week of May or later in the month, after the current Indian credit line is exhausted, plunging the country further into darkness and economic abyss.

I came to serve the people and not any politician, newly appointed Central Bank Governor Dr. Nandalal Weerasinghe said at his first media briefing held at the Central Bank Head Office in Colombo after assuming duties last Friday.

Prime Minister Mahinda Rajapaksa says that though all the parties represented in Parliament were urged to come forward to help resolve the current economic crisis in the country, no one has come forward.