Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least $3 billion via the lender’s extended fund facility (EFF), sources familiar with the matter told Reuters.

Sri Lanka’s shipping agents have warned that shipping lines could withdraw from accepting import and export cargo in and out of Sri Lanka, as local agents have failed to remit US $ 70 million in freight charges owed to shipping lines over the past several months, due to the foreign exchange crisis.

Sri Lanka’s Finance Ministry has decided to impose a 100% surcharge rate on both General and Preferential Custom Duty of multiple products with effect from Wednesday (June 01).

Former MP Duminda Silva, who was admitted to the Sri Jayewardenepura Hospital this morning (June 01), was arrested by the Criminal Investigations Department (CID) a short while ago.

Sri Lanka removed restrictions on imports to help ease shortages of everything from food to medicine.

Housing Development Authority Chairman Duminda Silva was admitted to Sri Jayewardenepura Hospital today (June 01), sources said.

Sri Lanka is calling on farmers to grow more rice as it faces its worst economic crisis in more than 70 years.

The gazette notification on the increase in the Value Added Tax was published today (June 01) under the signature of Sri Lankan Finance Minister Ranil Wickremesinghe.

Another six persons have been arrested over the unrest and violence reported opposite Temple Trees (Maina Go Gama) and in Galle Face (Gota Go Gama) on May 09.

Cash-strapped Sri Lanka on Tuesday announced steep, across-the-board tax hikes to shore up revenue as the country suffers its worst economic downturn and seeks an IMF bailout.

The Value Added Tax (VAT) has been increased from 8% to 12% with immediate effect, announced the Office of the Prime Minister today (May 31).

Supreme Court today (May 31) issued an Interim Order suspending the operation of Presidential Pardon granted by President to former parliamentarian Duminda Silva.

Major General Vikum Liyanage has been appointed as the new 24th Commander of the Sri Lanka Army by President Gotabaya Rajapaksa today (May 31).

42 Department, Statutory Boards and State Corporations including the Sri Lanka Telecom (SLT), Board of Investment (BOI) and the Colombo Port City Economic Commission have been gazetted under the Defence Ministry which is under Sri Lankan President Gotabaya Rajapaksa.

Shashi Weerawansa, the wife of National Freedom Front (NFF) Leader Wimal Weerawansa was today (May 31) released on bail by Colombo Chief Magistrate’s Court.

Sri Lankan Prime Minister Ranil Wickremesinghe has proposed to amend a number of financial acts to increase the revenue of the government.