Island will get second tranche of much-need bailout from the IMF

The International Monetary Fund executive board approved the release of the second tranche of a $2.9 billion dollar bailout package to help Sri Lanka recover from

US plans to build a $553M terminal in Colombo port in rivalry with China

The U.S. announced a $553 million project yesterday to build a deep-water shipping container terminal in Sri Lanka’s Port of Colombo as it competes with China in international development

Sri Lanka reaches an agreement with EXIM Bank on debt, clearing IMF funding snag

Sri Lanka says it has reached an agreement with the Exim Bank of China on key terms and principles for restructuring its debt, a key step toward

With one eye on China, Japan backs Sri Lanka as a partner in the Indo-Pacific

Japan’s Foreign Minister Yoshimasa Hayashi said Saturday that Sri Lanka is a key partner in a Tokyo-led initiative aimed at building security and economic cooperation around the

Crisis-hit Sri Lanka may allow Indian rupee to be used in local transactions

Sri Lanka is considering the possibility of allowing the use of the Indian rupee for local transactions, as the island nation struggles to build its depleted foreign

Bejeweled cannon and other art will head home to Sri Lanka from Netherlands museum

Sri Lanka’s foreign minister said yesterday that his country welcomes the Netherlands’ plan to return hundreds of colonial-era artifacts — including a bejeweled, ceremonial cannon — and

Sri Lanka spares banks in its $ 19.8 billion local debt restructuring plan

Sri Lanka will spare banks from being part of its local debt restructuring plan because of the possible impact on deposits, while the bulk of the

China’s Sinopec signs agreement to enter retail fuel market

Chinese petroleum giant Sinopec signed an agreement with Sri Lanka today to enter the South Asian island country’s retail fuel market as it struggles to

IMF to assess governance as part of $3B bailout

The International Monetary Fund said yesterday it is assessing Sri Lanka’s governance in the first case of an Asian country facing scrutiny for corruption as part

With no immunity, Sri Lanka’s Rajapaksa faces legal troubles

Sri Lanka’s ousted President Gotabaya Rajapaksa, who returned home after seven weeks in exile following protests over economic hardships, could face legal action over forced disappearances of

President says IMF talks nearing successful end

Sri Lanka’s president said yesterday that his bankrupt country’s talks with the International Monetary Fund for a rescue package have successfully reached final stages as he presented

Sri Lanka leader says IMF agreement pushed back after unrest

Sri Lanka’s president said Saturday that an agreement with the International Monetary Fund to help pull the bankrupt nation out of its economic crisis has

Rights groups urge Sri Lanka not to use force on protesters

International human rights groups on Saturday urged Sri Lanka’s new president to immediately order security forces to cease use of force against protesters after troops

Newly elected president sworn into office

Veteran politician Ranil Wickremesinghe was sworn in as Sri Lanka’s new president yesterday to take charge of a nation bitterly angry he will remain in power

New president divisive choice for fixing crisis

Sri Lanka’s prime minister was elected president yesterday by lawmakers who opted for a seasoned, veteran leader to lead the country out of economic collapse, despite widespread

Sri Lanka prime minister, two rivals in presidential race

Sri Lanka’s prime minister and acting president, Ranil Wickremesinghe, will face two rivals in a parliamentary vote today on who will succeed the ousted leader who

Acting president declares emergency amid protests

Sri Lanka’s acting president yesterday declared a state of emergency giving him broad authority amid growing protests demanding his resignation two days before the country’s lawmakers

Sri Lanka begins choosing leader to replace ex-president

Sri Lankan lawmakers met Saturday to begin choosing a new leader to serve the rest of the term abandoned by the president who fled abroad

President flees amid crisis as ire turns toward PM

Sri Lanka’s president fled the country early yesterday, slipping away only hours before he promised to resign under pressure from protesters enraged by a devastating economic crisis.

Opposition meets to install new gov’t amid turmoil

Sri Lanka’s opposition political parties met yesterday to agree on a new government a day after the country’s president and prime minister offered to resign in the

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