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COLOMBO (Reuters) -Marxist-leaning Anura Kumara Dissanayake and opposition leader Sajith Premadasa headed to a run-off for Sri Lanka's presidency on Sunday, the election body said, with a second ...
COLOMBO (Reuters) -Sri Lanka's leftist leader Anura Kumara Dissanayake took office as president on Monday, promising change in the island nation long led by powerful political families which is ...
A four-year, $2.9 billion IMF bailout, secured in March 2023, has helped Sri Lanka boost reserves, stem a fall in its currency and tame runaway inflation. It also set the groundwork for debt ...
Sri Lankan rupee. The Sri Lankan Rupee (Sinhala: රුපියල්, Tamil: ரூபாய்; symbol: රු (plural) in English, රු in Sinhala, ௹ in Tamil; ISO code: LKR) is the currency of Sri Lanka. It is subdivided into 100 cents (Sinhala: සත, Tamil: சதம்), but cents are rarely seen in circulation due to its low value ...
The Sri Lankan economic crisis[8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
September 20, 2024 at 1:19 AM. By Sudipto Ganguly. COLOMBO (Reuters) - Sajith Premadasa, the leader of Sri Lanka's main opposition party, is a frontrunner in Saturday's presidential election and a ...
Sri Lanka has seen external instability from around late 2014 suffering two currency crises and low growth with the rupee falling from 131 to 182 to the US dollar by 2018. [6] Foreign debt rose from 30% of gross domestic product in 2014 to 41.3% in 2019 while total debt went up from 76% to 86% as growth slowed amid [ 7 ] Sovereign bond ...
COLOMBO (Reuters) -Sri Lankan President Ranil Wickremesinghe failed on Monday to secure the backing of the biggest political party in parliament for his re-election bid, posing a major challenge ...