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COLOMBO (AFP) – Sri Lanka’s inflation hit a ninth consecutive record in June, official data showed Friday, rising to 54.6 percent a day after the IMF asked the bankrupt nation to rein in galloping prices and corruption. It was the first time the increase in the Colombo Consumer Price Index (CCPI) crossed the psychologically important 50 percent mark, according to the department of census and statistics. The figures came hours after the International Monetary Fund […]
Sri Lanka closed schools and halted all non-essential government services on Monday, beginning a two-week shutdown to conserve fast-depleting fuel reserves as the International Monetary Fund opened talks with Colombo on a possible bailout. The country of 22 million people is in the grip of its worst economic crisis after running out of dollars to finance even the most essential imports, including fuel. On Monday schools were shut and state offices worked with skeleton staff as […]
Cash-strapped Sri Lanka is seeking urgent United Nations help to build a stockpile of essential foods, the prime minister’s office said Friday, after authorities warned of looming starvation. Acute shortages of food, fuel and other essential goods, along with record inflation and rolling blackouts, have inflicted widespread misery in the island nation’s unprecedented economic crisis. Scarce supplies of petrol, diesel and fertiliser have made it difficult for farmers to grow crops, while the agricultural sector […]
by Amal JAYASINGHE and Sean GLEESON Sri Lanka’s new prime minister struggled Friday to forge a unity government and forestall an imminent economic collapse as opposition lawmakers refused to join his cabinet and demanded fresh elections. Ranil Wickremesinghe was sworn in late Thursday to navigate his country through the worst downturn in its history as an independent nation, with months of shortages and blackouts inflaming public anger. The 73-year-old insists he has enough support to govern […]
COLOMBO, Sri Lanka (AFP) — Sri Lanka’s navy and volunteers rescued 120 pilot whales stranded in the country’s biggest mass beaching, but at least two injured animals were found dead, officials said. Sailors from the navy and the coastguard along with local volunteers pushed back at least 120 whales by dawn Tuesday after a gruelling overnight rescue, navy spokesman Indika de Silva said. The school of short-finned pilot whales washed ashore at Panadura, 25 kilometres […]
