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Heavily reliant on worker remittances from West Asia for its economic recovery, Sri Lanka has expressed “grave concern” over the escalating conflict in the region. Migrant workers sent a record $8 billion in remittances last year, boosting foreign reserves and helping recovery from the country’s 2022 economic crash. A total of 3,10,915 Sri Lankans left…
India’s fans gather outside the R. Premadasa Stadium during a practice session ahead of the ICC Men’s T20 World Cup 2026 match between India and Pakistan, in Colombo, Sri Lanka, Saturday, Feb. 14, 2026. | Photo Credit: PTI Rehan Fernando is excited during a 20-minute drive to the Premadasa— not precisely by the thoughts of…
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Despite strong recent growth, low inflation, and robust external inflows, food prices remain high, and reserve accumulation has slowed in Sri Lanka. File. | Photo Credit: Reuters Sri Lanka’s recent economic performance has been strong, but the recovery remains incomplete, the World Bank said on Tuesday (October 7, 2025). “With growth still below pre-crisis levels…
An unprecedented financial crash in 2022 brought months of consumer goods shortages, with inflation peaking at nearly 70% that year. File | Photo Credit: Reuters Sri Lanka’s consumer prices fell by 2.1% in November, the highest deflation rate recorded by the economically fragile island nation since 1961, official data showed Saturday (November 30, 2024). An…
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Colombo: Cash-strapped Sri Lanka’s economy recorded falling consumer prices for the first time in 29 years, official data showed Monday, with the September inflation figure dipping to negative 0.5 per cent. Census and Statistics Department data showed price drops in both food and non-food goods contributing to deflation in September, compared to inflation of 0.5…
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A police officer stands guard outside a polling booth, a day before the presidential election, in Colombo on September 20, 2024. | Photo Credit: Reuters Over 17 million Sri Lankans will have a chance to elect their next President on Saturday (September 21, 2024) in a crucial election, the first to be held after the…
Read More “Sri Lanka to choose President in crucial contest on September 21, 2024” »
Sri Lanka’s northern Tamil voters are torn this presidential election, between a candidate who may win, and one who will certainly lose. While some are backing one of the frontrunners among the Sinhalese candidates, others have decided to support a Tamil candidate. Every voter knows well that “Tamil common candidate” P. Ariyanethiran — fielded jointly…
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COLOMBO: Fixing Sri Lanka’s battered economy and wiping out racism will be top priority for a National People’s Power (NPP) government, Anura Kumara Dissanayake, among the frontrunners in the September 21 race, said on Tuesday. He spoke to The Hindu amid a hectic campaign at the headquarters of the Janatha Vimukthi Peramuna (JVP), a…
The Central Bank of Sri Lanka has cut key rates to aid growth. File | Photo Credit: Reuters Sri Lanka’s central bank cut interest rates by 25 basis points in a surprise decision on July 24 to support economic growth and propel the South Asian nation out of its worst financial crisis in decades. The…
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Prime Minister Narendra Modi with Sri Lankan President Ranil Wickramasinghe during their meeting at the Hyderabad house in New Delhi on July 21, 2023. | Photo Credit: R.V. Moorthy Sri Lanka is looking to accelerate greater economic cooperation with India with the tourism sector taking the lead, the island nation’s President Ranil Wickremesinghe said on…