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India overtakes China to become top lender to debt-laden Sri Lanka
India has surpassed China to become the top lender to Sri Lanka, as the former came to the rescue when Sri Lanka started experiencing some acute shortage of foreign currency from the beginning of the year which reached a breaking point in March causing a complete collapse of the country’s economy.
Disinformation on bribe request for BIA expansion project exposed
Details of a disinformation campaign to discredit the government by making allegations of asking a bribe from a Japanese company engaged in the construction work of the Bandaranaike International Airport (BIA) expansion project have been exposed.
SL economy to contract more than 6% with IMF loan stalled
Governor of the Central Bank Dr. Nandalal Weerasinghe says that Sri Lanka’s economy is likely to contract more than 6% in 2022.
IMF bail out turns bleak in political turmoil and confidential file grab
Sri Lanka’s prospects of receiving the International Monetary (IMF) bail out package to avert the economic crisis became bleak with the intensifying of political instability and failure to reach a consensus on forming an all party government.
Will Indian Rupee replace Sri Lankan Rupee?
The Reserve Bank of India on 11 July, asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency, reported PTI.