Tag: Economic Crisis

Two former Sri Lanka skippers and renowned cricketers Roshan Mahanama and Kumar Sangakkara expressed their solidarity to the people’s struggle against the inefficient regime led by President Gotabaya Rajapaksa.

The crisis-ridden Government is to allow international oil companies to operate fuel import and distribution in Sri Lanka ending the oligopoly of Ceylon Petroleum Corporation (CPC) and Lanka Indian Oil Company, a senior energy ministry official said.

Sri Lanka is running out of time in commencing debt restructuring process with the delay in granting government approval to cabinet approved financial and legal advisers Lazard and Clifford Chance for the difficult task of renegotiating its debt of US$51 billion as the Attorney General’s Department is still to clear legal documents pertaining to the appointment, finance ministry sources said.

Conservative Member of the Parliament of the United Kingdom, Eliot Colburn urged the UK Government ensure that any IMF bail-out is attached to human rights conditions, similar to that of GSP+.

As Sri Lanka grapples with a massive economic crisis , India yesterday (June 24) delivered a humanitarian consignment containing 15,000 metric tons of essential items including rice, milk powder and pharmaceuticals to Sri Lanka.