A group of protesters tried to storm Sri Lankan President Gotabaya Rajapaksa's private residence. The angry crowd wanted the President to quit. Will a sinking economy spell the end of the Rajapaksas? Palki Sharma tells you.

Gravitas: Angry Sri Lankans want Rajapaksa to quit

Sri Lanka has been put under the state of national curfew as massive protests over economic failures continues in the country.

National Curfew declared in Sri Lanka as protests over economic failure continues

Sri Lanka is in the biggest economic crisis leading to violent protests in the country and angry protestors demanding the resignation of President Rajapaksa.

Sri Lanka's economic crisis explodes- public emergency declared

Sri Lanka is facing a severe economic crisis, and the citizens are taking to the streets demanding to oust President Rajapaksa. Watch this report to know more.

Sri Lanka declares public emergency: Violent protests over economic crisis

Protesters tried to storm the house of Sri Lankan President Gotabaya Rajapaksa in the capital over the government's handling of the worst economic crisis, demanding the president's resignation.

Sri Lanka Economic Crisis: Hundreds try to storm President Gotabaya's home, demands resignation

In Sri Lanka, protesters are demanding Sri Lankan President Gotabaya Rajapaksa's resignation amid economic crisis. To get more details, watch this exclusive ground report by Dasuni on Sri Lanka's current scenario.

Sri Lanka: Demand grows for President Gotabaya Rajapaksa's resignation

Sri Lanka is facing severe economic crisis, and recently Buddhist monks visit Rajapaksa and urged temple, churches to help. Several Buddhist prelates have also urged a national policy.

Sri Lanka economic crisis: Buddhist monks call for relief for the people

In Sri Lanka, people are facing a severe economic crisis and recently protesters have tried to storm Sri Lankan President Rajapaksa's home. Watch this exclusive ground report by Dasuni on Sri Lanka's current scenario.

Violent protests over economic crisis: Protesters set fire to an army bus

In Sri Lanka, at least 45 people from the group of protesters have been arrested after riots. President Gotabaya Rajapaksa's office released a statement identifying organized extremist groups behind the protests. Watch this report by Dasuni from Colombo.

Anti-government unrest in Sri Lanka: Lankan authorities arrest 45 people after riots

A delegation of Buddhist monks have arrived at president's house to hold a meeting with Gotabaya Rajapaksa and to discuss the ongoing economic crisis. The aim here is to help arrive at a solution to resolve the situation, this after citizens held protests in Sri Lanka's capital.

Sri Lanka president and monks hold key meeting to discuss economic crisis

External Affairs Minister S Jaishankar met Sri Lanka's Finance Minister Basil Rajapaksa on Monday. Jaishankar is there for 5th BIMSTEC summit, where foreign ministers of all seven nations are present and the summit will conclude on Wednesday.

External Affairs Minister S Jaishankar holds important bilateral talks in Sri Lanka

Sri Lanka is facing its biggest economic crisis since its independence. The crisis has only gone from bad to worse. People are facing huge shortage of essentials and forex reserves fell by over 70%.

Sri Lanka faces huge shortage of essentials, forex reserves down by over 70%

For decades, groups of Sri Lankan Tamils have flocked to Tamil Nadu to escape the island's wars and violence.

However, the 16 Sri Lankan Tamils that came in two batches on the Rameswaram coast on March 22 were not the same.&nbsp;

They were economic migrants attempting to flee a dreadful situation in Sri Lanka, which is wracked by a severe economic crisis.

As unemployment and spiralling inflation drive more and more people to desperation in the coming days and weeks, Indian intelligence agencies anticipate the number of refugees will only rise.&nbsp;

Due to the economic crisis in Sri Lanka, critical goods such as milk, food, gasoline, and diesel are in short supply.

As a result, the number of Sri Lankan refugees in Tamil Nadu is anticipated to rise day by day.

On March 22, six Sri Lankan Tamils and a newborn arrived in Dhanushkodi from Mannar, Sri Lanka.

Ten additional migrants from Sri Lanka's Vavuniya landed in Tamil Nadu at the end of March 22 after being rescued by the Indian Coast Guard and supplied with safety and food.&nbsp;

Tamil Nadu's people and political parties have a long history of embracing Sri Lankan immigrants with comparable ethnic and cultural backgrounds.

In the 1970s and 1980s, India trained and armed Tamil insurgents, and the sea crossing posed no significant threat to illegal Sri Lankan immigration.

After Rajiv Gandhi was assassinated by the LTTE in 1991, the situation altered dramatically.&nbsp;

According to police sources, security along the coastline has been ramped up as more refugees are expected to arrive in Tamil Nadu in the coming days as a result of the situation.

A special caution has also been issued to fishermen, instructing them to quickly notify coast guards if they see any illegal migrants moving in the Bay of Bengal.&nbsp;

(With inputs from agencies)

For decades, groups of Sri Lankan Tamils have flocked to Tamil Nadu to escape the island's wars and violence. However, the 16 Sri Lankan Tamils that came in two batches on the Rameswaram coast on March 22 were not the same.

For decades, groups of Sri Lankan Tamils have flocked to Tamil Nadu to escape the island's wars and violence. However, the 16 Sri Lankan Tamils that came in two batches on the Rameswaram coast on March 22 were not the same. They were economic migrants attempting to flee a dreadful situation in Sri Lanka, which is wracked by a severe economic crisis. As unemployment and spiralling inflation drive more and more people to desperation in the coming days and weeks, Indian intelligence agencies anticipate the number of refugees will only rise. Due to the economic crisis in Sri Lanka, critical goods such as milk, food, gasoline, and diesel are in short supply. As a result, the number of Sri Lankan refugees in Tamil Nadu is anticipated to rise day by day. On March 22, six Sri Lankan Tamils and a newborn arrived in Dhanushkodi from Mannar, Sri Lanka. Ten additional migrants from Sri Lanka's Vavuniya landed in Tamil Nadu at the end of March 22 after being rescued by the Indian Coast Guard and supplied with safety and food. Tamil Nadu's people and political parties have a long history of embracing Sri Lankan immigrants with comparable ethnic and cultural backgrounds. In the 1970s and 1980s, India trained and armed Tamil insurgents, and the sea crossing posed no significant threat to illegal Sri Lankan immigration. After Rajiv Gandhi was assassinated by the LTTE in 1991, the situation altered dramatically. According to police sources, security along the coastline has been ramped up as more refugees are expected to arrive in Tamil Nadu in the coming days as a result of the situation. A special caution has also been issued to fishermen, instructing them to quickly notify coast guards if they see any illegal migrants moving in the Bay of Bengal. (With inputs from agencies)

As a result of the economic crisis 16 Sri Lankan Tamils arrive in India

Sri Lanka is facing mounting challenges with its public debt. Critics say a series of missteps - mainly by the Rajapaksas - triggered the worst economic crisis in Sri Lanka's history. Palki Sharma tells you how.

Gravitas: What caused Sri Lanka's economic crisis?

Sri Lanka is currently facing its worst-ever economic crisis since its independence. As per reports, acute shortage of essential items have lead to protests and clashes in Colombo.

Economic crisis deepens in Sri Lanka, protests rock Colombo over Inflation

Sri Lanka is currently facing its worst-ever economic crisis since its independence. As per reports, acute shortage of essential items have lead to protests and clashes.

Inflation continues to skyrocket in Sri Lanka, seeks aid from India and China

The economic crisis in Sri Lanka has triggered an exodus. 6 Sri Lankans were caught entering Indian territory. People in Sri Lanka are blaming the Rajapaksas for the severe economic crisis. Palki Sharma tells you why.

Gravitas: Sri Lanka's economic crisis triggers exodus

Sri Lanka is facing its biggest economic crisis since its independence after months of economic hardship, the crisis has only gone from bad to worse. Power cuts are common, fuel is too expensive and ration lines are getting longer.

Sri Lanka's growing economic crisis; no exam papers and shuttered embassies

Officials in Sri Lanka stated on Sunday that two 70-year-old men died while waiting in serpentine lines outside gas stations.

While dealing with a historic foreign reserve crisis, Sri Lanka is suffering from a severe fuel scarcity.

The two septuagenarians died on Saturday in Kandy and Colombo Suburb, according to Colombo police.

Both of the deceased had waited in line for nearly six hours.

The deaths are thought to have been caused by acute exhaustion brought on by the scorching heat.

According to officials, the government is relying on Indian petroleum to alleviate the current shortage.&nbsp;

Chairman of State-owned Ceylon Petroleum Corporation (CPC) Sumith Wijesinghe said, "From the Indian credit line, we get all the finished products, such as petrol, diesel and jet fuel."

"We have received jet fuel on 13th and 14th (of this month). We have received another diesel ship which will start unloading tomorrow," he said, pointing out that the public seemed to stockpile fuel in view of the shortage.

Sri Lankans have been queuing at petrol stations for weeks, sometimes for hours, as the country grapples with the greatest economic crisis in its independent history, with a dearth of foreign money limiting the supply of crucial items.&nbsp;

(With inputs from agencies)

Officials in Sri Lanka stated on Sunday that two 70-year-old men died while waiting in serpentine lines outside gas stations. While dealing with a historic foreign reserve crisis, Sri Lanka is suffering from a severe fuel scarcity.

Officials in Sri Lanka stated on Sunday that two 70-year-old men died while waiting in serpentine lines outside gas stations. While dealing with a historic foreign reserve crisis, Sri Lanka is suffering from a severe fuel scarcity. The two septuagenarians died on Saturday in Kandy and Colombo Suburb, according to Colombo police. Both of the deceased had waited in line for nearly six hours. The deaths are thought to have been caused by acute exhaustion brought on by the scorching heat. According to officials, the government is relying on Indian petroleum to alleviate the current shortage. Chairman of State-owned Ceylon Petroleum Corporation (CPC) Sumith Wijesinghe said, "From the Indian credit line, we get all the finished products, such as petrol, diesel and jet fuel." "We have received jet fuel on 13th and 14th (of this month). We have received another diesel ship which will start unloading tomorrow," he said, pointing out that the public seemed to stockpile fuel in view of the shortage. Sri Lankans have been queuing at petrol stations for weeks, sometimes for hours, as the country grapples with the greatest economic crisis in its independent history, with a dearth of foreign money limiting the supply of crucial items. (With inputs from agencies)

Cash-strapped Sri Lanka: Two 70-year-olds die waiting in queue for fuel

Sri Lanka will seek International Monetary Fund (IMF) bailout, said President Gotabaya Rajapaksa. The country is facing forex shortages for basic imports as printed money has pushed up domestic demand and made it difficult to repay debt.

Cash-strapped Sri Lanka seeks IMF bailout

People in Sri Lanka woke up to unprecedented rise in the price of petrol and diesel pushing the country into a deeper economic crisis. Lanka IOC, the Indian oil cooperation unit in Sri Lanka has increased the price of petrol.

Sri Lanka's deepening economic crisis: Fuel prices touch record high

Due to a severe shortage in oil, gas, medicines, and food items because of a shortage of forex, Sri Lanka was under huge economic crisis, however, India's timely help rescued the emerald island.

According to reliable sources, India in the last six months has provided assistance on several fronts to its tiny neighbour to tide over its economic crisis.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/sri-lanka-sacks-energy-minister-amid-economic-crisis-458669">Sri Lanka sacks energy minister amid economic crisis</a>

Assistance from India in the last six months have come in the form of; a USD 500 million oil line of credit; USD 1 billion lines of credit for essentials to be imported from India under negotiation; Currency swap of USD 400 million; Deferral of USD 515 million under Asian Clearance Union; 40,000 MT of fuel on credit; 100,000 Rapid Antigen Test kits and supply of 1,000 tons of liquid medical oxygen, reported Daily FT.

India is expected to extend a food and health security package to Sri Lanka on an urgent basis, along with an energy security package and currency swap, and also push Indian investments.

The food and health security package would envisage the extension of a line of credit to cover the import of food, medicines and other essential items from India.

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It is said the energy package would also comprise a line of credit to cover the import of fuel from India and an early modernization of the Trincomalee Oil Tank Farm.

The disaster was partly manmade due to as pointed out by ex CBSL Deputy Governor Dr Wijewardana that "the Government made serious policy errors when it announced an unsolicited, attractive tax concession to income taxpayers. The consequence of this extraordinary money growth was the building up of inflationary pressure in the domestic economy on one side, and the depletion of foreign reserves putting pressure on the rupee to depreciate in the market, on the other," reported Daily FT.

The rest of the crisis was due to the massive drop in tourism-related earnings in 20/21, heavy debt repayments and an increase in pandemic-related expenses.

The result of all this was that 500,000 people according to the World Bank have fallen below the poverty line, whilst food inflation hit 21 per cent.

Watch |&nbsp;Sri Lanka faces economic crisis, India ready to make investment in island-nation

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Moreover, oil-dependent Sri Lanka's problems got further aggravated with oil prices surging despite new measures by the US and EU aimed at calming markets troubled by the invasion of Ukraine.

According to published data, Lanka's oil bill in 2021 had increased by 50 per cent, compared with the last year, reported Daily FT.

The Indian assistance at this time, is timely and impactful on several fronts. Sri Lanka would certainly need more assistance from them to ride over 2022.

Due to a severe shortage in oil, gas, medicines, and food items because of a shortage of forex, Sri Lanka was under huge economic crisis, however, India's timely help rescued the emerald island.

Due to a severe shortage in oil, gas, medicines, and food items because of a shortage of forex, Sri Lanka was under huge economic crisis, however, India's timely help rescued the emerald island. According to reliable sources, India in the last six months has provided assistance on several fronts to its tiny neighbour to tide over its economic crisis. Also read | Sri Lanka sacks energy minister amid economic crisis Assistance from India in the last six months have come in the form of; a USD 500 million oil line of credit; USD 1 billion lines of credit for essentials to be imported from India under negotiation; Currency swap of USD 400 million; Deferral of USD 515 million under Asian Clearance Union; 40,000 MT of fuel on credit; 100,000 Rapid Antigen Test kits and supply of 1,000 tons of liquid medical oxygen, reported Daily FT. India is expected to extend a food and health security package to Sri Lanka on an urgent basis, along with an energy security package and currency swap, and also push Indian investments. The food and health security package would envisage the extension of a line of credit to cover the import of food, medicines and other essential items from India. Also read | Russia-Ukraine conflict: Another Indian student shot in Kyiv, hospitalised It is said the energy package would also comprise a line of credit to cover the import of fuel from India and an early modernization of the Trincomalee Oil Tank Farm. The disaster was partly manmade due to as pointed out by ex CBSL Deputy Governor Dr Wijewardana that "the Government made serious policy errors when it announced an unsolicited, attractive tax concession to income taxpayers. The consequence of this extraordinary money growth was the building up of inflationary pressure in the domestic economy on one side, and the depletion of foreign reserves putting pressure on the rupee to depreciate in the market, on the other," reported Daily FT. The rest of the crisis was due to the massive drop in tourism-related earnings in 20/21, heavy debt repayments and an increase in pandemic-related expenses. The result of all this was that 500,000 people according to the World Bank have fallen below the poverty line, whilst food inflation hit 21 per cent. Watch | Sri Lanka faces economic crisis, India ready to make investment in island-nation Moreover, oil-dependent Sri Lanka's problems got further aggravated with oil prices surging despite new measures by the US and EU aimed at calming markets troubled by the invasion of Ukraine. According to published data, Lanka's oil bill in 2021 had increased by 50 per cent, compared with the last year, reported Daily FT. The Indian assistance at this time, is timely and impactful on several fronts. Sri Lanka would certainly need more assistance from them to ride over 2022.

Timely help from India rescues Sri Lanka from economic crisis

Sri&nbsp;Lanka's central bank hiked interest&nbsp;rates&nbsp;by one percentage point on Friday and urged the government to increase taxes as the country skirts economic collapse.

The troubled South Asian island nation is in the grip of a severe foreign exchange crisis that has led to acute shortages of food, fuel, medicines and industrial raw materials, sending inflation soaring.

Food inflation hit a record 25 per cent in January while overall price increases reached 16.8 per cent, a fourth consecutive monthly record.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/sri-lanka-sacks-energy-minister-amid-economic-crisis-458669">Sri Lanka sacks energy minister amid economic crisis</a>

Public transport has been crippled since Wednesday with no diesel for buses and large parts of the country of 21 million people hit by lengthy power cuts.

On Thursday, President Gotabaya Rajapaksa sacked the energy and industry ministers after they both criticised the government's efforts to deal with the crisis.

Another senior minister Vasudeva Nanayakkara expressed solidarity Friday with the sacked ministers and said he would not attend cabinet meetings.

The Central Bank of&nbsp;Sri&nbsp;Lanka&nbsp;hiked the benchmark deposit and lending&nbsp;rates&nbsp;by 100 basis points each to 6.5 per cent and 7.5 per cent respectively.

The move follows a January decision to lift borrowing costs by 50 basis points.

The increases "will dampen the possible build-up of underlying demand pressures on the economy, which would, in turn, help ease pressures in the external sector", the bank said in a statement.

It also urged the government to increase fuel prices and electricity tariffs immediately as well as raise taxes to shore up government revenue. That came after a similar call by the International Monetary Fund.

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The bank also appealed to officials to suspend ongoing infrastructure projects, sell state-owned land and discourage "non-essential" imports.

A broad import ban has been in place since March 2020 to shore up foreign reserves after the pandemic knocked out the lucrative tourism sector which previously earned about $4.5 billion annually.

In a statement following its annual review of&nbsp;Sri&nbsp;Lanka's economy, the IMF on Thursday warned the country that its foreign debt was "unsustainable" and called for urgent action.

Official data shows&nbsp;Sri&nbsp;Lanka&nbsp;needs nearly $7 billion to service its foreign debt this year, but the country's external reserves at the end of January were only $2.07 billion -- just enough to finance one month's imports.

Sri Lanka's central bank hiked interest rates by one percentage point on Friday and urged the government to increase taxes as the country skirts economic collapse.

Sri Lanka's central bank hiked interest rates by one percentage point on Friday and urged the government to increase taxes as the country skirts economic collapse. The troubled South Asian island nation is in the grip of a severe foreign exchange crisis that has led to acute shortages of food, fuel, medicines and industrial raw materials, sending inflation soaring. Food inflation hit a record 25 per cent in January while overall price increases reached 16.8 per cent, a fourth consecutive monthly record. Also read | Sri Lanka sacks energy minister amid economic crisis Public transport has been crippled since Wednesday with no diesel for buses and large parts of the country of 21 million people hit by lengthy power cuts. On Thursday, President Gotabaya Rajapaksa sacked the energy and industry ministers after they both criticised the government's efforts to deal with the crisis. Another senior minister Vasudeva Nanayakkara expressed solidarity Friday with the sacked ministers and said he would not attend cabinet meetings. The Central Bank of Sri Lanka hiked the benchmark deposit and lending rates by 100 basis points each to 6.5 per cent and 7.5 per cent respectively. The move follows a January decision to lift borrowing costs by 50 basis points. The increases "will dampen the possible build-up of underlying demand pressures on the economy, which would, in turn, help ease pressures in the external sector", the bank said in a statement. It also urged the government to increase fuel prices and electricity tariffs immediately as well as raise taxes to shore up government revenue. That came after a similar call by the International Monetary Fund. Also read | IAF to take part in Sri Lanka Air Force anniversary celebrations The bank also appealed to officials to suspend ongoing infrastructure projects, sell state-owned land and discourage "non-essential" imports. A broad import ban has been in place since March 2020 to shore up foreign reserves after the pandemic knocked out the lucrative tourism sector which previously earned about $4.5 billion annually. In a statement following its annual review of Sri Lanka's economy, the IMF on Thursday warned the country that its foreign debt was "unsustainable" and called for urgent action. Official data shows Sri Lanka needs nearly $7 billion to service its foreign debt this year, but the country's external reserves at the end of January were only $2.07 billion -- just enough to finance one month's imports.

Sri Lankan central bank hikes interest rates by 1% as economy risks collapse

Russia's economy is in crisis as sanctions begin to bite. The Ruble is now worth less than 1 US Cent. The Moscow Stock Exchange has been shut for 2 days. S&P has cut Russia to 'junk status' JP Morgan says, Russia could soon enter a recession. Palki Sharma reports.

Gravitas: Russia's Economy is in crisis: Here's why

Sri Lanka's financial crisis is only getting worse with each passing day and now India has offered help to the debt-laden country in overcoming the crisis. Sri Lanka is battling economic crisis prompted by a shortage of foreign exchange reserves and surging inflation.

Sri Lanka faces economic crisis, India ready to make investment in island-nation

Pakistan's Prime Minister Imran Khan is now patching his own back. He rolled out rewards for his ministers, at a time when the country is neck-deep in debt.

Pakistan PM Imran Khan rewards Ministers amid economic crisis

President Erdogan sacks chief statistician as Turkey's economic crisis worsens. Erdogan has been receiving flak for currency Lira's free fall.

Erdogan sacks chief statistician as Turkey's economic crisis worsens

There's no end to Lebanon's economic crisis in sight. In a bid to support the country, the United States has planned additional military aid.

Lebanon's economic crisis: US plans additional military aid of $67 million

Sri Lanka continues to plunge deeper into financial crisis as inflation rises to record level. Country's former Prime Minister Ranil Wickremesinghe speaks to WION about the worsening crisis.

Ruling govt's decision to reduce VAT escalated crisis, says Ranil Wickremesinghe

Sri Lankan PM's visit to Dubai has been cancelled due to growing economic crisis in the country. Dwindling foreign reserves has put pressure on the monetary system.

Sri Lanka shuts down 3 foreign missions due to looming economic crisis

The world's economic output will exceed $100 trillion for the first time in the year 2022. A London based think tank CEBR has predicted China will become world's top economy in dollar terms by the year 2030.

The world's economic output will exceed $100 Trillion dollars in the year 2022

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