Sri Lanka has recorded its first instance of deflation in 29 years. The Colombo consumer price index shows a decline of 0.5 per cent in September 2024. This marks a significant shift, as inflation stood at 0.

Deflation returns to Sri Lanka after 29 years: Boon or Bane?

Sri Lankans vote in a presidential election that will chart the country's future in recovery from its worst economic crisis and subsequent political turmoil. The election, with 38 candidates, effectively presents a three-way showdown between incumbent liberal President Ranil Wickremesinghe, legislator Anura Kumara Dissanayake, and opposition leader Sajith Premadasa.

Sri Lanka polls: Presidential election pivotal to economic recovery

Sri lankan economy has expanded for the first time since the end of 2021. Government data suggests that the economy grew by 1.6% in the quarter ending in september. That was largely due to moderating inflation, a strengthening currency & lower interest rates.

Economy expands for the first time since 2021| World Business Watch

Cash-trapped Sri Lanka has cut lending rates for the first time in nearly three years, the island nation which faced economic downturn last year, has cut its lending rates after massive fall in inflation in May. The central bank of Sri Lanka has reduced its lending rates by 2.5% points.

Sri Lanka economy in recovery mode: Sri Lanka cuts interest rates, inflation eases

There is hope for Sri Lanka, with its creditors sitting across the table to help find a way to mitigate the financial woes of the South Asian country. However, there are lingering doubts over China's presence at the meeting as Beijing is the largest creditor.

Sri Lanka's financial woes: Fresh hope for the Lankan economy | WION Dispatch

Signs of revival and hope for the Sri Lanka economy as the International Monetary Fund clears $2.9 billion aid for the straggling economy. But can this 17th round of IMF aid bring about the end to economic troubles faced by Sri Lanka's people? The country continues to struggle between imposing intense austerity measures to revive the economy on one hand... and daily struggles faced by the common man on the other.

IMF clears $2.9 billion aid for Sri Lanka | Inside South Asia

Cash-strapped Sri Lanka began a fresh austerity drive as the country aims to reduce its expenses and secure the IMF bailout. Now Colombo has temporarily frozen all government recruitments as new taxes and high electricity prices kicked in this week.

Sri Lanka works towards securing IMF bailout, freezes recruitment in fresh austerity drive

Sri Lanka's former president Gotabaya Rajapaksa, who was ousted from power following months of mass protests, left for the United States with his family, a journalist with Sri Lanka's Daily Mirror wrote on Twitter.

Sri Lanka's ousted leader Gotabaya Rajapaksa leaves for the US with family

Sri Lankan President Ranil Wickremesinghe will present his first budget in Parliament later today as the country reels under its worst financial crisis since its independence.

Sri Lanka's reform-oriented 2023 budget to be presented today

Sri Lankan President Ranil Wickremesinghe to present 2023 budget today

Sri Lanka's envoy to China Palitha Kohona negotiated for an emergency $4 billion aid package to help the island nation to emerge from an economic meltdown.

Sri Lanka is in talks with China for $4 billion aid package to revive its economy

Sri Lankan Prime Minister Ranil Wickremesinghe took over additional responsibility as he was sworn in as the country's new Minister of Finance, Economic Stability & National Policies. .

Sri Lanka Crisis: PM Ranil Wickremesinghe takes additional charge, sworn in as new Finance Minister

Customers were turned away at gas stations after Sri Lanka ran out of money to purchase fuel. The new Prime Minister has proposed three bitter pills to revive the Lankan economy. Palki Sharma tells you more.

Gravitas: Sri Lanka runs out of money to buy fuel

With Sri Lanka rocked by economic and political crisis, India has made it clear that its policy with Colombo is "guided" by the "best interest of people of Sri Lanka expressed through democratic processes".

Sri Lanka crisis: India says 'guided' by 'best interest' of the people; backs democratic processes

Amid an unprecedented economic crisis in the country, Sri Lankan President Gotabaya Rajapaksa on Wednesday (April 27) said that he is willing to form an all-party government that can be formed after the Prime Minister and Cabinet resigns.

Sri Lankan President Gotabaya Rajapaksa willing to form an all-party government amid economic crisis

The situation in Sri Lanka is getting worse by the day and the impact can clearly be seen on the country’s share market. Trading was halted for the second time this month on Monday after the Sri Lanka share market saw a massive fall of around 12.

Sri Lanka stock market halts trading after 12.6 per cent fall amidst economic crisis

The inevitable has happened, and the Sri Lankan government has declared bankruptcy. It makes one wonder if other nations might have undergone bankruptcy in the past?

Did you know this country was once bankrupt?

In Sri Lanka, a new financial and economic team for multilateral affairs and debt sustainability in the country has been appointed by the government on Wednesday (April 6).

Sri Lanka appoints advisory committee of economic and fiscal experts to tackle debt crisis

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's ruling SLPP party holds a massive rally ahead of local polls amid public ire over inflation and organic fertiliser policy. The government has announced nearly $1.3 billion relief package even as the country struggles with economic woes. W. A. Wijewardena, Former Deputy Governor of Sri Lanka Central Bank decodes country's situation.

Focusing only on debt repayment is insufficient, says Wijewardena, Former Deputy Governor of SLCB

According to reports, the Sri Lankan government has made it mandatory for citizens to obtain "security clearance" if a person intends to marry a foreigner. The guideline has reportedly been issued after instructions from Sri Lanka's defence ministry.

Foreigners marrying Lankan nationals need clearance from defence ministry; opposition slams move

Sri Lanka to opt for an international monetary fund bailout or not, that is a big question in Sri Lanka right now. Sri Lanka's cabinet of ministers is now trying to meet further to explore the IMF option as a country reels under a massive financial crisis.

Sri Lanka's inflation hit a record 11.1% in November

Despite global crude oil prices plunging due to concerns over the new Omicron strain, the Sri Lankan government announced that it will be hiking up fuel prices once again.

Sri Lanka hikes fuel prices again amid depleting foreign reserves

Recession-hit Sri Lanka appealed Tuesday for international investors to roll over bonds maturing this year, a further indication of the island nation's dire financial situation.

Sri Lanka pleads for debt rollover as economy falters

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