Latest Sri Lanka News

Sri Lanka's central bank raises key rates to curb inflation

Jul. 07, 2022 07:15 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka’s Central Bank has raised its key interest rates to their highest levels in more than 20 years to try to contain inflation that has added to the country’s economic woes. Recent price hikes have been a severe blow, especially for the South...

Sri Lankan president calls Russian leader seeking fuel

Jul. 06, 2022 07:38 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka's President Gotabaya Rajapaksa said Wednesday that he had a telephone call with Russian leader Vladimir Putin to request credit support to import fuel for the island nation that is facing its worst economic crisis in memory. “Had a very...

Sri Lanka's crisis rings alarm for other troubled economies

Jul. 06, 2022 00:23 AM EDT

BANGKOK (AP) — Sri Lanka is desperate for help with weathering its worst crisis in recent memory. Its schools are closed for lack of fuel to get kids and teachers to classrooms. Its effort to arrange a bailout from the International Monetary Fund has been hindered by the severity of its financial...

Cricket is a welcome distraction for Sri Lankans in crisis

Jul. 05, 2022 23:27 PM EDT

GALLE, Sri Lanka (AP) — The sport of cricket has become a welcome distraction for Sri Lankans looking for a break from the effects of the economic crisis in the country — long lines to buy fuel and cooking gas and school and work disrupted because there is little access to public transport. ...

Sri Lanka PM says talks with IMF difficult due to bankruptcy

Jul. 05, 2022 03:38 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka’s negotiations with the International Monetary Fund are more complex and difficult than in the past because it is a bankrupt nation, the country’s prime minister said Tuesday. Prime Minister Ranil Wickremesinghe told lawmakers that recent...

With no fuel and no cash, Sri Lanka keeps schools closed

Jul. 03, 2022 20:32 PM EDT

COLOMBO, Sri Lanka (AP) — Cash-strapped Sri Lanka on Sunday extended school closures for one week because there isn't enough fuel for teachers and parents to get children to classrooms, and the energy minister appealed to the country's expatriates to send money home through banks to finance new...

Sri Lanka crisis gives India chance to gain sway vs China

Jun. 30, 2022 01:13 AM EDT

NEW DELHI (AP) — Sri Lanka's strategic location has attracted outsized interest in the small island nation from regional giants China and India for more than a decade, with Beijing and its free-flowing loans and infrastructure investments widely seen as having gained the upper hand in the quest...

Gas lines and scuffles: Sri Lanka faces humanitarian crisis

Jun. 29, 2022 21:08 PM EDT

COLOMBO, Sri Lanka (AP) — Chamila Nilanthi is tired of all the waiting. The 47-year-old mother of two spent three days lining up to get kerosene in the Sri Lankan town of Gampaha, northeast of the capital Colombo. Two weeks earlier, she spent three days in a queue for cooking gas — but came...

Over 500 inmates escape from Sri Lanka drug treatment center

Jun. 29, 2022 07:33 AM EDT

COLOMBO, Sri Lanka (AP) — More than 500 inmates escaped from a heavily guarded drug rehabilitation center in northern Sri Lanka on Wednesday after a suspicious death led to an outbreak of violence, police said. The Kandakadu rehabilitation center, about 250 kilometers (150 miles)...

Sri Lanka sends 2 ministers to Russia for oil amid crisis

Jun. 27, 2022 11:48 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka is sending two government ministers to Russia to negotiate for fuel — one of the necessities nearly exhausted as a result of the Indian Ocean nation's economic collapse. The plan comes as Washington and its allies aim to cut off energy imports...