The Latest Breaking News from Sri Lanka

Sri Lanka seeks to secure around $5 billion in funding this year to cover repayments for fuel imports and other items bought through credit lines, and another $1 billion to bolster its foreign reserves, the prime minister's office said on Thursday.

Telangana going the way of Sri Lanka with economic crisis

Follow all the action from Sher-e-Bangla National Cricket Stadium

Colombo (AFP) - Cash-strapped Sri Lanka on Tuesday announced steep, across-the-board tax hikes to shore up revenue as the country suffers its worst economic downturn and seeks an IMF bailout.

With the economy in crisis and facing shortage of Forex, the Indian support has provided a lifeline to Sri Lanka

Sri Lanka wants farmers to plant more rice as part of plans to avert a severe food shortage, a top official said on Tuesday, as experts warned of a 50% drop in production that would worsen the impact of its already-severe financial crisis.

Sri Lanka is facing one of the worst economic crises in recent decades, triggering public anger and mass protests, which have fostered unity across ethnic and religious lines.

Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries like war-ravaged Ukraine and Sri Lanka.

Economic crisis is becoming health crisis as the country is unable to afford to import essential supplies