UK PM Truss had already announced a cap on household energy bills which means average costs for heating and electricity will be no more than 2,500 pounds ($2,872) a year, far less than has been forecast.
Sri Lanka economic crisis: Last year, the government of former president Gotabaya Rajapaksa put a blanket ban on imports of chemical fertilizers, pesticides, and herbicides, to encourage organic farming.
IMF staff and the Sri Lankan authorities have reached a staff-level agreement to support Sri Lanka’s economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of about 2.9 billion US dollars.
Sri Lanka economic crisis: In its latest assessment, the World Bank has said that Sri Lanka has been ranked 5th with the highest food price inflation in the world.
In a special notification issued by the Sri Lankan finance ministry, the ban was imposed on a total of 300 items including chocolates, perfumes, makeup, and shampoo among several other products.
Sri Lanka Crisis: Ranil Wickremesinghe said that over 6 million of the 21 million population of the country are malnourished. More and more are unemployed.
Protestors claimed that the area was designated as an agitation site by the previous government of former President Gotabaya Rajapaksa, so there was no need to quit the protest site.
Sri Lanka crisis: Wickremesinghe urged all political parties to come together to take the country out of the economic mess and repay the debt.
Sri Lanka crisis: He further said that there is no point in blaming former president Gotabaya Rajapaksa for the economic crisis but rather urged all political parties to come together to take the country out of the economic mess and repay the debt.
The island nation of 22 million is in the midst of an unprecedented economic crisis that has led to severe shortages of fuel and other essentials. “Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka,” it said in a statement.
Sri Lanka crisis: The presidential secretariat which was occupied by the protesters from July 9 till Friday last is re-opened and the staff reported to work on Monday, officials said.
Sri Lanka economic crisis: The armed soldiers were deployed in a bid to control the protestors who have been protesting against the new Sri Lankan President Ranil Wickremesinghe outside the premises of the Sri Lankan Presidential Secretariat.
Sri Lanka crisis: Wickremesinghe was on Wednesday elected as Sri Lanka's President by lawmakers and sworn in on Thursday as the 8th president.
Sri Lanka president election: Wickremesinghe, Dullas Alahapperuma and Anura Kumara Dissanayake were proposed by lawmakers on Tuesday as the three candidates for the presidential election.
Sri Lankan parliament is expected to elect a new president Wednesday, paving the way for a fresh government, but it is unclear if that’s enough to fix a shattered economy and placate a furious nation of 22 million that has grown disillusioned with politicians of all stripes.
Sri Lanka crisis: On Monday, Sri Lankan Members of Parliament from the ruling party Sri Lanka Podujana Peramuna (SLPP) complained of receiving threat messages on social media.
Sri Lanka Crisis: The government gazette number 2288/30 dated July 17 was issued Monday morning. The 225-member Parliament is expected to elect the new president on July 20.
Sri Lankan economic crisis: Amid the Russia-Ukraine war, which also serves as another factor of the debts, oil prices have jumped. The exports have been cut off majorly amid the war, resulting in rising in food prices across developing countries.
Sri Lanka Crisis: The only time when Sri Lanka's presidency became vacant mid-term was in 1993 after the assassination of then-president Ranasinghe Premadasa.
Sri Lanka crisis: On Wednesday, at least 84 people were hospitalised when protesters clashed with the security forces at the prime minister’s office and at the main access junction to Parliament.
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