Sri Lanka economic crisis: President Rajapaksa declares state of emergency from midnight
World | May 06, 2022 23:59 ISTThe state of emergency gives the police and the security forces power to arbitrarily arrest and detain people.
The state of emergency gives the police and the security forces power to arbitrarily arrest and detain people.
The world bank is facilitating financial and technical assistance to Sri Lanka. The cash transfer will be done only through bank accounts. Any eligible person who doesn't have an account will be informed to open one immediately by government officials concerned, the minister said in a tweet.
On Monday, India had extended its current credit line by a further USD 200 million to replenish Sri Lanka’s rapidly depleting fuel stocks.
The resolution was unanimously passed by the house, including the opposition AIADMK and the BJP.
President Gotabaya Rajapaksa agreed that a national council will be appointed to name a new prime minister and Cabinet comprised of all parties in Parliament, lawmaker Maithripala Sirisena said after meeting with the president.
As the world's richest person Elon Musk clinched a stunning deal valued at $44 billion and bought Twitter, netizens are arguing how he could have put that huge amount to better use. From saving the world from hunger to buying an iron man suit for himself, the list is endless.
Rajapaksa had responded to a letter from the chief monks of the four Buddhist chapters dated April 4 in which they had asked Rajapaksa to dissolve the Cabinet to set up an interim government.
Sri Lanka is facing its worst economic crisis since the country gained independence in 1948.
This was the first extension of an international debt instrument to Sri Lanka after the government led by President Gotabaya Rajapaksa on April 12 temporarily suspended debt servicing.
With back to back financial support from India, China has announced on providing emergency humanitarian assistance to the crisis-hit Sri Lanka facing its worst ever economic down turn leading to social and political catastrophe.
SJB presented the draft 21st constitution amendment bill to the secretary-general of parliament with proposals including the abolition of the current executive presidential system.
World Bank Vice President Hartwig Schafer held talks with Sri Lankan Finance Minister Ali Sabry in Washington on Tuesday, the Colombo Gazette reported on Wednesday.
Sri Lankan state media reported that the public had blocked the railway tracks near the Rambukkana railway crossing for over 8 hours over fuel price hike.
Sitharaman, who is in Washington DC for the annual spring meetings of the International Monetary Fund (IMF) and the World Bank, discussed the current economic situation and India’s approach towards addressing the prevailing challenges in Sri Lanka on Monday, the Ministry of Finance said.
People have endured months of shortages of essentials like food, cooking gas, fuel and medicine, lining up for hours to buy the very limited stocks available.
The Anti-Terrorism Court Lahore also handed down two-year sentence each to remaining 67 other suspects.
In the new cabinet, there is no place for the oldest member of the family Chamal Rajapaksa, Mahinda’s son Namal Rajapaksa, both of whom were Cabinet ministers, and the nephew Shasheendra who was a state minister.
China's takeover of Sri Lanka's Hambantota port on 99 years’ lease for USD 1.2 billion debt swap drew international concerns over Beijing acquiring strategic assets far away from home.
According to a statement from the Prime Minister's Office, Rajapaksa is willing to hold discussions with the protesting youths who are camping at Galle Face esplanade located near President Gotabaya's secretariat.
The debt servicing suspension will be in force for an interim period pending an orderly and consensual restructuring consistent with the proposed arrangement with the IMF.
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