The U.S. Navy’s Diving and Salvage Center can be found in a location as obscure as its name—down what was once a country lane in rural Panama City, a now-booming resort city
Today in Sri Lanka, Administrator Samantha Power announced an additional $20 million in humanitarian assistance to support Sri Lankans during the complex emergency that has resulted in a severe economic crisis leaving
More
Sri Lanka’s debt crisis, which led to political upheaval and change of government, is the result of debt accumulation, domestic policy dysfunction and external shocks. Sri Lanka has long relied on external
More
Thirty-seven newly installed state ministers to run bankrupt Sri Lanka have urged to allocate 296 government vehicles, fuel and drivers to serve the vehicles, according to highly placed government sources. Sources confirmed
More
The world’s largest container shipping company, the MSC, began in mid-2022 to re-route its vessels passing by Sri Lanka, on a new course that is approximately 15 nautical miles to the south
More
Plots of land in the Colombo Port City have been allocated for foreign investors, but it is reported that only six plots have been acquired by the investors so far. “74 plots
More
The IMF staff-level agreement with Sri Lanka on a USD2.9 billion programme, confirmed on 1 September, appears to signal a sharp change in policy settings in order to achieve macroeconomic stability, including
More
Crisis-hit Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a loan of about $2.9 billion, the international lender said in a statement on Thursday. “The objectives
More
The full text of the interim budget speech tabled today in the parliament by President Ranil Wickremesinghe is as follows; The Interim Budget is being presented today to the Parliament, in order
More
Japan is Ready to Coordinate with Creditors Japan will coordinate with other creditors to resolve Sri Lanka’s deepening financial crisis, Finance Minister Shunichi Suzuki said on Tuesday, urging all creditor nations to
More
The ports-to-power conglomerate Gautam Adani’s business is “deeply overleveraged,” as the organisation is heavily investing across existing as well as new businesses, profusely funded with debt, CreditSights, a Fitch Group unit, said
More