Sri Lanka Economic Crisis Live: Sri Lanka foreign minister says government still holds majority in parliament

Sri Lanka's government still has a majority in parliament and there is no consensus on who can replace the president and the prime minister despite protests against an economic crisis, the foreign ministry said on Thursday detailing a briefing of overseas diplomats. Meanwhile, A Sri Lankan court placed a travel ban on the country's recently resigned central bank chief following allegations he is responsible for the island's crippling economic crisis. Stay tuned for more updates.

Sri Lanka foreign minister says government still holds majority in parliament

SriLanka's government still has a majority in parliament and there is no consensus on who can replace the president and the prime minister despite protests against an economic crisis, the foreign ministry said on Thursday detailing a briefing of overseas diplomats.

US cautions its citizens against travelling to Sri Lanka

Amid the ongoing unrest in Sri Lanka owing to its economic crisis, the United States on Wednesday advised its citizens against travelling to the island nation, pointing to the fuel and medicine shortages there, besides the Covid-19 and terror threats.

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Sri Lanka needs to restructure $1 billion debt maturing in July: Ali Sabry

Sri Lanka must look to restructure a $1 billion international sovereign bond maturing in July, said Ali Sabry, who recently submitted his resignation as finance minister amid a massive economic crisis.

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Sri Lanka president asks experts to plan debt restructure

SriLanka's beleaguered president has appointed an expert panel to organise a debt restructure to claw the country out of a crippling economic crisis that has sparked huge protests demanding his resignation.

Scarce supplies of food and fuel, along with record inflation and regular blackouts, have inflicted widespread misery in the country's most painful downturn since independence from Britain in 1948.

President Gotabaya Rajapaksa will not resign 'under any circumstances': Lanka Govt

SriLankan President Gotabaya Rajapaksa will not resign "under any circumstances", his government's chief whip told parliament on Wednesday as he defended the beleaguered leader's controversial decisions, amidst huge public protests demanding his resignation over the country's worst economic crisis.

SriLankans have protested for weeks over lengthy power cuts and shortages of gas, food and other basic goods. The public anger has prompted nearly all Cabinet ministers to quit, and scores of lawmakers to leave Rajapaksa's government.

Sri Lanka forms advisory group to assist with IMF talks

SriLankahas appointed a three-member advisory group to assist government officials engaging with the International Monetary Fund (IMF), the president said on Wednesday, as the island nation looks to get through a severe economic crisis.

The responsibilities of the group "of economic and fiscal experts" include providing guidance that will address the present debt crisis, President Gotabaya Rajapaksa said in a statement.

India supplies two fuel consignments to Sri Lanka

India has delivered two fuel consignments to Sri Lanka in the last 24 hours, India's high commission on the crisis-hit island nation said on Wednesday.India supplied 36,000 tonnes of petrol and 40,000 tonnes of diesel, the high commission said, taking total Indian fuel supplies to Sri Lanka to 270,000 tonnes.The country of 20 million people is suffering its worst economic crisis in decades, short supply of fuel resulting in hours-long power cuts every day.

ECGC reviews country risk rating of Sri Lanka

The Mumbai-headquartered Export Credit Guarantee Corporation of India (ECGC) has modified its underwriting policy for export transactions to Sri Lanka.

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Sri Lanka's crisis: The disaster of economic dependency

Sri Lanka’s economic crisis has turned into a crisis of political power. The President, Gotabaya Rajapaksa, is under siege from protests across the country.

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Sri Lanka parliament speaker warns crisis risks starvation

Sri Lanka's crippling economic crisis risks causing starvation across the island nation of 22 million while acute shortages of essentials and debilitating blackouts will get worse, the speaker of parliament warned Wednesday.

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Sri Lankan shares drop; president to stay on despite protests

SriLankan shares closed lower on Wednesday after news that despite widespread protests, the president of the debt-heavy island nation, currently facing an economic crisis, would not resign.

At the close of trade, the CSE All-Share index settled 1.8% lower at 8,580.93 points.

Sri Lanka parliament speaker warns crisis risks starvation

Sri Lanka's crippling economic crisis risks starvation across the island nation of 22 million while acute shortages and blackouts will get worse, the speaker of parliament warned Wednesday.

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Difficult political environment in Sri Lanka could weigh on policymaking, economy's recovery from pandemic: Moody's

Sri Lanka parliament speaker warns crisis risks starvation

Sri Lanka's crippling economic crisis risks starvation across the island nation of 22 million while acute shortages and blackouts will get worse, the speaker of parliament warned Wednesday.

Scarce supplies of food and fuel, along with record inflation and blackouts, have inflicted widespread misery in the country's most painful downturn since independence from Britain in 1948.

Public anger is at a fever pitch, with crowds attempting to storm the homes of several government figures -- including President Gotabaya Rajapaksa -- and large demonstrations elsewhere.

Mahinda Yapa Abeywardana told legislators that more hardships were to come. (AFP)

Doctors’ protest blocks Town Hall road

Government Medical Officers' Association members walk with placards against SriLanka's President Gotabaya Rajapaksa after his government lost its majority in the parliament, amid the country's economic crisis, during a protest near a road leading to the parliament building in Colombo,SriLanka. (Reuters Photo)

Bandula Gunawardena's name proposed as new Sri Lanka FM: Report

Bandula Gunawardena'sname has been proposed as the new Finance Minister of Sri Lanka afterAli Sabry resigned from the post in less than 24 hours, sources told Daily Mirror.

Sri Lanka's president will not resign despite protests, says minister

Sri Lanka's President Gotabaya Rajapaksa will not resign despite widespread protests against his handling of the country's economic crisis, a minister told parliament on Wednesday.

"May I remind you that 6.9 million people voted for the president," Chief Government Whip and Highways Minister Johnston Fernando said in response to opposition criticism.

"As a government, we are clearly saying the president will not resign under any circumstances. We will face this." (Reuters)

'Prez Rajapaksa won't resign under any circumstances,' says chief govt whip

"President Gotabaya Rajapaksa will not resign as he was elected by the people," said Minister Johnston Fernando in the Parliament. (Reuters Photo)

IGP expresses regret over verbal clash between police and army near Parliament

The Inspector-General of Police (IGP) C D Wickramaratna has expressed regret over a verbal clash between police officers and several army personnel attached to the Army motorcycle squad at the roadblock near the Parliament complex during a public protest on Tuesday, Daily Mirror reported.

Sri Lanka's doctors to protest against drugs shortage as crisis persists

Sri Lankan doctors said they will hold a street protest in the commercial capital Colombo on Wednesday as hospitals run out of essential drugs because of the country's worst economic crisis in decades, even as the government appealed for calm.

President Gotabaya Rajapaksa revoked a state of emergency late on Tuesday after dozens of lawmakers walked out of the ruling coalition, leaving his government in a minority in parliament as it struggles to quell protests against the crisis. The emergency was imposed on Friday.

People have been suffering from shortages of fuel, power, food and other items for weeks, and doctors say the entire health system could now collapse. (Reuters)

Korea to open more job opportunities for Sri Lankans as crisis worsens

Amid Sri Lanka's economic crisis, the Republic of Korea's Coordination Minister Koo Yun Cheol informed President Gotabaya that the Korean government is focused on providing more employment opportunities to Sri Lankans in Korea.

Parliament proceedings to commence today with several MPs going independent

DH Toon | Collecting alms in Chinese bowls

For years Sri Lanka was held as the model South Asian country with robust rates of economic growth despite a brutal civil war and scored consistently over India on many global indices.Read more

India on its way to face economic crisis like Sri Lanka: Sanjay Raut

While commenting on the Sri Lanka economic crisis, Shiv Sena leader Sanjay Raut on April 5 said that India is on its way to facing an economic crisis like the island country.

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Sri Lankan President revokes emergency rule ordinance

Sri Lankan President Gotabaya Rajapaksa late on Tuesday revoked the emergency rule ordinance that had gone into effect on April 1, even as the government struggled to quell protests amid the nation's worst economic crisis in decades.

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Cash-strapped Sri Lanka has decided to temporarily shut its embassies in Norway and Iraq, as well as the country's Consulate General in Sydney, the Ministry of Foreign Affairs said on Tuesday.

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Good morning, readers! Stay tuned for latest updates from Sri Lanka's economic crisis turned political.