Topic result for economic-crisis

Under its 'Neighbourhood First' policy, the government is committed to developing friendly and mutually beneficial relations with all its neighbours.

Wickremesinghe, 73, was sworn in as the 8th Executive President of Sri Lanka at the Parliament complex before Chief Justice Jayantha Jayasuriya.

The protesters had been provided some 15 minutes to convey their side of the story to the viewers, after which the channel suspended transmission.

He said the vote for the new president will take place on July 20 and urged citizens to remain calm.

"They are right now working through their problems, so we have to wait and see what they do."

At least 20 people have been hospitalised following violent clashes between the police and the protesters.

On Monday, a 60-year-old man was found dead in his car in Colombo while he was awaiting for his turn at a fuel station run by the Lanka Indian Oil Company (IOC).

Tamil Nadu Chief Minister M K Stalin had flagged off the ship laden with relief supplies, the first to be dispatched to Sri Lanka, from Chennai on Wednesday.

Sri Lanka is seeking to restructure debts of more than $50bn it owes to foreign creditors to make it more manageable to repay.

Going through its worst economic crisis, Sri Lanka on Monday was engulfed with violence after supporters of resigned Prime Minister Mahinda Rajapaksa attacked the peaceful protesters, who are on the streets for more than a month now, raising their voice against the severe economic crisis the country is going through.

The island nation has been witnessing widespread protests in the last few days.

Rajapaksa had declared emergency on April 1 also after a mass protest opposite his private residence. He had revoked it on April 5.

As the eyes of the world turn to other conflicts, Syria is on the verge of becoming a forgotten crisis. Yet millions of Syrians struggle each month to survive. For many, their situation has never been direr since the civil war erupted in 2011, she told the Security Council on Tuesday.

With the economic crisis and the shortage of forex, an Indian credit line of USD 500 million for fuel imports provided a lifeline to the island nation.

Rajapaksa also justified the public anger over the unbearable cost of living, but refused to give up his post despite mounting public pressure around the country with massive protests demanding him to step down.

Sri Lanka In Turmoil: Tracking The Collapse & Chaos

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.

WATCH | Protest Continue To Erupt In Crisis-Torn Sri Lanka

Speaking in Parliament on Wednesday, Chief Government Whip Johnston Fernando said the government will face this problem and there is no reason for President Gotabaya Rajapaksa to resign as he was elected to office.

Soon after the government lost the majority power on Tuesday, Tamil National Alliance (TNA), the main Tamil party representing Tamils from the North and East of the island nation, questioned continuity of Emergency regulation.