Sri Lanka to stop excess borrowing, eyes cheap funds after IMF deal

By Shihar Aneez COLOMBO, Apr 12 : Sri Lanka will stop excess government borrowing in a bid to get out of a debt trap and it hopes for cheaper loans after a deal with the International Monetary Fund is finalised, its central bank chief said on Tuesday. Sri Lanka is facing a looming balance of […]

Sri Lanka requests equity swap for some of its 8 bln dollars China debt

By Ben Blanchard BEIJING, Apr 9 : Sri Lanka has asked China to swap some of the $8 billion the Indian Ocean country owes Beijing for equity in infrastructure projects and offered to sell stakes in Sri Lankan companies to Chinese ones, Sri Lankan officials said on Saturday. The ouster of President Mahinda Rajapaksa, who […]

Sri Lanka could accept international actors in war crimes probe

By Idrees Ali WASHINGTON, Feb 26 : Sri Lanka’s foreign minister said he is willing to consider international participation in investigating possible war crimes during the 26-year Tamil insurgency. “I think it is only fair that the victims of the war would want some form of guarantee that the new courts will deliver justice and […]

Sri Lanka in initial discussions on IMF loan – Fin Min

By Shihar Aneez COLOMBO, Feb 12 : Sri Lanka is in initial talks with the IMF about a loan, Finance Minister Ravi Karunanayake said today, amid concerns over pressures on its balance of payments, outflows from government bonds and a ballooning fiscal deficit. Higher foreign debt repayments and the central bank’s heavy intervention to prop […]

Short of options, Sri Lanka turns back to Beijing’s embrace

By Shihar Aneez COLOMBO, Feb 11 : Just over a year after a new leader was elected and Sri Lanka’s business ties with China came under close scrutiny, Colombo is reversing course by resuming a stalled port project and naming Beijing as the front runner for a new special economic zone. India is nervous about […]

UN rights chief meets families of Sri Lanka’s war victims

By N. Parameswaran JAFFNA, Sri Lanka, Feb 7 : The United Nations human rights chief today travelled to the north and east of Sri Lanka to assess the country’s progress in prosecuting alleged war crimes. Zeid Ra’ad Al Hussein is the first senior UN official in two-and-a-half years to visit the northern conflict zones of […]