Debt-stricken Sri Lanka signed a trade pact with Thailand on Saturday in a bid to boost trade and investment as the Indian Ocean island nation is struggling to recover from its worst economic crisis that hit two year ago. The Sri Lanka-Thailand Free Trade Agreement covering trade in goods, investment, custom procedures, and intellectual property … Read more
2023 has been an eventful year for South Asia. Many leaders in the region were gearing up for elections this year or next, leading to a flurry of campaigns and electoral activities. Amidst these political developments, the region continued to face challenges ranging from economic and political instability to humanitarian crises. A standout development has … Read more
In 2020, Sri Lanka went through its worst bout of macroeconomic instability since winning independence. The COVID-19 pandemic is not the only cause of this instability; the economy has long been beset by a number of structural problems. The question of whether Sri Lanka should obtain financial assistance from the International Monetary Fund (IMF) was … Read more
Indian Prime Minister Narendra Modi shakes hand with Sri Lankan President Ranil Wickremesinghe after making press statement respectively, in New Delhi, India, Friday, July 21, 2023. Credit: AP Photo/Manish Swarup Advertisement It was only a year ago that Sri Lanka dominated international headlines, as its worst economic crisis in more than 70 years contributed to … Read more
Advertisement Sri Lankan President Ranil Wickremesinghe made an official visit to India last month. It was his first trip to India since taking over as president of the Indian Ocean island state. Wickremesinghe came to power amid social and political upheaval as Sri Lanka went through its worst economic crisis last year. During the visit, … Read more
Advertisement Sri Lanka marked the first anniversary of the historical people’s uprising known as “Aragalaya,” meaning struggle, on July 9. A year ago, President Gotabaya Rajapaksa fled the country, then resigned from abroad, following protests of an unprecedented scale from Sri Lankan citizens. The uprising, sparked by the former government’s mismanagement of the country’s economy, … Read more
Advertisement Chinese petroleum giant Sinopec signed an agreement with Sri Lanka on Monday to enter the South Asian island country’s retail fuel market as it struggles to resolve a worsening energy crisis amid an unprecedented economic upheaval. The contract agreement would enable Sinopec to import, store, distribute, and sell petroleum products in Sri Lanka, which … Read more