Commentary You may remember the headlines: in 2021, Sri Lanka’s government imposed a total ban on agrochemicals. The restrictions affected both chemical fertilizers and pesticides. The government changed course in late 2021, but the damage had already been done. Yields fell dramatically, fueling anger in the streets. By mid-2022, the country was convulsed by explosive…
Sri Lanka’s Agrochemical Ban Shows How Bad Ideas Can Have Big Consequences
November 2, 2022
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Sri Lanka Consumer Inflation Hits Record 73.7 Percent in September
Sri Lanka’s National Consumer Price Index (NCPI) rose to a new high of 73.7 percent in September from a year earlier, quickening from 70.2 percent in August, the statistics department said. Annual food price inflation picked up to 85.8 percent from 84.6 percent in August, while prices of non-food items rose 62.8 percent. Sri Lanka’s Central Bank Governor Nandalal Weerasinghe predicted…
Sri Lanka Passes Constitutional Amendment to Limit President’s Authority
Sri Lanka’s parliament on Friday passed a constitutional amendment that will limit the president’s authority in a move to restore political stability amid the nation’s worst economic crisis in decades. The bill was passed with a two-thirds majority in parliament, with 179 lawmakers voting in favor, one voting against it, and 45 others absent. The…
Sri Lanka Seeks Trilateral Cooperation With India, Japan for Economic Recovery: Envoy
October 17, 2022
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Sri Lanka has sought trilateral cooperation with India and Japan in the renewable energy, petroleum, telecoms, and port sectors to hasten its economic recovery, the Sri Lankan high commissioner to India said on Monday. “President Ranil Wickremesinghe discussed trilateral cooperation with India and Japan during his visit to Tokyo,” High Commissioner Milinda Moragoda said in…
Sri Lanka Inflation Rate Surges to 70.2 Percent in August
Consumer inflation in Sri Lanka accelerated to 70.2 percent in August, the statistics department said on Wednesday, as the island nation reels under its worst economic crisis in decades. The National Consumer Price Index (NCPI) rose 70.2 percent last month from a year earlier, after a 66.7 percent increase in July, the Department of Census…
Sri Lanka Mulls Taking On More Debt From China, India to Pay for Energy
Sri Lanka is considering purchasing solar panels through a credit line from India and China to offset rising electricity tariffs, Power and Energy Minister Kanchana Wijesekara said on Tuesday. The Sri Lankan government raised electricity tariffs by 75 percent in August, the first increase in nine years, triggering protest among local Buddhist clergy who were…
Sri Lankan President Appoints 8 Investment Committees After Securing Initial IMF Deal
Sri Lanka’s president on Thursday appointed eight task forces to explore investment prospects after reaching a preliminary deal with the International Monetary Fund (IMF) for a $2.9 billion bailout fund. President Ranil Wickremesinghe appointed public and private sector leaders to serve on task forces that will oversee procedures, regulations, and actions of government agencies involved…
India Slams China for ‘Debt-Driven Agendas’ in Spat Over Vessel Visit to Sri Lanka
The Indian High Commissioner slammed a Chinese envoy for accusing India of interfering in Sri Lanka’s internal affairs, saying that Sri Lanka did not need “unwanted pressure” while it dealt with its economic crisis. India and China were at odds over the docking of a Chinese research ship in Sri Lanka’s Hambantota port for replenishment…
Sri Lanka Will Ask Japan to Lead Debt Restructuring Talks With Main Creditors China, India: President
Sri Lanka’s president said Thursday that he would ask Japan to initiate debt restructuring talks with Sri Lanka’s main creditors, including China and India, as the crisis-hit nation strives to revive its collapsed economy. President Ranil Wickremesinghe said that he would travel to Japan in September to discuss the matter with Japanese Prime Minister Fumio…
CCP Confirms Its ‘Spy Ship’ Has Docked at Sri Lanka’s Port, After Objections From India
August 17, 2022
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Asia & PacificChinaChina Business & EconomyHambantota portIndiaInternationalInternational RelationsSri LankaWorldYuan Wang 5
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An official from the Chinese Communist Party’s (CCP’s) foreign ministry on Tuesday confirmed that the regime’s satellite-tracking vessel has docked at Sri Lanka’s port for replenishment, following a delay after India objected to the ship’s arrival, citing security concerns. The research vessel, Yuan Wang 5, arrived at the Hambantota port on Tuesday morning and will…
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