Economists say the projects could be thrown a lifeline through a China-Sri Lanka free trade agreement and joint ventures.
To hold the president and the other officials criminally responsible, criminal cases have to be filed and proof of criminal actions are required.
Austerity measures such as tax reforms have taken a toll on Sri Lankans struggling with inflation and rising living costs.
India’s rush of energy and maritime deals with Sri Lanka are part of a strategy to boost its presence as the ‘strongest player’ in the South Asia region, analysts say.
Some experts also caution of lower barriers of entry to Sri Lanka’s power and energy markets for foreign firms, in view of the stability of the nation’s political future.
The cash-strapped South Asian nation is closing its banks from Thursday to begin a restructuring process linked to the US$2.9 billion loan it received from the IMF earlier this year.
Global economic shocks that decimated apparel demand prompted factories to lay off workers in an industry that accounted for half Sri Lanka’s export revenue in 2022.
Families, survivors urge ‘deserving punishment’ for perpetrators, as evidence suggest authorities had intelligence on potential attacks at least two weeks in advance.
Sri Lanka has been waiting since September for the IMF loan, which would give it foreign exchange funds to purchase sorely-needed goods and ease inflation.
‘The economy has collapsed, everything is unstable. If the franchise is also lost, can we still hold hope for the future?’.
Many are angry at president’s move to ‘fully’ implement a 1987 constitutional amendment which would grant more autonomy to regions.
Proposals would reduce number of approved military personnel from 200,783 to 135,000 by 2024, and further reduced to 100,000 by 2030.
Rohingya advocates fear that interest in the group is waning, as regional authorities were slow to respond to rights groups’ multiple calls for help and information on vessels.
More than one-third of the island nation’s families are going hungry. Its economy is shrinking. But Colombo can’t get its bailout until Beijing gives it financing assurances.
Fishermen are still finding plastic in fish from the Singapore-registered vessel carrying chemicals, plastic pellets that caught fire and sank near Sri Lanka, but there’s been little compensation so far for the ‘developing’ tragedy.
Ranil Wickremesinghe’s first budget as president had to meet conditions laid out by international body, but many believe he is not doing nearly enough to deal with economic crisis still affecting millions.
Last month, year-on-year food inflation hit 95 per cent, meaning millions of families have had to forgo basics.
Experts say there are many challenges ahead as prices continue to rise, with millions already in dire straits and warnings of a humanitarian crisis.
Many transpeople can no longer afford rent and drugs for hormone therapy and struggle to find employment in a country mired in crisis.
The new president has to work quickly to restore stability and seal a rescue deal with the IMF as the country runs out of cash and demonstrations continue.
Amid the economic crisis, with food, fuel and medicine shortages, the president and prime minister have both said they’ll resign; protesters are refusing to leave government buildings until the men have formally gone.
The country’s fuel crisis is taking a toll on schools, hospitals and critical export industries such as the seafood sector.
The Easter Sunday bombings and the pandemic lashed the sector from 2019-2021. Now, unrest arising from economic duress has further hurt tourism.
The cost of living has shot up amid the economic crisis – driving some women to turn to unhygienic practices and forcing schoolgirls to stay at home because they cannot afford menstrual products.
The clan that has dominated politics for some two decades has fallen from grace, with Mahinda replaced as PM and his president brother facing calls to resign.
Hydropower can typically meet about 40 per cent of the island nation’s electricity needs, but a dry spell has caused this to drop to about 20 per cent.
Who lives, who dies? That’s the hideous triage question medical professionals are now facing as essential medicines begin to run out.
Restaurants and other eateries already hit hard by the pandemic and a months-long cooking-gas shortage are now being pushed to the brink by power outages lasting up to 13 hours a day.