Puttalam sri lanka

Sri Lanka, a popular destination for holidaymakers, should be teeming with tourists at this time of year. Instead, an unprecedented economic crisis and political turmoil have all but wreaked its tourism with about 40 per cent of the pre-bookings being cancelled recently. Tourism accounts for about 5 per cent of Sri Lanka’s Gross Domestic Product (GDP), with Britain, India and China being the main markets. Sri Lanka is facing its worst foreign exchange crisis after the COVID-19 pandemic hit the island nation’s earnings from tourism and remittances. According to the Sri Lanka Tourism Development Authority (SLTDA), the number of tourist arrivals decreased by 60 per cent in June. Director General of SLTDA Dhammika Wijesinghe said the situation had arisen due to the unprecedented economic crisis. As per SLTDA data, 106,500 tourists arrived in March 2022, but the number dwindled to 32,856 in June. Wijesinghe said July and August are the best months for tourism in Sri Lanka. … [Read more...] about Sri Lanka’s spiralling economic crisis dents its lucrative tourism industry

Sri Lanka’s Supreme Court on Wednesday barred former prime minister Mahinda Rajapaksa, ex-finance minister Basil Rajapaksa and former Central Bank Governor Ajith Nivard Cabraal from leaving the crisis-hit country till August 2, extending an overseas travel ban that was imposed till July 28. The petition against them was filed by a group including former Chairman of the Ceylon Chamber of Commerce Chandra Jayaratne, former Sri Lanka swimming champion Julian Bolling, Jehan Kanagaratna and Transparency International Sri Lanka, according to news portal Colombo Gazette. The petitioners claimed that the three persons were directly responsible for the unsustainability of Sri Lanka’s foreign debt, its debt default and the current economic crisis. On July 15, Sri Lanka’s apex court had barred the trio from leaving the country till July 28, the report said. That ban has now been extended till August 2, it added. Earlier this month, Basil was prevented from leaving Sri Lanka following … [Read more...] about Sri Lanka’s Supreme Court extends overseas travel ban on Mahinda Rajapaksa brothers till Aug 2

Commonwealth Games: Alexander Stadium in Birmingham. Ten members of crisis-hit Sri Lanka's Commonwealth Games contingent in Birmingham have disappeared in a suspected attempt to remain in Britain, a top sports official from the island nation told AFP on Sunday. The nine athletes and a manager vanished after completing their events, the official said, requesting anonymity. Three of them -- judoka Chamila Dilani, her manager Asela de Silva, and wrestler Shanith Chathuranga -- had disappeared last week. That prompted a police complaint by the Sri Lankan officials. "Since then, another seven have vanished," the official said, without identifying them. Close "We suspect they want to remain in the UK, possibly to get employment." The 160-strong Sri Lankan contingent's management possessed the passports of all members to ensure they returned home. That failed to deter some from leaving. British police located the first three that disappeared, but as they … [Read more...] about Commonwealth Games 2022: 10 from Sri Lanka contingent missing, says top official

The Gotabaya Rajapaksa government needs an outside investor also because the country is dealing with a dire economic crisis Gotabaya Rajapaksa, once considered a "war hero" by the Sinhalese Buddhist majority for crushing the LTTE and ending the nearly 30-year civil war, is now detested by the same people who dramatically stormed his official residence over Sri Lanka's worst economic crisis following which he fled the country in the middle of the night. The 73-year-old politician and younger brother of former prime minister Mahinda Rajapaksa, is a former military officer who attended the counter-insurgency and jungle warfare school in Assam in 1980. He was the first person with a military background to be elected as Sri Lanka's President in 2019 with a huge mandate. His resignation comes days after thousands of protesters stormed his official residence, blaming him for the island nation's unprecedented economic turmoil since its independence from Britain in 1948. The … [Read more...] about Gotabaya Rajapaksa; A ‘war hero’ detested by his admirers over Sri Lanka’s worst economic crisis

The IMF logo as seen outside the headquarters building in Washington The IMF on Friday said that it is deeply concerned about the current crisis in Sri Lanka and hopes for a resolution of the current situation to resume talks as soon as possible on a bailout package for the island nation. Sri Lanka is going through a deepening political and economic crisis. President Gotabaya Rajapaksa has resigned, and Parliament Speaker Mahinda Yapa Abeywardenaon officially announced on Friday, after a week of dramatic developments and massive protests against the government for mishandling the economy that has bankrupted the country. We hope for a resolution of the current situation that would allow for our resumption of a dialogue on an IMF-supported programme, Gerry Rice, the Director of the Communications Department of the IMF, was quoted as saying by News First Lanka. The high-level discussions with the authorities that we would need to begin discussions on a programme, we hope … [Read more...] about IMF wants stability in Sri Lanka to resume talks on bailout deal

(CTN News) – According to the Foreign Ministry, Thailand has donated medicines, medical supplies, food, and financial support worth 5 million baht to Sri Lanka. Thai Red Cross Society, Somdet Phra Nyanasamvara Somdet Phra Sangharaja Wat Bavoranives Vihara Foundation under the Royal Patronage, and Wat Phra Ram 9 Karnchanapisek made the donations. Another 1.3 million baht worth of medical supplies was also donated to Sri Lanka by the Foreign Ministry. Sri Lanka’s Ambassador CA Chaminda I Colonne received donations on behalf of his government. Prior to this, the Thai Parliament donated 700,000 baht and Siam City Cement donated 4 million baht worth of medical supplies and monetary aid to Sri Lanka. Thailand donates over 6 million baht to Sri Lanka Various Thai public and private sectors are also considering providing additional assistance to Sri Lanka. According to the announcement, the donations reflect the close ties and goodwill between Thais and … [Read more...] about Thailand Donates Over 6 Million Baht To Sri Lanka

Sri Lanka used to be a middle-income country, with GDP per head comparable to the Philippines and living standards the envy of neighbouring India. But with economic mismanagement and the crucial tourism industry hammered by Covid-19, the nation has run out of dollars needed to pay for most imports. (Image: AFP) Sri Lanka will restrict fuel imports for the next 12 months as it is facing a severe shortage of foreign exchange, Minister of Power and Energy Kanchana Wijesekera has said while announcing a rationing system for the distribution of fuel across the crisis-hit island nation. Sri Lanka, a country of 22 million people, is under the grip of an unprecedented economic turmoil, leaving millions struggling to buy food, medicine, fuel and other essentials. The severe foreign exchange shortage has hampered the import of fuel and other essentials in the country reeling under the worst economic crisis in seven decades. Taking to Twitter on July 25, Wijesekera said a QR system has … [Read more...] about Sri Lanka to restrict fuel imports for one year amid the worst economic crisis: Minister

As President, Ranil Wickremesinghe will serve the remainder of Gotabaya Rajapaksa’s term that ends in 2024. Sri Lanka’s Parliament is set to convene on Wednesday for the first session under new President Ranil Wickremesinghe and will approve the state of emergency imposed over a week ago to quell social unrest, an official announcement said on Tuesday. Wickremesinghe announced the state of emergency on July 17 after President Gotabaya Rajapaksa fled Sri Lanka to escape a popular uprising against his government’s economic mismanagement. The veteran politician was appointed the interim president following Rajapaksa’s departure to the Maldives and then to Singapore amid unprecedented anti-government protests. Parliament on Wednesday elected Wickremesinghe, an ally of Rajapaksa, as the successor to Rajapaksa, who resigned after reaching Singapore. It was the first time in 44 years that Sri Lanka’s Parliament directly elected a president. Parliament on Wednesday elected … [Read more...] about Sri Lanka’s Parliament to meet for first session under President Ranil Wickremesinghe on Wednesday

India reacted ”really swiftly” with an absolutely critical set of measures to help Sri Lanka tide over its economic crisis, but calls to Beijing to provide significant relief have gone unanswered, visiting USAID administrator Samantha Power said on Wednesday. In an address at an event in Delhi IIT, Power said China became one of Sri Lanka’s ”biggest creditors” offering often ”opaque loan” deals at higher interest rates than other lenders, and wondered whether Beijing would restructure the debt to help the island nation. Power is on a visit to India from July 25 to 27. The US Agency for International Development (USAID) is one of the leading aid agencies globally. ”India has reacted really swiftly with an absolutely critical set of measures,” she said. The USAID administrator also referred to India’s Line of Credit of USD 3.5 billion (one billion = 100 crores) to Sri Lanka and other assistance to help the country steer its economy out of default and further collapse. … [Read more...] about India reacted swiftly to help Sri Lanka: USAID administrator Samantha Power

Former Sri Lankan President Gotabaya Rajapaksa (Reuters) Sri Lanka’s former president Gotabaya Rajapaksa is not in hiding and is expected to return to the country from Singapore, Cabinet spokesman Bandula Gunawardena said on July 26. Rajapaksa, 73, fled Sri Lanka after the July 9 uprising when people broke into the President’s House after months of public protests against him for mishandling the country’s worst economic crisis since 1948. Rajapaksa first fled to the Maldives on July 13 and from there he proceeded to Singapore the next day. When asked about Rajapaksa at a weekly Cabinet media briefing, Cabinet Spokesman Gunawardena told reporters that the former president was not in hiding, and he is expected to return from Singapore. Gunawardena, who is also the Minister for Transport and Highways and Mass Media, said he does not believe the former president fled the country, and is in hiding. He, however, did not offer any other details of Rajapaksa’s possible return. … [Read more...] about Former president Gotabaya Rajapaksa to return to Sri Lanka from Singapore: Cabinet spokesman