Sri Lanka goes bankrupt

UPDATE Sri Lanka Bankrupt: Less than a day of fuel reserves left! page all

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COLOMBO, KOMPAS.com – Sri Lanka bankrupt and almost paralyzed because the reserves of fuel oil (BBM) owned continue to shrink. Sri Lanka’s Energy Minister Kanchana Wijesekera even said on Sunday (3/7/2022), his country only had less than one day remaining of fuel. Public transport services in Sri Lanka have also been reported to have stalled … Read more

Sri Lanka Threatened by Famine, Wants to End Crisis but China Is Stuck

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Author: DW Indonesia COLOMBO, KOMPAS.com – President Gotabaya Rajapaksa’s decision to ban the import of chemical fertilizers in April 2021 had the impact of drastically cutting crop yields in Sri Lanka. Now, in the midst of an economic disaster, the government has lifted the ban again and has promised to guarantee the availability of fertilizer … Read more

Hit by Crisis and Bankruptcy, Sri Lanka Doesn’t Have a Finance Minister

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COLOMBO, KOMPAS.com – Sri Lanka appointed nine new ministers on Friday (20/5/2022), but the position of finance minister remains vacant. Prime Minister Ranil Wickremesinghe, who replaced Mahinda Rajapaksa after the elder brother of president Gotabaya Rajapaksa resigned, has promised to form a cross-party coalition after the previous cabinet was dissolved. New ministers — among others … Read more

Sri Lanka runs out of gas and can’t import because they don’t have dollars

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COLOMBO, KOMPAS.com – Sri Lanka is running out of gasoline and has no dollars to import fuel, new prime minister Ranil Wickremesinghe said on Monday (16/5/2022). “We’re out of gas… Right now, we only have one day in stock,” he said, warning that Sri Lanka goes bankrupt may face more difficulties in the coming months. … Read more

Why Bankruptcy and Causes of Failure to Pay Debt

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COLOMBO, KOMPAS.com – Sri Lanka is suffering from its worst economic crisis since its independence from Britain in 1948. Months of power outages, shortages of food, fuel and medicine have angered the public. There was a large demonstration demanding the resignation of the government which ended in Sri Lankan riots this week. What’s wrong with … Read more

Bankrupt State, Sri Lanka Asks Migrants to Send Money to Buy Food

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COLOMBO, KOMPAS.com – Sri Lanka urged its citizens overseas to send money to the country to help buy basic needs and fuel on Wednesday (13/4/2022). The insistence was issued by Sri Lanka’s central bank after the island nation went bankrupt and announced a default on its US$51 billion (Rp 732 trillion) foreign debt. Sri Lanka … Read more

Bankrupt country, Sri Lanka asks foreigners to send money to buy food

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COLOMBO, KOMPAS.com – Sri Lanka urged its citizens overseas to send money to the country to help buy basic needs and fuel on Wednesday (13/4/2022). The insistence was issued by Sri Lanka’s central bank after the island nation went bankrupt and announced a default on its US$51 billion (Rp 732 trillion) foreign debt. Sri Lanka … Read more