-TheQuint.com A new IPCC report wants the world to decarbonise. Sri Lanka was doing just that, albeit with shoddy planning. Yet another IPCC report is out that warns of dire consequences if the world doesn’t course-correct and pursue a low-carbon pathway. This means drastically cutting our dependence on fossil fuels, among a string of other hard-hitting measures. One country did try that by announcing a ban on chemical-based farming and its decision...
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Sri Lanka caught in a 'strategic debt trap', faces worst economic crisis
-ANI/ Business Standard Sri Lanka, a flourishing island nation of 22 million, has finally fallen to China's debt-trap diplomacy. As Sri Lanka faces its worst economic crisis in decades and struggles to pay loans, China turns a blind eye after ensnaring the island nation into a debt trap. Sri Lanka is now facing the worst economic crisis since gaining independence in 1948. The recession is attributed to foreign exchange shortages caused by the...
More »Pakistan and Sri Lanka face political turmoil fueled by Chinese debt -Shishir Gupta
-Hindustan Times It is the unfolding crisis in Pakistan and Sri Lanka which is forcing countries like Maldives, Nepal and Bangladesh to think again on Chinese infrastructure loans and being part of the BRI initiative. During his trip to India last week, Nepal Prime Minister Sher Bahadur Deuba informally shared a conversation about Chinese foreign minister Wang Yi’s visit to Kathmandu in late March. The Nepalese PM, who has an equally political...
More »Wheat export at 70.30 lakh tonnes till Mar 21 this fiscal: Govt tells Parliament
-PTI/ Business Standard "The total export of wheat in terms of quantity during 2021-22 (till 21st March 2022) was 70.30 LMT" The total wheat export stood at 70.30 lakh tonnes till March 21 this fiscal, with maximum shipments to Bangladesh followed by Sri Lanka and UAE, Parliament was informed on Friday. As both Ukraine and Russia are major exporters of wheat with more than 25 per cent total share in the global wheat...
More »Knee-Deep in Debt, Food Shortages, Depleting Foreign Reserves: How Did Sri Lanka Get Here?
-TheWire.in A foreign exchange crunch in Sri Lanka has led to a shortage of essential goods and power cuts that last up to 13 hours a day. New Delhi: Sri Lanka is grappling with the worst economic crisis in decades, which has spiked the prices of essential commodities like rice, milk powder, cooking gas and fuel. For instance, one kilogram of basmati rice currently costs between Rs 300-800 as compared to around Rs...
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