Sri Lanka

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  • Despite its crisis, Sri Lanka plans to boost its military spending

    The country is on its knees from the collapse of its currency and foreign debt; yet, it spends 19 per cent of its budget on the military 13 years after the end of the country’s civil war in order to keep a heavy military presence in the north of the country. “The government and President Wickremesinghe need the military because they do not have the support of public opinion,” says Tamil lawmaker.

  • Sri Lanka gets loan from IMF

    The deal includes US$ 2.9 billion to be disbursed over 48 months. The next steps will depend on Sri Lanka's ability to comply with the demands of the lending agency, which calls for financial transparency and a crackdown on corruption. Japan urges China and India to come together to assess Sri Lanka’s debt restructuring.

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