Oil shortage in Sri Lanka, foreign exchange crisis

Pic: Shutterstock

Sri Lanka is in a foreign exchange crisis This has led to currency fluctuations and has affected the flow of essential commodities such as food, medicine and fuel, which has led to International Monetary Fund (IMF) For help. The country’s inflation rate, which was 17.5 percent in February – the highest since 2015 – is … Read more

Sri Lanka loses power over foreign exchange crisis

Colombo falls – As the country continues to plunge into decades of economic crisis, officials in Sri Lanka are stepping up power outages, leading to fuel shortages and frequent power outages. The Sri Lankan Public Utilities Commission will close the grid for four hours and 40 minutes due to a shortage of 540 megawatts, officials … Read more

Tap Forex crunch Indian Exporters in Sri Lanka

Large-scale exports from the port of Tutukudi to Sri Lanka are not clear at the port of Colombo due to the island’s export crisis. About 60% of Sri Lanka’s domestic demand comes from southern ports, particularly Tutukudi. Sri Lankan rupee depreciated sharply against the dollar, causing Foxes to fall. Rising inflation and rising oil prices … Read more