Sri Lanka is emerging out of its worst economic crisis in 7 decades, and its economy expected to shrink 2% this year before returning to growth next year.
Ranil Wickremesinghe's comment came as he began a meeting with Japanese Prime Minister Fumio Kishida at the latter's office in Tokyo, their first meet since last September.
The cabinet also approved a proposal to delay salaries of some public employees to manage public finances, cabinet spokesman Bandula Gunawardana told reporters.
The President said the dire economic situation in Sri Lanka has affected every field like education & health, stressing on his debt restructuring program to help the collapsed economy.
The aim of the move is to create a 'technically and tactically sound and well-balanced' defence force by 2030, State Minister of Defence Premitha Bandara Thennakoon said in a statement.
The Presidential office said that while the status change to 'low income country' won't happen, they will request eligibility for loans offered by International Development Association.
Sri Lanka’s economic crisis has had a devastating impact on the medical sector, with acute shortages and rising prices. Some hospitals even struggle to provide food for patients.
IMF says agreement is subject to approval by its management and executive board. Sri Lankan govt is yet to come up with debt restructuring plan, say observers.
India’s sobriety and balanced approach has been a complete contrast to Sri Lanka and ranks as one of the better national economic policies anywhere in the world.
High Commissioner Gopal Baglay's meeting with Mahinda Yapa Abeywardena comes days before Sri Lanka elects a new President on 20 July, amidst the ongoing economic & political turmoil there.
According to government reply in Lok Sabha, the pilot phase of PMIS is being used to test concepts, strategies and systems before a full-scale implementation of the scheme.
Order for 87 MALE drones will be split between 2 Indian firms in 64:36 ratio to ensure there are 2 independent manufacturing lines with at least 60% indigenous components.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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