COLOMBO :Sri Lanka's economy shrank 11.8 per cent in the July-September quarter from a year ago, government data showed on Thursday, the second-worst quarterly contraction ever for the country going through a severe financial crisis.
"This is the second-worst contraction Sri Lanka has experienced in a quarter after a 16.4 per cent contraction in the second quarter of 2020," said Dimantha Mathew, head of research at First Capital. Economic hardships earlier this year had sparked widespread protests, which led former President Gotabaya Rajapaksa to flee the country and then resign as thousands of protesters occupied his office and official residence.
😮❗
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
IMF not expected to discuss Sri Lanka bailout before year-end: SourcesSri Lanka acknowledged last month its $3.9 billion bailout request might extend into January. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Exclusive-Sri Lanka expects up to $8 billion more in loans, asset restructuringCOLOMBO : Sri Lanka is expecting loans of up to $5 billion next year from multilateral agencies besides a deal with the IMF, the foreign minister told Reuters, adding that the government could raise up to $3 billion through the restructuring of state assets.'Apart from what we get from the IMF, we are loo
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Sri Lanka's economy shrinks 11.8% in second-worst performanceCOLOMBO :Sri Lanka's economy shrank 11.8 per cent in the July-September quarter from a year ago, the second worst for the country, government data showed on Thursday, as it struggled with deep unrest sparked by its most severe financial crisis in decades.An acute dollar shortage, caused by economic mismanagem
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Sri Lanka's economy shrinks 11.8% in Q3COLOMBO : Sri Lanka's economy shrank 11.8 per cent in the July-September quarter from a year ago, official data showed on Thursday, as the country struggled with deep political unrest sparked by the most severe financial crisis in more than seven decades.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Hayao Miyazaki is back with new film from Studio Ghibli for summer 2023Studio Ghibli has revealed more information on the next film from director Hayao Miyazaki. The movie, titled How Do You Live, will open in theatres in Japan on July 14, 2023. There is no word yet on an international release. The announcement of the release date was accompanied by artwork from the film, depicting a sketch of a bird-like creature....
Source: asiaonecom - 🏆 10. / 59 Read more »
‘Titanium arms take time to train’: Jimmy Lin shows X-ray of arm for 1st time since car crashGloria Gaynor may have sung I Will Survive in 1978, but Taiwanese actor-singer Jimmy Lin has since taken the disco tune to heart. After a car crash in July when his Tesla burst into flames with Jimmy and his son inside, the 48-year-old spent a lengthy time in the hospital and was back at home recuperating a month later. Yesterday...
Source: asiaonecom - 🏆 10. / 59 Read more »