Sri Lanka debt restructuring: President says economy is recovering from 2023 crisis

The economic situation in debt-stricken Sri Lanka has started to improve according to the president.
The country is recovering from major financial challenges which led to mass protests and a political crisis two years ago.
Sri Lanka was unable to repay foreign debt, defaulting for the first time in its history.

Al Jazeera’s Minelle Fernandez has more from the capital, Colombo.


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[rajk]

The reason the queues have disappeared is simple:

In the last two years, prices for most products have more than doubled while income has not increased, therefore demand has collapsed.

Successive Sri-Lankan regimes have printed money and mismanaged the economy.

The country’s public debt is around 100% of the GDP.

Sri-Lanka has asked the IMF for bailout 16 times in the last 52 years.

Building a few roads and fancy hotels will not deliver long-term growth!

Just wait for the next crisis to come!

[naturallife]

Sri Lanka is in correct way now. It will be ok soon

[hamzahamza-bzrf]

Invest in the financial markets before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth..

[bryanotieno]

Higher taxation is a way of government to cover up its expenditure

[ladiswashharoom]

This guy is an ace Lier, truth is Sri Lanka is enjoying a small period where they dont have to pay back loans and interests, just like Argentina and other debt-ridden countries, they too will be back in crisis from 2028

[pasanwicky]

He is one of the main reasons why Sri Lanka was destroyed and bankrupted. He is the one who got the most ISBs when he was in power. And he is known as Batalanda murderer and the main accused of bond scam.

[Srilankanthamilan]

No this fake everything prices high 😢😢

[emilero]

Ranil is just a cunning fox. He kept playing with peaple with creative lies.

[be-ease]

Recovering, at what cost and whos cost? It is yet again at the cost of poor suffering ordinary citizens!! Merely putting up bridges and roads doesn't mean progress or development.

[starrynight]

Sri Lanka has simply postponed the crisis.

[chanakalin]

Fuel and food queues are no longer available and buying power (even on food) of the people also no longer available

[SachithNalakaMuhandiram]

AJ, if u get a chance to interview him, just ask "what happened in Batalanda camp", what he was doing there with his henchmen.

[Don_Ram]

Unfortunately so called good, educated leaders are nowhere to be found at the moment. Its an easy one man show for Ranil.

[janpur]

Mrs Fernandez is lying about the current situation. There are no development going on currently. Average monthly salary is US$ 125 and an egg is US$ 0.20, 1Kg milk powder is US$ 10, 1 liter of petrol is US$ 1.2. Go figure...

[Bryghtpath]

If you rely on Sri Lanka for supplies like textiles, tea, or seafood, it's good to hear the economy is bouncing back. The IMF's bailout is helping stabilize things, but there are still challenges, especially with high living costs. Monitor closely to how this affects your supply chain and plan accordingly.

[aeroTnz]

The country was broken and in a worse state when Ranil came but at least he improved the situation and finished the powercuts

[pkds]

The guy is not sri Lankan president, he's Rajapaksha family security guard and saviour also biggest bank robber in the world 😂😂😂

[Trendingart-ykzo]

If it continue like this, may be SL trap in big trouble than that. President's restructuring system is he get debt from another country and restructuring IMF loan😅

[Chamila_Liyanage]

Ranil Rajapaks government is in a PR project for IMF and they are practising double standards. Corruption is still at its best levels and there's absolutely no accountability and transparency to their actions, including revealing details of ISB holders! Sri Lanka's economic crisis began during Ranil's period from 2015. He can't solve this, people just want him out!

[mssuhat]

ජන්දයට ඉදිරිපත්ව තමන්ගේ පක්ෂයේ එක පාර්ලිමේන්තු මන්ත්‍රීවරයකු රැක ගැනීමට බැරි එකා කූට වැඩවලින් ජනපති වෙලා පම්පෝරි ගහනවා අවුරුදු 47 ක් පාර්ලිමේන්තුවේ හිටපු නාකියා අවුරුදු 76 ක් විනාශ කරපු රට දැන් දියුණු වෙලා 😂😂