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Sri Lanka's President Anura Kumara Dissanayake announced that Indian Prime Minister Narendra Modi will visit Sri Lanka on April 5, the Economic Times reported on March 22. 

India, Sri Lanka: Modi To Visit Sri Lanka on April 5

Economics

The International Monetary Fund's executive board approved the third review of Sri Lanka's $2.9 billion bailout, releasing about $334 million and bringing total funding to approximately $1.3 billion, News First reported on March 1.

Sri Lanka: IMF Executive Board Approves Third Review of Sri Lanka's $2.9B Bailout

Sri Lanka's President Anura Kumara Dissanayake, who is also the country's finance minister, announced a budget that appears broadly aligned with International Monetary Fund bailout conditions but also includes populist economic measures, Bloomberg reported on Feb. 17.

Sri Lanka: Budget Attempts To Balance Populist Appeals With IMF Bailout Conditions

China

Sri Lanka's foreign minister announced that the country signed an agreement with Chinese state-owned energy giant Sinopec to expedite the development of a proposed $3.7 billion oil refinery in Sri Lanka's southern port city of Hambantota, Reuters reported on Jan. 22.

Sri Lanka: Government To Fast-Track $3.7B Refinery With China's Sinopec

Sri Lankan President Anura Kumara Dissanayake met with Indian Prime Minister Narendra Modi in India, marking his first overseas visit since taking office in September, AP reported on Dec. 16.

India, Sri Lanka: Sri Lanka's Dissanayake Makes First Overseas Visit to India

The International Monetary Fund and Sri Lanka reached a staff-level agreement on the third review of the country's $2.9 billion bailout, Reuters reported on Nov. 23. 

Sri Lanka: New Government Reaches Staff-Level Agreement With IMF

Sri Lanka's Election Commission announced that President Anura Kumara Dissanayake's leftist National People's Power Party won a two-thirds majority in Parliament, securing 159 out of 225 seats in the snap parliamentary elections held on Nov. 14, Reuters reported on Nov. 15.

Sri Lanka: President's National People's Power Party Secures Landslide Victory

A high-level team from the International Monetary Fund (IMF) is set to arrive in Sri Lanka on Oct. 2 to meet with the new President Anura Kumara Dissanayake to discuss Sri Lanka's economic developments and reforms, The Business Standard reported Oct. 1.

Sri Lanka: IMF to Meet Sri Lanka's New President on Economic Reforms

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Damage on Feb. 13 in the Jabaliya refugee camp in northern Gaza.

Israel-Hamas Conflict

Russia-Ukraine Conflict

Social Issues

A look at what the coming week will bring -- and a list of recommended RANE articles from the week that was.

The Weekly Rundown: Mideast Ceasefires and Arab Gaza Proposals, the AU Summit

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U.S. President Joe Biden and President Joao Lourenco of Angola on Nov. 30, 2023, at the White House. Biden on Dec. 2-4 will visit Angola, where he will focus on the Lobito Corridor project that aims to refurbish and expand railways connecting critical mineral-rich regions in Zambia and the Democratic Republic of Congo with the Angolan port of Lobito.

U.S.-China Relations

The Weekly Rundown: Biden Visits Angola, von der Leyen's Second Term

Iran

Bangladesh

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U.S. President-elect Donald Trump (R) and India's Prime Minister Narendra Modi (L) arrive for a joint press conference at Hyderabad House in New Delhi, India, on Feb. 25, 2020.

Environment, Science & Technology

Science & Technology

While U.S. President-elect Donald Trump will maintain many of the outgoing Biden administration's overarching policies toward South Asia, bilateral relationships will grow increasingly transactional.

What Trump's Second Term Means for South Asia

A session is held in Sri Lanka's Parliament in Colombo on Aug. 20, 2020. 

Global Elections

The ballot could bolster the new president's ability to enact his socialist agenda, though it may also yield a hung parliament that leads to more government instability.

Previewing Sri Lanka's Parliamentary Elections

Japan

A ballot is cast in front of the Japanese flag. On Nov. 11, the country will select a prime minister and convene an extraordinary session of its bicameral Diet.

The Weekly Rundown: Japan Selects a Prime Minister, Trump's Shadow Looms Over COP29

Anura Kumara Dissanayake (center) gestures as he leaves the office of Sri Lanka's Election Commission in Colombo on Sept. 22, 2024, following his victory in the country's presidential election. 

President Dissanayake's left-wing agenda will run up against IMF commitments and an opposition-controlled parliament, raising the risk of a snap ballot that could reshape the island nation's political landscape.

What Challenges Lay Ahead for Sri Lanka's New President?

Germany

The site of an Israeli strike on Sept. 19 in the southern Lebanese border village of Mahmoudiyeh. Fighting between Israel and Hezbollah will continue to intensify in the next week.

The Weekly Rundown: Escalating Israel-Hezbollah Conflict, the Sri Lankan Presidential Election

Differing views on the country's agreement with the IMF and austerity measures, social issues involving Tamils and Muslims, and balancing relations with India and China heighten the risk of social unrest, delays in financial support, and uncertainty in economic planning and reforms. 

Sri Lankan Presidential Candidates Face an Electorate Upset by the Economy

2024 Elections: Sri Lanka 

Sri Lanka's Sept. 21 presidential election will pit four candidates against one another, portending various political and economic risks.

2024 Elections: Sri Lanka

(From left to right) Peter Breuer, International Monetary Fund (IMF) Mission Chief for Sri Lanka, speaks next to Krishna Srinivasan, the Director of the IMF's Asia and Pacific Department, during a press conference in Colombo, Sri Lanka, on May 15, 2023. 

The IMF will likely approve the next tranche of Sri Lanka's $2.9 billion bailout. But if Colombo fails to reach a deal with its bondholders in the coming months, future disbursements may be at risk.

What's at Stake As Sri Lanka Struggles To Restructure Its Debt

The International Monetary Fund (IMF) headquarters building is seen in Washington, D.C. 

To keep the country's economic recovery on track, Colombo will likely seek to unlock the delayed next tranche of its bailout package by enacting more reforms, though this risks public backlash.

What's Next for Sri Lanka After Its Failed IMF Review?

Media

Graphics

A man enters a foreign currency exchange shop in Islamabad, Pakistan, on July 11, 2023.

Inflation remains high in several South Asian countries amid political and economic constraints on reform.

Inflation Rates Across South Asia

The island of Sri Lanka lies twenty miles off the southeastern tip of India. Slightly smaller than Ireland, the country sits at the center of the Indian Ocean, just northeast of the Maldives island chain.     Sri Lanka is divided into two geographic zones.     The southwest of the island is Sri Lanka's core. It consists of the inland Central Highlands, flanked to the west by Colombo's seaside lowlands. This area receives most of the island's rainfall and is the country's agricultural heartland, producing rice for food consumption and its cash crops: coconut, tea and rubber. It also contains the island's gem and graphite deposits. Colombo has a deep natural harbor, which receives substantial traffic from nearby shipping lanes.      The northern part of the island is divided into the inland Vanni region and the Jaffna Peninsula on Palk Bay. The north is dry and agriculture is only possible because of large, ancient reservoirs. Fishing is the primary economic activity. The north is connected to India by a chain of islands and sandbars known as Adam's Bridge, which has historically eased the movement of goods and people to and from the mainland.      Sri Lanka's main geographic challenge is to protect its core around Colombo, while promoting integration with the north. The most recent challenge to Colombo's dominance was from the Tamil Tigers insurgent group, who used the Vanni region and Jaffna peninsula regions as bases to mount terrorist attacks. Uniting the north with the core will allow Colombo to take advantage of low-end manufacturing leaving China, using its underdeveloped north as a source of cheap labor.

SITUATION REPORTS

India, Sri Lanka: Modi To Visit Sri Lanka on April 5

Sri Lanka: IMF Executive Board Approves Third Review of Sri Lanka's $2.9B Bailout

Sri Lanka: Budget Attempts To Balance Populist Appeals With IMF Bailout Conditions

Sri Lanka: Government To Fast-Track $3.7B Refinery With China's Sinopec

India, Sri Lanka: Sri Lanka's Dissanayake Makes First Overseas Visit to India

Sri Lanka: New Government Reaches Staff-Level Agreement With IMF

Sri Lanka: President's National People's Power Party Secures Landslide Victory

Sri Lanka: IMF to Meet Sri Lanka's New President on Economic Reforms

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