Economy

Protesters carry traditional kerosene lanterns during a demonstration against fuel price increases in Dhaka. Kerosene now costs the equivalent of about $1.20 per liter, versus 84 cents before hikes on several types of fuel. (Photo by Mahmud Hossain Opu)
Politics

Bangladesh anger over fuel prices echoes Sri Lanka, Pakistan

Political pressure mounts as nation joins neighbors in seeking IMF aid

17 August 2022
A doctor prepares to inspect a patient in Colombo: Medical professionals have been sounding the alarm for months over shortages of life-saving drugs and equipment.
Sri Lanka crisis

Sri Lanka health chief downplays drug shortage as doctors fret

'We can't go on like this,' says medical union spokesman

13 August 2022
Sri Lankans wait for fuel rations at a gas station in Colombo. Some have resorted to selling on the black market to those who are willing and able to pay more. (Photo by Kanika Gupta)
Sri Lanka crisis

Sri Lanka's black market for fuel churns alongside mileslong lines

Authorities clamp down as some ask, 'How else will we feed our families?'

9 August 2022
Jaya Container Terminal in Colombo: The government should look to list shares of profitable state companies such as the Sri Lanka Ports Authority on the local stock exchange to draw foreign capital. (Photo from Sri Lanka Ports Authority's home page)  
Opinion

Asian financial crisis lessons offer recovery path for Sri Lanka

Smart policies can help rebuild energy supplies, protect banks and draw capital

2 August 2022
A man pushes an out-of-gas autorickshaw in Colombo on July 27: Sri Lanka is looking to China and others to ease the economic crisis that has resulted in dire shortages of fuel and other essentials.
Sri Lanka crisis

Sri Lanka hopes for $4bn in China aid 'soon' as envoy defends ties

Ambassador insists Beijing is supportive; new president extends protest clampdown

28 July 2022
People wait to collect their passports at Sri Lanka's Immigration and Emigration Department in June. Issuances in 2022 have already topped the full-year figure for 2021.
Sri Lanka crisis

Sri Lankans chase foreign jobs to help families survive inflation

Passport issuances jump as weak rupee offers chance to maximize remittances

26 July 2022
Security personnel stand guard near Sri Lanka's presidential secretariat in Colombo after a raid on an anti-government protest camp early on July 22.
Sri Lanka crisis

Sri Lanka crackdown overshadows new PM's swearing-in

Fears of more clashes as president picks Rajapaksa ally Gunawardena for premier

22 July 2022
New Sri Lankan President Ranil Wickremesinghe has taken office in the midst of a deep economic crisis.
Sri Lanka crisis

How much does Sri Lanka owe China? Question looms over new president

Broad measure puts Beijing's share at 20% of national total, above official data

22 July 2022
Ranil Wickremesinghe, center, Sri Lanka's new president, leaves a Buddhist temple on July 20 as he prepares to attempt to solve the country's economic crisis.
Sri Lanka crisis

Meet Wickremesinghe: Sri Lankan president sworn in as doubts swirl

'Man with no mandate' faces Asia's toughest economic challenge

21 July 2022
Sri Lanka's Prime Minister Ranil Wickremesinghe has won a parliament vote to become the country's president.
Sri Lanka crisis

Sri Lanka's Wickremesinghe elected president after Rajapaksa exit

Security tight as six-time PM has already faced heavy pressure from protesters

20 July 2022
IMF Managing Director Kristalina Georgieva: "The moment there is a government that we can continue our discussions with, our team will be there." (Photo by Kosuke Imamura)
Sri Lanka crisis

IMF hopes to complete Sri Lanka aid talks 'as quickly as possible'

Georgieva says global outlook to be downgraded as recession risk 'has gone up'

20 July 2022
Dawn breaks over Sri Lanka's blockaded presidential secretariat in Colombo on the morning of July 15, when President Gotabaya Rajapaksa's long-awaited resignation became official.
Sri Lanka crisis

Sri Lanka eyes Rajapaksa successor: 5 things about life after Gota

Experts warn next leader faces 'mammoth task' but must restore stability

15 July 2022
Tear gas rises as demonstrators gather outside the Colombo office of Sri Lanka's Prime Minister Ranil Wickremesinghe on July 13.
Sri Lanka crisis

Sri Lanka rages at PM after President Rajapaksa flees to Maldives

With 'Terminator' gone, Wickremesinghe declares emergency as acting president

13 July 2022
Auto rickshaw drivers line up to buy gas near a fuel station in Colombo on April 13: A forewarning that more vulnerable countries could go bust.
Opinion

Ukraine war hastens Sri Lanka's economic meltdown

Impact of Russian sanctions likely to be felt by a string of poorer nations

13 July 2022
A shortage of kerosene has robbed Sri Lankan fishermen of their livelihoods. (Photo by Prabhu Mallikarjunan)
Sri Lanka crisis

Sri Lankan fishermen, lacking fuel, stew over India's intentions

As incomes dry up amid political chaos, simmering territorial dispute rears head

11 July 2022
Sri Lanka's President Gotabaya Rajapaksa in 2021. 
Sri Lanka crisis

Sri Lanka President Rajapaksa to resign Wednesday: parliament speaker

'Unprecedented' unrest the final straw after months of economic turmoil

10 July 2022
Xi Jinping during the welcome banquet of the Belt and Road Forum in Beijing in April 2019: China has few good options to climb out of the hole it has dug for itself.
Opinion

China can turn debt trap of its own making into historic opportunity

Beijing should cut its losses and focus on salvaging its reputation

24 June 2022
From a Maldives bond payment to India's central bank meeting and Pakistan's upcoming budget, South Asia's economic strain is in focus.
Asia Insight

Beyond Sri Lanka, economic cyclone bears down on South Asia

From Pakistan to Maldives, forex and debt risks grow as inflationary headwinds build

7 June 2022
Police use tear gas to disperse Medical University students during a protest demanding President Gotabaya Rajapaksa to step down, near the President's House, amid the country's ongoing economic crisis, in Colombo on May 29. 
Sri Lanka crisis

Sri Lanka PM proposes more cabinet accountability amid economic crisis

Move comes after weeks of street protests triggered by the country's economic crisis

30 May 2022
Thai Prime Minister Prayuth Chan-ocha says the U.S.-led Indo-Pacific Economic Framework initiative is "solid proof of how important and relevant Asia is today." (Photo by Tomoki Mera) 
The Future of Asia 2022

Thailand's Prayuth: Open, rules-based Asia key to post-COVID growth

Singapore's Lee warns of arms race, Malaysia PM highlights supply risks at Nikkei forum

26 May 2022
Yi Xiaozhun, China's former vice minister of commerce, warns the Ukraine war could trigger economic problems comparable to the 2008 financial crisis. (Photo by Tomoki Mera) 
The Future of Asia 2022

China ex-official warns of Ukraine war's impact on Asian trade

Economic setback may be similar to 2008 financial crisis, says former WTO envoy

26 May 2022
Yun Duk-min, chair-professor at Hankook University of Foreign Studies, is expected to become South Korea's ambassador to Japan. (Photo by Suzu Takahashi) 
The Future of Asia 2022

South Korea to restore Japan ties 'as soon as possible,' next envoy says

On North Korea, Yun Duk-min says U.N. is 'paralyzed' due to Ukraine issue

26 May 2022
Thai Prime Minister Prayuth Chan-ocha says Asia must revive growth by "keeping the market open and inclusive." (Photo by Suzu Takahashi) 
The Future of Asia 2022

Thai PM Prayuth says states 'must support' multilateral trading systems

Digitalization, clean energy will be 'key drivers' for economic growth

26 May 2022
Sri Lankan President Gotabaya Rajapaksa calls for international help in a prerecorded speech during Nikkei's Future of Asia conference.
The Future of Asia 2022

Sri Lanka president calls for international help as crisis swirls

Supporting vulnerable nations bolsters global stability, says Rajapaksa

26 May 2022
Vietnam's Deputy Prime Minister Pham Binh Minh says Asia "should strengthen its sense of responsibility in creating and maintaining a peaceful environment." (Photo by Suzu Takahashi) 
The Future of Asia 2022

Vietnam Deputy PM urges world to 'put aside' disagreements

Asia needs stronger 'sense of responsibility' to maintain peace, pursue prosperity

26 May 2022