Sri Lanka

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
Sri Lanka's Sapugaskanda oil refinery near Colombo: A shipment of Russian crude has given the facility a new lease on life.
Sri Lanka crisis

Cash-strapped Sri Lanka looks to Russia to quench thirst for oil

Desperate South Asian country unlikely to face repercussions, analysts say

2 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
Malaysian Prime Minister Ismail Sabri Yaakob says Southeast Asia is "one of the most vulnerable regions to the effects of climate change." (Photo by Suzu Takahashi) 
26 May 2022
Singaporean Prime Minister Lee Hsien Loong speaks at Nikkei's Future of Asia conference on May 26. (Photo by Tomoki Mera) 
The Future of Asia 2022

Singapore PM Lee warns of nuclear 'arms race' amid Ukraine war

U.S.-China tensions risk splitting supply chains or 'worse unintended consequences'

26 May 2022
A damaged bust of D.A. Rajapaksa, father of both the president and the former prime minister, lies amid wreckage at a museum in the family stronghold of Hambantota on May 11.
Asia Insight

Flight of the Rajapaksas: Sri Lankan dynasty faces reckoning

Accused of mismanagement and corruption, the nation's top clan is down but not out

24 May 2022
Stream article image
Podcast

Asia Stream: Asia's Inflation Dilemma

Rising prices are hurting wallets across the world. The crisis is particularly bad in Sri Lanka and Turkey, and in Japan, people are facing inflation for the first time in decades.

20 May 2022
Sri Lankans wait to buy kerosene in Colombo on May 18. The country's central banker says some funds have been secured to enable ships to replenish supplies.
Sri Lanka crisis

Sri Lanka's central bank chief confirms first foreign bond default

Weerasinghe offers hope on fuel crunch, points to political stability 'improvement'

19 May 2022
One economist told Nikkei Asia that privatizing loss-making SriLankan Airlines was "long overdue."
Sri Lanka crisis

Sri Lanka pushes airline privatization as debt grace period ends

Experts welcome PM's plan for national carrier despite doubts over finding buyer

18 May 2022
A demonstrator raises a placard as part of a protest against Sri Lankan President Gotabaya Rajapaksa in Colombo on April 23.
Sri Lanka crisis

Nepotism, bad policy push Sri Lanka to brink of economic ruin

Some blame China's 'debt trap diplomacy' but reasons for crisis are legion

15 May 2022
Chinese Foreign Minister Wang Yi watches as bilateral agreements are exchanged with Sri Lanka in Colombo in January.
Sri Lanka crisis

Sri Lanka meltdown exposes China loan policy: 5 things to know

Beijing could complicate Colombo's IMF talks as other borrowers watch closely

13 May 2022
Ranil Wickremesinghe, newly appointed prime minister, arrives at a Buddhist temple after his swearing-in ceremony in Colombo on May 12.
Sri Lanka crisis

Embattled Sri Lanka president replaces prime minister in closed ceremony

Gotabaya Rajapaksa turns to past PM Wickremesinghe as economy teeters on brink

13 May 2022
Anti-government demonstrators watch a house -- owned by a minister in former Prime Minister Mahinda Rajapaksa's cabinet -- burn on May 9.
Sri Lanka crisis

Sri Lanka asks, 'What now?' after PM exit and night of fiery chaos

Opposition debates future as protesters insist President Rajapaksa must go too

10 May 2022
Sri Lankan Prime Minister Mahinda Rajapaksa says he has tendered his resignation to his brother, President Gotabaya Rajapaksa.
Politics

Sri Lanka PM Mahinda Rajapaksa tenders resignation as economy burns

Curfew imposed after clashes between government supporters and protesters

9 May 2022
Indian Prime Minister Narendra Modi attends a news conference in Berlin on Monday.
International relations

Sri Lanka, Nepal woes are both headache and opportunity for India

New Delhi's aid to neighbors key in countering China's 'pound of flesh' strategy

6 May 2022
Gotabaya Rajapaksa, left, and his brother Mahinda Rajapaksa in Colombo in Octobe 2019: Political pressure is growing on the Rajapaksas to either step down or enact political reforms.
Opinion

U.S. should push the Quad to help Sri Lanka

One area of possible collaboration is food security

5 May 2022
 People wait in a queue to buy kerosene oil at a fuel dispensing station on Tuesday in Gampola, Sri Lanka.
Sri Lanka crisis

Broke, downgraded and begging: Sri Lanka pays price for missteps

South Asian nation's economic crisis draws comparisons with Lebanon's meltdown

29 April 2022
Protesters tussle with police outside Sri Lankan Prime Minister Mahinda Rajapaksa's residence in Colombo amid the country's economic crisis.
Finance

Sri Lanka says World Bank agrees to $600m in financial aid

South Asian country also needs bridge funding to meet essential expenses

27 April 2022