• Home
  • Insight
  • Blog
  • Business
  • Entertainment
  • Health
  • Politics
  • Shop
    • Gift Shop
    • Value Shop
    • Store
    • Bargain Shop
    • Discount
  • Sports
  • Tech
  • Travel
  • USA
  • Video
  • World
    • Asia
    • Africa
    • South America
    • North America
    • Europe
    • Oceania
Thursday, September 24, 2026
No Result
View All Result
Subscribe Now
  • Home
  • Insight
  • Blog
  • Business
  • Entertainment
  • Health
  • Politics
  • Shop
    • Gift Shop
    • Value Shop
    • Store
    • Bargain Shop
    • Discount
  • Sports
  • Tech
  • Travel
  • USA

    Onetime ‘world’s youngest hacker’ arrested on suspicion of antisemitic vandalism of SoCal homes

    FDA advisory panel to vote on a multi-cancer blood test : NPR

    UC Berkeley student allegedly chased home on video by man police can’t arrest

    Trump’s U.N. Speech Comes at a Time of Tumult

    Charges for Alex Pretti and Rene Good Killers Loom Over Minneapolis DA Race

    Federal Aviation Administration to deploy AI at Washington-area airports

    Court squashes Reese’s faceless pumpkin lawsuit

    MS NOW, CNN, Politico reporters barred from White House after Trump announces ban

    Trump and GOP Will Face a ‘Reckoning’ this November

  • Video
  • World
    • Asia
    • Africa
    • South America
    • North America
    • Europe
    • Oceania
The Insight Post
  • Home
  • Insight
  • Blog
  • Business
  • Entertainment
  • Health
  • Politics
  • Shop
    • Gift Shop
    • Value Shop
    • Store
    • Bargain Shop
    • Discount
  • Sports
  • Tech
  • Travel
  • USA

    Onetime ‘world’s youngest hacker’ arrested on suspicion of antisemitic vandalism of SoCal homes

    FDA advisory panel to vote on a multi-cancer blood test : NPR

    UC Berkeley student allegedly chased home on video by man police can’t arrest

    Trump’s U.N. Speech Comes at a Time of Tumult

    Charges for Alex Pretti and Rene Good Killers Loom Over Minneapolis DA Race

    Federal Aviation Administration to deploy AI at Washington-area airports

    Court squashes Reese’s faceless pumpkin lawsuit

    MS NOW, CNN, Politico reporters barred from White House after Trump announces ban

    Trump and GOP Will Face a ‘Reckoning’ this November

  • Video
  • World
    • Asia
    • Africa
    • South America
    • North America
    • Europe
    • Oceania
No Result
View All Result
No Result
View All Result
Home Business

Sri Lanka marks independence anniversary amid economic woes

by Theinsightpost
February 4, 2023
in Business
0 0
0
Sri Lanka marks independence anniversary amid economic woes

Sri Lanka’s President Ranil Wickremesinghe attends the the country’s 75th Independence Day celebrations at Galle Face Green in Colombo, Sri Lanka February 4, 2023.

Nurphoto | Nurphoto | Getty Images

COLOMBO, Sri Lanka (AP) — Sri Lanka marked its 75th independence anniversary on Saturday as a bankrupt nation, with many citizens angry, anxious and in no mood to celebrate.

Many Buddhists and Christian clergy had announced a boycott of the celebration in the capital, while activists and others expressed anger at what they see as a waste of money in a time of severe economic crisis.

Despite the criticism, armed troops paraded along the main esplanade in Colombo, showcasing military equipment as navy ships sailed in the sea and helicopters and aircraft flew over the city.

Catholic priest Rev. Cyril Gamini called this year’s ceremony commemorating independence from British rule a “crime and waste” at a time when the country is experiencing such economic hardship.

“We ask the government what independence they are going to proudly celebrate by spending a sum of 200 million rupees ($548,000),” said Gamini, adding the Catholic Church does not condone spending public money on the celebration and that no priest would attend the ceremony.

About 7% of Sri Lanka’s 22 million people in this Buddhist-majority nation are Christians, most of them Catholics. Despite being a minority, the church’s views are respected.

Prominent Buddhist monk Rev. Omalpe Sobitha said there is no reason to celebrate and that the ceremony is just an exhibition of weapons made in other countries.

Sri Lanka is effectively bankrupt and has suspended repayment of nearly $7 billion in foreign debt due this year pending the outcome of talks with the International Monetary Fund.

The country’s total foreign debt exceeds $51 billion, of which $28 billion has to be repaid by 2027. Unsustainable debt and a severe balance of payment crisis, on top of lingering scars from the COVID-19 pandemic, have led to a severe shortage of essentials such as fuel, medicine and food.

The shortages led to protests last year that forced then-President Gotabaya Rajapaksa to flee the country and resign.

There have been signs of improvement under President Ranil Wickremesinghe, but power cuts continue due to the fuel shortages, hospitals face medicine shortages and the treasury is struggling to raise money to pay government employees’ salaries.

The economic crisis has made people angry and apathetic toward political leaders.

To manage the country’s expenses, the government has increased income taxes sharply and has announced a 6% cut in funds allocated to every ministry this year. Also, the military, which had swelled to more than 200,000 members amid a long civil war, will be downsized by nearly half by 2030.

A group of activists began a silent protest on Friday in the capital, condemning the government’s independence celebration and failure to ease the economic burden.

ShareTweetSend
Previous Post

100 Boda boda operators graduate from road safety training … – Kenya News Agency

Next Post

Twitter killed CoTweets before their first birthday

Related News

Business

I have no idea how Meta made a VR headset that’s 83% lighter and 60% smaller than Apple Vision Pro, but I’m all here for it

September 23, 2026
Business

Leak threatens major price hike for the Galaxy Tab S12 Ultra and Tab S12+ in India

September 23, 2026
Business

Top 5 Alternatives to the Poco F9 Ultra in 2026

September 22, 2026
Business

One of the most powerful weather apps for iPhone just came to CarPlay

September 22, 2026
Next Post
Twitter killed CoTweets before their first birthday

Twitter killed CoTweets before their first birthday

Discussion about this post

Subscribe To Our Newsletters

    Customer Support


    1251 Wilcrest Drive
    Houston, Texas
    77042 USA
    Call-832.795.1420
    e-mail – news@theinsightpost.com

    Subscribe To Our Newsletters

      Categories

      • Africa
      • Africa-East
      • African Sports
      • American Sports
      • Arts
      • Asia
      • Australia
      • Business
      • Business Asia
      • Business- Africa
      • Canada
      • Defense
      • Education
      • Egypt
      • Energy
      • Entertainment
      • Europe
      • European Soccer
      • Finance
      • Germany
      • Ghana
      • Health
      • Insight
      • International
      • Investing
      • Japan
      • Latest Headlines
      • Life & Living
      • Markets
      • Mobile
      • Movies
      • New Zealand
      • Nigeria
      • Politics
      • Scholarships
      • Science
      • South Africa
      • South America
      • Sports
      • Tech
      • Travel
      • UK
      • USA
      • Weather
      • World
      No Result
      View All Result

      Recent News

      Tennessee man sues police for arrest over filming, criticizing speeding officer

      September 24, 2026

      Brisbane’s Lachie Neale free to play in AFL grand final after Appeal Board overturns his striking ban

      September 24, 2026

      Commonwealth University of Pennsylvania could cut 175 jobs

      September 24, 2026

      10 Must-See Sci-Fi Movies Streaming Now on Netflix, Prime, Hulu & Disney+ (2025)

      September 24, 2026
      • Home
      • Advertise With Us
      • About Us
      • Corporate
      • Consumer Rewards
      • Forum
      • Privacy Policy
      • Social Trends

      Theinsightpost ©2026 | All Rights Reserved. Theinsightpost is an Elnegy LLC company, registered in Texas, USA

      Welcome Back!

      Login to your account below

      Forgotten Password?

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In

      Add New Playlist

      We are using cookies to give you the best experience on our website.

      You can find out more about which cookies we are using or switch them off in .

      No Result
      View All Result
      • Home
      • Insight
      • Blog
      • Business
      • Entertainment
      • Health
      • Politics
      • Shop
        • Gift Shop
        • Value Shop
        • Store
        • Bargain Shop
        • Discount
      • Sports
      • Tech
      • Travel
      • USA
      • Video
      • World
        • Asia
        • Africa
        • South America
        • North America
        • Europe
        • Oceania

      Theinsightpost ©2026 | All Rights Reserved. Theinsightpost is an Elnegy LLC company, registered in Texas, USA

      The Insight Post
      Powered by  GDPR Cookie Compliance
      Privacy Overview

      This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

      Strictly Necessary Cookies

      Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

      Cookie Policy

      More information about our Cookie Policy