IMF also asked countries around the world to coordinate policies to achieve a global rebalancing and sustain the recovery.
The five-time prime minister was re-appointed to the job on May 12 following the political circus precipitated by the unprecedented economic crisis in the island's history.
Watch all the action from both House of the Parliament.
The southern deep-sea port of Hambantota is considered strategically important for its location.
Angry protests in Colombo as Sri Lanka grapples with its worst ever economic crisis.
Prime Minister Manmohan Singh on Monday said the impact of the global economic slowdown is not as bad on India as on other countries since the government had taken measures to stimulate the economy to ensure that high growth pattern was restored soon.
Prime Minister Manmohan Singh is likely to discuss the impact of global demand contraction on Indian economy with industry leaders in New Delhi on Saturday, ahead of the G-20 summit in London next week.
The global financial crisis sweeping through Wall Street and European banking sector will touch the lives of the world's most vulnerable, push millions into deeper poverty and lead to the deaths of thousands of children, a new United Nations study said.
Infosys Chairman Narayan Murthy equated the present economic crisis in the US to the Great Depression. "The present crisis in the US reminds me of the 1929 depression. More signals are emanating of the 1929 depression than the 70s' one. I have a suspicion that it (the present crisis) could be a longer one," he said. A recovery from the present crisis may take longer than 18 months, he said.
The government's poor handling of the economic crisis where people currently endure long hours of power outages and scarcity of essentials has angered the public which planned country-wide protests on Sunday.
There have been growing calls for President Rajapaksa's resignation over the past few weeks over his government's mishandling of Sri Lanka's worsening economic crisis.
The 73-year-old United National Party was appointed as the prime minister by President Gotabaya Rajapaksa after they held closed-door discussions on Wednesday.
Glimpses of the protests in Colombo against the worsening economic crisis
The dissidents, led by former president Sirisena's Sri Lanka Freedom Party, would leave the ruling Sri Lanka Podujana Peramuna coalition with its 14 Members of Parliament, party sources said after their meeting with the President on Monday.
'The economic crisis hit us from nowhere. No one saw it coming.'
The Director of the Peradeniya Hospital in the central district of Kandy on Monday announced the temporary suspension of all routine surgeries due to the shortage of medicine.
Anti-government protesters in Sri Lanka on Tuesday set up a checkpoint on the road leading to the Bandaranaike International Airport in Colombo to prevent the Rajapaksa family loyalists from fleeing the country, as violence and widespread protest continued against the regime over the country's worst economic crisis in decades.
Sri Lankans queued up to apply for fresh passports outside the department of immigration and emigration office in Colombo.
The violence occurred following reports on Monday that Mahinda Rajapksa may offer to stand down as Prime Minister.
Sri Lanka's new Finance Minister Ali Sabry on Tuesday resigned, a day after President Gotabaya Rajapaksa appointed him after sacking his brother Basil Rajapaksa amidst the island nation's worst economic crisis.
A unique protest has been launched by protestors in Sri Lanka with underwear placed on the temporary metal barriers erected to block protesters at the main entrance to the island's parliament.
The ex-president returned to Sri Lanka on a Singapore Airlines flight.
Sri Lanka is going through the worst economic crisis since independence in 1948. A crippling shortage of foreign reserves has led to long queues for fuel, cooking gas and other essentials while power cuts and soaring food prices heaped misery on the people.
The all-party meeting aimed at reconciliation and conferring full powers to Sri Lanka's provincial councils will be reconvened in a month after initial deliberations on Wednesday failed to yield any agreements, party officials said on Thursday.
Sri Lankan police on Monday came under pressure to arrest the Rajapaksa family loyalists involved in attacks on peaceful protesters last week, even as it arrested over 200 people on various charges following the violence that left nine people dead.
Ranil Wickremesinghe -- six times Sri Lanka's prime minister -- realised his long cherished dream when he arrived on Wednesday, August 3, 2022, to inaugurate the country's parliament, finally as its president.
Embattled Sri Lankan President Gotabaya Rajapaksa had declared a state of emergency with effect from May 6 midnight, the second time in just over a month amidst growing countrywide anti-government protests over the economic crisis.
Kakar, a lawmaker belonging to Balochistan Awami Party (BAP), will lead a caretaker government until a new election later this year.
China will not be allowed to use the southern port of Hambantota for military purposes, Sri Lankan President Ranil Wickremesinghe has said, apparently attempting to allay fears in India and the United States about China's increasing maritime presence in the strategic Indo-Pacific region.
The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
Democratic Left Front politician Nanayakkara was among the 42 members who declared independence in Parliament from the ruling Sri Lanka Podujana Peramuna (SLPP) coalition.
'This is how it works in Delhi. Step One: Wait for a shortage to develop. Step Two: Run around squawking until the deafest trader on the global markets has had the message drummed into his ears. Step Three: Engage in panic buying from abroad at suitably inflated prices.'
Sticking onto his stance of calling the allegations against him 'false', AAP leader Manish Sisodia in his resignation letter said that it is unfortunate that despite working with honesty and truthfulness continuously for eight years, corruption charges are being levelled against him.
Mahinda Rajapaksa, along with his wife and family, fled his official residence -- Temple Trees -- and took shelter at the naval base in Trincomalee.
The exchange rate is substantially overvalued, economic growth had stalled, and the financial system is under stress.
The move is aimed at preventing masses from gathering in Colombo to protest the government's failure to provide relief to the public suffering from shortages of food, essentials, fuel and medicine amidst hours-long power cuts, the Colombo Page newspaper reported.
The opposition alliance that will take on the ruling National Democratic Alliance in the 2024 Lok Sabha elections will be called Indian National Developmental Inclusive Alliance (INDIA) and an 11-member committee will be set up for coordination, Congress president Mallikarjun Kharge announced after a meeting of the parties in Bengaluru.
India on Sunday said it stands with the Sri Lankan people in their aspirations for prosperity and progress through democratic means, established institutions and constitutional framework.
The anti-government protesters in Sri Lanka on Sunday continued to occupy the residences of President Gotabaya Rajapaksa and Prime Minister Wickremesinghe, a day after they stormed into the premises and set on fire one of the buildings protesting over the nation's severe economic crisis even as the island nation is still in the dark about the embattled President's whereabouts.
Sri Lankan Prime Minister Mahinda Rajapaksa resigned on Monday, hours after his supporters attacked anti-government protesters outside embattled President Gotabaya Rajapaksa's office, leaving at least 78 people injured and prompting authorities to impose a nationwide curfew and deploy army troops in the capital.
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