Sri Lanka's worst economic crisis: Top developments

NEW DELHI: Sri Lanka is currently struggling with acute food and electricity shortages and the recession is attributed to foreign exchange shortages caused by a clampdown on tourism during the Covid-19 pandemic.
The country is unable to buy sufficient fuel and gas, while the people are being deprived of basic amenities as well.
As the economic crisis in Sri Lanka is worsening day by day, several people including those jobless are participating in the protest against the government to get two-times meals.
Here are the top developments-
Sri Lanka holds rates, says recent tightening will moderate inflation
The Central Bank of Sri Lanka held its key lending and borrowing rates steady on Thursday following a massive 700 basis points increase at its previous meeting and reiterated the need for more fiscal measures and political stability in the economy.
The Standing Lending Facility rate remained unchanged at 14.50% while the Standing Deposit Facility Rate was steady at 13.50%.
CID interrogates four MPs over attack on protesters in Temple Trees, Gale Face
Sri Lanka's team of Criminal Investigations Department (CID) officers on Wednesday questioned four MPs, including former Ministers Rohitha Abeygunawardena and CB Ratnayake, over the violence near Temple Trees and Galle Face Green in Colombo, a local media reported.
The inquiry team arrived at the Parliament complex on Wednesday's morning with the permission of the Speaker to record the statements of ministers. Earlier, they have recorded the statements of Sahan Pradeep and Sanjeewa Edirimanne.
The investigation team recorded the statements of the four MPs following a notice issued by the court, Colombo Page reported.
Sri Lankan economic crisis brings opportunity for Indian tea industry
Gripped by a severe economic crisis, Sri Lanka, a major player in the global tea market, has not been able to export tea, creating an opportunity for the Indian tea industry to tap the market.
The tea traders of North Bengal said that the present condition in Sri Lanka, which has been unable to export its tea, can create opportunities for the new market in India.
If the situation continues like this in Sri Lanka, the Indian market will boom, and people who look for good quality India can offer them as it produces good quality tea, Kamal Kumar Tiwari, Chairman of the Siliguri Tea Auction Committee and Trader said.
India assures countries 'most in need'; it will provide food aid despite export controls
Minister of State for External Affairs, V. Muraleedharan has given an assurance that despite restrictions on exports, India will provide food to countries that "are most in need" because of the Ukraine conflict.
"Let me make it clear that these measures allow for export on the basis of approvals to those countries who are required to meet their food security demands," he said on Wednesday explaining India's food export policy at the Ministerial Meeting on "Global Food Security Call to Action" convened by US Secretary of State, Antony Blinken.