Half the problem
One change that needs to be made here is that it should only be possible to sue for libel over something written and published in the country, not something published elsewhere that someone brought over in their bag, imported mail order or was reproduced on the web.
But that would run the libel tourism gravy train into the buffers, so it ain't going to happen.
The other change that desperately needs to made is that it should be abso-bloody-lutely, 100% impossible for something to be considered libellous if it's, er, true*. Personally I think it should be down to the plaintiff to prove that, on the balance of probability, it isn't.
*So it should be perfectly ok to describe someone convicted of fraud as a "convicted fraudster" or a "crook" even if they are considering an appeal or have one pending. I mention no names, for obvious reasons, but if it helps any the conviction I'm thinking of is a French one.....