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[…]The post SL Debt Justice Collective Writes Open Letter To IMF On DDO appeared first on Colombo Telegraph.
[…]The post The Apologetic Custodian Of The EPF Is Also A Victim appeared first on Colombo Telegraph.
[…]The post Politics Of Easter Investigation In A Wriggling Economy appeared first on Colombo Telegraph.
Manusha Nanayakkara, the Minister of Labour and Foreign Employment, confirmed that the existing 9% employee benefit related to the Employee Provident Fund will remain unchanged.The post No harm to the Employee Provident Fund – Manusha appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Shihar Aneez ECONOMYNEXT –The Central Bank of Sri Lanka (CBSL) informed the members of the EPF, the country’s largest pension scheme, that it has opted for the government’s domestic debt optimization (DDO) option with a long-term view in the best interest of the members. It said the two options
The Employees Provident Fund (EPF) has submitted an offer to exchange the portfolio of their Treasury Bonds under the Domestic Debt Optimisation (DDO) programme, the Central Bank of Sri Lanka (CBSL) reported today (13 Sep.).
[…]The post System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
[…]The post The Misunderstood Taxation Of EPF & Other Superannuation Funds appeared first on Colombo Telegraph.
When the five days long stretch of holidays ended last week and the Colombo bourse reopened for trading on Tuesday, the market surged 6.71 percent (633.69 points up) on the broad All Share Price Index (ASPI) while the Standard and Poor SL 20 index covering the 20 largest and more liquid companies quoted on the […]
By Rathindra Kuruwita Unless Sri Lanka addressed its governance issues, the country would have to restructure its debt again like most countries that had unsustainable levels of corruption, Executive Director of Verité Research Nishan de Mel said in a recent televised interview. Dr. De Mel said that as the government had decided to pay the […]
[…]The post Involuntary & Inequitable DDO appeared first on Colombo Telegraph.
Sri Lankan state can’t allow even a small bank to collapse because that will trigger a bank run with a devastating impact on the economy. Governor of the Central Bank of Sri Lanka CBSL) Dr. Nandalal Weerasinghe said, on Thursday night, taking part in a televised discussion. Dr. Weerasinghe said that Domestic Debt Restructuring (DDR) […]
Banks, which pay taxes over 50%, least affected By Sanath Nanayakkare If the Employees’ Provident Fund (EPF) and other pension funds did not wish to participate in the proposed domestic debt restructuring process, there will be an application of higher annual income tax of 30%, Central Bank
[…]The post Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? appeared first on Colombo Telegraph.
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
[…]The post Can Sri Lanka Drive Itself From Bankruptcy To Prosperity In 2023? appeared first on Colombo Telegraph.
Fear of a DDR/IFR event drive rates even higher
[…]The post JR & Expert Advice: Failing To Implement Goh Keng Swee Report Of 1980 appeared first on Colombo Telegraph.
Currency depreciation inflates an economy and imposes a 'hair cut' on domestic debt by reducing purchasing power
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
2014 T Bond Yield Goes Below One Year T Bill Rate In Secondary Market The rupee further strengthened at Friday’s (September 21) trading due to a mix of sluggish import demand and possible foreign investment in the Government Bond market, a source told this newspaper. As a result, the exchange rate (ER) strengthened by 25 ...
By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
By Cassandra Mascarenhas The Government eServices project spearheaded by the ICT Agency of Sri Lanka celebrated a landmark achievement last evening, launching 22 important eGovernment services, further strengthening the country’s Government sector by making public services easily accessible to the citizens of Sri Lanka via the internet and mobile communication systems. Presidential Secretary...
UNP MP Dr. Harsha de Silva yesterday issued the following statement on the new appointments to the Securities and Exchange Commission (SEC): Is the Government’s message to go ahead and engage in fraud at the CSE without worrying about getting caught? If the Minister of Finance was genuinely concerned in re-establishing a fair and equitable ...
Commissioners given freedom to decide future course with regard to DG post Dr. Jayasundera says top professionals picked to give leadership to a sound capital market growth Priyantha and Sujeewa served as Commissioners under Indrani Sugathadasa as well Opposition and certain market segments decry choice of men given their conflicting roles By Nisthar Cassim Likely ...
Last week’s weekly Treasury (T) Bill auction saw yields continuing with their upward ascent, with the weighted average yields (WAYs) for 182 and 364 day T Bills rising by seven and four basis points (bps) to 13.02% and 13.27% respectively. However the WAY for the 91 day T Bill stagnated at the 11.36% level, which ...