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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 Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe has revealed that in the event the Employees Provident Fund (EPF) participates in the Domestic Debt Optimisation (DDO) process, the opportunity loss to the EPF bond portfolio will amount to 4%.
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
[…]The post Debterioration Of Nations Social Security & Protection appeared first on Colombo Telegraph.
ECONOMYNEXT –Sri Lanka’s main opposition party the Samagi Jana Balawegaya (SJB) will present an amendment to the Employees’ Provident Fund (EPF) Act to ensure an equitable treatment in restructuring domestic debt, an SJB legislator said. MP Harsha de Silva told reporters on Wednesday July 12
[…]The post The International Priority To Be Heeded 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 Sri Lanka Banks’ Association has emphasized that by optimizing domestic debt, the hard-earned funds of the working people in the country will be safeguarded from potential losses. During an interview on the ‘101 Katha’ program,produced by the Presidential Media Division, Russel Fonseka, the Chief Executive Officer of the Bank of Ceylon and a member […]
[…]The post Involuntary & Inequitable DDO appeared first on Colombo Telegraph.
By Shamindra Ferdinando Dissident SLPP MP Gevindu Cumaratunga has strongly opposed the government move to place the debt-restructuring programme under President Ranil Wickremesinghe’s control as the latter does not represent Parliament. Addressing Parliament on Saturday (01), the leader of civil society group ‘Yuthukama’ pointed out that the Resolution on the Domestic Debt Optimisation (DDO) was [...
about burden falling on superannuation funds esp #EPF without […]
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.
By Shamindra Ferdinando The Opposition yesterday (08) lambasted Speaker Mahinda Yapa Abeywardena for what it called a move to disrupt the Committee on Public Finance (CoPF) ahead of the vote on a Bill titled ‘Central Bank of Sri Lanka.’ Top spokespersons for the Nidahas Janatha Sabhawa (NJS) Prof. G.L. Peiris, MP, and the main Opposition Samagi […]
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 […]
By N Sathiya Moorthy Now that President Ranil Wickremesinghe has promised to table the IMF bail-out documents in Parliament on 25 April, there will be some relief for citizens wanting out of the meaningless politico-electoral speculation of the time. It could well be back to a more serious discourse on the economy, economic recovery – […]
By Shamindra Ferdinando The International Monetary Fund (IMF) owed an explanation as regards the recent government declaration that domestic debt restructuring was part of the programme implemented in terms of Sri Lanka’s agreement with the lending agency, top Opposition spokesperson Prof. G.L. Pieris, MP said yesterday (10). Having repeatedly assured that domestic debt wouldn’t be […]
[…]The post Can Sri Lanka Drive Itself From Bankruptcy To Prosperity In 2023? appeared first on Colombo Telegraph.
Speech made November 22 I have consistently recorded my opposition to Minister of Finance being the President. From 2010 onwards in this House, whenever the President in his capacity as Minister of Finance has presented a budget I have recorded that protest and I wish to record that today as well. When a person who […]
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.