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Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country's airline top of the list for reform.The post Turbulence ahead: Airline on the block in Sri Lanka reforms appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Lack of Common Sense Of A Time-Expired President appeared first on Colombo Telegraph.
[…]The post Need To Restrain The Power Of Shadow Finance appeared first on Colombo Telegraph.
[…]The post Sri Lanka: Strategizing Economic Recovery appeared first on Colombo Telegraph.
Sri Lanka said it held a productive meeting with its bilateral creditors, which include India and China, on Thursday as the country looks to restructure its debt and carve a path out of its worst financial crisis in decades.The post Sri Lanka holds debt restructuring talks with bilateral creditors
[…]The post Corruption & Lack Of Common-Sense; Presidential Brutalities appeared first on Colombo Telegraph.
Hundreds of people marched in Sri Lanka's largest city Colombo on Wednesday protesting against higher taxes, inflation and alleged state-led repression as the country struggles to emerge from its worst financial crisis in seven decades.The post Hundreds march in crisis-hit Sri Lanka protesting tax
[…]The post Two Men, Two Cultures appeared first on Colombo Telegraph.
Tax evasion: By Shamindra Ferdinando SLPP MP Mahindananda Aluthgamage yesterday (25) said the Finance Ministry owed an explanation regarding its failure to regulate chartered accountants to increase state revenue. The former minister said so when The Island asked whether the Finance Ministry had cared to verify accusations he made in Parliament on 20 Sept., about […]
Sri Lanka approved legislation on Tuesday to let companies from oil-producing nations import and sell fuel as it attempts to cope with a steep oil bill that deepened its worst financial crisis in decades.The post Sri Lanka approves law to liberalize petroleum imports appeared first on Sri Lanka
[…]The post IMF Must Become More Than Just A Debt Collector For Private Creditors appeared first on Colombo Telegraph.
International, calls for accountability for the island nation’s leadership for its worst financial crisis [&#...
Sri Lanka's central bank is likely to maintain interest rates on Thursday in an effort to get a grip on inflation which has remained stubbornly high despite a sharp contraction in the crisis-hit economy.The post Sri Lanka Central Bank to hold rates as inflation worries persist appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
A key measure of Sri Lanka's consumer inflation surged to an annual record 69.8% in September, official data showed on Friday, highlighting the challenge for the central bank as the island reels under its worst financial crisis in seven decades.The post Sri Lanka’s key inflation rate surges
Unlike the financial crisis of 2008, the economic levers alone were insufficient to stimulate global economic recovery in 2022 as what had led to the current crisis was the consequences of evolving geopolitics, President Ranil Wickremesinghe said on Thursday at the ADB’s 55th annual meeting. “
The Asian Development Bank (ADB) is ready to provide further financial support to Sri Lanka, a top official of the regional lender said on Tuesday, as the Indian Ocean nation battles its worst economic crisis in more than seven decades.The post Asian Development Bank vows more help for crisis-hit Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Appellants Asked To Give Affidavits To The RTI Commission As First Step To Prosecution Under RTI Act appeared first on Colombo Telegraph.
BY Consultant Family Physician, Dr. S. Kumaran, and Viduni Basnayake This article describes the experiences of a novel, evidence-based approach that involves patients, and their family members, in delivering health care, providing medical education, and conducting research, at a primary care institution, called a Family Health Care Centre. The Northern Province, in Sri Lanka, is […]
The Global Tamil Forum (GTF) has called for a strong resolution on Sri Lanka at the UN Human Rights Council (UNHRC) in Geneva. Issuing a statement, the GTF said that for the Tamil people who have suffered enormously during the war, and indeed for the victims of human rights violations from all communities who are […]
Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.The post Sri Lanka’s economy shrinks 8.4
BY S VENKAT NARAYAN Our Special Correspondent NEW DELHI, September 15: Nearly half of Darjeeling’s tea estates in India’s West Bengal state, numbering around 35-40, are up for sale as planters are unable to run the operations smoothly in the absence of international buyers from Europe and Japan who used to buy good volumes of […]
Financial advisory group Lazard (LAZ.N) has started talks with India, China and Japan on restructuring Sri Lanka's debt, a spokesman for the Sri Lanka government said on Tuesday, as the crisis-hit island nation seeks an International Monetary Fund (IMF) bailout.The post Lazard in talks with China, India, Japan on Sri Lanka debt appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka -...
Sri Lanka should improve human rights and strengthen institutions to tackle the humanitarian challenges that have sprung from its worst financial crisis in seven decades, a top U.N. Human Rights official said on Monday.The post U.N. presses Sri Lanka to advance human rights amid economic crisis
By R. R. M. Lilani The International Monetary Fund (IMF) condition of pressuring creditors to restructure their loans awarded to Sri Lanka has not yet taken effect, with China remaining silent on the issue, and the IMF bailout discussions still remains at the staff level of agreement. There is also a stalemate over the IMF […]
By Uditha Devapriya Sri Lanka’s economic woes have not cast a shadow over its complex foreign relations. On August 16, the southern port of Hambantota welcomed the Yuan Wang 5, a research vessel from China. While Colombo had asked for a deferral of the visit, it eventually relented and allowed the ship to dock until […]
For the first time in parliamentary history, the Central Bank of Sri Lanka has issued a dire warning to Parliament and political parties therein over the responsibility on their part to ensure financial stability and discipline. Their failure to do so would trigger public protests again, they were told. There hadn’t been such a public […]
Sri Lanka's Foreign Minister Ali Sabry said on Monday a constitutional amendment bill trimming presidential powers is expected to become law in a couple of weeks.The post Sri Lanka bill to trim president’s powers likely to become law within weeks – Minister appeared first on ONLANKA News :. Sri Lanka Latest Breaking News Updates - Sri Lanka News.
Foreign Minister Ali Sabry says a constitutional amendment bill trimming presidential powers is expected to become law in a couple of weeks. “The new amendment will reduce presidential powers and bring back participatory governance,” Sabry told reporters at the foreign ministry. The bill, which will require a two-thirds majority in the house to become law, […]
[…]The post End Casino Capitalism: Sri Lanka To Join The Global Minimum Tax Agreement appeared first on Colombo Telegraph.
By Shamindra Ferdinando The Sri Lanka Institute of Directors (SLID) and Transparency International Sri Lanka (TISL) recently declared corruption as the root cause of Sri Lanka’s current political and economic crisis. The declaration was made in a statement titled, “SLID and TISL launch ‘Business Against Corruption’ Initiative” issued to the media after the two organisations […]