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Wickremesinghe says Sri Lanka is taking some painful reforms to come out of economic crisis
- Economic levers alone not sufficient to stimulate global economic recovery – President (Category: Breaking News)
- Non-aligned nations, once perceived as weak states, have evolved beyond that characterization -P... (Category: Breaking News)
- Sri Lanka appeals to creditors for help (Category: Breaking News)
- Central Bank’s Check List for 2012 and beyond (Category: Business)
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.
- Sri Lanka seeks Asian Development Bank support in digitalization, agriculture (Category: Breaking News)
- ADB approves $350 Million for Sri Lanka economic stabilization programme (Category: Breaking News)
- ADB chief commends Sri Lanka s efforts, pledges further support (Category: Breaking News)
- Sri Lankan President proposes ADB to establish International University on Climate Change in Sri... (Category: Breaking News)
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
- Worker remittance income up in August amid Government incentives (Category: Breaking News)
- Sri Lanka economy shrinks 8.4-pct in 2Q amid currency crisis (Category: Breaking News)
- Sri Lanka President urges unity to safeguard economic stability amid IMF deal (Category: Breaking News)
- U.N. presses Sri Lanka to advance human rights amid economic crisis (Category: Breaking News)
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 -...
- Lazard initiates talks with India, China Japan on restructuring Sri Lanka debt (Category: Breaking News)
- Sri Lanka aims to have $2.9 billion IMF loan finalised in December (Category: Breaking News)
- Japan to organize Sri Lanka creditors’ meeting by year-end – report (Category: Breaking News)
- Sri Lanka already started ‘low level’ talks with India, China on debt restructuring – President (Category: Breaking News)
In 2021, the government paid 86 cents as salaries and pension payment to public servants from every rupee it earned.
- Rating Track (Category: Business)
- Sri Lankan trade unions agitate for salary hike (Category: Breaking News)
- IT savvy officers, need of the hour - Naveen (Category: Breaking News)
- IT knowledge, a must for State officials - Minister (Category: Breaking News)
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 […]
- China only observer in Sri Lanka’s debt restructuring platform (Category: Breaking News)
- Government to unveil domestic debt restructuring strategy this week (Category: Breaking News)
- IMF ready to support Sri Lanka’s discussions with bondholders (Category: Breaking News)
- Japan to support Sri Lanka’s debt restructuring negotiations (Category: Breaking News)
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 […]
- Milinda pushes for Indo-Lanka strategic-level partnership (Category: Breaking News)
- “A friend in need is a friend indeed”: Sri Lanka’s praise for India (Category: Breaking News)
- Sri Lanka may allow Indian rupee to be used in local transactions (Category: Breaking News)
- First things first (Category: Breaking News)
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 […]
- All praise for Lanka’s saviours! (Category: Breaking News)
- Shocking claim in House: Bandula reveals how sugar importers, their henchmen trapped Prez (Category: Breaking News)
- Herath: COPE dissolution must not hinder probe into economic crisis (Category: Breaking News)
- The fall of Pohottuwa govt. (Category: Breaking News)
By Saman Indrajith The government yesterday decided to put off the Social Security Contribution Bill when the JVP and the SJB, in Parliament opposed it vehemently. The Social Security Contribution Levy Bill had been listed for the second reading debate, and Parliament sources said that the party leaders had agreed to pass the Bill with […]
- Cabinet approves Social Security Contribution Tax Bill (Category: Breaking News)
- Sajith questions inclusion of two Bills on Order Paper before receiving AG’s recommendations (Category: Breaking News)
- Speaker endorses VAT and Social Security Contribution Levy bills (Category: Breaking News)
- Govt plans Revenue Authority to monitor underperforming IRD, Excise dept, Customs (Category: Breaking News)
[…]The post End Casino Capitalism: Sri Lanka To Join The Global Minimum Tax Agreement appeared first on Colombo Telegraph.
- Need To Restrain The Power Of Shadow Finance (Category: Breaking News)
- Liberal Or Edible Economics: Global Disorder Worst In A Century (Category: Breaking News)
- Privatisation Of Public Assets Under Neoliberal Corporate Capitalism: Modern Evil (Category: Breaking News)
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
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 […]
- Of Elections, Bond Scams & Money Politics: The Anatomy Of Default @75 (Category: Breaking News)
- Treasury bond scams: SJB drags Lotus Tower into ‘conflict’ as SLPP attacks ‘footnote’ gang (Category: Breaking News)
- Massive Corruption Scams Rock The Land Of The Mahatma (Category: Breaking News)
- Sri Lanka accelerates financial literacy drive amid scams (Category: Breaking News)
[…]The post Central Bank Independence: Issue To The Fore Again, But Will The Government Have Foresight To Do It? appeared first on Colombo Telegraph.
- New Central Banking Bill: Positive But Gaps Need To Be Filled (Category: Breaking News)
- New Central Bank Bill: Gaps Need To Be Filled (Category: Breaking News)
- Deciding On New Central Bank Act Is Too Precious To Be Left Only To Politicians (Category: Breaking News)
- A Child’s Guide To Currency Board Systems: Has The Monetary Board Failed The Nation? (Category: Breaking News)
Sri Lanka's president is set to slash expenditure when he presents an interim budget on Tuesday to see the crisis-ridden country through the rest of the year, amid discussions with the International Monetary Fund on a bailout package.The post Sri Lanka’s president to cut spending in interim budget appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
- President not informed about appointment of Interim Committee for Sri Lanka Cricket (Category: Breaking News)
- Sri Lanka President says Presidential, Parliamentary Elections will be held in 2024 (Category: Breaking News)
- Interim Budget 2022 passed in Parliament (Category: Breaking News)
- 2023 Budget aimed at long-term, stable economic growth to be presented to Parliament tomorrow (Category: Breaking News)
Another round of discussions with the International Monetary Fund, with the aim of finding solutions to the financial crisis facing Sri Lanka, was held last Wednesday (24) at the President’s Office under the patronage of President Ranil Wickremesinghe.President Wickremesinghe joined the meeting via
A team from the International Monetary Fund (IMF) will meet Sri Lanka's president on Wednesday for talks to finalise a bailout package, including restructuring debt of about $29 billion, amid the nation's worst financial crisis in more than seven decades.The post IMF team to holds talks with crisis
- Sri Lanka’s revenue shortfall concerns IMF team – sources (Category: Breaking News)
- Sri Lanka’s talks with creditors ongoing, unaware of specific deals – IMF (Category: Breaking News)
- IMF eyes creditor assurances as it prepares Sri Lanka visit (Category: Breaking News)
- Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan – sources (Category: Breaking News)
Beijing [China], August 12 (ANI): Recent protests in China’s Henan province underline the risks being faced by banks as the real estate sector continues to struggle. The real estate sector in China accounts for around 24 per cent of gross domestic product (GDP), almost a quarter of the nation’s GDP, according to authors Ahana Roy […]
- China vulnerable to asset bubbles, warns IMF (Category: Business)
- Ditched by Communist Party, Chinese billionaire loses 93 per cent of his fortune (Category: Breaking News)
- Will China’s sprawling debt problem worsen? (Category: Breaking News)
- What to Know About China’s Real Estate Crisis (Category: Breaking News)
Sri Lanka will ask Japan to invite the Indian Ocean island's main creditor nations, including China and India, to talks on bilateral debt restructuring, as it seeks a way out of its worst economic crisis in decades, its president said on Thursday.The post Sri Lanka to ask Japan to open talks on debt restructuring with key lenders appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - ...
- Sri Lanka could wrap up debt restructure talks by Sept, president says (Category: Breaking News)
- Sri Lanka already started ‘low level’ talks with India, China on debt restructuring – President (Category: Breaking News)
- Sri Lanka president to hold debt talks on France visit – sources (Category: Breaking News)
- Japan, India and France launch creditors meeting on Sri Lanka debt (Category: Breaking News)
by Shamindra Ferdinando Former Chairman of the Committee on Public Enterprises (COPE) Prof. Charitha Herath yesterday (07) said that though the prorogation of the Parliament led to the dissolution of the watchdog committee it shouldn’t hinder a planned inquiry to identify those responsible for the current economic chaos. Prof. Herath said that the COPE was […]
- Govt. institutions must submit annual reports within stipulated time period COPE (Category: Breaking News)
- Govt. institutions must submit annual reports within stipulated time period COPE (Category: Breaking News)
- Govt. institutions must submit annual reports within stipulated time period COPE (Category: Breaking News)
- Govt. institutions must submit annual reports within stipulated time period COPE (Category: Breaking News)
Sri Lanka is considering a restructure of local and sovereign debt, President Ranil Wickremesinghe said on Friday, as the island nation battles its worst financial crisis in its independent history.The post Sri Lanka considering restructure of local and sovereign debt appeared first on ONLANKA News
- Sri Lanka President says China’s assurances to restructure Sri Lanka’s debt received and forward... (Category: Breaking News)
- Sri Lanka set to begin talks to restructure debt of $30 Billion (Category: Breaking News)
- Sri Lanka Government hoping to restructure $17 billion foreign debts along with local debts (Category: Breaking News)
- Sri Lanka could wrap up debt restructure talks by Sept, president says (Category: Breaking News)
Sri Lanka will restart bailout talks with the International Monetary Fund (IMF) in August, its new president said on Wednesday, while calling on lawmakers to form an all-party government to resolve a crippling economic crisis.The post Sri Lanka to restart IMF bailout talks, president calls for unity Government appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri L...
- IMF bailout package has unlocked new path to create better future for youth and uplift the count... (Category: Breaking News)
- Sri Lanka to start next round of talks with creditors in April (Category: Breaking News)
- Sri Lanka President says it’s not right time for Rajapaksa to return after fleeing country, WSJ ... (Category: Breaking News)
- Sri Lanka has made good progress in negotiations with IMF – CBSL chief (Category: Breaking News)
[…]The post Poor Governance: Lack Of Policies To Overcome The Crises appeared first on Colombo Telegraph.
- The Current System & Unlawful Actions (Category: Breaking News)
- Options For Interim Govt. To Overcome The Crisis (Category: Breaking News)
- Aragalaya: Manufactured Economic Crisis & Peoples’ Suffering (Category: Breaking News)
- President Must Resign Now! (Category: Breaking News)
The widely acclaimed globalisation of the post-Cold-War era is now running in reverse. A protracted slowdown in global trade has been reinforced by persistent pandemic-related supply chain disruptions, ongoing pressures of the US-China trade war and efforts to align cross-border economic ties with geostrategic alliances, known as “friend-shoring”. These developments raise the pressure on China, [&...
- Sri Lanka turmoil highlights risk for Chinese firms investing overseas (Category: Breaking News)
- Alibaba, HSBC, AIA pace rout in Hong Kong on Taiwan tensions as China promises ‘firm and strong’... (Category: Breaking News)
- China’s dual-use surveillance ship in Sri Lankan port underscores distrust of Beijing’s tech adv... (Category: Breaking News)
- Apple supplier Foxconn’s iPad factory in southwest China halts production for six days amid powe... (Category: Breaking News)
Bangladesh has formally requested for a USD 4.5 bn loan from Washington-based multilateral lender International Monetary Fund (IMF) to tackle the ongoing financial crisis in the country, the country’s media reported.Bangladesh has asked for the loan from the IMF in view of rapidly declining foreign
- Bangladesh seeks $4.5 billion IMF loan as deficit widens (Category: Breaking News)
- Sri Lanka given more time to repay Bangladesh s $200m loan (Category: Breaking News)
- Sri Lanka pays back $50 million to Bangladesh (Category: Breaking News)
- Sri Lanka repays entire $200mn loan from Bangladesh (Category: Breaking News)
[…]The post Is Global Financial Crash Imminent in 2022? appeared first on Colombo Telegraph.
- Tips for business start-ups in 2022 (Category: Breaking News)
- Madame Ambassador Chung, Your Message Will Live On Forever! (Category: Breaking News)
- Prospects For Global Capitalism: 2023 & After (Category: Breaking News)
- Resolving Systemic Debt Crises Needs A Paradigm Shift (Category: Breaking News)
As the Sri Lankan political crisis continues to rage, China has not made any comments and this has made it evident that the ouster of the Rajapaksa family from power is set to have long-term implications for the Chinese, media reports said. In more than half a century for which the Rajapaksas held public offices […]
- Chinese role in the Sri Lankan crisis (Category: Breaking News)
- by Arundathie Abeysinghe U.S., Japan, India and Australia ready to intervene to prevent Sri Lank... (Category: Breaking News)
- Sri Lanka to discuss debt restructuring with China (Category: Breaking News)
- 1,000 MT of rice donated by China arrives in Sri Lanka (Category: Breaking News)
By Michael Rowand As Sri Lankan protesters stormed the presidential residence in Colombo, the Chinese Embassy released no statements and did not tweet. The Chinese Ministry of Foreign Affairs offered no comment until Monday afternoon, well behind others such as India, the European Union, and the United States. The French Embassy even retweeted a tweet […]
- Chinese role in the Sri Lankan crisis (Category: Breaking News)
- China a mute spectator as Sri Lanka’s political upheaval poses long-term implications for Beijing (Category: Breaking News)
- Unelected Team At The BRI Forum: Speaking From Both Sides Of Mouth (Category: Breaking News)
- Sri Lanka should prevent Chinese vessel from reaching Hambantota port (Category: Breaking News)
Sri Lanka is going through unprecedented economic, political crisis after policy failures
- NH members of Congress support, praise passage of COVID-19 relief bill (Category: USA, New Hampshire)
- NH members of Congress support, praise passage of COVID-19 relief bill (Category: USA, New Hampshire)
- NH members of Congress support, praise passage of COVID-19 relief bill (Category: USA, New Hampshire)
- NH Primary Source: Mowers, Merrill say Trump’s influence not diminishing anytime soon (Category: USA, New Hampshire)
By R. R. M. Lilani Even Lord Venkateshwara at the Tripathi Temple in Tamil Nadu, whom the Rajapaksas and Prime Minister Ranil Wickremesinghe visit for years in search of strength, power and protection, had let them down dearly. The Rajapaksas were grounded by President Gotabaya, a non-politician who only took pride in winning the Tamil […]
- WHAT NEXT? (Category: Breaking News)
- Gota’s resignation and Ranil’s appointment gazetted (Category: Breaking News)
- Gotabaya officially informs Ranil he is resigning (Category: Breaking News)
- Whose Saviour Is Ranil? And Who Is Being Clever – Ranil Or Gota? (Category: Breaking News)
An efficient mechanism is required to guarantee that disclosures made at parliamentary watchdog committees on the basis of Auditor General’s reports are used to further investigate and prosecute wrongdoers. AG’s reports and observations made by watchdog committees underscore the failure on the part of the Parliament to take effective and punitive measures to curb waste, […]
- Ex-COPE Chairman alleges executive intervention in House committees (Category: Breaking News)
- Herath: COPE dissolution must not hinder probe into economic crisis (Category: Breaking News)
- Procurement of LP gas: Ex-COPE Chief alleges embezzlement of funds amounting to Rs 1.3 bn (Category: Breaking News)
- Reconstitution of COPE, COPA in limbo (Category: Breaking News)
[…]The post The Financial Crisis – Mismanagement, Fear Or Collusion? appeared first on Colombo Telegraph.
- Financial Crisis As Seen By A Non-Economist (Category: Breaking News)
- Just Rewards For Hard Work (Category: Breaking News)
- Revisiting, Reforming & Reordering Our Agriculture (Category: Breaking News)
- On Overlooking The Obvious (Category: Breaking News)
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