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Sri Lanka President Ranil Wickremesinghe has urged all political leaders to exhibit responsibility in their approach to the International Monetary Fund (IMF) program.The post Sri Lanka President calls for proposals from opponents of IMF program to rescue country from financial crisis appeared
The second review of Sri Lanka's $2.9 billion bailout with the IMF could be completed in the first half of 2024, provided it manages to meet debt restructuring and revenue targets set under the programme, an official said on Wednesday.The post Sri Lanka’s second review of $2.9 billion IMF bailout possible in first half of 2024 – official appeared first on ONLANKA - Sri Lanka Latest Bre...
Sri Lanka has been told to sign a Memoranda of Understanding with its official creditors on debt treatment. The International Monetary Fund (IMF) said that Sri Lanka has reached important milestones in putting debt on the path towards sustainability. Peter Breuer, IMF Senior Mission Chief for Sri
In a special statement to Parliament today (13), President Ranil Wickremesinghe emphasized the critical role of the government’s program, backed by assistance from the International Monetary Fund (IMF) and debt restructuring, in rebuilding the collapsed Sri Lankan economy. The President warned
The International Monetary Fund (IMF) said its executive board cleared the first review of Sri Lanka's about $3 billion bailout on Tuesday, providing about $337 million in funds to help tackle the fallout from the country's worst financial crisis in decades.The post IMF board approves first review
The Executive Board of the International Monetary Fund (IMF) has approved the disbursement of approximately US$ 337 million to Sri Lanka as part of a bailout package. The IMF said the Executive Board completed the first review under the 48-month Extended Fund Facility with Sri Lanka, providing
[…]The post New Episodes Of Sri Lanka Political Theatre appeared first on Colombo Telegraph.
Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday.The post Sri Lanka to receive about $600 million ADB
Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday.
[…]The post Climate Colonialism At CoP 28: Carbon Laundering Via Green Bondscams? appeared first on Colombo Telegraph.
Sri Lanka's in-principle pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday.The post IMF says Sri Lanka debt deal could help board
Official creditors and Sri Lanka have agreed, in principle, on restructuring the country’s debt. The Paris Club said that following the launch event in April 2023, 17 countries formally formed, on May 9, an Official Creditor Committee (OCC) co-chaired by India, Japan and France (as chair of the Paris Club) to respond to the Sri […]
A group of Sri Lanka's creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan's Jiji News reported on Wednesday, without naming a source or giving any details.The post Creditor nations likely to agree on Sri Lanka debt restructuring – report appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top S...
Sri Lanka’s central bank signaled it will pause after cutting interest rates for a fourth time this year as the economy gradually recovers from its unprecedented crisis and inflation bottoms out.The post Sri Lanka signals pause after four rate cuts as IMF loan awaited appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe has revealed that the second tranche of the Extended Fund Facility (EFF) offered by the International Monetary Fund (IMF) is expected to be received in December.
The agreement reached between Sri Lanka and the Export-Import Bank of China (Exim Bank) is a positive step forward in the island nation s debt restructuring process, the International Monetary Fund (IMF) says.
Rs. 10 billion allocated for potential future elections in Sri Lanka, State Minister for Plantations, Enterprise Reforms and Finance, Ranjith Siyambalapitiya announced.The post Sri Lanka allocated Rs. 10 billion for potential future elections appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka's consumer price inflation rose to 1% in October year-on-year from 0.8% in September, the statistics department said on Tuesday.The post Sri Lankan inflation rises to 1% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Regain A Vision Of Rhe Common Good appeared first on Colombo Telegraph.
Sri Lanka Government's revenue in the first eight months saw a robust 43.5 percent increase.The post Sri Lanka Government revenue surges by 43.5%, yet expanding budget deficit spurs VAT hike appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Greenwashing Bond Scams & Financializing Mother Nature: Climate Science Fiction Versus Local Realities appeared first on Colombo Telegraph.
Sri Lanka expects to receive the second installment of the loan provided under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) in December, 2023.The post Sri Lanka expects second tranche of IMF loan in December appeared first on ONLANKA - Sri Lanka Latest Breaking News
By Shamindra Ferdinando One-rime Secretary of the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) Lacille de Silva yesterday (17) said that leaders of political parties represented in Parliament should set up a committee to study the landmark Supreme Court […]
Sri Lanka’s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors a key sticking point with countries like India paving the way for more loans from the International Monetary Fund.The post Sri Lanka gives China deal details, keeping IMF aid on track appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors  a key sticking point with countries like India  paving the way for more loans from the International Monetary Fund.
The targets laid out in Sri Lanka’s 2024 budget, particularly with regards to revenue and fiscal deficit, would be challenging to meet even with the economic recovery that is expected to continue next year, Fitch Ratings yesterday (November 15) said.The post Sri Lanka faces uphill battle in meeting 2024 budget targets: Fitch appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Storie...
Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardena, participating at a media briefing held at the Presidential Media Centre (PMC) on Wednesday (15), under the theme ‘Collective path to a stable country’ said that the existing national debt stands at approximately US $ 36 billion and only 37% of this debt is slated […]
Budget highlights Following are the highlights of Budget proposals made by President Ranil Wickremesinghe in Parliament yesterday: New economic and political system The President said in order not to fall back into a crisis, the economic and political system of Sri Lanka must be created anew. He said that a new social consensus should be […]
* Tax revenue to be raised by 47.1% in 2024 * Rs 10,000 increase for public sector workers * Pensioners to get Rs 2,500 allowance * Rs. 450 bn reserved for bank recapitalization * Four new universities to be established * 20% of state banks to be given off by Saman Indrajith President Ranil Wickremesinghe, […]
Sri Lanka's government projected a lower-than-anticipated budget deficit for 2024 on Monday on the back of a significant jump in revenues which are crucial to keep its bailout programme from the International Monetary Fund afloat.The post Sri Lanka’s 2024 budget sets ambitious revenue