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[An article based on the Keynote Address delivered by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, recently at the Annual Research Symposium 2023 of the University of Colombo] Introduction Inflation affects every aspect of our lives; it is a force that shapes our purchasing power, influences our financial decisions, and […]
Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]
By Chani Imbulgoda “We suffer today, because leaders in the past have failed to govern this country properly”. Oh, the predecessor has not done things well, they all have let the place go haywire”. Familiar excuses… When one takes over the leadership be it the country, be it an organisation, or be it a new […]
The Sri Lankan government is seeking Russian cooperation in multiple sectors, namely, tourism, air traffic, and locomotive construction, besides eyeing crude from Moscow.The post Sri Lanka mulls buying Russian oil & fertilizers appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Aljazeera reports that there is a severe shortage of greenbacks in Bangladesh due to its dwindling foreign reserves and a sharp drop in the value of its taka currency against the dollar. In the past six months, Bangladesh’s foreign reserves have dropped below $32bn from $39bn while the value of the taka has fallen by […]
[…]The post Budget 2023: A Depth Or Dearth appeared first on Colombo Telegraph.
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 News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lankans have lost access to most medicine and medical supplies, setting them on course for a humanitarian disaster, Direct Relief reported. Unlike Russia’s invasion of Ukraine and the recent hurricane batterings of Puerto Rico and Florida, Sri Lanka’s crisis grew slowly and has garnered
By DR L M K Tillekeratne Chairman of the National Development Committee of the ACBC It is a well-known fact that one the problems faced by Sri Lanka today is caused mainly by shortage of electricity for domestic purposes and industries. Three decades ago, only 20 % of houses had electricity for lighting. But, today […]
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
A food crisis in Sri Lanka looms as the island nation faces its worst economic disaster in decades. With food price inflation higher than 90%, even staples like rice have become almost unaffordable for many Sri Lankans. The World Food Programme (WFP) estimates that about 30% of the population is food insecure and that one out of […]
Sri Lanka’s former president, Gotabaya Rajapaksa, who fled the country in July after tens of thousands of protesters stormed his home and office in a display of anger over the country’s economic crisis, has returned to the country after seven weeks.The post Sri Lanka’s ousted president Gotabaya Rajapaksa returns home after fleeing appeared first on ONLANKA News :. Sri Lanka Latest Breaking N...
Calls for unity in a country torn apart by nationalism and monetary instability
Selected imports will be restricted to balance payments for fuel, President Ranil Wickremesinghe said today. The President told Parliament that the immediate requirement before the country is fuel. “While appreciating the international assistance in addressing the fuel shortage, it in timely that we now initiate a system for such importation from our own export income […]
[…]The post Presidential Dilemma: Find Fuel Or Face Protests appeared first on Colombo Telegraph.
Hambantota in southern Sri Lanka housed ousted President Gotabaya Rajapaksa following the recent crisis, until he was forced to flee the country entirely. That continues a trend of the city, and especially its strategic deep-sea port, being in the news for all the wrong reasons. In 2017, when Sri Lanka found itself struggling to make […]
[…]The post Good Bye Ranil; “Welcome” President Dulles Alahapperuma appeared first on Colombo Telegraph.
Sri Lanka’s Acting President Ranil Wickremesinghe says that the issues which prevail in Sri Lanka with regard to hunger, are man made.The post The food crisis in Sri Lanka is man made, Acting President Ranil tells Global Forum appeared first on ONLANKA News - Sri Lanka News - Latest News Sri Lanka - Breaking News from Sri Lanka.
Says economy could contract 7-pct in 2022
Sri Lanka’s total debt burden increased to Rs 21.6 trillion by March 2022, Prime Minister Ranil Wickremesinghe told Parliament today. He said that Sri Lanka needs to pay $3.4 billion between June and December this year, $5.8 billion in 2023, $4.9 billion in 2024, $6.2 billion in 2025, $4.0 billion in 2026 and $4.3 billion […]
[…]The post Is Sri Lanka On The Brink Of Another Covid Wave? appeared first on Colombo Telegraph.
[…]The post Sri Lankan Economy Heading Towards A Dangerous Phase appeared first on Colombo Telegraph.
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed Prime Minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]
Prime Minister Ranil Wickremesinghe has warned that the next three weeks will be tough for Sri Lanka. Speaking in Parliament today, the Prime Minister said that the public must use fuel and gas as carefully as possible. He also said that unessential travel should be limited as much as possible. “Therefore, I urge all citizens […]
[…]The post Sri Lanka’s Economic, Political & Human Crisis appeared first on Colombo Telegraph.
[…]The post Elon Musk To Rescue Sri Lanka From IMF Debt Bondage? appeared first on Colombo Telegraph.
Russian oil is being supplied to Sri Lanka to produce fuel at its sole refinery as the bankrupt nation faces crippling shortages of everything from gasoline to diesel. The Russian grade of Siberian Light will be processed at Ceylon Petroleum Corp.’s refinery in Sapugaskanda,chairman Sumith Wijesinghe said in a phone interview. The country’s only refinery […]
Lack of jet fuel in Colombo forces SriLankan, other airlines to refuel in other airports
Regional plantation companies and smallholders are harvesting green leaf and arranging deliveries
[…]The post Masks Of Democracy & Energy Geopolitics: Is Full Spectrum Dominance The Endgame? appeared first on Colombo Telegraph.