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[…]The post Aragalaya: Manufactured Economic Crisis & Peoples’ Suffering appeared first on Colombo Telegraph.
Sri Lanka’s economic activity is coming to a near standstill as the island nation, facing its worst financial crisis, runs out of fuel for transport with little sign of fresh supplies arriving.The...Click on the headline to read the full story
in its worst financial crisis in […]
[…]The post Why Should The United States Care About Sri Lanka’s Predicament? appeared first on Colombo Telegraph.
"China and the United States could work together to help Sri Lanka (to) overcome current difficulties (sp)."
China on Wednesday praised India for making “great efforts” to help Colombo to tide over its worst financial crisis even as it refuted Sri Lankan President Gotabaya Rajapaksa’s remarks that Beijing has shifted its strategic focus from South Asia including Pakistan to South East
[…]The post Aragalaya: People’s Response To Rajapaksa-Made Crisis appeared first on Colombo Telegraph.
The Philippines says it is ready to evacuate its nationals employed in Sri Lanka, owing to the economic crisis. Malacañang, the Philippines President’s Office, said that it has advised overseas Filipino workers (OFWs) who are seeking repatriation from Sri Lanka to get in touch with either the Philippine embassy in Dhaka or the Honorary Consulate […]
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 […]
Experts say, “The lack of cooperation by Beijing would complicate the debt recovery journey of Sri Lanka”. The magnitude of the economic crisis that Sri Lanka is facing has reached catastrophic proportions. The whole world is astounded by the rampant mismanagement beyond the comprehension of anybody. Once an economic model of Asia, is now reeling […]
[…]The post Causes Of Economic Crisis In Sri Lanka & Lessons For A New Age appeared first on Colombo Telegraph.
a “full explanation” of Sri Lanka’s financial crisis on […]
Prime Minister Wickremesinghe says the Government is facing an immediate challenge of securing funds to pay for the fuel requirement for this coming week. He said that due to the dollar shortages in the banks, the Government is now exploring other options of securing the necessary funding. Meanwhile, Prime Minister Ranil Wickremesinghe held discussions with […]
It will then be presented to the cabinet of ministers for approval, the PM’s office said in a statement.
Lack of parliament majority could drag the new prime minister's economic recovery plans
India has helped Sri Lanka with nearly 3.5 billion US dollars so far this year.
[…] The post Delayed IMF Assistance & The Fertilizer Ban: President Rajapaksa’s “Two Mistakes” That Pauperized Sri Lanka appeared first on Colombo Telegraph.
[…] The post Lack Of Accountability, Ability & Credibility appeared first on Colombo Telegraph.
[…] The post A Staged Default & Sovereign Bond Debt Trap? IMF’s Spring Meetings Amid Hybrid Cold War appeared first on Colombo Telegraph.
Reuters: Indian Finance Minister P. Chidambaram sought on Monday to allay investor worries about an economy growing at its weakest pace in almost a decade by pledging to address their concerns over taxes, public finances and interest rates. In his first comments since becoming finance minister on July 31, Chidambaram said it was important to ...
financial crisis was one of the strongest among middle-income countries (MICs), but its growth ...
The Standard and Poor’s (S&P) Rating Services assigned a score of 8 (very high risk) to the Sri Lankan economy and banking industry last week. The role of ratings agencies in the lead-up to the global financial crisis (2008) was certainly highly questionable. There are also issues related
By Nirmala Kannangara Despite the government imposing a major hike in fuel prices in February, the Ceylon Petroleum Corporation (CPC) is still facing a severe financial crisis, trade unions said. Secretary of the Jathika Sevaka Sangamaya (Petroleum Branch) Ananda Palitha said that the CPC is facing
By: Surendra Ajit Rupasinghe In the mid nineteen eighties, the Philippines was rocked by a sustained people’s resistance movement that finally deposed of the hated and corrupt dictator, Ferdinand Marcos, who had to flee the country in a US Air Force helicopter. The Catholic Church, representing the majority of the people, played a critical role ...
DUBAI (Reuters): Emirates airline placed a blockbuster order for 50 Boeing 777 jetliners at the Dubai Air Show on Sunday, underscoring the confidence brimming among fast-growing Gulf airlines despite growing fears of stalling global growth. The Dubai government-owned carrier, expanding its role as the world’s largest operator of Boeing’s most profitable plane, said the deal ...
Environmental trends threaten global progress for poor, warns 2011 Human Development ReportDevelopment progress in the world’s poorest countries could be halted or even reversed by mid-century unless bold steps are taken now to slow climate change, prevent further environmental damage, and reduce deep inequalities within and among nations, according to projections in the 2011 Human ...
Following is the address delivered by Senior Minister for International Monetary Cooperation Dr. Sarath Amunugama at the fourth South Asia Economic Summit (SAES IV) Plenary Session: In the aftermath of the global economic crisis, there has been a noticeable shift in economic clout, moving from the USA and the debt-plagued countries of the Eurozone, to ...
Sri Lanka’s state run Ceylon Petroleum Corporation is facing a financial crisis owing to selling fuel items below the import cost, says a top official. The Secretary to the Ministry of Petroleum and Petroleum Resources Development Sandhya Wijayabandara told News360.lk that this situation
As Bank of America Corp.’s stock has tumbled and clawed back in recent days, city leaders, business owners and others with a stake in the company are waiting to see what happens next.The stock market swings have delivered a familiar feeling of anxiety to a city pummeled by the financial
By Abdul H. Azeez Hedging deals are double edged, and even though they reduce risk, they do not completely eliminate it. If hedging deals are entered into without proper foresight, they can cut down and amputate like a sweeping butcher’s knife. Sri Lanka, in its rush to rid itself of the burden of high fuel ...