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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 […]
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Customers are sending questionaries to exporters on a daily basis inquiring about the country's situation.
The United Nations team in Sri Lanka and non-governmental organisations launched a joint Humanitarian Needs and Priorities (HNP) Plan today, calling for US$47.2 million to provide life-saving assistance to 1.7 million people worst-hit by the economic crisis over a four-month period, from June to September. This directly responds to the Government of Sri Lanka’s request […]
Sri Lanka is compelled to depend on other countries to manage the impacts of economic crisis.
Wickremesinghe is on the spotlight for his performance after accepting Prime Minister post unconditionally.
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 […]
Crop shortfalls due to fertilizer and fuel shortages
Says guidance rate has reduced volatility
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[…]The post RW’s Tax Hike Welcome But Much More To Be Done To Come Out Of The Crisis appeared first on Colombo Telegraph.
Money printing creates forex and fuel shortages
Central bank has run out of reserves and is guidance rate
crisis with a shortage of US Dollars causing great hardships across the country. As […]
The Government is targeting US $5bn this year for repayments, plus a further US $1bn to bolster the country’s reserves, Prime Minister Ranil Wickremesinghe said today. The Prime Minister, during a meeting today with representatives from the Joint Chambers, elaborated that discussions with the IMF are proceeding and he was hopeful that negotiations would conclude […]
[…]The post Changing Pillows To Cure Headaches: Politicians—Constitutional Amendment Mess appeared first on Colombo Telegraph.
The Government has decided to increase the Value Added Tax (VAT) from 8% to 12% and the Telecommunications Levy from 11.23% to 15%. The Prime Minister’s Office said that Sri Lanka introduced a low tax regime in late 2019. The reforms included the reduction of tax rates of Value Added Tax, Personal Income Tax (PIT) […]
France has gifted Sri Lanka anesthetics and respiratory medications worth 300,000 Euros
They brought the proposal (in 2020) that Financial Advisors have to be appointed to make debt sustainable.
Lack of jet fuel in Colombo forces SriLankan, other airlines to refuel in other airports
“What the international community is looking for is long-term policy credibility and sustainability."
Regional plantation companies and smallholders are harvesting green leaf and arranging deliveries
Normal and expected levels in the Port of Colombo, despite the economic and political crisis
The United Nations (UN) has assured assistance to Sri Lanka in addressing the current economic challenges. Foreign Minister Prof. G. L. Peiris met the UN Resident Coordinator in Colombo, Hanaa Singer- Hamdy to discuss multiple impacts arising out of the current economic situation in the country such as supply of essential items, concerns regarding food […]
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 […]
Cabraal kept the exchange rate artificially steady while spending reserves for foreign debt repayment.
Cabraal has been prevented leaving the country from April 7
[…]The post Masks Of Democracy & Energy Geopolitics: Is Full Spectrum Dominance The Endgame? appeared first on Colombo Telegraph.
In the next few weeks we will face the most difficult time
"I also wish to inform you that we will extend our support as a responsible opposition to correct decisions."