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Sri Lanka's economy (LKGDP=ECI) shrank 11.5% in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades.The post Sri Lanka’s economy shrinks 11.5% in first quarter as financial crisis continues appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
The federal budget for Fiscal Year 2023-24, presented by Pakistan Finance Minister Ishaq Dar on Friday, came as a huge disappointment for homemakers as it offered no respite from surging household expenses, The News International reported. Reeling under an economic crisis of the kind seldom experienced in the country’s history, women in Pakistan are finding […]
By Saman Indrajith SJB Parliamentarian Eran Wickremaratne has called on the government in parliament to extend debt moratoria offered to small and medium Enterprises (SMEs). Wickremaratne said on Wednesday that following the pandemic, the prolonged economic crisis had heaped further burden on SMEs; he warned the failure to provide relief could result in more job losses. “This […]
By Rose Kenny During his recent visit to Japan, President Ranil Wickremesinghe highlighted the country’s resolute tilt towards Asia, signalling a strategic shift in its foreign policy. Building on the government’s vision to elevate Asia as a global centre of economic integration, President Wickremesinghe’s address at the Nikkei Forum, Future of Asia, outlined his vision for the region. This inclin...
The Lankan economy is showing tentative signs of improvement, in part due to the implementation of critical policy actions, says Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF) issuing a statement at the conclusion of his visit to Sri Lanka. However, the economic
Sri Lanka President Ranil Wickremesinghe reiterated his commitment to prevent any regression of the country to its previous state, emphasizing his determination to transform Sri Lanka into a fully developed nation by 2048.The post Government’s objective is to develop Sri Lanka as a thriving nation by 2048 appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri ...
By Easwaran Rutnam The International Monetary Fund (IMF) says the economic recovery in Sri Lanka remains challenging. IMF Deputy Managing Director Kenji Okamura said that Sri Lanka’s economy is showing tentative signs of improvement, in part due to the implementation of critical policy actions
[…]The post Special Statement Delivered By President Ranil Wickremesinghe: Full Text appeared first on Colombo Telegraph.
President Ranil Wickremesinghe making a special statement to the nation reiterated his commitment to prevent any regression of the country to its previous state and his determination to transform Sri Lanka into a fully developed nation by 2048. The President explained at length the measures taken by the government in the past nine months to […]
Sri Lanka's central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently high inflation.The post Sri Lanka’s Central Bank to hold rates as inflation stays high appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
Crisis-stricken Sri Lanka should be able to conclude newly-launched debt restructuring talks by September, or November at the latest, its president said on Thursday, adding that the negotiations had made "remarkable" progress.The post Sri Lanka could wrap up debt restructure talks by Sept, president says appeared first on ONLANKA News | Sri Lanka Latest Breaking News and Top Stories - Sri Lanka Ne...
President Ranil Wickremesinghe expressed regret to Japanese Prime Minister Fumio Kishida over the decision taken to suspend the Japanese funded Colombo Light Rail Transit (LRT) project. During an official meeting in Tokyo this morning (25) between President Ranil Wickremesinghe and Japanese Prime Minister Fumio Kishida, the President emphasized the need for future legislation in the […]
Japanese Prime Minister Fumio Kishida will meet Sri Lanka's president on Thursday as the South Asian nation looks to bolster efforts to restructure its debt and repair an economy deeply scarred by a severe financial crisis.The post Japan Prime Minister Kishida meets Sri Lanka president on debt repair talks appeared first on ONLANKA News | Sri Lanka Latest Breaking News and Top Stories - Sri Lanka ...
Upon completion of its mission to Sri Lanka, the International Monetary Fund (IMF) review team has said that maintaining the economic reform momentum and ensuring timely implementation of the IMF-supported programme’s commitments are essential for Sri Lanka to emerge from the current economic
Caught in a quagmire between political instability and economic turmoil, the development projects under the China-Pakistan Economic Corridor (CPEC) have been delayed in Pakistan, angering China, reported The Friday Times. China is angry in particular as it recently helped Pakistan out by rolling out loans and extending much-needed support. Diplomatic sources say Chinese authorities are […]
The International Monetary Fund (IMF) team says that keeping up the economic reform momentum and ensuring timely implementation of the IMF-supported programme’s commitments are key for Sri Lanka to emerge from the economic crisis.The post IMF Staff concludes visit to Sri Lanka and issued official
The International Monetary Fund (IMF) says timely restructuring agreements between Sri Lanka and its creditors in line with the program targets, by the time of the first review, is essential to restoring debt sustainability. An IMF mission led by Messrs. Peter Breuer and Masahiro Nozaki conducted
China should play a formal role in the common framework for creditor talks set up by India and the Paris Club that is aimed at facilitating Sri Lanka’s debt restructuring, a U.S. official said. Sri Lanka defaulted on its foreign debt for the first time in its history last April as its economy faced its […]
The Sri Lankan economy is expected to contract by 3% in 2023 given the weak external environment, Krishna Srinivasan, Director of the Asia Pacific Department at the International Monetary Fund, said on Monday.The post Sri Lankan economy expected to contract by 3% in 2023: IMF official appeared
Cash-strapped Sri Lanka’s national airline announced a staggering US $ 525 million annual loss yesterday.The post Sri Lanka’s airline posts US $ 525 million annual loss appeared first on ONLANKA News ::. Latest Sri Lanka News with Breaking News Alerts from Sri Lanka.
Islamabad [Pakistan], April 28 (ANI): Amid a rise in inflation and a shortage of foreign exchange reserves, people in Pakistan have started to face difficulties in performing Haj, Pakistan vernacular media reported. The Haj quota is now available for the first time in Pakistani history, but fewer people are making the pilgrimage. Most Pakistanis are […]
A program to generate income for Sri Lanka through 'Health Tourism' is expected to be prepared, President’s Senior Adviser Sagala Ratnayaka said.The post Sri Lanka Government focuses on promoting ‘Health Tourism’ appeared first on ONLANKA News ::. Latest Sri Lanka News with Breaking News Alerts from Sri Lanka.
An International Monetary Fund (IMF) staff team will arrive in Sri Lanka on Thursday, a statement from the global lender said as the crisis-hit country prepares for the first review of a loan programme in September.The post IMF delegation to arrive in Sri Lanka on Thursday appeared first on ONLANKA
Pakistan's anti-graft watchdog arrested former Prime Minister Imran Khan at Islamabad High Court on Tuesday, in a dramatic move that threatens fresh turmoil in the nuclear-armed country.The post Former Pakistan Prime Minister Imran Khan arrested, aides call for nationwide protest appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
Sri Lanka expects to host 1.55 million visitors and earn 2.7 billion Sri Lankan rupees ($8.4 million) in much-needed tourism revenue this year, as it maps a road to the recovery of its tourism sector amid its worst economic crisis in decades.The post Sri Lanka expects cash infusion from 1.5 million tourists in 2023 for crisis-hit economy appeared first on Sri Lanka Breaking News and Top Headlines ...
Adventure tourism is playing a key role in helping Sri Lanka rebuild its economy after a turbulent few years for the South Asian nation.The post Sri Lanka looks to adventure travel to attract ‘quality’ tourists and help rebuild economy appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
Sri Lanka President Ranil Wickremesinghe addressed the United National Party (UNP) May Day celebrations held at the Sugathadasa Indoor Stadium in Colombo yesterday (May 01) through video technology.The post Sri Lanka President says Let 2048 be the year of development for Sri Lanka appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades.The post Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
Sri Lanka's National Consumer Price Index (NCPI) (LKNCPI=ECI) eased to 49.2% year-on-year in March, after a 53.6% rise in February, the statistics department said on Friday.The post Sri Lanka consumer inflation dips to 49.2% year-on-year in March appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.