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President Ranil Wickremesinghe stressed that everyone should unite to fulfil their moral responsibility for the country, sidelining the traditional political system of trying to grab power at the next election by palming off all the responsibilities on the government.The post Step out of traditional politics and fulfil moral responsibility – President appeared first on Sri Lanka News - Lates...
Pakistan’s former Prime Minister Imran Khan has decided not to stage mass protests like Sri Lanka to overthrow the Government. Thousands took to the streets and staged protests, some turning violent, forcing then President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa to step down. Khan has been hinting of similar protests in Pakistan to overthrow […]
Global lenders including the World Bank, the Asian Development Bank and the IMF are planning coordinated assistance to help Sri Lanka recover from its economic crisis, the government said on Tuesday.The post Global lenders eye coordinated assistance for Sri Lanka – Government appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The dramatic fuel shortages that accompanied mass protests in Sri Lanka earlier this year may have eased, but for millions of Sri Lankans the economic crisis is worse than ever, said a report by the Amnesty International. It said: This month, the United Nations renewed a humanitarian appeal, stating that 28 percent of the population faces […]
International human rights organisation, Human Rights Watch (HRW) urged Sri Lanka’s major foreign creditors, including China, Japan, and India to help restructure debts and urgently mitigate the adverse human rights impacts of the country’s worst-ever economic crisis.The post Human Rights Watch urges major creditors to help restructure Sri Lanka’s debts appeared first on Sri Lanka News - Lat...
Sri Lanka's central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9 billion International Monetary Fund (IMF) bailout to stabilise its crisis-hit economy.The post Sri Lanka to hold rates as inflation slows slightly
Sri Lanka will remain a middle-income country but request the World Bank to grant it some loans generally offered to poorer nations, the president's office said on Tuesday, clarifying a cabinet spokesperson's earlier comments on the matter.The post Sri Lanka to keep ‘middle-income’ status but seek concessional loans appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka -...
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 few international headlines. But Sri Lankans are suffering amid the […]
Sri Lanka's central bank is likely to maintain interest rates on Thursday in an effort to get a grip on inflation which has remained stubbornly high despite a sharp contraction in the crisis-hit economy.The post Sri Lanka Central Bank to hold rates as inflation worries persist appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
Sri Lanka is struggling to secure dollar earnings and that has threatened its fuel, gas imports.
Consumer inflation in Sri Lanka accelerated to 70.2% in August,the statistics department said on Wednesday, as the island nation reels under its worst economic crisis in decades.The post Sri Lanka inflation rate surges to 70.2% in August appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Wickremesinghe also met King Charles III on Sunday September 18.
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 economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.The post Sri Lanka’s economy shrinks 8.4% amid fertiliser, fuel shortages appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ...
[…]The post Is Unelected President Ranil A Vicious Hypocrite? appeared first on Colombo Telegraph.
Sri Lanka’s ousted President Gotabaya Rajapaksa, who returned home after seven weeks in exile following protests over economic hardships, could face legal action over forced disappearances of activists now that he has been stripped of constitutional immunity, a lawyer said. Rajapaksa flew to Colombo around midnight Friday from Thailand and was escorted under military guard […]
; The International Monetary Fund (IMF) on Thursday announced that it will provide […]
Sri Lanka’s High Commissioner in New Delhi, Milinda Moragoda, has declared that the preliminary agreement with the International Monetary Fund (IMF), under which Sri Lanka could receive $2.9 billion to tackle the ongoing economic crisis, is a “first step” in the long haul of economic
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...
The budget is aimed at almost doubling the tax-to-GDP ratio to 15 percent by 2025 from 8.2 percent.
Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan to the crisis-hit country and a formal announcement will be made on Thursday, four sources with direct knowledge of the matter said.The post Crisis-hit Sri Lanka strikes staff-level pact
Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan to the crisis-hit country and a formal announcement will be made on Thursday, four sources with direct knowledge of the matter said. The island nation, struggling with its worst economic
Wickremesinghe is budgeting in a sea of monetary instability
By N Sathiya Moorthy After a steep, 75-per cent hike in power-tariffs, the government has now announced increased charges for water and drainage charges. Though brought down after a steeper increase at the peak of fuel-shortage, the transport fares too are not going to be the same even as much as they had become in […]
By Haroon Janjua Despite gaining independence 75 years ago, Pakistan has yet to rid itself of economic and political crises. As Pakistan marks 75 years of independence this weekend, Islamabad has not planned any special events, aside from a flag-raising ceremony, a fireworks display in the capital and the introduction of a new 75 rupee […]
A team from the International Monetary Fund (IMF) will meet Sri Lanka's president on Wednesday for talks to finalise a bailout package, including restructuring debt of about $29 billion, amid the nation's worst financial crisis in more than seven decades.The post IMF team to holds talks with crisis
An international human rights group says Sri Lanka's government is using emergency laws to harass and arbitrarily detain protesters who are seeking political reform and accountability amid the island country's economic crisis.The post Rights group says Sri Lanka harassed, intimidated protesters appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
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 […]