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H.J.M Seneviratne, 63, slices through yellowed paddy stems dried out by a drought that has destroyed over 95% of his crop and is threatening crisis-hit Sri Lanka's summer rice harvest.The post Drought dents Sri Lanka’s economic hopes, farmers’ livelihood appeared first on ONLANKA - Sri
Thuesday 22nd August, 2023 No sooner had the Indian government announced its decision to impose a 40% tax on onion exports to overcome a shortfall in the domestic supply than Sri Lankan traders jacked up onion prices exponentially. They would not have reacted so swiftly to a drop in onion prices in the international market. […]
Sri Lanka expects the first review by the International Monetary Fund (IMF) in September to be successful. State Minister of Finance Shehan Semasinghe said that the IMF will assess the programme’s performance until the end of June. “We welcome the IMF team in Sri Lanka for the first review of the Extended Fund Facility (EFF) […]
Sri Lanka’s largest bilateral creditor, China, has assured the island nation its help in effectively addressing the debt challenges as it has to finalise the external and domestic debt restructuring of a whopping USD 41 billion by September before the IMF’s first review. The International Monetary Fund (IMF) is set to conduct its first review […]
An International Monetary Fund (IMF) staff team will visit Colombo in a month's time for the first review on Sri Lanka's loan programme, a spokesperson said on Tuesday.The post IMF staff to visit Sri Lanka in September for first programme review appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
An International Monetary Fund (IMF) staff team will visit Colombo in a month’s time for the first review on Sri Lanka’s loan programme, a spokesperson said. The Washington-based lender approved a nearly US$3 billion bailout for crisis-hit Sri Lanka in March. The Asian island
By N Sathiya Moorthy Recently, Education Minister Susil Premajayantha told Parliament that the Government was making efforts to increase the number of teachers across the country — but there would still remain a shortage of 26,000 teachers. His proposals include hiring retired and former teachers for provincial councils, which already have the funds allocated for the […]
The IMF will conduct the first review of the $2.9 billion bailout to Sri Lanka from September 11-19, state minister of finance Ranjith Siyambalapitiya said on Saturday and declared that the country has successfully fulfilled the nine conditions set by the global lender.The post IMF to conduct bailout review for Sri Lanka in September appeared first on ONLANKA - Sri Lanka Latest Breaking News and T...
Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the governor of the country's central bank, Nandalal Weerasinghe, said at a LSEG FX Community Event on Monday.The post Sri Lanka central bank chief: monetary policy transmission still incomplete appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
SJB MP Eran Wickramaratne says the importation of inferior medicine by way of emergency procurement and non-functioning medical, surgical and other test equipment in hospitals have ruined the public health sector. Addressing the Media at the Office of the Leader of Opposition on Sunday (6Aug2023), Wickramaratne said that this pathetic situation in the health sector […]
By N Sathiya Moorthy If someone thought that President Ranil Wickremesinghe was funny about it, he was not. If anything, it sounded more Quixotic than possibly predecessor Gotabaya Rajapaksa’s misadventure with ‘organic farming’. According to reports, at an official meeting the other day, Wickremesinghe asked Health Ministry officials to devise a strategy to seek compensation […]
Sri Lanka decided to immediately suspend the use of rice for the production of animal feed and beer.The post Sri Lanka suspends use of rice to make beer and feed animals appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
In a veiled attack on China, National Security Adviser Ajit Doval said BRICS could work together on listing terrorists and their proxies under the UN counter-terrorism sanctions regime but emphasised that the process should be free from “politics and double standards.” Ajit Doval made the remarks during the meeting of the National Security Advisers of […]
At first glance, life in Sri Lanka's financial capital Colombo looks deceptively normal.The post Is the worst over for Sri Lanka’s economic crisis? appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Babarandage Don Sarath Appuham, a 59-year-old fisherman, has worked at Negombo Lagoon since he was a teenager. Palpable differences in tide patterns and fish catches from climate change have complicated his work. “We used to always go at 9am, then 1pm. It’s no longer that predictable,” Sarath told Al Jazeera. They have to gauge conditions […]
[…]The post A Year After Rajapaksa, Sri Lanka Remains In Crisis: New Leadership Has Failed To Uphold Basic Rights, Bring Accountability appeared first on Colombo Telegraph.
By Dr. C. S. Weeraratna (csweera@sltnet.lk) Poverty is a condition characterized by severe deprivation of basic human needs, such as food, shelter, safe drinking water, sanitation facilities, health, and education. Various criteria are used to measure poverty. The most commonly used is based on incomes. A person is considered poor if his or her income level […]
[…]The post The Misunderstood Taxation Of EPF & Other Superannuation Funds appeared first on Colombo Telegraph.
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 […]
The US will send Ukraine a cluster munitions package to help in its counteroffensive against Russia. The White House said it had postponed the decision for as long as it could because of the risk of civilian harm from such unexploded ordnance. Ukraine has been asking for the weapons for months amid an ammunition shortage. […]
The United Nations Development Programme (UNDP) in Sri Lanka and Michelin Foundation have partnered to procure essential medicines for Sri Lanka. The medicines were handed over to the Ministry of Health this morning, in the presence of Keheliya Rambukwella, Minister of Health, and Dr. Anver Hamdani, Director Medical Technical Services, Coordinating In Charge/ COVID-19, Ministry […]
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran
[…]The post Wickremesinghe Safeguards The Rajapaksas; Mega Business Safeguards Wickremesinghe? appeared first on Colombo Telegraph.
Health Minister Keheliya Rambukwella has threatened to resign from his post if he is unable to resolve the shortage of medicines in the market. Speaking in Parliament today, Rambukwella said that a legal issue and shortage of funds had resulted in a crisis in importing drugs. Rambukwella
By Prabhat Patnaik After Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis. It has asked for a $4.5 billion loan from the IMF, apart from $1 billion from the World Bank and $2.5-3 billion from multilateral agencies
Beijing [China], June 10 (ANI): China’s local governments are finding it difficult to service debt raised via municipal and Local Government Financing Vehicles (LGFVs) bonds, as their fiscal position has become tight due to the slowing economic growth and fall in revenue receipts amid a downturn in the property market. According to S&P Global Ratings […]
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
A highly appreciative skill of the Pakistani administration is their extensive theatricals which can deceive the most intelligent of men. Lengthy speeches in the parliament are converted into minutes packed with wise counsel. After collecting enough praises and spewing venom on the opposition, they end up ultimately doing what they would do anyway — putting […]
[…]The post The Food Crisis In Sri Lanka: Why We Must Act Now! appeared first on Colombo Telegraph.
Sri Lanka Government to relax existing import restrictions on about 300 to 400 items from next week.The post Sri Lanka Government to relax import restrictions on nearly 400 items appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.