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Sri Lanka’s international bondholders group was prepared to engage with the island nation’s authorities in debt restructuring talks consistent with the parameters of the IMF Programme, their legal adviser, White & Case LLP, said.The post Sri Lanka bondholders ready for debt restructuring talks with authorities appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News...
Sri Lanka's key inflation rate eased to 54.2% in January from 57.2% in December, the country's statistics department said on Tuesday.The post Sri Lanka’s key inflation rate eases to 54.2% in January appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
China’s efforts to gain the space it lost in Sri Lanka to India have hit yet another stumbling block after it vehemently opposed the invitation to Tibetan Buddhist spiritual guru Dalai Lama. Sri Lanka is a Buddhist-majority country and China’s record of treatment of religious minorities especially Tibetan Buddhists has not been good. China’s image […]
The International Monetary Fund (IMF) is still awaiting assurances on Sri Lanka in order to present a Fund-supported program for Sri Lanka to the IMF’s Executive Board, for approval. The IMF confirmed that India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary […]
India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday.The post India commits to help Sri Lanka on debt in prospective IMF program appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The International Monetary Fund wants Sri Lanka to provide more relief to the poor and vulnerable people during the financial crisis in order to secure IMF board approval for financial assistance. State Minister of Finance Shehan Semasinghe said that providing relief to the poor is an essential
India’s External Affairs Minister S. Jaishankar on Thursday met Sri Lanka's top leadership and conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery.The post Jaishankar conveys India’s commitment to increase investment flows to Sri Lanka to hasten economic recovery appeared first on Sri Lanka News - Latest Breaking News in Sri La...
India's foreign minister arrives in Colombo on Thursday following his country's backing of Sri Lanka for a $2.9 billion International Monetary Fund (IMF) loan, leaving China as the island's last remaining major creditor to agree to a debt restructuring plan.The post India foreign minister visits Sri Lanka with stronger ties, China in focus appeared first on Sri Lanka News - Latest Breaking News in...
India has told the International Monetary Fund that it strongly supports Sri Lanka's debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters.The post India ‘strongly supports’ Sri Lanka debt restructuring plan, it tells IMF appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The government is considering a contributory pension scheme for the government employees, who have been recruited after 2016, Prime Minister Dinesh Gunawardena told Parliament yesterday (January 17).The post Contributory pension scheme for those joining state sector after 2016 – Prime Minister appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7%, but the losses could reach 8-12% in some countries, if technology is also decoupled, the International Monetary Fund (IMF) said in a new staff report.The post IMF says fragmentation could cost global economy up to 7% of GDP appeared first on Sri Lanka News ...
President Ranil Wickremesinghe emphasised the need of working within one policy framework by all while facing the economic difficulties the country is confronted with, President's Media Division (PMD) said.The post Let’s solve economic issues by working within one policy framework – President appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
President Ranil Wickremesinghe has said that India’s response to cash-strapped Sri Lanka’s request for debt restructuring is expected by the end of this month. Sri Lanka, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), has been trying to to get financial assurances from its major creditors […]
[…]The post Controversial Social Activists & Freedom of Expression: Hateful Words Can Be As Dangerous As Physical Violence appeared first on Colombo Telegraph.
Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore blocks for foreign firms to scout for energy resources and bring in vital investments to the crisis-hit country, a top official told Reuters on Thursday.The post Sri Lanka finalises oil exploration rules, earmarks 900 offshore blocks appeared first on Sri Lanka News - Latest Breaking News in Sri L...
By Dr. C. S. Weeraratna (csweera@sltnet.lk) Sri Lanka is facing an unprecedented crisis mainly due to economic mismanagement and corruption in the various development sectors. During the last few weeks, at various discussions related to the country’s economy, the need to take effective action on the present economic situation in the country has been highlighted. […]
Why did former President Sirisena vacate the Paget Road residence, having made it part of his ‘deal’ with the UNP? A three-judge bench of the Supreme Court, comprising Justices Priyantha Jayawardena, Gamini Amarasekara, and Kumuduni Wickremasinghe, having examined the arguments put forward by both the petitioner and respondent parties, issued an interim order on March […]
Sri Lanka Government decided to curtail 5% of the estimated expenditure allocated under the proposals of the 2023 Budget to all ministries.The post Sri Lanka Government in financial crisis: Government employees’ salaries to be delayed? appeared first on Sri Lanka News - Latest Breaking News in Sri
Sri Lanka's cabinet on Monday approved new electricity tariffs to reflect the cost of coal and power generation to take effect this month, Power Minister Kanchana Wijesekera said, without saying how much higher they would be.The post Sri Lanka cabinet approves new electricity tariff without saying what it is appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
India has handed 75 passenger buses to Sri Lanka as part of its assistance towards strengthening public transport infrastructure in the cash-strapped country.The post India provides 75 buses to Sri Lanka to support public transport system appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Bangladesh Prime Minister Sheikh Hasina and Sri Lankan President Ranil Wickremesinghe will be among 20 world leaders who will participate in the “Voice of the Global South Summit” (VGSS) next week hosted by India virtually, Indian media reported.The post President to participate in India-hosted Voice of Global South Summit – report appeared first on Sri Lanka News - Latest Breaking News in S...
Foreign assistance to overcome Sri Lanka’s financial crisis will not be available as the international community has no trust in incumbent government, says the main opposition SJB. Addressing the media at the Opposition Leader’s office in Colombo recently, Chief Opposition Whip and Kandy District
Sri Lanka will restart negotiations on trade pacts with India, China and Thailand after a four-hear hiatus, an official said on Thursday, as the crisis-hit country races to seal deals to help it rebuild its economy.The post Sri Lanka to restart trade deal talks with India, China and Thailand – official appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
by Eng. Parakrama Jayasinghe This is the question in everybody’s mind these days. Anything up to 10 hours of blackouts have been predicted by the Ceylon Electricity Board (CEB) trade unions. But Minister of Power and Energy, Kanchana Wijesekera, has been quick to contest this prediction while being careful not to say that there will […]
[…]The post Prospects For Global Capitalism: 2023 & After appeared first on Colombo Telegraph.
USD 4 mn available to stabilize food sector Against the backdrop of the country’s continuing financial crisis, the US has teamed with premier blue chip, John Keells Holdings, and the Hatton National Bank (HNB) to lend money to micro, small, and medium-sized enterprises (MSMEs) in the food sector
When Sri Lanka slid into its worst economic crisis in seven decades leading to deadly riots and alarming shortages of fuel, food and medicines earlier this year, its giant northern neighbour stepped into the breach.The post India makes inroads into Sri Lanka under China’s long shadow appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka's National Consumer Price Index (NCPI) (LKNCPI=ECI) eased year-on-year to 65% in November after a 70.6% jump in October, the statistics department said on Wednesday.The post Sri Lanka’s national consumer price inflation eases to 65% in November appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
By Easwaran Rutnam France, which is part of the Paris Club, is in talks with Sri Lanka’s creditors in an attempt to ensure a solution is reached for the financial crisis sooner than later. The newly appointed French Ambassador to Sri Lanka, Jean-François Pactet, told a select group of journalists
Sri Lanka's economy shrank 11.8% in the July-September quarter from a year ago, the second worst for the country, government data showed on Thursday, as it struggled with deep unrest sparked by its most severe financial crisis in decades.The post Sri Lanka’s economy shrinks 11.8