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[…]The post Only A Unified Approach Can Solve The Economic Crisis appeared first on Colombo Telegraph.
Negotiations to secure the second tranche of funding from the International Monetary Fund (IMF) to Sri Lanka are progressing positively, Acting Finance Minister Shehan Semasinghe announced.The post Sri Lanka’s acting finance minister says positive progress in securing second IMF tranche appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9bn bailout package, due to a potential shortfall in government revenue generation, Al Jazeera has reported, quoting the lender. Speaking after a two-week visit to the country, IMF delegation head Peter Breuer on Wednesday said a […]
Sri Lanka’s High Commissioner to India Milinda Moragoda who is to complete his tenure in Delhi shortly, paid a farewell call on the Minister of Finance and Corporate Affairs of India Smt. Nirmala Sitharaman today (27) at the Finance Ministry in New Delhi. During the call, the High Commissioner expressed his appreciation to Minister Sitharaman […]
Friday 29th September, 2023 The Rajapaksa-Wickremesinghe government continues to be at loggerheads with irate professionals, who are demanding solutions to their problems. Many of them have already left the country never to return thanks to the government’s callous disregard for their grievances. University teachers staged a protest in Colombo the other day in a bid […]
by SALIYA WEERAKOON and Prof. ALEX LIN CHEE LOK In 1914, Cambridge-educated D. R Wijewardena, arguably one of the most recognised entrepreneurs in the country, bought the Sinhala daily Dinamina. History also records that he purchased the English daily, Ceylon Daily News, in 1917. Consequently, Wijewardena is known as the press baron of the pre-independence of Ceylon. He […]
Herath alleges Budget Office part of flawed political strategy By Shamindra Ferdinando Civil society activist Sirithunga Jayasuriya Tuesday (26) said that those genuinely concerned about political strategies of the Wickremesinghe-Rajapaksa government should be wary of possible moves to put off the presidential election scheduled for next year. Pointing out that both Provincial Councils and Local [...
The Secretary of the Ministry of Environment, Dr. Anil Jasinghe, announced that Sri Lanka has formally committed to providing the essential funding for President Ranil Wickremesinghe s 2048 Green Economy Programme.
The International Monetary Fund (IMF) says despite early signs of stabilization, full economic recovery in Sri Lanka is not yet assured. Growth momentum remains subdued, with real GDP in the second quarter contracting by 3.1 percent on a year-on-year basis and high-frequency economic indicators continuing to provide mixed signals. Reserve accumulation has also slowed in […]
Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on Wednesday citing people familiar with the matter. The members want the group of major creditors, including the US, Japan and India, to sign a memorandum […]
The International Monetary Fund (IMF) mission team concluding its visit to Sri Lanka said that despite early signs of stabilization, full economic recovery is not yet assured.The post Despite signs of stabilization, full economic recovery not yet assured – IMF Mission appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lankan President Ranil Wickremesinghe left for Germany this morning (September 27) for a four-day state visit.The post Sri Lankan President leaves for Germany appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
President Ranil Wickremesinghe, in his address at the 2023 Commercial Mediation Symposium at Colombo’s Hilton Hotel, emphasized the need for a cultural shift towards efficient dispute resolution in Sri Lanka. He acknowledged the long-standing reliance on trial courts and stressed the importance of embracing alternate dispute resolution methods. Highlighting the government’s commitment, he mentione...
S&P Global Ratings on Monday (Sept. 25) raised its long- and short-term local currency sovereign credit ratings on Sri Lanka to ‘CCC+/C’ from ‘SD/SD’ (selective default).The post S&P raises Sri Lanka local currency ratings to ‘CCC+/C’, says outlook stable appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Legitimacy Deficit Haunts Government appeared first on Colombo Telegraph.
The reason why the United States sees China as an ever-bigger threat is not just because of its status as the world’s second-largest economy.The post Chinese model breaks U.S. hegemony: former Sri Lankan diplomat appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Rathindra Kuruwita President Ranil Wickremesinghe and the representatives of the International Monetary Fund (IMF) will today (26) discuss the progress Sri Lanka has made on its reform programme. This is the final discussion IMF representatives, who are here to review the loan before approving its second tranche, will hold in Sri Lanka. The IMF team arrived on 14 September. The […]
By Shamindra Ferdinando Governor of the Central Bank Dr. Nandalal Weerasinghe yesterday (25) questioned the conduct of some MPs who sought to direct public anger at officials over the economic crisis. Alleging that such an attempt had been made last year in the wake of attacks on politicians’ properties, Dr. Weerasinghe said that problems couldn’t […]
Over 200 corporate leaders attended the second Economic Forum sponsored by HSBC recently which was to discuss and share insights into the latest global trends and opportunities emerging for economic growth in Sri Lanka. Frederic Neumann, HSBC’s Chief Asia Economist and Co-Head of Global Research for HSBC Asia along with Aayushi Chaudhary, HSBC Economist for […]
The reason why the United States sees China as an ever-bigger threat is not just because of its status as the world s second-largest economy. It is primarily because China presents an alternative development model distinct from that advocated by the US and its western allies...
[…]The post Target 2048 – Complex Economy System appeared first on Colombo Telegraph.
By N Sathiya Moorthy First, it was former Central Bank Governor Dr Indrajith Kumaraswamy. He was the chosen man of President Ranil Wickremesinghe, the then Prime Minister, for the job after his previous choice from Singapore, Arjuna Mahendran, scooted away in the light of the ‘bonds scam’ expose. The man is yet to be traced, for […]
[…]The post Glocalization Without Financialization appeared first on Colombo Telegraph.
Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage.The post Sri Lanka pays off $200 million loan from Bangladesh with $4.5 million interest appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
by Shihar Aneez State revenue has seen a shortfall of Rs. 100 billion as of now compared to the revenue target agreed with the International Monetary Fund (IMF), State Finance Minister Ranjith Siyambalapitiya said.Tax cuts for political reasons in December 2019 has resulted in a sharp fall in Sri Lanka’s tax revenue to GDP ratio, […]
Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage. In the last instalment, Sri Lanka paid about $50 million and $4.5 million in interest on the loan on Thursday night, a senior official of Bangladesh […]
India and Sri Lanka have had talks on resuming the controversial Economic and Technology Cooperation Agreement (ETCA). According to the President’s Media Division, the chief negotiators of Sri Lanka and India held a virtual meeting to discuss the resumption of the ETCA negotiations. This marks the continuation of talks after 11 previous rounds of negotiations, […]
[…]The post 117th Birth Anniversary & Long Legacy Of JR Jayewardene appeared first on Colombo Telegraph.
[…]The post Trump-Ramasamy Ticket GOP’s Best Bet In 2024; US Events Will Affect The Whole World appeared first on Colombo Telegraph.
By Hiran H.Senewiratne The overall business sentiment at the CSE improved yesterday following the Department of Census and Statistics announcement that Sri Lanka’s national inflation rate has come down to 2.1 percent, which at one time moved up close to 70 percent last year, market analysts said. Further, the market also got a boost when […]