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Sri Lanka’s Central Bank Governor Dr. Nandala Weerasinghe has emphasized the importance of the continuity of the Extended Fund Facility (EFF) agreement with the International Monetary Fund (IMF).The post Sri Lanka’s Central Bank Governor says IMF agreement must be continued under any Government appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s Central Bank lays out policies to restore price stability, macroeconomic strength (Category: Breaking News)
- Sri Lanka unexpectedly raises rates to fulfil IMF bailout requirements (Category: Breaking News)
- Sri Lanka central bank chief: monetary policy transmission still incomplete (Category: Breaking News)
- Sri Lanka gives China deal details, keeping IMF aid on track (Category: Breaking News)
The banking sector has recovered less than 0.5% of total loans with the help of Parate execution, the governor of the Central Bank of Sri Lanka, Dr. Nandalal Weerasinghe said on Friday (29) at a press conference in Colombo. Dr. Weerasinghe said that a previous Supreme Court decision had prevented banks from using Parate laws […]
- SJB asks govt. to halt parate executions (Category: Breaking News)
- Ministers of Justice and Health on collision course with association of banks (Category: Breaking News)
- Draft Bill facilitating Parate Law suspension to be gazetted (Category: Breaking News)
- Bill related suspension of Parate Law passed in parliament (Category: Breaking News)
by Dr Upul Wijayawardhana Reading “From heyday to ‘hay day’”, the hard-hitting editorial laced with sarcasm (The Island, 18 December) and “Declining power and challenges before SLPP” by Shamindra Ferdinando in the Midweek Review of 20th December, I began wondering whether the recently concluded SLPP convention was the final flicker before the flame was extinguished […...
- Dons condemn suppression of Aragalaya movement (Category: Breaking News)
- SJB: JVP’s call for RW’s participation in proposed debate diversionary tactic (Category: Breaking News)
- SJB Leader wants action against not only Rambukwella but also 113 MPs who defeated no-faith motion (Category: Breaking News)
- Opposition calls SLPP bluff, challenges ruling party to defeat budget (Category: Breaking News)
Wijeyadasa pushes for suspension of Parate executions: ‘Country paying heavy price for not having proper tax regime, favourable treatment to some’ By Shamindra Ferdinando Justice, Prisons Affairs and Constitutional Reforms Minister Dr. Wijeyadasa Rajapakse, PC, has assured the local business community, troubled by parate executions, that laws will be brought in to regulate the practice. The [̷...
- Only 0.4% of loans recovered using Parate laws – CBSL (Category: Breaking News)
- Amendment to Parate Law expected in future parliament session - Wijeyadasa (Category: Breaking News)
- Justice Minister: State outfits disregard parliamentary control over public finance (Category: Breaking News)
- Wijeyadasa: Presidential election will be held in 2024 (Category: Breaking News)
Israel has turned to India and Sri Lanka in its search for much-needed workers to revive its largely comatose construction industry, after the country deported thousands of Palestinian workers and revoked their work permits following Hamas’ Oct 7 attack on it. Around 82,000 Palestinians worked in the country’s construction industry prior to the assault, accounting for a third of the sector’s [R...
- Sri Lanka Navy detains 12 Indian fishermen (Category: Breaking News)
- Japanese farms recruiting workers from Sri Lanka (Category: Breaking News)
- Ship with two Sri Lankans hit by Houthi missile killing three seafarers (Category: Breaking News)
- First batch of Sri Lankan workers sent to Israel despite conflict (Category: Breaking News)
Banks exercise their legally-enshrined right to Parate Execution as a last resort and the overarching objective is the protection of depositors’ funds that have been lent to borrowers, the Sri Lanka Banks Association (SLBA) has said in a statement to the media. Responding to what it termed as lobbying by a group of defaulting borrowers […]
- Ministers of Justice and Health on collision course with association of banks (Category: Breaking News)
- SLBA calls for government engagement to facilitate debt recovery process (Category: Breaking News)
- Only 0.4% of loans recovered using Parate laws – CBSL (Category: Breaking News)
- Suspension Of Parate Execution Won’t Do; Establish Bad Bank To Resolve Issue Permanently: Dr. An... (Category: Breaking News)
[…]The post Acting IGP & Police Minister Have Woken Up From A Deep Sleep? appeared first on Colombo Telegraph.
- Lack of Common Sense Of A Time-Expired President (Category: Breaking News)
- The Malicious “Shafi Frame Up”: Will 2023 See The Guilty Being Punished? (Category: Breaking News)
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
- The Curse Of JRJ Constitution Continues (Category: Breaking News)
[…]The post No Christmas In Bethlehem, Vatican Breakthrough & Himalayan Declaration appeared first on Colombo Telegraph.
- No room at the inn as Bethlehem celebrates Christmas (Category: Breaking News)
- Nativity Church in Bethlehem to bless President Rajapaksa (Category: Breaking News)
- A mass in Bethlehem to bless the President (Category: Breaking News)
- Coronavirus dampens Christmas joy in Bethlehem and elsewhere (Category: USA, South Dakota)
The Samagi Jana Balawegaya (SJB) has cautioned the Wickremesinghe-Rajapaksa government against counting loans received from the International Monetary Fund (IMF), World Bank and Asian Development Bank (ADB) as external buffers as they have to be paid back.The post Samagi Jana Balawegaya warns against counting foreign loans as part of forex reserves appeared first on ONLANKA - Sri Lanka Latest Brea...
- SJB warns against counting foreign loans as part of forex reserves (Category: Breaking News)
- Harsha rubbishes President’s claim LG polls cannot be held (Category: Breaking News)
- Ready to support all-party govt, Harsha says (Category: Breaking News)
- Public Finance Committee Chief Harsha De Silva demands President publicize IMF conditions (Category: Breaking News)
The Inland Revenue Department yesterday (21) issued the list of goods and services that would be exempted from the enhanced Value Added Tax (VAT) regime that comes into effect from 01 January 2024. The list of items included Wheat and wheat flour; infant milk powder; Pharmaceutical Products and Drugs (other than cosmetics) whose end use […]
- Tech Focus (Category: Business)
- Mobile Awareness (Category: Business)
- Tele Tracks (Category: Business)
- Post Loss (Category: Business)
The SJB has cautioned the Wickremesinghe-Rajapaksa government against counting loans received from the IMF, World Bank and ADB as external buffers as they have to be paid back. SJB MP Dr. Harsha de Silva said loans secured from whatever sources weren’t earned reserves. The former UNP State Minister and economist said so when we sought […]
- Samagi Jana Balawegaya warns against counting foreign loans as part of forex reserves (Category: Breaking News)
- Initial consensus among MPs on recovery plan (Category: Breaking News)
- Central Bank eyeing USD 8 -10 billion currency reserves in 3-4 years (Category: Breaking News)
- Udaya wants public, private sector workers paid on weekly basis in view of economic crisis (Category: Breaking News)
Sri Lanka said on Wednesday it expects its foreign exchange reserves to rise above $4 billion this month, their highest level since the island nation plunged last year into its worst economic crisis since independence in 1948.The post Sri Lanka sees forex reserves exceeding $4 billion after fresh funding appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Exclusive: Sri Lanka expects up to $8 billion more in loans, asset restructuring (Category: Breaking News)
- India to allow Sri Lanka to repay debt over 12 years (Category: Breaking News)
- India plans no more funding for Sri Lanka as IMF talks progress (Category: Breaking News)
- Samagi Jana Balawegaya warns against counting foreign loans as part of forex reserves (Category: Breaking News)
The World Bank has released 250 million U.S. dollars as the second tranche of the Resilience, Stability and Economic Turnaround (RESET) Development Policy Operation (DPO), the international lender said in a statement on Wednesday (20). In June, the World Bank announced 500 million dollars for the RESET Development Policy Operation, which supports reforms that improve […]
- Top Marks (Category: Business)
- Islamic Banking (Category: Business)
- Lucky Thirteen (Category: Business)
- Top Marks (Category: Business)
The World Bank released the second tranche of the US$ 500 million Sri Lanka Resilience, Stability and Economic Turnaround (RESET) Development Policy Operation (DPO), considering the continued satisfactory progress made by the government with the reform program.The post World Bank releases additional USD 250 million for Sri Lanka to sustain economic reforms appeared first on ONLANKA - Sri Lanka Lat...
- No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank (Category: Breaking News)
- Sri Lanka sees forex reserves exceeding $4 billion after fresh funding (Category: Breaking News)
- World Bank approves $700 Million for crisis-hit Sri Lanka (Category: Breaking News)
- World Bank approves Sri Lanka’s eligibility to access concessional financing (Category: Breaking News)
In actual fact the foundation for the current economic chaos was laid under the Yahapalana rule when they borrowed as much as USD 12 billion from the international bond market, at high interest rates, with them not even undertaking any developmental works, like the Rajapaksas, or, for that matter, any worthwhile economic activity. We certainly […]
- Readying for the big fight (Category: Breaking News)
- Talks underway with dissident SLPPers: Chief Opp. Whip (Category: Breaking News)
- Ranil – A Man With A Soul So Dead (Category: Breaking News)
- SJB asks Mahinda why he protects Ranil if SLPP plans to go it alone at next election (Category: Breaking News)
[An article based on the Keynote Address delivered by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, recently at the Annual Research Symposium 2023 of the University of Colombo] Introduction Inflation affects every aspect of our lives; it is a force that shapes our purchasing power, influences our financial decisions, and […]
- Nexus between money, exchange rate, money printing and inflation (Category: Breaking News)
- ‘SL’s inflation reduced to single digit levels in 2023 along with restoration of price stability’ (Category: Breaking News)
- High interest rates have prevented contraction of economy – CBSL Governor (Category: Breaking News)
- CB eases monetary conditions by reducing its interest rates (Category: Breaking News)
Sri Lanka President Ranil Wickremesinghe has urged all political leaders to exhibit responsibility in their approach to the International Monetary Fund (IMF) program.The post Sri Lanka President calls for proposals from opponents of IMF program to rescue country from financial crisis appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- The President desires to make the most of the development opportunities in the Indian Ocean regi... (Category: Breaking News)
- Rupees 1,500 million allocated for ‘Greater Kandy Urban Development Program’ – State Minister fo... (Category: Breaking News)
- Sri Lanka will not allow anything harmful to India’s security – President Ranil (Category: Breaking News)
- Having Proper plan to strengthen Sri Lanka’s economy is important – President (Category: Breaking News)
[…]The post Lending In A Recession: Banks Should Do Venture Capital Financing For Startups appeared first on Colombo Telegraph.
- Suspension Of Parate Execution Won’t Do; Establish Bad Bank To Resolve Issue Permanently: Dr. An... (Category: Breaking News)
- Debate Over Profits Of Banks: Who Shares Them Ultimately? – Part II (Category: Breaking News)
- Debate Over Profits Of Banks: Who Shares Them Ultimately? (Category: Breaking News)
- Four Popular Fallacies Relating To Central Banking (Category: Breaking News)
[…]The post 2024 Election Year; The Perennial Challenge Of Cleaning The Stables For Sri Lanka! appeared first on Colombo Telegraph.
- Can Sri Lanka Come Out Of Its ‘Deer In The Headlights’ Mindset? (Category: Breaking News)
- Keeping The Risen-Up Electorate Awake; An Imperative! (Category: Breaking News)
- Politics & Death Of Sanath Nishantha: Some Sombre Lessons & Reflections (Category: Breaking News)
- Beyond Ousting The Shamed ‘Suhartos’ Of Sri Lanka! (Category: Breaking News)
[…]The post Citizens Need A Snow White To Prod The Dwarfs In Governance & Society! appeared first on Colombo Telegraph.
- Is Post-Crisis Essential Reforms Being Effectively Progressed? If Not What Is The Way Forward? (Category: Breaking News)
- A Postscript To Political Crisis: A Way Out (Category: Breaking News)
- Mr. President, Dawn Of The New Year Is The Time For Reflection & To Redress Citizens Grievances ... (Category: Breaking News)
- Are Providers Of Information Under RTI Cognizant Of Their Obligations? (Category: Breaking News)
… explains how Parliament enacted harmful laws By Shamindra Ferdinando Veteran lawyer Kalyananda Thiranagama said that the ruling Sri Lanka Podujana Peremuna (SLPP) should be held responsible for backing President Ranil Wickremesinghe’s economic strategy meant to privatise the remaining state enterprises. Addressing a public gathering in Colombo, the liberal civil society activist emphasised that ...
- Kanchana’s warning to restrict fuel supplies irrelevant, all imports already disrupted-SJB (Category: Breaking News)
- SLPP defends PTA, calls for probe into ‘terror’ angle (Category: Breaking News)
- GR’s ouster: Speaker urged to name foreign elements (Category: Breaking News)
- SJB alleges bid to derail election process on privilege issue affront to entire electorate (Category: Breaking News)
Sri Lanka's economy grew by 1.6% in the quarter from July to September, official data showed on Friday, as the country claws its way back from its worst financial crisis in more than seven decades following a record fall in foreign exchange reserves.The post Sri Lanka’s economy returns
- Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says (Category: Breaking News)
- Sri Lanka’s Economy suffers worst contraction in 2022 (Category: Breaking News)
- Sri Lanka central bank chief: monetary policy transmission still incomplete (Category: Breaking News)
- Sri Lanka’s economy shrinks 11.8% in second-worst performance (Category: Breaking News)
The second review of Sri Lanka's $2.9 billion bailout with the IMF could be completed in the first half of 2024, provided it manages to meet debt restructuring and revenue targets set under the programme, an official said on Wednesday.The post Sri Lanka’s second review of $2.9 billion IMF bailout possible in first half of 2024 – official appeared first on ONLANKA - Sri Lanka Latest Bre...
- IMF Team to conduct second review of Sri Lanka’s EFF program in March 2024 (Category: Breaking News)
- IMF ready to support Sri Lanka’s discussions with bondholders (Category: Breaking News)
- IMF says Sri Lanka debt deal could help board clear first bailout review (Category: Breaking News)
- IMF to conduct bailout review for Sri Lanka in September (Category: Breaking News)
By Shamindra Ferdinando Chairman of the Committee on Ways and Means Patali Champika Ranawaka on Tuesday (12) alleged that the Finance Ministry had allowed the operation of a distillery in spite of that company failing to pay taxes. The former minister said that the country lost millions for want of political will to recover what that company owed […]
- Govt. MP slams Finance Ministry over gaping holes in tax collection system (Category: Breaking News)
- Corrupt elements use Parliament, Finance Ministry to evade taxes (Category: Breaking News)
- Parliament flays FM, etc., for revenue shortfalls: Siyambalapitya says situation not properly as... (Category: Breaking News)
- Accusations reiterated, explanation sought from FM (Category: Breaking News)
By Rathindra Kuruwita IMF’s second review under the 48-month Extended Fund Facility (EFF) arrangement for Sri Lanka is expected to be completed by the end of the first half of 2024, IMF Senior Mission Chief for Sri Lanka, Peter Breuer, told journalists Wednesday morning. Addressing the IMF’s Virtual Press Briefing on the First Review of […]
- IMF Executive Board to take up Sri Lanka s first review on Dec.12 (Category: Breaking News)
- IMF Executive Board set to take up Sri Lanka s first review today (Category: Breaking News)
- IMF team to visit Sri Lanka for second EFF review (Category: Breaking News)
- IMF convenes special press briefing on Sri Lanka s first review (Category: Breaking News)
President Ranil Wickremesinghe told Parliament yesterday that Sri Lanka was set to come out of bankruptcy by securing of the second tranche of the International Monetary Fund’s (IMF’s) Extended Fund Facility. “We will now focus on securing the foreign aid that was suspended after we declared bankruptcy,” the President said, making a special statement to Parliament […]
- No objection from CB chief to tabling IMF deal:Speaker (Category: Breaking News)
- IMF working with a government without a mandate – Handunnetti (Category: Breaking News)
- CBK: Proposed anti-corruption bill inadequate to end widespread problem (Category: Breaking News)
- Ranil likely to go for presidential poll first – sources (Category: Breaking News)
In a special statement to Parliament today (13), President Ranil Wickremesinghe emphasized the critical role of the government’s program, backed by assistance from the International Monetary Fund (IMF) and debt restructuring, in rebuilding the collapsed Sri Lankan economy. The President warned
- Kamala Harris' VP win is huge for HBCUs, Tougaloo president says (Category: USA, Mississippi)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
The International Monetary Fund (IMF) said its executive board cleared the first review of Sri Lanka's about $3 billion bailout on Tuesday, providing about $337 million in funds to help tackle the fallout from the country's worst financial crisis in decades.The post IMF board approves first review of Sri Lanka’s nearly $3 billion bailout appeared first on ONLANKA - Sri Lanka Latest Breaking ...
- IMF says Sri Lanka debt deal could help board clear first bailout review (Category: Breaking News)
- IMF staff to visit Sri Lanka in September for first programme review (Category: Breaking News)
- IMF board poised to approve $2.9 billion Sri Lanka bailout (Category: Breaking News)
- First review of IMF’s Extended Fund Facility for Sri Lanka to commence today (Category: Breaking News)
The Executive Board of the International Monetary Fund (IMF) has approved the disbursement of approximately US$ 337 million to Sri Lanka as part of a bailout package. The IMF said the Executive Board completed the first review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with access to SDR 254 million […]
- IMF says full economic recovery in Sri Lanka is not yet assured (Category: Breaking News)
- IMF reaches crucial staff-level agreement with Sri Lanka following first review (Category: Breaking News)
- Human Rights Watch fears IMF loan could erode rights in Sri Lanka (Category: Breaking News)
- IMF confident Sri Lanka can be put on the path to prosperity (Category: Breaking News)
[…]The post Why NPP? appeared first on Colombo Telegraph.
- Homework For NPP (Category: Breaking News)
- NPP Deserves Fairness From Critics (Category: Breaking News)
- RW, IMF & The Economy (Category: Breaking News)
- NPP & Bird Cage Economy (Category: Breaking News)
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