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The World Bank warned that Sri Lanka’s economic crisis is deepening with unsustainable debt and a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic. Debt restructuring and the implementation of a deep reform program are critical for Sri Lanka’s economic stabilization, says the World Bank in its twice-a-year update, […]
- World Bank approves Sri Lanka’s access to concessional financing (Category: Breaking News)
- Bangladesh expects Sri Lanka to repay $200 million by March 2023 (Category: Breaking News)
- World Bank suspends financing to Sri Lanka (Category: Breaking News)
- IMF reiterates prior actions Sri Lanka must take to approve funds (Category: Breaking News)
Unlike the financial crisis of 2008, the economic levers alone were insufficient to stimulate global economic recovery in 2022 as what had led to the current crisis was the consequences of evolving geopolitics, President Ranil Wickremesinghe said on Thursday at the ADB’s 55th annual meeting. “
- A Sri Lankan initiative to meet global challenges (Category: Breaking News)
- RW says great power rivalries and geopolitics emerging threat to Third World (Category: Breaking News)
- Chinese Ambassador outlines numerous benefits reaped by Sri Lanka from BRI (Category: Breaking News)
- Sri Lanka Hones Its Balancing Act (Category: Breaking News)
Wickremesinghe says Sri Lanka is taking some painful reforms to come out of economic crisis
- Economic levers alone not sufficient to stimulate global economic recovery – President (Category: Breaking News)
- Non-aligned nations, once perceived as weak states, have evolved beyond that characterization -P... (Category: Breaking News)
- Sri Lanka appeals to creditors for help (Category: Breaking News)
- Central Bank’s Check List for 2012 and beyond (Category: Business)
For the first time in parliamentary history, the Central Bank of Sri Lanka has issued a dire warning to Parliament and political parties therein over the responsibility on their part to ensure financial stability and discipline. Their failure to do so would trigger public protests again, they were told. There hadn’t been such a public […]
- All praise for Lanka’s saviours! (Category: Breaking News)
- Shocking claim in House: Bandula reveals how sugar importers, their henchmen trapped Prez (Category: Breaking News)
- Herath: COPE dissolution must not hinder probe into economic crisis (Category: Breaking News)
- The fall of Pohottuwa govt. (Category: Breaking News)
By Shamindra Ferdinando The Sri Lanka Institute of Directors (SLID) and Transparency International Sri Lanka (TISL) recently declared corruption as the root cause of Sri Lanka’s current political and economic crisis. The declaration was made in a statement titled, “SLID and TISL launch ‘Business Against Corruption’ Initiative” issued to the media after the two organisations […]
- Of Elections, Bond Scams & Money Politics: The Anatomy Of Default @75 (Category: Breaking News)
- Treasury bond scams: SJB drags Lotus Tower into ‘conflict’ as SLPP attacks ‘footnote’ gang (Category: Breaking News)
- Massive Corruption Scams Rock The Land Of The Mahatma (Category: Breaking News)
- Sri Lanka accelerates financial literacy drive amid scams (Category: Breaking News)
Beijing [China], August 12 (ANI): Recent protests in China’s Henan province underline the risks being faced by banks as the real estate sector continues to struggle. The real estate sector in China accounts for around 24 per cent of gross domestic product (GDP), almost a quarter of the nation’s GDP, according to authors Ahana Roy […]
- China vulnerable to asset bubbles, warns IMF (Category: Business)
- Ditched by Communist Party, Chinese billionaire loses 93 per cent of his fortune (Category: Breaking News)
- Will China’s sprawling debt problem worsen? (Category: Breaking News)
- What to Know About China’s Real Estate Crisis (Category: Breaking News)
The widely acclaimed globalisation of the post-Cold-War era is now running in reverse. A protracted slowdown in global trade has been reinforced by persistent pandemic-related supply chain disruptions, ongoing pressures of the US-China trade war and efforts to align cross-border economic ties with geostrategic alliances, known as “friend-shoring”. These developments raise the pressure on China, [&...
- Sri Lanka turmoil highlights risk for Chinese firms investing overseas (Category: Breaking News)
- Alibaba, HSBC, AIA pace rout in Hong Kong on Taiwan tensions as China promises ‘firm and strong’... (Category: Breaking News)
- China’s dual-use surveillance ship in Sri Lankan port underscores distrust of Beijing’s tech adv... (Category: Breaking News)
- Apple supplier Foxconn’s iPad factory in southwest China halts production for six days amid powe... (Category: Breaking News)
AL Jazeera) Some Asian central banks must rapidly raise interest rates to prevent an “upward spiral” in inflation as the war in Ukraine drives surging fuel and food prices, an International Monetary Fund (IMF) official has said. While inflation in Asia remains “moderate” compared with other regions, several economies will have to act quickly to […]
- IT professionals leaving country (Category: Breaking News)
- Mo Farah says his final 26.2-mile race will ‘be emotional’ (Category: Breaking News)
- SJB asks President to hold early general election (Category: Breaking News)
- The government printed Rs 278 billion between October and December 2022 (Category: Breaking News)
[…]The post Is Global Financial Crash Imminent in 2022? appeared first on Colombo Telegraph.
- Tips for business start-ups in 2022 (Category: Breaking News)
- Madame Ambassador Chung, Your Message Will Live On Forever! (Category: Breaking News)
- Prospects For Global Capitalism: 2023 & After (Category: Breaking News)
- Resolving Systemic Debt Crises Needs A Paradigm Shift (Category: Breaking News)
[…]The post 39 Years After Black July, It Is Time For Tamil Eelam: Preparing For A Unilateral Declaration Of Independence appeared first on Colombo Telegraph.
- Genocide Of Tamils In Sri Lanka – Time For UN, UNHRC & Security Council To Take Action (Category: Breaking News)
- Eelam Tamils Struggle For Self-Determination (Category: Breaking News)
- The TGTE; Past, Present & Future (Category: Breaking News)
- Kuveni’s Curse, Black July & Ethno-Districts (Category: Breaking News)
By Michael Rowand As Sri Lankan protesters stormed the presidential residence in Colombo, the Chinese Embassy released no statements and did not tweet. The Chinese Ministry of Foreign Affairs offered no comment until Monday afternoon, well behind others such as India, the European Union, and the United States. The French Embassy even retweeted a tweet […]
- Chinese role in the Sri Lankan crisis (Category: Breaking News)
- China a mute spectator as Sri Lanka’s political upheaval poses long-term implications for Beijing (Category: Breaking News)
- Unelected Team At The BRI Forum: Speaking From Both Sides Of Mouth (Category: Breaking News)
- Sri Lanka should prevent Chinese vessel from reaching Hambantota port (Category: Breaking News)
[…]The post Why Should The United States Care About Sri Lanka’s Predicament? appeared first on Colombo Telegraph.
- Sri Lanka’s Asian Heritage (Category: Breaking News)
- Madame Ambassador Chung, Your Message Will Live On Forever! (Category: Breaking News)
- The Covid-19 Crisis & Innovation: Why Intellectual Property Rights Matter (Category: Breaking News)
- The Covid-19 Crisis & Innovation: Why Intellectual Property Rights Matter (Category: Breaking News)
China on Wednesday praised India for making “great efforts” to help Colombo to tide over its worst financial crisis even as it refuted Sri Lankan President Gotabaya Rajapaksa’s remarks that Beijing has shifted its strategic focus from South Asia including Pakistan to South East
- China willing to help Sri Lanka deal with debt burden (Category: Breaking News)
- Sri Lanka virtually let down by China in securing a $2.9 billion IMF loan in December (Category: Breaking News)
- As Crisis-Hit Sri Lanka Counts Cost of Chinese Projects, India Moves to Recover Influence (Category: Breaking News)
- The IMF standoff and the China factor (Category: Breaking News)
Russian oil is being supplied to Sri Lanka to produce fuel at its sole refinery as the bankrupt nation faces crippling shortages of everything from gasoline to diesel. The Russian grade of Siberian Light will be processed at Ceylon Petroleum Corp.’s refinery in Sapugaskanda,chairman Sumith Wijesinghe said in a phone interview. The country’s only refinery […]
- Sapugaskanda Oil Refinery operations resumes today after two months (Category: Breaking News)
- Sri Lanka’s Sapugaskanda oil refinery to be closed due to forex shortage (Category: Breaking News)
- Sapugaskanda Oil Refinery resumes operations (Category: Breaking News)
- Minister says have petrol but diesel prioritised for electricity (Category: Breaking News)
By Nick Beake Billions of dollars of Chinese money are boosting some European economies – but some of the deals being struck have a catch. Critics say they are “debt traps”, where China gets to choose what happens if loans aren’t repaid. China insists it is a reliable investment partner – but it is also […]
- China urges EU to reach debt deal without delay (Category: Business)
- Beijing envoy warns Dutch of retaliation for chip curbs: ‘China won’t just swallow this’ (Category: Breaking News)
- China to keep investing in euro zone debt – China c.bank gov. (Category: Business)
- China signs forced labour treaties as Xinjiang scrutiny grows (Category: Breaking News)
[…]The post Causes Of Economic Crisis In Sri Lanka & Lessons For A New Age appeared first on Colombo Telegraph.
- Inflation – Public Enemy Number One (Category: Breaking News)
- Navigating The Economic Reawakening & Sustainable Growth (Category: Breaking News)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
- The Contribution Of The Monetary Policy For Overcoming The Current Economic Crisis Faced In Sri ... (Category: Breaking News)
[…] The post Lack Of Accountability, Ability & Credibility appeared first on Colombo Telegraph.
- Changing Pillows To Cure Headaches: Concepts, Solutions & Actions (Category: Breaking News)
- President Must Resign Now! (Category: Breaking News)
- Debt Trap, Lack Of Accountability & Blunders (Category: Breaking News)
- Changing Pillows To Cure Headaches: Politicians—Constitutional Amendment Mess (Category: Breaking News)
[…] The post A Staged Default & Sovereign Bond Debt Trap? IMF’s Spring Meetings Amid Hybrid Cold War appeared first on Colombo Telegraph.
- Ripples In The Indian Ocean: Yuan Wang 5 & Easter Sunday 2019 (Category: Breaking News)
- Of Elections, Bond Scams & Money Politics: The Anatomy Of Default @75 (Category: Breaking News)
- Gota Back In The USA & A Chilling Killing: Welcome To 2023 A (Virtual) Realty In A Post-Truth Wo... (Category: Breaking News)
- IMF, Sri Lanka’s Resource Curse & Privatization Of The Central Bank (Category: Breaking News)
Reuters: Loose global monetary conditions are stoking credit and asset price booms in some emerging markets that could lead to a new financial crisis, the Bank for International Settlements warned on Sunday. Such a boom-and-bust cycle might have severe global repercussions, not least due
- Bubble Fears (Category: Business)
- Demands on bank assets pose “vicious cycle” danger (Category: Business)
- Rebalancing (Category: Business)
- Islamic markets seen leading global trade volumes (Category: Business)
(Reuters) – Senegal’s Lamine Diack was overwhelmingly re-elected president of the International Association of Athletics Federations (IAAF) on Wednesday, but vice president Sergei Bubka needed a controversial second vote to retain his position. Bubka, the retired world pole vault record holder from Ukraine, had finished an out-of-the running fifth in the original vote by the ...
- Usain Bolt Falls Short In 300m World Record Attempt (Category: Breaking News)
- Mohamed Waheed consolidates power in Maldives (Category: Business)
- McConnell hasn’t decided how he will vote on Trump impeachment (Category: USA, New York)
- McConnell hasn’t decided how he will vote on Trump impeachment (Category: USA, New York)
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