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[…]The post Are We Bold Enough For A Radical Change? appeared first on Colombo Telegraph.
Over the last few decades China has not only become Africa’s largest trading partner, but is its biggest bilateral lender. In the last 15 years, trade between China and African nations reached $282.1 billion (in 2023). Out of these numbers, most of the exports to China were supplied by South Africa, Angola and the Democratic […]
The International Monetary Fund (IMF) wants Sri Lanka to work on governance issues and to also stick to the IMF supported program. Krishna Srinivasan, IMF Director of the Asia and Pacific Department noted that Sri Lankans faced a very difficult challenge when they embarked on the IMF program. “And so far, what we’ve seen is […]
‘Public Debt Management Bill threat to democratic governance’ By Shamindra Ferdinando Opposition MP Charitha Herath yesterday (30) alleged that the controversial Public Debt Management Bill that had been tabled in Parliament last week was aimed at bringing public sector finance entirely under the Finance Minister. Claiming that UNP leader and President Ranil Wickremesinghe, in his […]
Cash-strapped Pakistan is poised to receive a $1.1bn loan tranche from the International Monetary Fund (IMF) after a key meeting of the international lender’s executive board on Monday, even as economists have warned that the country needs deep reforms to reduce its dependence on overseas financial assistance. Late on Monday night, Pakistan’s Ministry of Finance […]
[…]The post Lessons From America appeared first on Colombo Telegraph.
May Day rallies: by Chaminda Silva Colombo Municipal Council Commissioner Bhadrani Jayawardena said political parties, including the UNP, SLPP, SJB and JVP/NPP and many civil organisations, have reserved public grounds and places in the city for the upcoming May Day celebrations. She said that the Municipal authorities expect around 500,000 persons to arrive in Colombo […]
The Annual Economic Review and Financial Statements and Operations of the Central Bank for the Year 2023 points out that backtracking from the implemented and planned critical reforms will tip the economy to a state of instability. Thus, continuing with the broader political and social consensus on economic reforms will be critical to avoid recurring […]
[…]The post Foreign Debt Restructuring: Too Late & Too Short To Get Out Of The Debt Trap appeared first on Colombo Telegraph.
Efforts to attract international players to invest in Sri Lanka’s Oil and Gas exploration in the Mannar Basin have once again been gridlocked by legal challenges in the Court of Appeal. A statement noted that Sri Lanka’s efforts to attract and leverage international investment into exploration and commercialisation two blocks adding to over 5,000 square […]
Sri Lanka’s efforts to attract and leverage international investment into exploration and commercialisation of two blocks adding to over 5,000 square kilometers with potential oil and gas resources in the Mannar Basin have once again been gridlocked by legal challenges in the Court of Appeal. According to the latest developments in the CA (Writ) Application […]
[…]The post American Chaos, Modi’s Heatwave & Ranil As Common Government Candidate appeared first on Colombo Telegraph.
Reuters says that Sri Lanka has decided to transfer management of its $209 million Chinese-funded airport to two companies from India and Russia, according to a statement from the cabinet on Friday.The post Sri Lanka turns to Indian and Russian companies to manage Chinese-funded Airport appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The stock market serves as a nexus where millions of buyers and sellers converge to engage in transactions. At its core, each transaction represents an agreement between a buyer and a seller, with the central element being the price. This price is not static; it fluctuates continuously, reflecting the equilibrium between supply and demand. The […]
[…]The post An Oxygen Economy appeared first on Colombo Telegraph.
[…]The post Are We Going To The Fringes Or Coming To The Middle? appeared first on Colombo Telegraph.
ECONOMYNEXT –The International Finance Corporation (IFC), the World Bank’s investment arm emphasized the importance of the private sector engagement in the recovery of the crisis-hit Sri Lanka’s economic growth. Riccardo Puliti, the IFC’s Vice President for Asia and the Pacific said this when he met State Finance Minister Shehan Semasinghe and the island nation’s Central […]
Sri Lankan President Ranil Wickremesinghe expressed his firm conviction in his ability to shape Sri Lanka into the country that the nation’s youth envision.The post President says he will build a Sri Lanka that the youth aspire to appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Friday 19th April, 2024 One wonders whether the Parliament of Sri Lanka, which is full of self-righteous members who moralise to the point of queasiness, has taken upon itself the task of serving as a moral compass of sorts for the nation. Its sessions are characterised by endless tub-thumping. During the past several weeks, Parliament […]
The International Monetary Fund (IMF) stands ready to support Sri Lanka’s discussions with international bondholders and will provide a formal assessment after the parties reach a tentative agreement-in-principle, an IMF spokesperson said on Thursday. “We hope an agreement consistent with the parameters of the IMF-supported program and official creditors’ Comparability of Treatme...
According to Reuters, the International Monetary Fund (IMF) has expressed readiness to facilitate Sri Lanka's ongoing negotiations with international bondholders.The post IMF ready to support Sri Lanka’s discussions with bondholders appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The Asian Development Bank (ADB) has highlighted the critical role of addressing gender inequality in achieving Sri Lanka's ambitious growth targets.The post ADB urges Sri Lanka to address gender inequality to boost economic growth appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
A year after India overtook China to become the world’s most populous country, its rapid upward economic trajectory and increasing diplomatic, scientific and military weight make it an emerging superpower of ever-growing importance to the United States and the world. Indian Prime Minister Narendra Modi addressed Newsweek’s written questions and followed up with a 90-minute […]
WB: Sri Lanka needs ‘robust and credible structural reforms’ Poverty in Sri Lanka has increased over the past four years, from 11 percent in 2019 to 26 percent in 2024, and the country needs ‘robust and credible structural reforms,’ says the latest report released by the World Bank. The WB report, titled ‘Sri Lanka Development […]
Sri Lanka informed the G-24 Finance Ministers and Central Bank Governors that the country’s economy has now stabilised. State Minister of Finance Shehan Semasinghe told the delegates during the IMF/WB Spring meetings in Washington that the growth momentum in Sri Lanka has commenced. “Highlighted the deep and wide ranging economic reform programme adopted to address […]
Reuters reports that Sri Lanka has turned down a restructuring plan proposed by international bondholders to address its $12 billion debt, thereby endangering crucial International Monetary Fund (IMF) aid and further delaying the resolution of its ongoing two-year debt crisis.The post Sri Lanka debt restructuring stumbles as government rejects bondholders’ proposal appeared first on ONLANKA ...
On 19 April, Indians will begin choosing a new parliament for the next five years, as Prime Minister Narendra Modi seeks a third consecutive term. Opinion polls put his Bharatiya Janata Party (BJP) and its allies ahead. They are up against the Indian National Developmental Inclusive Alliance (India), which groups more than two dozen opposition […]
Sri Lanka has failed to strike an agreement on restructuring about US$12 billion of debt with its bondholders, the Government said on Tuesday (Apr 16). “The steering committee did not agree to extension of restricted discussions,” it said in a regulatory filing. Following talks with bondholders on the sidelines of the International Monetary Fund and […]
[…]The post Nettles Needing To Be Grasped By Future Leaders Of Sri Lanka appeared first on Colombo Telegraph.