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A Sri Lankan man accused of stealing almost $250,000 meant for 10 high-profile international cricketers to take part in local competitions in Melbourne s south-east allegedly siphoned the money from his employer s bank account over more than a year, Australian media reported.
The stabilisation and recovery of the country s economy is currently the Central Bank of Sri Lanka s (CBSL) key objective, CBSL Governor Dr. Nandalal Weerasinghe said.
Sri Lanka’s worries are increasing as China has not agreed to debt restructuring modalities as per the International Monetary Fund’s requirements, which is essential for the multilateral funding organisation before it green signals a $2.9 billion bailout package to the crisis-hit island country in mid-December. In October, Sri Lankan President Ranil Wickremesinghe told his country’s […]
The former Central Bank Governor, Dr. Indrajit Coomaraswamy says that the International Monetary Fund (IMF) does mete out remedies which are not pleasant and that the people need to essentially compress their investment and consumption.
BY Ajeyo Basu New Delhi: Since its creation in 1947, Pakistan has based the very purpose of its existance on establishing Muslim rule over ‘Hindu’ India. However, the setbacks in the wars of 1965 and 1971 made the Pakistan Army – the actual rulers of the impoverished country – realise the futility of direct military confrontation […]
Sri Lanka owed Chinese lenders $7.4 billion - nearly a fifth of its public external debt - by the end of last year, calculations by the China Africa Research Initiative (CARI) published on Wednesday showed, an estimate higher than many others.The post Sri Lanka’s debt to China close to 20% of public external debt – study appeared first on Sri Lanka News - Latest Breaking News in Sri La...
By Shamindra Ferdinando Former Foreign Minister Prof. G. L. Peiris has questioned the rationale behind President Ranil Wickremesinghe’s warning that the military will be deployed to curb protest vis-a-vis a Foreign Ministry undertaking to boost foreign trade and investment. Addressing the Parliament, during the Budget committee stage debate, on 28 Nov., Prof. Peiris said the […]
By MAHINDA PANAPITIYA Irrigation Engineer who has worked for Mahaweli Project since 80s As originally planned, the present phase of the Mahaweli Project should be focused on social and economic development of the families settled in Mahaweli areas. It could be done by promoting food production in a sustainable way, to gain the return on […]
Sri Lankans can now hold $10,000 worth of the Indian rupee (INR) in a physical form, though the INR would not be legal tender in Sri Lanka, after India approved a Sri Lankan request to designate the INR as the foreign currency.The post Indian Government allows Sri Lankans to hold $10,000 worth of rupee in cash appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Elections Are The Democratic Way To Maintain Political Stability appeared first on Colombo Telegraph.
By Jehan Perera President Ranil Wickremesinghe’s warning that he is prepared to declare a state of national emergency and use the military to suppress any public protests for change of government would reflect the pressures he is under. The manner in which he has used the security forces to deal with the protest movement has […]
Sri Lanka’s inflation is expected to significantly cool in the coming months after peaking near 70% this year, and the nation may gradually relax a currency band as inflows improve, central bank governor Nandalal Weerasinghe said.The post Sri Lanka’s inflation expected to significantly cool in the coming months – CBSL Governor appeared first on Sri Lanka News - Latest Breaking News in ...
Several countries have sought assistance from Bangladesh after the South Asian nation helped Sri Lanka with a currency swap, Bangladesh Prime Minister Sheikh Hasina said. “We have assisted Sri Lanka from our (forex) reserves. After that, I received requests from many countries,” she said. The Prime Minister said this while delivering her introductory speech at […]
The Central Bank of Sri Lanka (CBSL) has announced the official exchange rates for 28th November with the US dollar buying rate recorded at Rs. 360.29.The post Daily Exchange Rates from Central Bank of Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Bangladesh Prime Minister Sheikh Hasina on Sunday shared that after helping Sri Lanka with currency swap, many countries communicated with her to get the same kind of assistance from Bangladesh.The post After Bangladesh assisted Sri Lanka with $200 million, many countries made similar requests – PM Sheikh Hasina appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA N...
[…]The post Who Has Printed The Biggest Quantity Of Money? Lakshman, Cabraal Or Nandalal? appeared first on Colombo Telegraph.
[…]The post 29 November 1947: United Nations Created Israel In Palestine appeared first on Colombo Telegraph.
The dramatic fuel shortages that accompanied mass protests in Sri Lanka earlier this year may have eased, but for millions of Sri Lankans the economic crisis is worse than ever, said a report by the Amnesty International. It said: This month, the United Nations renewed a humanitarian appeal, stating that 28 percent of the population faces […]
The Parliament committee on High Posts has approved the appointment of new Foreign Secretary Aruni Wijewardane. Wijewardane has already assumed duties at the Foreign Ministry as the new Foreign Secretary. Secretary-General of Parliament Dhammika Dasanayake said the appointment of four Secretaries to Ministries, a Chairman to a State institution and an Ambassador have been approved […]
Speech made November 22 I have consistently recorded my opposition to Minister of Finance being the President. From 2010 onwards in this House, whenever the President in his capacity as Minister of Finance has presented a budget I have recorded that protest and I wish to record that today as well. When a person who […]
[…]The post Lanka’s Vanishing Fish: Corporate Capture & Import Dependency Deepen The Debt Trap appeared first on Colombo Telegraph.
Although the prevailing high interest rate regime may discourage investments, Central Bank (CB) Governor Dr. Nandalal Weerasinghe asserted that curtailing inflation is more critical for the survival of businesses over low interest rates and to avert a Zimbabwe-like scenario.The post Curtailing inflation critical to avert Zimbabwe-like scenario – CBSL Governor appeared first on Sri Lanka News...
Foreign Minister Ali Sabry, PC, has dismissed assertions that China caused the current economic crisis here.The Minister made Sri Lanka’s position clear in an interview with WION’s diplomatic correspondent Sidhant Sibal. Asked whether Minister Sabry believed that the current economic crisis is due to China, its policy of debt crisis, the Minister has said: No, […]
[…]The post What Is To Be Done? – Anura Kumara Dissanayake appeared first on Colombo Telegraph.
International human rights organisation, Human Rights Watch (HRW) urged Sri Lanka’s major foreign creditors, including China, Japan, and India to help restructure debts and urgently mitigate the adverse human rights impacts of the country’s worst-ever economic crisis.The post Human Rights Watch urges major creditors to help restructure Sri Lanka’s debts appeared first on Sri Lanka News - Lat...
By Hiran H. Senewiratne Central Bank Governor Dr. Nandalal Weerasinghe says Sri Lanka is expecting to go to the IMF Board in January 2023 if it misses the December window and is also confident of getting assurance from bilateral creditors soon. “Most probably meeting the IMF target is too optimistic and satisfactory so far but if […]
Money printing drastically reduced in the first ten months of 2022 in comparison to the entirety of 2021, Dr. Nandalal Weerasinghe, the Governor of the Central Bank of Sri Lanka said today (November 24).The post Sri Lanka’s Central Bank Chief says Money printing has drastically reduced in 2022 appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The overseas travel ban imposed on former Central Bank Governor Ajith Nivard Cabraal, has been extended until 15th December. The Colombo Magistrate’s Court had last month granted bail to Cabraal but extended an overseas travel ban on him until today (24th November). When the case was heard again today the court ordered that the travel […]
The expansion of Central Bank s base money or money printing drastically reduced in the first ten months of 2021 in comparison to the entirety of 2021, CBSL Governor Dr. Nandalal Weerasinghe says.
The foreign travel ban imposed on former Central Bank governor Ajith Nivard Cabraal has been extended until December 15.The post Travel ban imposed on Ajith Nivard Cabraal extended appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.