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Fitch Ratings upgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘RD’ (Restricted Default), in its latest report.Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. The Long-Term Foreign-Currency IDR has been affirmed at ‘RD’ and the Country Ceiling at ‘B-‘. ...
[…]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.
President Ranil Wickremesinghe delivering the opening speech at the ‘Berlin Global’ Dialogue in Berlin, Germany, today (28), expressed the need for a comprehensive dialogue between Western nations and China, the United States of America and China and the European Union and China, as a critical component of a robust international plan capable of addressing the […]
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 is concerned about a shortfall in revenue collection by Sri Lanka’s government this year, though that is unlikely to derail a $2.9 billion loan programme for the crisis-hit country, two Sri Lankan sources told Reuters.The post Sri Lanka’s revenue shortfall concerns IMF team – sources appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stor...
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 […]
[…]The post Target 2048 – Complex Economy System appeared first on Colombo Telegraph.
[…]The post Ambiguity Of National Evaluation Policy In Sri Lanka? appeared first on Colombo Telegraph.
[…]The post SL Debt Justice Collective Writes Open Letter To IMF On DDO appeared first on Colombo Telegraph.
Recognises Bank for highest number of transactions in country’s trade and supply chain finance domain between 1 July 2022 and 30 June 2023 The Commercial Bank of Ceylon has once again been declared the Asian Development Bank’s (ADB’s) ‘Leading Partner Bank’ in Sri Lanka for trade and finance transactions, in a significant reaffirmation of the […]
[…]The post IMF & Global Debt Crises appeared first on Colombo Telegraph.
The Chinese spy ship ‘Shi Yan 6’ has entered the Malacca strait, bound for Colombo, amid confusion over whether Sri Lanka has granted access for the spy vessel to dock at Colombo. According to reports last month, the Sri Lankan Defence Ministry has granted Shi Yan 6 access to dock at Colombo port. However, the Sri Lankan […]
[…]The post The Apologetic Custodian Of The EPF Is Also A Victim appeared first on Colombo Telegraph.
[…]The post Politics Of Easter Investigation In A Wriggling Economy appeared first on Colombo Telegraph.
By Sanjeewa Jayaweera The recent decision by the Asian Cricket Council to allocate a reserve day for the India-Pakistan match in Colombo was no doubt taken to placate the commercial interests of those who would have paid for advertising slots during the live telecast of the game. Given the massive interest that matches between these […]
Global rating agency, Fitch, in its latest report downgraded Sri Lanka’s Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’. In a press release Fitch said the ratings on its local-currency bonds tendered in the domestic debt exchange have been downgraded to ‘D’ from ‘C’ while its other four local-currency bonds […]
Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’.The post Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘RD’ appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The first review of the International Monetary Fund’s Extended Fund Facility (EFF) for Sri Lanka is slated to commence today (September 14).The post First review of IMF’s Extended Fund Facility for Sri Lanka to commence today appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has accepted offers to exchange about $10 billion worth of defaulted local debt for new bonds, the Finance Ministry said on Tuesday, taking it a step towards meeting debt restructuring requirements ahead of an International Monetary Fund (IMF) review.The post Sri Lanka announces $10 billion local bond swap deal ahead of IMF visit appeared first on ONLANKA - Sri Lanka Latest Breaking News...
Sri Lanka has rejected the evidence gathering mechanism of the Office of the High Commissioner for Human Rights (OHCHR) saying it goes beyond the mandate that Member States conferred on the Council by UNGA Resolution 60/251. The Permanent Representative of Sri Lanka to the United Nations in Geneva, Himalee Arunatilaka told the UN Human Rights […]
[…]The post System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
The G20 joint declaration in Delhi is being described as a significant diplomatic win for India. The agreement of a joint statement looked almost impossible a few days ago, given how sharply divided the group was over Russia’s invasion of Ukraine. In the end, we had a declaration that garnered unanimous support from all G20 […]
By HIMAL KOTELAWALA ECONOMYNEXT – If Sri Lanka allows elections to distract from the path of recovery, stabilization and growth, the country will be hit by a fresh crisis far worse than any before, former central bank governor Indrajit Coomaraswamy said. Speaking at a forum organized by Cal, a Colombo-based investment banking group, Coomaraswamy said […]
[…]The post Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-Sonic’? appeared first on Colombo Telegraph.
World leaders have been gathering in India ahead of a G20 summit between nations that are divided on many issues, the biggest being the war in Ukraine following Russia’s invasion. On Friday evening US President Joe Biden met his host, Indian Prime Minister Narendra Modi, with the leaders pledging cooperation in a raft of areas. […]
Singaporeans have chosen Tharman Shanmugaratnam as their next president – but many would have let out a small sigh of disappointment as they did so. On Friday, the former top minister won a record 70.4% of the votes, comfortably beating two other candidates in the country’s first contested presidential election in more than a decade. […]
Singaporeans have headed to the polls to vote in their first contested presidential election in over a decade. The president has a mainly ceremonial role in the city-state with few powers and little say in public affairs. But the result on Friday could be a marker of public sentiment on the long-term ruling People’s Action […]
Sri Lanka's key inflation rate eased to 4% in August from 6.3% a month ago, the statistics department said on Thursday, marking continued stabilisation for the crisis-ridden economy.The post Sri Lanka’s key inflation rate eases to 4% in August appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
MANILA, PHILIPPINES (29 May 2023) —The Asian Development Bank (ADB) approved a $350 million special policy-based loan to provide budget support to Sri Lanka for economic stabilization. The program is part of a broader package of financial assistance anchored by the International Monetary Fund’s Extended Fund Facility for the country, which aims to stabilize the […]