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Sri Lanka has not reached any initial agreement with the IMF on debt relief, and its largest creditors - the Asian Development Bank (ADB) and the World Bank - are urged to come up with a package that would speed up its debt restructuring process, Sri Lanka’s Ambassador to China Palitha Kohona told the Global Times in an exclusive interview.The post Sri Lanka’s Ambassador to China urges ADB a...
India has surpassed China to become the top lender to Sri Lanka, as the former came to the rescue when Sri Lanka started experiencing some acute shortage of foreign currency from the beginning of the year which reached a breaking point in March causing a complete collapse of the country’s economy.The post India eclipses China to become top lender to debt-laden Sri Lanka appeared first on ONLANKA N...
The Narendra Modi government has called for an all-party meeting on Tuesday evening to discuss the crucial issue of the Sri Lanka crisis.The post Indian government calls an all-party meet on Sri Lanka crisis appeared first on ONLANKA News - Sri Lanka News - Latest News Sri Lanka - Breaking News from Sri Lanka.
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 […]
[…]The post The Destiny Of China’s Colony Of Sri Lanka appeared first on Colombo Telegraph.
Rajapaksa finally resigns after over 3 month protest
Yield in 91-day treasury bills jumps over 400 bps to 32.11 percent.
An eye witness piece by Economy Next reporters who share what they saw in July 9 Sri Lankan revolution.
The gas shortage left many families unable to cook meals to feed themselves.
Protesters, however, vowed to agitate as planned and oust Gotabaya Rajapaksa
Protesters have vowed to agitate near Presidential residence until Rajapaksa resigns
Rate hike, fuel shortage, and looming political crisis weighed on investor sentiment
Some analysts said the market was expecting a 300 basis point rate hike on Thursday
Says economy could contract 7-pct in 2022
Thousands of paddy farmers are struggling to recover after Rajapaksa banned agro chemicals.
Sri Lanka is desperate for foreign currency earnings through tourism
Fuel shortage has led the country almost to a stand still.
Thousands of Sri Lankan farmers protested against the government demanding chemical fertilizer
[…]The post The Financial Crisis – Mismanagement, Fear Or Collusion? appeared first on Colombo Telegraph.
Sri Lanka’s total debt burden increased to Rs 21.6 trillion by March 2022, Prime Minister Ranil Wickremesinghe told Parliament today. He said that Sri Lanka needs to pay $3.4 billion between June and December this year, $5.8 billion in 2023, $4.9 billion in 2024, $6.2 billion in 2025, $4.0 billion in 2026 and $4.3 billion […]
Economic activities have significantly slowed down due to fuel shortage.
[…]The post Child’s Guide To True Cost Of Activities: Concept Of Opportunity Cost appeared first on Colombo Telegraph.
Empty streets reduce emissions, lack of chemical fertilizer promotes organic food
Sri Lanka is facing risk of increased power cut
Dollar shortage still weighs on Sri Lanka's essential imports.
Sri Lanka has yet to solve its dollar shortage crisis.
[…]The post Mission Impossible appeared first on Colombo Telegraph.
T-bill yields jumped across the tenure at the weekly auction on Wednesday.
The main stock index has fallen 4.4$% in the last two sessions.
Interbank transactions announced by the CBSL rose to 359.90, edging up 40 cents from the previous day’s 360.30.