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Sri Lanka President Ranil Wickremesinghe addressed the United National Party (UNP) May Day celebrations held at the Sugathadasa Indoor Stadium in Colombo yesterday (May 01) through video technology.The post Sri Lanka President says Let 2048 be the year of development for Sri Lanka appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
[…]The post Is The Central Bank On Its Way To Technical Insolvency? appeared first on Colombo Telegraph.
By Shamindra Ferdinando SLPP MP Prof. G. L. Peiris has found fault with the International Monetary Fund (IMF) for not paying sufficient attention to waste, corruption and economic mismanagement under the Rajapaksa-Wickremesinghe administration. The former External Affairs Minister emphasised the responsibility on the part of the lending agency to address these issues, particularly against the [...
Sri Lanka's National Consumer Price Index (NCPI) (LKNCPI=ECI) eased to 49.2% year-on-year in March, after a 53.6% rise in February, the statistics department said on Friday.The post Sri Lanka consumer inflation dips to 49.2% year-on-year in March appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
A shortage of a cash bundle worth Rs 5 million (Rs 5000 denomination) was discovered in a Vault of the Central Bank during the currency operations on 11.04.2023. An internal probe into the matter was commenced immediately, while a complaint was also lodged at the Fort Police Station. The police investigation is in progress. The […]
A shortage of a cash bundle worth Rs 5 million was discovered in a vault of the Central Bank of Sri Lanka (CBSL) on 11 April, during the currency operations.
Sri Lanka’s sovereign lenders have yet to inform the government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the central bank governor told Reuters in an interview on Tuesday.The post Sri Lanka central bank chief says sovereign lenders yet to outline debt talks plans appeared first on Sr...
Sri Lanka’s sovereign lenders have yet to inform the Government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the Central Bank Governor told Reuters in an interview on Tuesday. The island nation aims to formally engage […]
[…]The post Janatha Aragalaya: The People’s Struggle In Sri Lanka appeared first on Colombo Telegraph.
Sri Lankan President Ranil Wickremesinghe announced that the agreement with the International Monetary Fund (IMF) would be presented to Parliament for a vote on whether to support it and that following this vote, the key points of the agreement would be enacted into law.The post Once the Parliament approves IMF agreement, the main points will be passed into law – Sri Lanka President appeared...
[…]The post The Contribution Of The Monetary Policy For Overcoming The Current Economic Crisis Faced In Sri Lanka appeared first on Colombo Telegraph.
[…]The post Role Of Professionals In Achieving Our Economic Recovery appeared first on Colombo Telegraph.
Young entrepreneur Chen Yingbing thought she had settled on a winning business model caring for China’s fast-ageing population. But not long after opening her high-end elderly care centre in the northern city of Tianjin, she encountered a major problem: the coronavirus pandemic. Under China’s hardline zero-Covid rules, elderly care homes were sealed off to prevent […]
In a major breakthrough, Sri Lanka has received a financial assurance letter from the Exim Bank of China and the letter of agreement has been sent to the International Monetary Fund (IMF). President Ranil Wickremesinghe told Parliament that he received the financial assurance letter from the Exim Bank of China last night and he and […]
[…]The post President Ranil Wickremesinghe’s Special Statement – Full Text appeared first on Colombo Telegraph.
[…]The post Supreme Court Shows Democratic Route To Government appeared first on Colombo Telegraph.
By Jehan Perera The economy is beginning to give indications of macro stability which President Ranil Wickremesinghe has made his primary objective. The most visible of these is the appreciation of the rupee against the dollar and other international currencies which signals a shift from the previous trend of depreciation. Over the past year the […]
[…]The post New Central Banking Bill: Positive But Gaps Need To Be Filled appeared first on Colombo Telegraph.
The International Finance Corporation (IFC), the World Bank’s investment arm, said it will provide Sri Lanka with a $400 million cross-currency swap facility to help fund essential imports.The post World Bank’s IFC to provide Sri Lanka with $400 million financing appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
A decision has not been taken to suspend the fuel pass QR code system from April, Power and Energy Minister Kanchana Wijesekera said today. There were reports that the fuel pass QR code system will be suspended from 10th April. However, Wijesekera said the system will continue. He said that data will be analysed and […]
Aljazeera reports that there is a severe shortage of greenbacks in Bangladesh due to its dwindling foreign reserves and a sharp drop in the value of its taka currency against the dollar. In the past six months, Bangladesh’s foreign reserves have dropped below $32bn from $39bn while the value of the taka has fallen by […]
Sri Lanka is tangled in the worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange that forced the country to annouce a suspension of foreign debt repayments in April 2022.The post Sri Lanka to make $2.6 billion in loan repayments in first half of year appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The International Monetary Fund is considering approving Sri Lanka’s bailout even without the formal assurance of debt-restructuring support from China, the nation’s biggest bilateral creditor, according to people familiar with the discussions.The post IMF said to discuss Sri Lanka loan approval even as China stalls appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA New...
Islamabad [Pakistan], February 6 (ANI): Former Pakistan Finance Minister Miftah Ismail has said that things on the economic front will “remain tight” as the economy faces a severe liquidity crunch, Geo News reported. Pakistan is seeking an installment of USD 1.1 billion from the International Monetary Fund to avoid default. In a tweet, Ismail stated, […]
The International Monetary Fund is considering approving Sri Lanka’s bailout even without the formal assurance of debt-restructuring support from China, the nation’s biggest bilateral creditor, according to people familiar with the discussions. Under a rarely used policy on lending into official arrears, the IMF may consider approving Sri Lanka’s loan because China’s assurance is the only prerequi...
The economic and financial condition of Sri Lanka is very precarious at the moment. It has been facing the worst economic crisis since its independence in 1948. The Sri Lankan economy is going through a high rate of inflation, a shortage of essential commodities including fuel and medicines, and a depleted foreign exchange reserve insufficient […]
Sri Lanka’s external reserves surpassed two billion dollars in January, reflecting gradual improvement in the foreign exchange conditions in the domestic market which was made possible due to a slew of tightening measures and also due to the acceleration in the foreign currency inflows, recently.The post January foreign reserves end up above US$ 2 Billion, first time in about a year appeared first...
In an unprecedented turn of events, Pakistan’s close allies Saudi Arabia and the UAE have asked Islamabad to forget the Kashmir issue as the country is embroiled in other complex issues that need to be resolved. “Don’t cry for Kashmir” were the innuendos used by the Middle Eastern leaders when Pakistan Prime Minister Shabazz Sharif […]
Several trade unions in Sri Lanka have decided to go on strike today (February 08), in protest of the government’s new tax policy and its failure to address the shortage of medicines in the country.The post Many trade unions in Sri Lanka on strike today against the tax revision appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s international bondholders group was prepared to engage with the island nation’s authorities in debt restructuring talks consistent with the parameters of the IMF Programme, their legal adviser, White & Case LLP, said.The post Sri Lanka bondholders ready for debt restructuring talks with authorities appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News...