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The International Monetary Fund (IMF) has approved loans of $4.7 billion to Bangladesh for disbursal starting immediately, making it the first to secure such funds out of three South Asian countries that applied last year amid economic trouble.The post Bangladesh secures $4.7 billion from IMF as other South Asian countries see delays appeared first on Sri Lanka News - Latest Breaking News in Sri L...
Sri Lanka's Central Bank Governor Dr. Nandalal Weerasinghe said regardless of the future elections, he wants to see a continuation of the economic reform path the country has embarked on, as it is the only way to come out of the current crisis.The post Sri Lanka’s Central Bank insists on staying on reform path regardless of election outcome appeared first on Sri Lanka News - Latest Breaking ...
Holders of Sri Lanka’s foreign bonds want more clarity on the nation’s local-currency debt before they sit down for formal restructuring talks, according to people familiar with the situation.The post Sri Lanka creditors seek clarity on local bonds for debt talks – report appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lankan Minister of Foreign Affairs Ali Sabry has held talks with ministers and senior officials in Saudi Arabia, as the crisis-hit island nation seeks to boost cooperation with the Kingdom and other Gulf countries.The post Sri Lanka seeks to boost ties with Saudi Arabia and Gulf nations appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
By Easwaran Rutnam China’s offer to Sri Lanka of a two-year moratorium on its debt is not sufficient to clear the path for the International Monetary Fund (IMF) to approve a funding program, diplomatic sources told Daily Mirror. Sources said that the IMF requires more assurances from China in order to secure IMF board approval […]
[…]The post Continuing With Tight Monetary Policy: Is The Central Bank Making A Mistake? appeared first on Colombo Telegraph.
[…]The post Big Fishes In Little Ponds: The Government’s & Civil Society’s Rightward Tilt appeared first on Colombo Telegraph.
China’s Export-Import Bank of China (EXIM) has provided Sri Lanka with a debt extension, China’s Foreign Ministry said, confirming a Reuters report earlier this week. EXIM offered Sri Lanka a two-year moratorium on its debt and said it would support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according […]
China s Export-Import Bank of China (EXIM) has provided Sri Lanka with a debt extension, China s foreign ministry said on Thursday, confirming a Reuters report earlier this week.
Debt-ridden Sri Lanka on Wednesday (January 25) thanked India for issuing the necessary guarantees sought by the IMF that would help Colombo to unlock the USD 2.9 billion bailout package.The post Sri Lanka thanks India for giving assurances to IMF for USD 2.9 Billion bailout package appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
While implementing complex programmes such as the International Monetary Fund (IMF), difficult decisions related to it should be implemented regardless of who is in power, Central Bank Governor Dr. Nandalal Weerasinghe said on Wednesday (January 25).The post IMF process should continue whoever is in power – Central Bank Governor appeared first on Sri Lanka News - Latest Breaking News in Sri ...
By Hiran H. Senewiratne The Central Bank did not contract the economy by hiking interest rates, but prevented a further contraction and possible hyper- inflation by stabilizing the external sector with high rates, Central Bank Governor Dr. Nandalal Weerasinghe said. “The Central Bank by tightening monetary policy, minimized the damage that was going to happen […]
By Sanath Nanayakkare Governor of the Central Bank Dr. Nandalal Weerasinghe said yesterday that the CBSL was not in any way connected to the matter of holding local government elections. Dr. Weerasinghe said so responding to a question from journalists as to how the Central Bank viewed the possibility of holding the local government elections […]
[…]The post Will India Be The Game Changer For RW? appeared first on Colombo Telegraph.
Any government which was detached from people's true aspirations cannot bring in economic recovery through measures such as imposing taxes, National People Power (NPP) leader Anura Kumara Dissanayake said yesterday.The post Government detached from people’s aspirations cannot bring in economic recovery – Anura appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLAN...
Sri Lanka’s gross official reserves stood at an estimated US dollars 1.9 billion by the end of 2022, the Central Bank of Sri Lanka said today. The bank said that the gradual improvement in workers’ remittances, together with the revitalisation of tourism, helped improve the external current account balance in recent months while easing excessive […]
By Saman Indrajith Interest rates could be relaxed with a cash infusion via the IMF, the Central Bank officials, including Governor Dr. Nandalal Weerasinghe, told the Committee on Public Finance (CoPF) recently. Dr. Weerasinghe said high interest rates had been adopted to limit growth to prevent the need for greater foreign exchange given the dwindling […]
As a result of sheer negligence, Sri Lanka has ended up being categorized as a perpetrator of war crimes, and those who had fought for the country are mercilessly targeted. There cannot be a better example than Air Marshal Sumangala Dias who suffered due to Sri Lanka’s failure. Canada refused to accept Dias as Sri […]
The Central Bank informed a Parliament committee that it is confident the first tranche of the financial assistance from the International Monetary Fund (IMF) will be received during the 1st quarter of 2023. The Committee on Public Finance (CoPF) chaired by (Dr.) Harsha De Silva stressed that the committee will stand by the reforms proposed […]
The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters. India wrote to the IMF earlier this month, saying it would commit to supporting […]
Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, the country’s central bank chief P. Nandalal Weerasinghe said. “There has been good progress this month with India already pledging financing assurances. We expect assurances from China and Japan soon,” Weerasinghe said […]
The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters.The post China’s EXIM bank offers Sri Lanka debt extension – report appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLA...
Former Finance Minister, United National Party’s (UNP) Colombo district Leader Ravi Karunanayake alleged that the country went bankrupt not because of the governments, but because of the actions of the Central Bank (CB) and its officials.The post Ravi Karunanayake points finger at Central Bank for country’s woes appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA N...
[…]The post Raj Somadeva’s Yakhshi: Excellent Exposition Of History To Laymen appeared first on Colombo Telegraph.
China is expected to hand over its letter of support for financing and debt restructuring of Sri Lanka, to the International Monetary Fund (IMF) on Sunday, the Hindustan Times reported.The post Sri Lanka’s debt restructuring: China expected to inform its support to IMF today appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
By A spectator It was 10.45 am on January 31, 1996. That was the time and the date which will continue to be etched in the memories of many. The bombing of the Central Bank of Sri Lanka was one of the of the most tragic and deadly acts perpetrated by the LTTE. For 29 […]
Sri Lanka expects to get China's backing for its debt restructuring plan within days to help unlock a $2.9 billion loan from the International Monetary Fund, a government official said on Friday, as India pledged further support to its crisis-stricken southern neighbour.The post Sri Lanka expects financing assurances from China for IMF deal within days appeared first on Sri Lanka News - Latest Bre...
India’s External Affairs Minister S. Jaishankar on Thursday met Sri Lanka's top leadership and conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery.The post Jaishankar conveys India’s commitment to increase investment flows to Sri Lanka to hasten economic recovery appeared first on Sri Lanka News - Latest Breaking News in Sri La...
Dr. Jaishankar is in Sri Lanka to help under the “neighborhood first” strategy of India By R. R. M Lilani Dr. Jaishankar, India’s Foreign Minister, who is scheduled to arrive in Sri Lanka on January 19, 2023, has made another ‘neighbourhood first’ agreement with Sri Lanka by backing the country’s delayed debt restructuring programme with […]
[…]The post JR/Maithri/Ranil’s Contributions To Sri Lanka’s Bankruptcy appeared first on Colombo Telegraph.