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The International Monetary Fund (IMF) stands ready to support Sri Lanka’s discussions with international bondholders and will provide a formal assessment after the parties reach a tentative agreement-in-principle, an IMF spokesperson said on Thursday. “We hope an agreement consistent with the parameters of the IMF-supported program and official creditors’ Comparability of Treatme...
According to Reuters, the International Monetary Fund (IMF) has expressed readiness to facilitate Sri Lanka's ongoing negotiations with international bondholders.The post IMF ready to support Sri Lanka’s discussions with bondholders appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
A year after India overtook China to become the world’s most populous country, its rapid upward economic trajectory and increasing diplomatic, scientific and military weight make it an emerging superpower of ever-growing importance to the United States and the world. Indian Prime Minister Narendra Modi addressed Newsweek’s written questions and followed up with a 90-minute […]
WB: Sri Lanka needs ‘robust and credible structural reforms’ Poverty in Sri Lanka has increased over the past four years, from 11 percent in 2019 to 26 percent in 2024, and the country needs ‘robust and credible structural reforms,’ says the latest report released by the World Bank. The WB report, titled ‘Sri Lanka Development […]
Reuters reports that Sri Lanka has turned down a restructuring plan proposed by international bondholders to address its $12 billion debt, thereby endangering crucial International Monetary Fund (IMF) aid and further delaying the resolution of its ongoing two-year debt crisis.The post Sri Lanka debt restructuring stumbles as government rejects bondholders’ proposal appeared first on ONLANKA ...
Sri Lanka has failed to strike an agreement on restructuring about US$12 billion of debt with its bondholders, the Government said on Tuesday (Apr 16). “The steering committee did not agree to extension of restricted discussions,” it said in a regulatory filing. Following talks with bondholders on the sidelines of the International Monetary Fund and […]
According to Reuters, the world has just witnessed its warmest March on record, concluding a 10-month streak during which each month set a new temperature record, as stated by the European Union's climate change monitoring service on Tuesday.The post World marks new Global Heat record in March – Reuters appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The consumption of fuel in Sri Lanka has dropped by around 50%, according to the Petroleum Dealers Association.
The United Kingdom has relaxed the travel advise on Sri Lanka by amending the warnings related to emergency medical numbers, road travel and safety and security. Meanwhile, the Sri Lanka President’s Office said that due to Sri Lanka’s current economic advancement, the United Kingdom has revised its Travel Advisory for Sri Lanka effective April 5, […]
The United Kingdom has revised its Travel Advisory for Sri Lanka effective April 5, 2024. The update encompasses various aspects including access to emergency medical services, entry security requirements, road safety, overall security situation, and health facility accessibility. The revised advisory no longer includes previous concerns regarding shortages of food, fuel, and medicine. The Sri [&#...
By N Sathiya Moorthy It is inevitable that in the heat of an electoral battle, neighbours get mentioned, if not hurt. It is election time in India, to be followed by one or two in Sri Lanka – for the presidency and Parliament, though which would come first is known only to Mr God and President […]
Representatives from Sri Lanka’s business community, government, and the finance sector convened in Colombo to discuss the mix of policies, financial mechanisms and technologies, crucial for propelling the country’s industrial decarbonization and economic recovery. This event is the second edition of the Industry Dialogue organized by the European Union (EU)-funded Accelerating Industries’ Climate...
Adding fuel to the Katchatheevu row, India s Shiv Sena (UBT) leader Priyanka Chaturvedi shared an RTI reply of 2015 where it was mentioned that the Katchatheevu island was neither acquired nor ceded and that it lies on the Sri Lankan side of the India-Sri Lanka International Maritime Boundary Line.
The Singapore cargo ship Dali, chartered by Maersk, crashed into the Baltimore, US bridge on Tuesday (March 26), while carrying 764 tons of hazardous materials bound for Sri Lanka, as reported by US media.The post Singapore cargo ship Dali was carrying toxic waste to Sri Lanka: Report appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Fuel prices have been reduced in Sri Lanka with both the Ceylon Petroleum Corporation (Ceypetco) and Lanka IOC announcing price revisions. Ceypetco said that the price of 95 Octane Petrol has been reduced by Rs. 07 and Super Diesel by Rs. 72. Ceypetco also said that the price of Kerosene has been reduced by Rs. […]
Fuel prices in Sri Lanka have been revised with effect from April 1, 2024.The post Sri Lanka revises fuel prices from April 1, 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Six turbines of the wind power plants in Mannar have been removed to keep a 2-km corridor for bird migration. There have been concerning reports of former Viyathmaga members actively acting behind the scenes to stall a critical infrastructure project, which will provide Sri Lanka with cheap renewable energy and cut our dependence on fossil […]
China has said it would continue to support Sri Lanka, as the crisis-hit island nation’s prime minister on Saturday wrapped up a visit to Beijing to try to finalise a debt restructuring deal.The post China reaffirms financial support for Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
In the wake of vessel re-routings, aimed at avoiding the Red Sea, bunker demand across ports in both India and Sri Lanka has witnessed a significant surge, highlighting a growing challenge for the maritime industry. While India contends with supply shortages, Sri Lankan ports are experiencing a notable increase in activity. According to S&P Global […]
The ship which crashed into the Baltimore bridge, was heading to Sri Lanka with dangerous cargo capable of exploding – and had a “faulty” part, Britain’s the Mirror reported. The Mirror report said the crash could have been even more disastrous, as the ship involved carried 56 containers loaded with dangerous cargo capable of exploding – […]
The bodies of two people have been recovered from a red pickup truck, which was under water where the Baltimore bridge collapsed. Eight construction workers were on the bridge when a ship struck it, plunging them into the waters below. Two of the workers were rescued on the day, but the search continues for the […]
At least five Sri Lankans have reportedly been killed so far while fighting in the Ukraine-Russia war, according to Al Jazeera. In the latest incident, Nipuna Silva, a Sri Lankan soldier who quit his army position to fight for Russia in Ukraine due to better pay, is believed to have been killed on the front line.The post Sri Lankan soldier Nipuna Silva among latest victims in Ukraine-Russia confli...
A major bridge in the US collapsed after being hit by a Colombo bound ship, sending several vehicles and people into the river. Baltimore Fire Chief James Wallace said two people had so far been pulled from the water, one in a serious condition and the other not seriously injured. Wallace said during a press […]
Sri Lankan Prime Minister Dinesh Gunawardena will visit China, his country’s biggest bilateral lender, next week, Beijing’s Foreign Ministry said Friday, according to AFP. “At the invitation of Premier Li Qiang of the State Council, Prime Minister of Sri Lanka Dinesh Gunawardena will pay an official visit to China from March 25 to 30,” Foreign […]
After constructive discussions in Colombo, IMF Senior Mission Chief Peter Breuer and Deputy Mission Chief Ms. Katsiaryna Svirydzenka issued the following statement: “The IMF team reached staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement and concluded the 2024 […]
Following productive discussions, the International Monetary Fund (IMF) and Sri Lankan authorities have achieved a staff-level agreement on economic policies, marking a significant step in concluding the second review of the 4-year Extended Fund Facility (EFF)-supported program and the 2024 Article IV Consultation. This was stated by Mr. Peter Breuer, IMF Senior Mission Chief during […]
The United States says switching to solar energy for e-mobility will reduce the burden on Sri Lanka’s national grid. The US Ambassador to Sri Lanka Julie Chung said that switching to solar energy will help ease the economic burden of having to spend dollars on importing fuel for transportation and power generation. She expressed these […]
The International Monetary Fund (IMF) reached a staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement. The EFF arrangement was approved by the IMF Executive Board for a total amount of SDR 2.3 billion (about US$3 billion) on March […]
The International Monetary Fund (IMF) team has reached a staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement and concluded the 2024 Article IV Consultation discussions.The post IMF reaches staff-level agreement with Sri Lanka on second review appeared first on ONLANKA - Sri Lanka...
Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement for the release of $1.1bn from a $3bn bailout package the indebted country needed to avert a sovereign default. “The IMF team has reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan’s stabilisation programme,” the IMF […]