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The Parliament is scheduled to meet from 3rd to 6th October. The parliamentary business related to this week has been decided at the Committee on Parliamentary Business chaired by Speaker Mahinda Yapa Abeywardena on 22nd of September. Accordingly, time from 09.30 a.m. to 10.30 a.m. on each day has been allotted for Questions for Oral […]
By Saman Indrajith Minister of Justice, Prisons Affairs and Constitutional Reforms, Wijeyadasa Rajapakshe will present the Anti-Terrorism Bill, while Minister of Public Security, Tiran Alles, will present the Online Safety Bill to Parliament on 03 October. Below are the bills to be debated during the Parliament week. On Tuesday, 03 October 2023, from 10.30 am […]
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.
[…]The post Responsible Investment Of Borrowed Money: Could This Be A Way Forward? appeared first on Colombo Telegraph.
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 post Some Sri Lanka creditors seeking debt restructuring deal without China appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9bn bailout package, due to a potential shortfall in government revenue generation, Al Jazeera has reported, quoting the lender. Speaking after a two-week visit to the country, IMF delegation head Peter Breuer on Wednesday said a […]
Some of Sri Lanka’s official creditors are advocating for a debt restructuring agreement that excludes China, Bloomberg reported on Thursday (28.) This move, if successful, could have implications for how wealthier nations handle financial stress in developing economies. The proposal involves major creditors, including the US, Japan, and India, signing a memorandum of understanding with [...
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 […]
[…]The post Contempt Of Court? Or Contempt For The Law? appeared first on Colombo Telegraph.
Sri Lanka’s Minister of State for Tourism Diana Gamage announced plans to launch promotional campaigns aimed at attracting 1.5 million foreign tourists to Sri Lanka by the year’s end.The post Sri Lanka to launch campaigns to attract 1.5 million tourists – proposal to create non-sleeping cities appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund (IMF) says despite early signs of stabilization, full economic recovery in Sri Lanka is not yet assured. Growth momentum remains subdued, with real GDP in the second quarter contracting by 3.1 percent on a year-on-year basis and high-frequency economic indicators continuing to provide mixed signals. Reserve accumulation has also slowed in […]
Sri Lanka is to create cities that never sleep by revising certain regulations in an attempt to boost tourism. Minister of State for Tourism Diana Gamage said that the country has plans to launch promotional campaigns aimed at attracting 1.5 million foreign tourists to Sri Lanka by the end of this year. She emphasized 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 (IMF) mission team concluding its visit to Sri Lanka said that despite early signs of stabilization, full economic recovery is not yet assured.The post Despite signs of stabilization, full economic recovery not yet assured – IMF Mission appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
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...
S&P Global Ratings on Monday (Sept. 25) raised its long- and short-term local currency sovereign credit ratings on Sri Lanka to ‘CCC+/C’ from ‘SD/SD’ (selective default).The post S&P raises Sri Lanka local currency ratings to ‘CCC+/C’, says outlook stable appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka squad taking part in the upcoming ICC Cricket World Cup 2023 has been announced.The post Sri Lanka squad named for ICC Cricket World Cup 2023 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
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 […]
Over 200 corporate leaders attended the second Economic Forum sponsored by HSBC recently which was to discuss and share insights into the latest global trends and opportunities emerging for economic growth in Sri Lanka. Frederic Neumann, HSBC’s Chief Asia Economist and Co-Head of Global Research for HSBC Asia along with Aayushi Chaudhary, HSBC Economist for […]
[…]The post Target 2048 – Complex Economy System appeared first on Colombo Telegraph.
By N Sathiya Moorthy First, it was former Central Bank Governor Dr Indrajith Kumaraswamy. He was the chosen man of President Ranil Wickremesinghe, the then Prime Minister, for the job after his previous choice from Singapore, Arjuna Mahendran, scooted away in the light of the ‘bonds scam’ expose. The man is yet to be traced, for […]
[…]The post Glocalization Without Financialization appeared first on Colombo Telegraph.
Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage.The post Sri Lanka pays off $200 million loan from Bangladesh with $4.5 million interest appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Sanath Nanayakkare The Global CEO Forum Sri Lanka held at the Galadari Hotel on Thursday showed a clear shift of discussion topics by Sri Lankan business leaders compared to what they were talking about just a year ago. Completely deviating from airing worries about how to run their businesses amid economic turmoil, business leaders […]
Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage. In the last instalment, Sri Lanka paid about $50 million and $4.5 million in interest on the loan on Thursday night, a senior official of Bangladesh […]
[…]The post 117th Birth Anniversary & Long Legacy Of JR Jayewardene appeared first on Colombo Telegraph.
The newly established Governing Board of the Central Bank of Sri Lanka (CBSL) was held on Thursday (21).
The new Governing Board of the Central Bank of Sri Lanka (CBSL), constituted under provisions of the recently promulgated Central Bank Act No. 15 of 2021, took office on Sept.21 at the Board Room of the CBSL. The newly established Governing Board, succeeds the Monetary Board that functioned previously, under the provisions of the Monetary […]