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[…]The post Debt, Divestiture & Discontent appeared first on Colombo Telegraph.
The IMF s (International Monetary Fund) First Deputy Managing Director, Gita Gopinath has congratulated the Sri Lankan authorities on the steady progress made on several fronts, including inflation reduction, revenue enhancement and governance reforms.
ECONOMYNEXT –The government is expecting to conclude all the transactions related to divestiture of State-Owned Enterprises (SOE) by August this year under an ambitious reform process, the government-led State-Owned Enterprises Restructuring Unit (SOERU) said. However, the divestiture of loss-making Srilankan Airlines is likely to be concluded by September, it said. The SOERU has already called [&...
ECONOMYNEXT –The International Finance Corporation (IFC), the World Bank’s investment arm emphasized the importance of the private sector engagement in the recovery of the crisis-hit Sri Lanka’s economic growth. Riccardo Puliti, the IFC’s Vice President for Asia and the Pacific said this when he met State Finance Minister Shehan Semasinghe and the island nation’s Central […]
Having hit a roadblock with international bondholders, uncertainty looms over the economy of crisis-hit Sri Lanka and an upcoming review by the International Monetary Fund (IMF), experts warn.
An Israeli missile has struck Iran, according to two U.S. officials who spoke with CBS News, the BBC's US partner.The post Israeli missile strikes Iran amid escalating Middle East tensions appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The United States (US) has urged Sri Lanka to continue the commendable reforms undertaken over the past two years by the Government. State Minister of Finance Shehan Semasinghe said that he had a cordial meeting with Änjali Kaur, USAID Deputy Assistant Administrator of the Bureau for Asia. “Appreciated the multi-pronged assistance provided by USAID to […]
Saturday 20th April, 2024 The Gaza conflict shows signs of spiralling into a much broader war, which is likely to threaten world peace and destabilise the global economy. Friday’s Israeli missile and drone strikes on the Iranian city of Isfahan, which is said to be home to several nuclear facilities, has pushed the Middle East […]
As a collective body of exporters, we have been at the forefront of sustaining employment and ensuring a steady flow of foreign exchange, even amidst the most severe economic downturns faced by our nation. Our membership covers the majority of merchandise exports, which account for some 13% of Sri Lanka’s GDP. Today, we stand united […]
In a recent televised interview, Nishan de Mel, the Executive Director of Verité Research, stated that holders of Sri Lanka’s International Sovereign Bonds (ISBs) have expressed concerns about specific aspects of the debt sustainability analysis conducted by the country alongside the IMF. This disagreement is one of the key hurdles in reaching an accord with […]
The 19-year-old Sri Lankan national charged in the mass killing of a newcomer family in Ottawa has no plan to seek bail, his lawyer says. Febrio De-Zoysa was arrested and charged in early March with six counts of first-degree murder and one count of attempted murder, after police found the family dead in a townhouse […]
The Transparency International Sri Lanka (TISL) has filed a fundamental rights (FR) petition before the Supreme Court seeking an order that the fundamental rights have been violated through the purchase of certain types of drugs including Human Immunoglobulin vials, without following the proper procurement process.
The Museum of Modern and Contemporary Art Sri Lanka (MMCA Sri Lanka) particularly focuses on educational initiatives for various target groups across the country. These include the general public, and schools and higher educational institutions in Sri Lanka. Through its Schools and Higher Education Institutions Outreach Programme, the MMCA Sri Lanka engages with preschools, schools, […]
The International Monetary Fund (IMF) has expressed its readiness to assist Sri Lanka in its negotiations with international bondholders, according to a Reuters report. An IMF spokesperson has been quoted as saying that a formal assessment will be provided once a preliminary agreement is reached. The spokesperson has expressed hope that an agreement aligning with […]
The Ministry of Foreign Affairs, in coordination with Sri Lanka Missions in Myanmar and Thailand has facilitated the repatriation of eight Sri Lankans who were trafficked for forced criminal activities in cyber scamming compounds in Myanmar, a Ministry communique said yesterday. Myanmar law enforcement authorities rescued these Sri Lankans on 4 April 2024, following the […]
Transparency International Sri Lanka (TISL) filed a Fundamental Rights Application (SCFR/ 99/2024) at the Supreme Court on 16 April 16, highlighting the serious ramifications on the health sector and the general public from the recent controversial procurement of medical supplies including human immunoglobulin (Human-IG). The Cabinet of Ministers, the incumbent and former higher officials in [R...
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...
The Ministry of Foreign Affairs and the International Organization for Migration (IOM) – the UN Migration entity, facilitated the voluntary return of eight Sri Lankan migrants who were trafficked for forced criminal activities in the cyber scamming compounds in Myanmar. The Sri Lankan migrants have been forced into various cyber scamming activities in Myawaddy area […]
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.
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.
The eight Sri Lankans, including 2 females who were rescued from the cyber scamming camps in Myawaddy area of Myanmar have arrived in Sri Lanka this morning after being repatriated with the help of the International Organisation for Migration (IOM) and the Ministry of Foreign Affairs.
Sri Lanka completed the highest successful chase in women’s ODIs, against South Africa, and the only one over 300 thanks to a sensational 195* from their captain Chamari Athapaththu. She finished with her career-best ODI score and the third-highest individual score by a batter in women’s ODIs to help Sri Lanka level the series 1-1. In a battle of the […]
Thursday 18th April, 2024 Tourist arrivals are on the increase, according to the Sri Lanka Tourism Development Authority. Prestigious international travel guides are very generously promoting Sri Lanka as a must-visit tourist destination. Lonely Planet says ‘endless beaches, timeless ruins, welcoming people, oodles of elephants, rolling surf, cheap prices, fun trains, famous tea and flavourful [&#...
Sri Lanka Insurance concludes the year 2023 with remarkable success, achieving an impressive profit before taxation of Rs. 10.6 billion, reflecting a robust improvement in combined Gross Written Premium (GWP) of Rs. 44.2 billion, marking a growth of 7.2%. As of December 31, 2023, Sri Lanka Insurance Life recorded a premium volume of Rs. 21 […]
The Samagi Jana Balawegaya (SJB) has urged the government to maintain transparency in the ongoing debt restructuring process as national elections are around the corner and that the next government will have to honour the conditions agreed upon by the incumbent administration. The SJB said so soon after the government of Sri Lanka rejected international […]
Sri Lanka completed the highest successful chase in women’s ODIs, against South Africa, and the only one over 300 thanks to a sensational 195* from their captain Chamari Athapaththu. She finished with her career-best ODI score and the third highest individual score by a batter in women’s ODIs to help Sri Lanka level the series […]
Reuters reports that Sri Lanka intends to engage with the International Monetary Fund (IMF) to determine if its recent debt restructuring proposals align with the terms of its financial aid program, according to a statement from the finance ministry on Wednesday.The post Sri Lanka consults IMF after rejecting debt restructure proposal appeared first on ONLANKA - Sri Lanka Latest Breaking News and ...
The Government of Sri Lanka says it hopes to continue discussions with the bondholders with a view to reaching common ground ahead of the International Monetary Fund (IMF) board consideration of the second review of Sri Lanka s Extended Fund Facility (EFF) program.
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 […]
The government of Sri Lanka has announced that it held restricted discussions over the past three weeks (the “Restricted Period”) with nine members of the steering committee who agreed to take part in the restricted discussions (the “Steering Committee”) of the Ad Hoc Group of Bondholders (the “Group”, and together with Sri Lanka, the “Parties”) of [...