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[An article based on the Keynote Address delivered by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, recently at the Annual Research Symposium 2023 of the University of Colombo] Introduction Inflation affects every aspect of our lives; it is a force that shapes our purchasing power, influences our financial decisions, and […]
[…]The post Water Wars – In Relentless Pursuit Of Blue Gold appeared first on Colombo Telegraph.
Sri Lanka and Argentina remain very vulnerable amid a worsening in global financial conditions while China has suffered a sharp deterioration in financial resilience since pre-COVID times, a think-tank study found on Wednesday.The post Sri Lanka, Argentina top list of most vulnerable economies -study appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Thuesday 22nd August, 2023 No sooner had the Indian government announced its decision to impose a 40% tax on onion exports to overcome a shortfall in the domestic supply than Sri Lankan traders jacked up onion prices exponentially. They would not have reacted so swiftly to a drop in onion prices in the international market. […]
Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]
By Prabhat Patnaik After Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis. It has asked for a $4.5 billion loan from the IMF, apart from $1 billion from the World Bank and $2.5-3 billion from multilateral agencies and donor nations. Though the […]
By Chani Imbulgoda “We suffer today, because leaders in the past have failed to govern this country properly”. Oh, the predecessor has not done things well, they all have let the place go haywire”. Familiar excuses… When one takes over the leadership be it the country, be it an organisation, or be it a new […]
By N Sathiya Moorthy How come a ‘poor’ in Asia is also among the ‘miserable’ in the world? But it is possible, as two economic surveys of nations have shown, coming as they do almost simultaneously. A certain Hanke’s Annual Misery Index (HAMI) 2022 has ranked Sri Lanka as the 11th […]
[…]The post Beyond The Myth Of TINA To The IMF: The New Development Bank In The Asian 21st Century appeared first on Colombo Telegraph.
[…]The post Inflation, Interest Rate & Imperialism appeared first on Colombo Telegraph.
The Sri Lankan government is seeking Russian cooperation in multiple sectors, namely, tourism, air traffic, and locomotive construction, besides eyeing crude from Moscow.The post Sri Lanka mulls buying Russian oil & fertilizers appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
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 […]
[…]The post President RW’s Priority In 2023 appeared first on Colombo Telegraph.
President Ranil Wickremesinghe stressed that everyone should unite to fulfil their moral responsibility for the country, sidelining the traditional political system of trying to grab power at the next election by palming off all the responsibilities on the government.The post Step out of traditional politics and fulfil moral responsibility – President appeared first on Sri Lanka News - Lates...
[…]The post Budget 2023: A Depth Or Dearth appeared first on Colombo Telegraph.
Sri Lanka approved legislation on Tuesday to let companies from oil-producing nations import and sell fuel as it attempts to cope with a steep oil bill that deepened its worst financial crisis in decades.The post Sri Lanka approves law to liberalize petroleum imports appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lankans have lost access to most medicine and medical supplies, setting them on course for a humanitarian disaster, Direct Relief reported. Unlike Russia’s invasion of Ukraine and the recent hurricane batterings of Puerto Rico and Florida, Sri Lanka’s crisis grew slowly and has garnered few international headlines. But Sri Lankans are suffering amid the […]
By DR L M K Tillekeratne Chairman of the National Development Committee of the ACBC It is a well-known fact that one the problems faced by Sri Lanka today is caused mainly by shortage of electricity for domestic purposes and industries. Three decades ago, only 20 % of houses had electricity for lighting. But, today […]
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
A food crisis in Sri Lanka looms as the island nation faces its worst economic disaster in decades. With food price inflation higher than 90%, even staples like rice have become almost unaffordable for many Sri Lankans. The World Food Programme (WFP) estimates that about 30% of the population is food insecure and that one out of […]
Sri Lanka’s former president, Gotabaya Rajapaksa, who fled the country in July after tens of thousands of protesters stormed his home and office in a display of anger over the country’s economic crisis, has returned to the country after seven weeks.The post Sri Lanka’s ousted president Gotabaya Rajapaksa returns home after fleeing appeared first on ONLANKA News :. Sri Lanka Latest Breaking N...
Thursday 1st September, 2022 There is absolutely no need for aliens to take the trouble of undertaking intergalactic missions to destroy this planet. The so-called big powers vying for global dominance are already at it, and the signs are that they will succeed in their endeavour. The entire world is reeling from the war in […]
ByShamindra Ferdinando Sri Lanka hadn’t been able yet to convince Russia to resume Aeroflot flights and tourists from there to Sri Lanka suspended in the wake of the detention of SU 289 at the Bandaranaike International Airport (BIA) on the afternoon of June 02, authoritative sources said. Sri Lanka grappling with an unprecedented foreign exchange […]
Calls for unity in a country torn apart by nationalism and monetary instability
Selected imports will be restricted to balance payments for fuel, President Ranil Wickremesinghe said today. The President told Parliament that the immediate requirement before the country is fuel. “While appreciating the international assistance in addressing the fuel shortage, it in timely that we now initiate a system for such importation from our own export income […]
[…]The post Presidential Dilemma: Find Fuel Or Face Protests appeared first on Colombo Telegraph.
Hambantota in southern Sri Lanka housed ousted President Gotabaya Rajapaksa following the recent crisis, until he was forced to flee the country entirely. That continues a trend of the city, and especially its strategic deep-sea port, being in the news for all the wrong reasons. In 2017, when Sri Lanka found itself struggling to make […]
[…]The post Good Bye Ranil; “Welcome” President Dulles Alahapperuma appeared first on Colombo Telegraph.
Sri Lanka’s Acting President Ranil Wickremesinghe says that the issues which prevail in Sri Lanka with regard to hunger, are man made.The post The food crisis in Sri Lanka is man made, Acting President Ranil tells Global Forum appeared first on ONLANKA News - Sri Lanka News - Latest News Sri Lanka - Breaking News from Sri Lanka.
By Michael Rowand As Sri Lankan protesters stormed the presidential residence in Colombo, the Chinese Embassy released no statements and did not tweet. The Chinese Ministry of Foreign Affairs offered no comment until Monday afternoon, well behind others such as India, the European Union, and the United States. The French Embassy even retweeted a tweet […]