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[…]The post Why Should We Beg IMF? – When More Than $36 Billion To Be Recovered appeared first on Colombo Telegraph.
Vietnamese airlines have to temporarily postpone the resumption of air routes to China until late April or May to wait for China’s next decisions about the allowance of its tourists to Việt Nam, according to the Civil Aviation Authority of Việt Nam (CAAV). In mid-February, China announced the reopening of tours to 20 countries, excluding […]
Sri Lanka has taken a policy decision to switch to nuclear energy, Cabinet Spokesman Bandula Gunawardena said. He said that Cabinet approval has already been given to consider nuclear energy as an alternative to meet Sri Lanka’s future energy needs. In accordance with that decision, a steering committee and 09 action committees had been appointed […]
The Sri Lanka Bureau of Foreign Employment (SLBFE) and the Ministry of Labour and Foreign Employment have signed an agreement with the Japan International Training Cooperation Organisation (JITCO).
Hatch has joined forces with Draper Startup House to unveil Colombo’s first-ever co-living space. The space marks the first phase of Hatch’s strategic partnership with Draper Startup House, and was officially opened by Silicon Valley billionaire investor Tim Draper during his recent visit to Sri Lanka. Through this initiative, Hatch serves to encourage digital nomad […]
[…]The post Sri Lanka’s Two Challenges: Economic Recovery & Political Devolution appeared first on Colombo Telegraph.
The International Finance Corporation (IFC), the World Bank’s investment arm, said it will provide Sri Lanka with a $400 million cross-currency swap facility to help fund essential imports.The post World Bank’s IFC to provide Sri Lanka with $400 million financing appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The International Finance Corporation (IFC) is to provide $400 million to three of Sri Lanka’s leading national banks to help facilitate imports of essential goods. IFC said it will support the private sector with critical financing, contributing to the country’s urgent need to stabilize the economy. Sri Lanka has been facing its worst economic crisis […]
The Monetary Board of the Central Bank of Sri Lanka has decided to reduce mandatory sale of export proceeds/receipts and inward workers’ remittances of commercial banks with effect from February 27, 2023.The post Sri Lanka’s Central Bank reduces mandated forex sales by banks to 15% appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Selling Our Troubles In Bankrupt Times – Sri Lanka’s Anarchism appeared first on Colombo Telegraph.
[…]The post Crisis-Hit Sri Lanka Economy appeared first on Colombo Telegraph.
Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, posted impressive overall growth with annual revenue surpassing Rs 100 Bn once again, recording Rs 108 Bn for the financial year 2022. This resulted in the Group recording a revenue increase of 5.2% for the financial year 2022, strengthened by a healthy bottom line […]
[…]The post The Partnership Between NPP & JVP Must Be Emboldened appeared first on Colombo Telegraph.
China Daily: Sri Lanka is set to receive its first group of post-pandemic Chinese tourists after becoming one of the first 20 countries to resume the organization of outbound group tourists from China since COVID-19. Their flight will depart from the Shanghai Pudong International Airport on March 3. “We are expecting Chinese tourists to come […]
By Saman Indrajith SBJB MP Harsha de Silva said that he had asked the Gotabaya Rajapaksa administration to seek IMF assistance in 2020. “At that time a U.S dollar was selling at Rs 200. The interest rates were around six percent. Inflation was around six percent. The situation is completely different today. Our interest rates […]
By Noah Berman A wave of darkness engulfed Pakistan on January 24 as its aging power grid strained to meet the country’s demand for electricity. The massive outage was the latest in a series of blackouts that have become a chronic symptom of Pakistan’s ailing and climate-vulnerable economy, under duress from devastating natural disasters, a colossal […]
By Sanath Nanayakkare The prospects for lightening the debt burden of low-income countries such as Sri Lanka will become clearer at the G20 meeting to be held in Bengaluru, President Ranil Wickremesinghe said in Colombo on Tuesday. He said so referring to the G20 Finance Ministers and Central Bank Governors meeting under the G20 Indian […]
The Government today defended its relations with China and other countries saying it will maintain a “multi-aligned” foreign policy. Foreign Minister Ali Sabry said that Sri Lanka cannot anger any country, be it the US, Europe or China. He noted that China has always defended Sri Lanka in the international arena. “Some said that China […]
Pakistan and Sri Lanka are getting close to securing bailouts from the International Monetary Fund after taking a series of steps including tax increases to boost their beleaguered economies.The post Sri Lanka and Pakistan close in on IMF deals after raising taxes – report appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The International Monetary Fund (IMF) remains hopeful of Sri Lankan authorities securing financing assurances from all its bilateral creditors soon, so that the Fund’s Executive Board could give its nod to unlock the envisaged US$ 2.9 billion bailout package to support the crisis-hit economy, a top IMF official said.The post IMF remains hopeful of Sri Lanka securing all financing assurances soon t...
COYLE annual diplomats’ evening: The Chamber of Young Lankan Entrepreneurs (COYLE), consisting of a membership of over 120 entrepreneurs and highly recognized business entities, hosted their annual evening of open discussion and networking with the diplomatic community in Sri Lanka. Foreign Minister, Ali Sabry was invited as the chief guest who delivered an impassioned and […]
According to President Ranil Wickremesinghe, the current tax policy in Sri Lanka is not a normal tax policy, but rather a rescue operation. He warned that if this process is disrupted, Sri Lanka will not be able to join the International Monetary Fund (IMF) program and may lose the opportunity to do business with foreign countries.
Sri Lanka today sought international support to expedite a response from the International Monetary Fund (IMF) on funding and assistance. Foreign Minister Ali Sabry briefed the Head of Missions of the Paris Club member nations and the HOM of India at the Foreign Ministry today. The Governor of the Central Bank, Nandalal Weerasinghe, Treasury Secretary […]
Delivering the keynote speech at the Tax Forum 2023 today (21), President Ranil Wickremesinghe,said that the current tax policy in Sri Lanka is not a normal tax policy, but rather a rescue operation. He warned that if this process is disrupted, Sri Lanka will not be able to join the International Monetary Fund (IMF) program […]
Veteran banker, Faizal Salieh, has been appointed as the new Chairman of the Securities and Exchange Commission of Sri Lanka (SEC). He has been appointed to the post with effect from 20 February 2023. Salieh served as the Chief of Corporate and Merchant Banking at ANZGrindlays Bank; COO of NDB; Executive Director/CEO of NDB Housing […]
[…]The post Anatomy Of A Change; From Wijeweera’s JVP To AKD’s NPP appeared first on Colombo Telegraph.
Sri Lanka is tangled in the worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange that forced the country to annouce a suspension of foreign debt repayments in April 2022.The post Sri Lanka to make $2.6 billion in loan repayments in first half of year appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Export-Import Bank of China has provided Sri Lanka with a debt extension, China’s Foreign Ministry said on Monday, noting that China is willing to negotiate a medium- and long-term debt disposal plan with the country in a friendly manner, and do its best to promote Sri Lanka’s debt sustainability.The post China already offers Sri Lanka debt extension: Chinese Foreign Ministry appeared first on...
The apparel industry is at risk following the electricity tariff hike, the Joint Apparel Association Forum (JAAF) said. The Public Utilities Commission (PUCSL) granted approval to a 66% electricity tariff hike effective 15th February 2023, resulting in exponential increases in costs in the apparel industry, which in turn threatens the continuity of operations, competitiveness and […]
[…]The post A führer In The Making appeared first on Colombo Telegraph.