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Debt-laden Sri Lanka will unveil its domestic debt restructuring strategy this week, central bank chief P Nandalal Weerasinghe said on Sunday (Jun 25), as the island navigates its worst financial crisis in decades. Sri Lanka will also likely obtain Cabinet and parliamentary approval for the debt restructuring strategy this week, Weerasinghe told local TV channels […]
- CB warns of catastrophic consequences if banking sector collapses (Category: Breaking News)
- Sri Lanka’s sovereign lenders yet to outline debt talks plans (Category: Breaking News)
- Sri Lanka to announce debt restructuring strategy in April (Category: Breaking News)
- CBSL Governor refuses to resign over pay hike issue (Category: Breaking News)
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran next month appeared first on ONLANKA - Latest Breaking News updates on Sri Lanka.
- Sri Lanka settles US$ 20 million Iranian oil debt with tea (Category: Breaking News)
- Sri Lanka set to start tea-for-oil barter with Iran next month (Category: Breaking News)
- Lankan, Iranian officials discuss how to boost SL tea exports (Category: Breaking News)
- Iran to double tea imports from SL (Category: Breaking News)
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 […]
- A stitch in time saves nine - Facing the short-term economic challenges (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
- After Lanka and Pakistan, now Bangladesh lines up before IMF for bailout (Category: Breaking News)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March. The economy of the country of 22 million is expected to shrink […]
- Sri Lanka and China’s EXIM Bank discuss debt restructuring exercise (Category: Breaking News)
- Top social media video creator/comedian promotes Sri Lanka (Category: Breaking News)
- Sri Lanka receives 1st disbursement of US$ 250 million from WB (Category: Breaking News)
- US to explore areas to support Sri Lanka (Category: Breaking News)
The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March.The post World Bank set to approve $700 Million for Sri Lanka next week appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - S...
- World Bank to provide $500 million budget support to Sri Lanka (Category: Breaking News)
- World Bank provides loan to strengthen healthcare in Sri Lanka (Category: Breaking News)
- No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank (Category: Breaking News)
- World Bank’s IFC to provide Sri Lanka with $400 million financing (Category: Breaking News)
Pakistan Finance Minister Ishaq Dar claimed that geopolitics was behind a stalled loan programme as global institutions wanted Pakistan to default like Sri Lanka and then enter negotiations. Testifying before the Senate’s standing committee on finance, Ishaq Dar stressed that the country would meet its obligations with or without the IMF’s bailout package. He said […]
- Foreign powers want Pakistan to default like Sri Lanka – Pakistan Finance Minister (Category: Breaking News)
- Foreign powers want Pakistan to default like Sri Lanka- Pakistani Minister (Category: Breaking News)
- Pakistan s finance minister opposes provincial snap polls mandated by court (Category: Breaking News)
- COPF approves resolution on Domestic Debt Optimization (Category: Breaking News)
Sri Lanka's economy (LKGDP=ECI) shrank 11.5% in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades.The post Sri Lanka’s economy shrinks 11.5% in first quarter as financial crisis continues appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
- Sri Lanka balances polls and crisis recovery in 2024 budget deliberations (Category: Breaking News)
- Sri Lanka economy could shrink by -3.5% to -4%, president says (Category: Breaking News)
- At least 17 people hospitalized after massive fire in Pettah (Category: Breaking News)
- Sri Lanka to start next round of talks with creditors in April (Category: Breaking News)
Thursday 15th June, 2023 Sri Lanka Customs has reportedly informed the government that it will not be able to meet its revenue targets due to the existing ban on vehicle imports. It has suggested that a foreign credit line be opened for the import controls at issue to be eased. But the question is why […]
- Remove ban on vehicle imports – Customs… (Category: Breaking News)
- Sri Lanka Customs deems import restrictions on vehicles a hindrance to revenue (Category: Breaking News)
- Import restrictions further relaxed (Category: Breaking News)
- Vehicle imports increase (Category: Breaking News)
Sri Lanka's President Ranil Wickremesinghe is likely to discuss the crisis-stricken nation's debt with Paris Club members on the sidelines of a trip to France next week, sources familiar with the matter told Reuters on Tuesday.The post Sri Lanka president to hold debt talks on France visit – sources appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka ...
- Sri Lanka could wrap up debt restructure talks by Sept, president says (Category: Breaking News)
- India expected to send ‘positive’ message on debt during Jaishankar’s visit to Sri Lanka (Category: Breaking News)
- Sri Lanka President Ranil Wickremesinghe leaves for UK and France on official visit (Category: Breaking News)
- Sri Lanka President to hold talks with Tamil National Alliance ahead of India visit – report (Category: Breaking News)
By Y P Prakash The current state of Sri Lanka evokes memories of India’s experience in the 1990s, although India was able to rectify the situation before it escalated to a critical level akin to a Bastille-like crisis. By 1991, India found itself on the brink of sovereign default. The Gulf War exacerbated the situation […]
- India – Sri Lanka Strengthen Trade and Connectivity with Daily Chennai-Jaffna Flights (Category: Breaking News)
- Sri Lanka’s energy sector at risk: Calls for diversification amidst Chinese investments (Category: Breaking News)
- India’s aerial capabilities undergoing substantial expansion and advancement (Category: Breaking News)
- Breaking Barriers: Sri Lanka’s Ambitious Vision for Regional Energy Integration and Grid Connect... (Category: Breaking News)
Sri Lanka President Ranil Wickremesinghe reiterated his commitment to prevent any regression of the country to its previous state, emphasizing his determination to transform Sri Lanka into a fully developed nation by 2048.The post Government’s objective is to develop Sri Lanka as a thriving nation by 2048 appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri ...
- Special Statement Delivered By President Ranil Wickremesinghe: Full Text (Category: Breaking News)
- The Government’s objective is to develop Sri Lanka as a thriving nation by 2048 – President (Category: Breaking News)
- Govt. to unveil National Reorganisation Plan – President (Category: Breaking News)
- President blames Sajith for crisis (Category: Breaking News)
[…]The post Special Statement Delivered By President Ranil Wickremesinghe: Full Text appeared first on Colombo Telegraph.
- Government’s objective is to develop Sri Lanka as a thriving nation by 2048 (Category: Breaking News)
- The Government’s objective is to develop Sri Lanka as a thriving nation by 2048 – President (Category: Breaking News)
- President blames Sajith for crisis (Category: Breaking News)
- Govt. to unveil National Reorganisation Plan – President (Category: Breaking News)
President Ranil Wickremesinghe making a special statement to the nation reiterated his commitment to prevent any regression of the country to its previous state and his determination to transform Sri Lanka into a fully developed nation by 2048. The President explained at length the measures taken by the government in the past nine months to […]
- Special Statement Delivered By President Ranil Wickremesinghe: Full Text (Category: Breaking News)
- Government’s objective is to develop Sri Lanka as a thriving nation by 2048 (Category: Breaking News)
- Navigating The Economic Reawakening & Sustainable Growth (Category: Breaking News)
- Govt. to unveil National Reorganisation Plan – President (Category: Breaking News)
Thousands of Indians from across Australia on Tuesday accorded a rousing welcome to PM Modi at a diaspora event at the Qudos Bank Arena in Sydney, one of the country’s biggest indoor stadiums. The PM and his Australian counterpart addressed and interacted with a gathering of over 20,000 people, during which Anthony Albanese called Modi […]
- Our ties have entered T20 mode: PM on deepening relations with Australia (Category: Breaking News)
- PM Modi raises issue of attacks on temples in Australia, says PM Albanese assured “will take str... (Category: Breaking News)
- Indian national flag hoisted for first time during Sikh Games in Australia (Category: Breaking News)
- Australia, India share commitment to stable, secure and prosperous Indo-Pacific: PM Albanese (Category: Breaking News)
By Hema Senanayake hemasenanayake@yahoo.com IMF has an ideology, a system of ideas and ideals which forms the basis of its decisions and policy prescriptions for which the recipient country of the loan claims as of its own. The most important idea does not originate from economic theory but international trade theories instead. The Great Recession […]
- Flexible Rate (Category: Business)
- RW says great power rivalries and geopolitics emerging threat to Third World (Category: Breaking News)
- Steve Hanke on currency boards and flawed pegs amid Sri Lanka meltdown (Category: Breaking News)
- Reactions (Category: Business)
India and Sri Lanka are exploring the possibility of using the Indian Rupee for economic transactions in order to strengthen their partnership through trade and investment-led measures. Recently, the High Commission of India organized a discussion in Colombo, on the use of the Indian Rupee for transactions between the two countries. Representatives from the Bank […]
- Indian tourists visiting Sri Lanka can pay in INR (Category: Breaking News)
- Indian Rupee not a legal tender in Sri Lanka for domestic payments (Category: Breaking News)
- RBI allows international trade settlement in Rupee (Category: Breaking News)
- RBI permits banks to open vostro accounts from 22 countries for trade in rupee (Category: Breaking News)
Pakistan's anti-graft watchdog arrested former Prime Minister Imran Khan at Islamabad High Court on Tuesday, in a dramatic move that threatens fresh turmoil in the nuclear-armed country.The post Former Pakistan Prime Minister Imran Khan arrested, aides call for nationwide protest appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- Former Pakistan Prime Minister Imran Khan shot and wounded in ‘clear assassination’ attempt (Category: Breaking News)
- Pakistani court releases Imran Khan on protective bail (Category: Breaking News)
- Pakistan ex-PM Imran Khan and wife jailed for 7 years for unlawful marriage (Category: Breaking News)
- Ex-Pakistan PM Imran Khan apologises in contempt of court case (Category: Breaking News)
Sri Lanka's apparel export earnings could slump by $1 billion this year, a top industry expert said on Wednesday, as slowing global demand hits the crisis-hit South Asian country.The post Sri Lanka apparel exports to drop by $1 billion in 2023, trade body says appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- October sees 20% decline in apparel exports from Sri Lanka (Category: Breaking News)
- Trade Performance (Category: Business)
- Trade Trends (Category: Business)
- ‘Europe, SL’s biggest apparel market’ (Category: Breaking News)
Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades.The post Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- Sri Lanka economy could shrink by -3.5% to -4%, president says (Category: Breaking News)
- Sajith claims VAT hike will shrink economy (Category: Breaking News)
- Sri Lanka economy to shrink over 8-pct in 2022, inflation may peak below 70-pct: CB chief (Category: Breaking News)
- Sri Lanka fixed wireless users shrink, broadband up (Category: Breaking News)
[…]The post Is State Owned Temasek A Useful Concept For Sri Lanka? appeared first on Colombo Telegraph.
- Planning For A Year Of Elections (Category: Breaking News)
- Waiting For Godot: Can Some Developing Nations Unite & Transform The Planet? (Category: Breaking News)
- What I Wish To See In The NPP (Category: Breaking News)
- The Partnership Between NPP & JVP Must Be Emboldened (Category: Breaking News)
Friday 21st April, 2023 Parliament is going to debate the government’s agreement with the IMF, which has approved USD 3 billion for Sri Lanka under the Extended Fund Facility Arrangement. The debate is scheduled to take place from 26 to 28 April, we are told. Public finance is the province of Parliament, which should scrutinise the […]
- Power of Parliament subjugated to IMF dictates – JVP (Category: Breaking News)
- Speaker’s criticism of govt., hailed by Opposition (Category: Breaking News)
- SJB demands entire agreement with IMF, refuses to take part in vote (Category: Breaking News)
- President to make fresh clarion call for all-party national government (Category: Breaking News)
Japan, India and France are scheduled to hold a press briefing on Thursday (13 April) to announce the launch of the debt restructuring negotiation process on Sri Lanka.The post Japan, India and France to announce Sri Lanka’s debt restructuring negotiation process appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Japan, India and France to announce launch of Sri Lanka s debt restructuring negotiations (Category: Breaking News)
- Japan, India and France launch creditors meeting on Sri Lanka debt (Category: Breaking News)
- China assures commitment towards Sri Lanka’s debt restructuring process (Category: Breaking News)
- India seeks close coordination between Sri Lanka and all creditors (Category: Breaking News)
India and Japan have jointly agreed to cooperate with Sri Lanka to bolster regional connectivity in the strategic Indo-Pacific, a media report said on Friday, amid China’s aggressive military manoeuvring in the resource-rich region.The post India, Japan join hands with Sri Lanka to bolster regional connectivity in Indo-Pacific region appeared first on Sri Lanka News - Latest Breaking News in Sri L...
- India, Japan join hands with Sri Lanka to bolster regional connectivity in Indo-Pacific region (Category: Breaking News)
- Sri Lanka will not allow anything harmful to India’s security – President Ranil (Category: Breaking News)
- India aims for enhanced trilateral cooperation with Japan and Lanka (Category: Breaking News)
- Japan destroyer tests Sri Lanka shipyard with eye on future use (Category: Breaking News)
The International Monetary Fund (IMF) bailout will help bring Sri Lanka’s depleted foreign exchange reserve to pre-crisis levels in four years, said the country’s central bank governor.The post With IMF bailout, Sri Lanka will have healthy dollar reserves in 4 years – Central Bank Governor appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka gives China deal details, keeping IMF aid on track (Category: Breaking News)
- Sri Lanka to announce debt restructuring strategy in April – Central Bank Governor (Category: Breaking News)
- Sri Lanka’s inflation expected to significantly cool in the coming months – CBSL Governor (Category: Breaking News)
- IMF says Sri Lanka debt deal could help board clear first bailout review (Category: Breaking News)
Sri Lanka will kick off the next round of talks with creditors in the third week of April, President Ranil Wickremesinghe said on Wednesday, adding that the debt-stricken nation has started to receive funds from the International Monetary Fund.The post Sri Lanka to start next round of talks with creditors in April appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka’s talks with creditors ongoing, unaware of specific deals – IMF (Category: Breaking News)
- Global investors and Sri Lanka officials set for second round of Bond Restructuring talks (Category: Breaking News)
- Sri Lanka postpones debt restructuring talks, hopes for IMF deal in December (Category: Breaking News)
- Japan, India and France launch creditors meeting on Sri Lanka debt (Category: Breaking News)
Sri Lanka’s bailout by the International Monetary Fund will help the bankrupt nation lower its borrowing costs, thanks in part to a change in how the cash can be used, central bank Governor Nandalal Weerasinghe said.The post IMF Deal will cut Sri Lanka borrowing costs, Central Bank Chief says appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka’s inflation expected to significantly cool in the coming months – CBSL Governor (Category: Breaking News)
- IMF to visit Sri Lanka in late August for staff-level agreement – Central Bank Governor (Category: Breaking News)
- Sri Lanka to introduce new central bank law, inflation target (Category: Breaking News)
- IMF process should continue whoever is in power – Central Bank Governor (Category: Breaking News)
The economic and financial condition of Sri Lanka is very precarious at the moment. It has been facing the worst economic crisis since its independence in 1948. The Sri Lankan economy is going through a high rate of inflation, a shortage of essential commodities including fuel and medicines, and a depleted foreign exchange reserve insufficient […]
- China holds key to Sri Lanka’s debt restructuring to ease economic crisis (Category: Breaking News)
- Sri Lanka president wants China to dramatically change stance on debt relief (Category: Breaking News)
- Sri Lanka must avoid China’s debt restructuring as Beijing is to seek preferential treatment (Category: Breaking News)
- US Treasury Secy assures support for Sri Lanka’s debt restructure: president’s office (Category: Breaking News)
[…]The post The Central Bank Rejected U.S. Billionaire’s Bitcoin Pitch appeared first on Colombo Telegraph.
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
- Resolving Systemic Debt Crises Needs A Paradigm Shift (Category: Breaking News)
- Failed Economy: Bribery & Corruption To Maintain Power (Category: Breaking News)
- Taxation Unavoidable Towards A Better Society? (Category: Breaking News)
The International Monetary Fund (IMF) has approved loans of $4.7 billion to Bangladesh for disbursal starting immediately, making it the first to secure such funds out of three South Asian countries that applied last year amid economic trouble.The post Bangladesh secures $4.7 billion from IMF as other South Asian countries see delays appeared first on Sri Lanka News - Latest Breaking News in Sri L...
- Bangladesh secures loans of $4.7 billion from IMF (Category: Breaking News)
- IMF insists on creditor assurances to unlock $2.9 Billion Sri Lanka bailout (Category: Breaking News)
- Bangladesh seeks $4.5 billion IMF loan as deficit widens (Category: Breaking News)
- Sri Lanka confident of meeting conditions for IMF funding soon – report (Category: Breaking News)
India’s External Affairs Minister S. Jaishankar on Thursday met Sri Lanka's top leadership and conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery.The post Jaishankar conveys India’s commitment to increase investment flows to Sri Lanka to hasten economic recovery appeared first on Sri Lanka News - Latest Breaking News in Sri La...
- India remains committed to assist Sri Lanka in its economic recovery – Jaishankar tells Sabry (Category: Breaking News)
- “A friend in need is a friend indeed”: Sri Lanka’s praise for India (Category: Breaking News)
- Sri Lanka’s creditors must take proactive steps to facilitate its recovery: Jaishankar (Category: Breaking News)
- India’s prudence towards Sri Lanka further consolidates the “neighbourhood first” policy of Prim... (Category: Breaking News)
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