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Sri Lanka’s tentative recovery from its worst economic crisis could be stalled by presidential elections due later this year, the island nation’s central bank chief warned on Tuesday. Months-long shortages of food, fuel and medicines culminated in Sri Lanka defaulting on its foreign debt in 2022 and angry protests that led to the ouster of […]
Sri Lanka is to investigate claims of a major mobile phone phishing scam after an MP alleged that huge sums of money had been stolen from unsuspecting individuals. State Minister of Finance Ranjith Siyambalapitiya said that a report on the matter will be submitted to Parliament. Parliamentarian Gamini Waleboda claimed that malware had been shared […]
Sri Lanka's official reserve assets grew by 9.6% in April 2024, as announced by the Central Bank of Sri Lanka (CBSL).The post Sri Lanka’s official reserve assets up by 9.6% in April 2024 appeared first on Sri Lanka News | Breaking News & Top Stories in Sri Lanka | ONLANKA.
Sri Lanka s official reserve assets increased by 9.6% to USD 5.43 billion in April 2024, compared to USD 4.96 billion in March 2024, according to the Central Bank of Sri Lanka (CBSL).
[…]The post Valuing Japan’s Moral Ethos & Economic Assistance appeared first on Colombo Telegraph.
by Jehan Perera The visit of Japan’s foreign minister Yoko Kamikawa to Sri Lanka is an indication that the relationship between the two countries is on the mend. The manner in which Japan was ousted from the special status it had once held by the previous government headed by President Gotabaya Rajapaksa would have caused […]
[…]The post Fleas Dream Of Buying A New Dog appeared first on Colombo Telegraph.
Pivithuru Hela Urumaya (PHU) leader MP Udaya Gammanpila claims that the Central Bank of Sri Lanka (CBSL) had increased the salaries of its employees by the biggest margin in its history, despite having recorded losses of billions of rupees for two consecutive years.
Concluding a two-day visit, IFC’s Vice President for Asia Pacific, Riccardo Puliti, signaled IFC’s commitment to supporting Sri Lanka’s ongoing reforms and growth agenda. He also emphasized the importance of private sector-led development for inclusive economic growth. The visit served as an opportunity for Puliti to engage with key stakeholders, including meeting the President of [...
by Jayasri Priyalal Jayasripriyalal59@gmail.com The greatest challenges confronting the nation-states in the current era revolve around; deplorable debt, depleted natural resources, and degraded environment. Economic growth and future prosperity for all living beings are stalled due to the varying degrees of the 3D problems emerging out of ill-conceived policy divergences propelling the linear eco...
[…]The post Pointless Debate On The Economy When Issue At Hand Is Much Broader appeared first on Colombo Telegraph.
The Asian Development Bank (ADB) has reiterated its unwavering steadfast commitment to support Sri Lanka.
[…]The post Demise Of Eelaventhan- My Beloved Older Brother appeared first on Colombo Telegraph.
[…]The post The “Aragalaya“ Of 1848 appeared first on Colombo Telegraph.
The Committee on Public Finance (CoPF) has approved, subject to conditions, the Recovery of Loans by Banks (Special Provisions) (Amendment) Bill which was amended to facilitate legal provisions for the suspension of Parate Law until December 15 2024. Accordingly, the banks’ practice of acquiring properties of whose loans are yet to be paid off will […]
Sri Lanka s gross official reserves (GOR) stood at USD 5 billion by the end of March 2024, recording a notable increase compared to USD 4.4 billion at the end of 2023.
Thursday 2nd May, 2024 The police have embarked on a campaign, parallel to their war on drugs, to clear busy intersections of beggars who solicit alms near traffic lights, causing much inconvenience to motorists. Scores of beggars have already been arrested and hauled up before courts for doing so, we are told. Sri Lankans drive […]
Over the last few decades China has not only become Africa’s largest trading partner, but is its biggest bilateral lender. In the last 15 years, trade between China and African nations reached $282.1 billion (in 2023). Out of these numbers, most of the exports to China were supplied by South Africa, Angola and the Democratic […]
The International Monetary Fund (IMF) wants Sri Lanka to work on governance issues and to also stick to the IMF supported program. Krishna Srinivasan, IMF Director of the Asia and Pacific Department noted that Sri Lankans faced a very difficult challenge when they embarked on the IMF program. “And so far, what we’ve seen is […]
‘Public Debt Management Bill threat to democratic governance’ By Shamindra Ferdinando Opposition MP Charitha Herath yesterday (30) alleged that the controversial Public Debt Management Bill that had been tabled in Parliament last week was aimed at bringing public sector finance entirely under the Finance Minister. Claiming that UNP leader and President Ranil Wickremesinghe, in his […]
[…]The post Lessons From America appeared first on Colombo Telegraph.
The Annual Economic Review and Financial Statements and Operations of the Central Bank for the Year 2023 points out that backtracking from the implemented and planned critical reforms will tip the economy to a state of instability. Thus, continuing with the broader political and social consensus on economic reforms will be critical to avoid recurring […]
The Commercial Bank of Ceylon has opened up a world of new opportunities for Sri Lankan businesses, by becoming the first bank in Sri Lanka to enable Alipay QR Code payments under unified Lanka QR. Alipay e-wallet holders, currently numbering over 1 billion, can now scan the Commercial Bank LankaPay unified QR code issued to […]
Sri Lanka Insurance Life (SLICLL) further strengthening its Bancassurance partnership with Regional Development Bank (RDB) opened a dedicated counter for the Bancassurance operation at the RDB head office in Kelaniya recently. This strategic initiative underscores SLICLL’s commitment to delivering seamless insurance solutions in collaboration with RDB. The occasion was graced by the corporat...
[…]The post Foreign Debt Restructuring: Too Late & Too Short To Get Out Of The Debt Trap appeared first on Colombo Telegraph.
Efforts to attract international players to invest in Sri Lanka’s Oil and Gas exploration in the Mannar Basin have once again been gridlocked by legal challenges in the Court of Appeal. A statement noted that Sri Lanka’s efforts to attract and leverage international investment into exploration and commercialisation two blocks adding to over 5,000 square […]
The Sri Lankan Rupee (LKR) has appreciated against the US dollar (USD) today (April 26), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee appreciated against U.S. Dollar on April 26, 2024 appeared first on Sri Lanka News | Breaking News & Top Stories in Sri Lanka | ONLANKA.
Sri Lanka’s efforts to attract and leverage international investment into exploration and commercialisation of two blocks adding to over 5,000 square kilometers with potential oil and gas resources in the Mannar Basin have once again been gridlocked by legal challenges in the Court of Appeal. According to the latest developments in the CA (Writ) Application […]
[…]The post American Chaos, Modi’s Heatwave & Ranil As Common Government Candidate appeared first on Colombo Telegraph.
The Sri Lankan Rupee (LKR) has appreciated against the US dollar (USD) today (April 27), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee appreciated against U.S. Dollar on April 27, 2024 appeared first on Sri Lanka News | Breaking News & Top Stories in Sri Lanka | ONLANKA.