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Sri Lanka's central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently high inflation.The post Sri Lanka’s Central Bank to hold rates as inflation stays high appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
[…]The post IMF Bailout: Will Enforced Austerity Lead To A Fascist Government? appeared first on Colombo Telegraph.
ECONOMYNEXT –Sri Lanka’s personal income tax hikes have hit economic activity in the first quarter though despite currency stability helped businesses cut prices, Hemas Holdings, a top consumer goods group has said.As the currency stabilized, as central bank ended contradictory money and exchange policy conflicts, businesses had cut prices. Mainstream economists generally claim that price […...
[…]The post Liberalism, capitalism & The Hungry Masses: “Edible Economics” Will Need To Restrain Choices appeared first on Colombo Telegraph.
[…]The post Economics Of Recovery & Politics Of Reconciliation appeared first on Colombo Telegraph.
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 […]
Upon completion of its mission to Sri Lanka, the International Monetary Fund (IMF) review team has said that maintaining the economic reform momentum and ensuring timely implementation of the IMF-supported programme’s commitments are essential for Sri Lanka to emerge from the current economic crisis. The mission discussed recent economic developments and the implementation of the […]
The International Monetary Fund (IMF) team says that keeping up the economic reform momentum and ensuring timely implementation of the IMF-supported programme’s commitments are key for Sri Lanka to emerge from the economic crisis.The post IMF Staff concludes visit to Sri Lanka and issued official statement appeared first on ONLANKA News | Sri Lanka Latest Breaking News and Top Stories - Sri Lanka ...
The International Monetary Fund (IMF) says timely restructuring agreements between Sri Lanka and its creditors in line with the program targets, by the time of the first review, is essential to restoring debt sustainability. An IMF mission led by Messrs. Peter Breuer and Masahiro Nozaki conducted a staff visit to Colombo from May 11 to […]
The economic crisis has placed Sri Lanka among the 20 poorest countries in Asia. A report published on Insider Monkey noted that while Sri Lanka is classified as a developing country, it is currently facing an economic crisis characterized by the devaluation of its currency, increasing inflation, and a humanitarian emergency caused by a severe […]
Sinopec (600028.SS) has signed a contract to enter Sri Lanka’s retail fuel market, the President’s office said on Monday, as the crisis-hit country attempts to reduce pressure on its meagre dollar reserves. Under the new deal the Chinese firm will be given a 20-year licence to operate 150 fuel stations and will also be able […]
Sri Lanka is among three South Asian governments that increased borrowing from domestic banks to finance their record debt, and, as a result, sovereign-bank nexus increased, heightening the financial sector’s vulnerability, according to a World Bank report. The other two countries are the Maldives and Pakistan, says a WB report, titled ‘A mixed bag for […]
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 […]
[…]The post Prof. C.A. Saliya Making Research Methodology Easily Accessible To Sri Lankan Researchers appeared first on Colombo Telegraph.
ECONOMYNEXT –The main opposition SJB would fight to defeat the government’s plans to restructure domestic debt, opposition leader Sajith Premadas said, offering the opposition’s assistance in sending a strong message to the international community. Premadasa said at a meeting with representatives of the Ceylon Bank Employees’ Union on Thursday May 18 that the opposition is […]
Tourism is bouncing back after the Easter attack, Covid-19 pandemic and the aftermath of the economic stake holders are optimistic and working hard towards a better future.The General Manager of Shangri-la Hambantota Refhan Razeen welcomed 2023 with a positive note with much expectations this year. having overcome the challenges of the past years. We Sri […]
[…]The post Liberal Or Edible Economics: Global Disorder Worst In A Century appeared first on Colombo Telegraph.
The Sri Lankan Rupee (LKR) has appreciated against the US dollar (USD) today (May 16), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee appreciates against U.S. Dollar appeared first on ONLANKA News | Sri Lanka Latest Breaking News and Top Stories - Sri Lanka News.
The Sri Lankan Rupee (LKR) has appreciated against the US dollar (USD) today (May 17), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee appreciates against U.S. Dollar appeared first on ONLANKA News | Sri Lanka Latest Breaking News and Top Stories - Sri Lanka News.
[…]The post Central Banks Have A Critical Role To Play During Times Of Financial Crisis appeared first on Colombo Telegraph.
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 […]
CPC, CEB need to recover costs until end of Fund’s loan package By Rathindra Kuruwita The Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB) had to recover costs until the end of the IMF programme, Sarwat Jahan, IMF Resident Representative in Sri Lanka, told a press conference in Colombo yesterday. The IMF also wanted the […]
Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, recorded positive consolidated revenues of Rs. 26.6 Bn for Q1 2023, an increase of 2.1%, compared to the same period last year, led by robust growth at company level from SLT, demonstrating resilience and optimism in the future undeterred by the challenging environment. The […]
[…]The post Politics Of Poverty & Aswesuma appeared first on Colombo Telegraph.
[…]The post Beyond The Myth Of TINA To The IMF: The New Development Bank In The Asian 21st Century appeared first on Colombo Telegraph.
Sri Lanka President Ranil Wickremesinghe announced that Sri Lanka is establishing the world’s first international environmental university to support the global effort in addressing climate change.The post Sri Lanka President says World’s first international environmental university will be established in Sri Lanka appeared first on ONLANKA News ::. Latest Sri Lanka News with Breaking News A...
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.
[…]The post Inflation, Interest Rate & Imperialism appeared first on Colombo Telegraph.
[…]The post Domestic Debt Restructuring: Another Time Bomb Clicking Down? appeared first on Colombo Telegraph.
Sri Lanka can be put on the path to prosperity if the debt can be made sustainable by implementing the IMF-supported program properly, the Director of Asia & Pacific Department of the IMF Krishna Srinivasan says.The post Sri Lanka can be on path to prosperity if debt sustainability achieved – IMF appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.