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The International Monetary Fund (IMF) has noted progress in Sri Lanka’s economic reforms program. An IMF mission team led by Messrs. Peter Breuer and Masahiro Nozaki visited Colombo from June 20 to 30, 2022 to discuss IMF support for Sri Lanka and the authorities’ comprehensive economic reform program. Ms. Anne-Marie Gulde-Wolf, Deputy Director of the […]
Sri Lanka has yet to solve its dollar shortage crisis.
The prime minister’s office said Thursday June 30 afternoon that the remaining 20 million dollars was from Litro.
No staff level agreement yet, creditor assurances needed
Worst crisis in modern times
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Isolated and neglected, Pakistan’s Gilgit-Baltistan, the northern-most part of Kashmir under its control, could become a future battle-ground for the world powers to compete. For one, it borders China and local politicians in GB, among them, Chairman of Karakoram National Movement, Mumtaz Nagri has expressed fear that Pakistan may cede GB to China on lease […]
By Anjana Pasricha NEW DELHI — In Colombo, Sri Lanka’s capital, a sprawling port city showcased as a financial hub to rival Dubai is being set up on 269 hectares of land dredged from the sea. It is the latest of the huge Chinese-funded infrastructure projects in the island country that include a port and […]
Dhammika Perera has been backing successive government and held posts in some while running his businesses
The United Kingdom (UK) says it recognises the economic challenges that Sri Lanka is facing. UK Foreign Office Minister Vicky Ford said the UK is closely monitoring the economic situation in Sri Lanka, including foreign exchange data reported by Central Bank of Sri Lanka and Sri Lankan authorities. In a written response to the UK […]
Money for medicines allocated
The main stock index has fallen 4.4$% in the last two sessions.
[…]The post Schizophrenia In The Political Mind Of Sri Lanka appeared first on Colombo Telegraph.
Agriculture contracted 6.8 percent, industry shrank 4.7 percent but service grew 0.7 percent
After June 28, 2022, aircraft will have to carry their return fuel according to the CA notice to airmen (NOTAM)
Cabinet of ministers had given the approval to hike railway fares to meet the rising costs
The Government has decided to open the fuel import and retail sales market to companies from oil producing nations. Cabinet approval has been granted for the move, Energy Minister Kanchana Wijesekera said today. He said the companies will be selected on the ability to import fuel and operate without Forex requirements from the Central Bank […]
Selected firms will have to import fuel on credit and runs a currency risk
Oil agents asks Central Bank, Treasury to deal directly with principals
The Bar Association of Sri Lanka (BASL) has accused the authorities of misleading the public on the fuel supply. BASL noted that the Minister of Power and Energy held a press conference on 26th June 2022 and the information revealed at this press conference made it clear that the public have been kept in the […]
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[…]The post Child’s Guide To Debt Restructuring: Not A Cakewalk But A Task Entailing Hard Work appeared first on Colombo Telegraph.
The last shipment under Indian credit line arrived in on June 16. There has been no shipment since then
Companies with more than 60-pct dollar revenues will have to pay bills in dollars
Minister Gunawardena requested the public to limit nonessential travel and use fuel sparingly.
“Even today fewer than 10 per cent of buses are running. Drivers are on strike because they have no fuel."
Monetary meltdown worsens as money printed to keep rates down and pay state worker salaries
Sri Lanka unable to import fuel due to broken soft-peg
Promises inputs amid soft-peg crisis
Oil suppliers wary to supply Sri Lanka after recent downgrades