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According to Reuters, the International Monetary Fund (IMF) has expressed readiness to facilitate Sri Lanka's ongoing negotiations with international bondholders.The post IMF ready to support Sri Lanka’s discussions with bondholders appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Reuters reports that Sri Lanka intends to engage with the International Monetary Fund (IMF) to determine if its recent debt restructuring proposals align with the terms of its financial aid program, according to a statement from the finance ministry on Wednesday.The post Sri Lanka consults IMF after rejecting debt restructure proposal appeared first on ONLANKA - Sri Lanka Latest Breaking News and ...
Reuters reports that Sri Lanka has turned down a restructuring plan proposed by international bondholders to address its $12 billion debt, thereby endangering crucial International Monetary Fund (IMF) aid and further delaying the resolution of its ongoing two-year debt crisis.The post Sri Lanka debt restructuring stumbles as government rejects bondholders’ proposal appeared first on ONLANKA ...
Sri Lanka has failed to strike an agreement on restructuring about US$12 billion of debt with its bondholders, the Government said on Tuesday (Apr 16). “The steering committee did not agree to extension of restricted discussions,” it said in a regulatory filing. Following talks with bondholders on the sidelines of the International Monetary Fund and […]
[…]The post Nettles Needing To Be Grasped By Future Leaders Of Sri Lanka appeared first on Colombo Telegraph.
A statement by academics of the university system We are in the midst of an existentially threatening economic crisis. With an ever-increasing debt burden and low economic prospects, we continue to grapple with uncertain economic futures and related social and political distresses. As university
[…]The post The Impact Of The Next Election On The Economic Reforms appeared first on Colombo Telegraph.
860,000. That’s the number of Pakistanis who left their country in 2023, and the trend of departing from Pakistan is likely to continue this year. The number is the highest in almost a decade. The previous year almost 800,000 professionals left Pakistan. The figure was released by Pakistan’s Bureau of Emigration and Overseas Employment (BEOE). […]
[…]The post Recovery, Growth & Toxic Imports appeared first on Colombo Telegraph.
[…]The post Undemocratic Rule Of Modi’s India Is A Security Threat To South Asia appeared first on Colombo Telegraph.
The Asian Development Bank’s (ADB) annual flagship economic publication, the Asian Development Outlook (ADO) for April 2024, forecasts moderate growth in Sri Lanka’s economy of 1.9% in 2024 and 2.5% in 2025, following two consecutive years of contraction.The post Sri Lanka shows signs of recovery but must maintain reform momentum: ADB appeared first on ONLANKA - Sri Lanka Latest Breaking News and ...
The Asian Development Bank (ADB) says Sri Lanka must continue to implement reforms to address the underlying causes of the economic crisis and lay the foundation for fostering sustainable recovery. The ADB’s annual flagship economic publication, the Asian Development Outlook (ADO) April 2024
The ban on vehicle imports to Sri Lanka is likely to be lifted in 2025, State Minister of Finance Ranjith Siyambalapitiya, State Minister of Finance Ranjith Siyambalapitiya said. The ban was imposed during the economic crisis to prevent Sri Lanka’s foreign reserves from depleting. The ban
By Lasanda Kurukulasuriya Since their visit to India at the invitation of the Indian government in February, leaders of the Janatha Vimukthi Peramuna-led National People’s Power coalition have become the poster-boys and girls of a complicated Sri Lankan political landscape, in a pre-election period. The once-marginal parliamentary group’s leader is now viewed as a potential […]
President Ranil Wickremesinghe participating at the “Let’s Start with Me” Kandy District Youth Conference held at the President’s House, Kandy on Sunday (07) stated that the legislation pertaining to the establishment of the new economy will be presented to Parliament in May and approved by June. Elaborating further, the President said: “If we fail to […]
[…]The post Palestine & Ukraine: Two More Nails In Imperialism’s Coffin? appeared first on Colombo Telegraph.
Colombo has demonstrated its own brand of strategic autonomy on issues from Russia’s war in Ukraine to China’s global footprint By Michael Kugelman Most South Asian governments tend to have nonaligned foreign policies, balancing their relations with major powers. This maximizes their diplomatic flexibility and ability to operate independently on the world stage, also known as […]
Mr. Rajith Keerthi Tennakoon, President Director General of Community Affairs, stated that between President Ranil Wickremesinghe’s assumption of office and February 2024, the Government of Sri Lanka has settled a total of US$ 1909.7 million in foreign debt and interest payments.The post Sri Lanka settles $1.9 Billion in Foreign Debt and Interest Payments: Official Statement appeared first on ONLA...
By N Sathiya Moorthy It is inevitable that in the heat of an electoral battle, neighbours get mentioned, if not hurt. It is election time in India, to be followed by one or two in Sri Lanka – for the presidency and Parliament, though which would come first is known only to Mr God and President […]
[…]The post Monk’s Imprisonment: Aragalaya Victory No. 2 appeared first on Colombo Telegraph.
[…]The post Brahmins Demand A Debate On Debt appeared first on Colombo Telegraph.
[…]The post Katchatheevu Crisis – Seal The Deal Mr. Modi appeared first on Colombo Telegraph.
[…]The post Will AKD Make The Cut? appeared first on Colombo Telegraph.
Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardena, has stressed that any alteration, even as small as one-tenth, to the on-going government program spearheaded by President Ranil Wickremesinghe could pose a significant threat to the stability of the country once more. Despite numerous reports indicating an increase in poverty among the country’s most vulnerable, the minister ...
By Shamindra Ferdinando Against the backdrop of Speaker Mahinda Yapa Abeywardena’s quite belated (but better late than never) public confirmation of external interventions in Aragalaya, that led to the overthrow of President Gotabaya Rajapaksa’s government in mid-July 2022, former cashiered Flying Officer Keerthi Ratnayake, with a never-say-die attitude even when odds are overwhelmingly stacked ag...
Speaker Mahinda Yapa Abeywardana dismissed a conspiracy theory linked to the mass protests staged in Sri Lanka in 2022 to oust then President Gotabaya Rajapaksa. MP Wimal Weerawansa alleged that there was a foreign hand in the ‘Aragalaya’’ protests and called for it to be investigated. He told the Speaker that Parliament must hold a […]
[…]The post Conundrum Of Elections & IMF Programme appeared first on Colombo Telegraph.
By Jehan Perera Tracing history and going back to the colonial era, President Ranil Wickremesinghe has said that despite the adverse impact of world wars and internal conflicts, Sri Lanka has steadfastly upheld its democratic value of ensuring the functioning of both the government and the opposition without interruption. The president was addressing members of […]
By Shamindra Ferdinando Samagi Jana Balawegaya (SJB) parliamentarian Kavinda Jayawardena yesterday (31) said that the ruling Sri Lanka Podujana Peramuna (SLPP) should accept the responsibility for creating conditions for public protests that led to the overthrowing of President Gotabaya Rajapaksa. The Gampaha District MP was responding to Speaker Mahinda Yapa Abeywardena’s declaration that powerfu...
[…]The post Politics Behind Economic Recovery appeared first on Colombo Telegraph.