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- onlanka.com - Category : Breaking News - Relavancy : 0.16308235

Sri Lanka has called for proposals from dealer managers to support its restructuring of some $12 billion of international bonds, the Finance Ministry said on Thursday, in a fresh sign that the island nation is closing in on finalizing its debt rework.The post Sri Lanka calls for debt-restructuring proposals from dealer managers appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Sto...

- colombogazette.com - Category : Breaking News - Relavancy : 0.16308235

Sri Lanka has called for proposals from dealer managers to support its restructuring of some $12 billion of international bonds, the Finance Ministry said on Thursday, in a fresh sign that the island nation is closing in on finalizing its debt rework. Sri Lanka defaulted on its foreign debt in May 2022 as the economy […]

- colombogazette.com - Category : Breaking News - Relavancy : 0.6147444

Sri Lanka’s cabinet has approved increasing the minimum wage by 40%, a top official said on Tuesday, to support workers struggling with living costs as the economy slowly shakes off its worst financial crisis in decades, helped by an IMF bailout. Sri Lanka’s economy collapsed in early 2022

- colombogazette.com - Category : Breaking News - Relavancy : 0.16308235

McDonald’s may decide to return to Sri Lanka with a new franchisee after the company ended an agreement with its local partner, the Reuters news agency quoted an attorney for McDonald’s as saying. McDonald’s has ended an agreement with its local partner in Sri Lanka and all 12 outlets in the country have been closed, […]

- colombogazette.com - Category : Breaking News - Relavancy : 0.16308235

McDonald’s may decide to return to Sri Lanka with a new franchisee after the company ended an agreement with its local partner, the Reuters news agency quoted an attorney for McDonald’s as saying. McDonald’s has ended an agreement with its local partner in Sri Lanka and all 12 outlets in the country have been closed, […]

- island.lk - Category : Breaking News - Relavancy : 0.10192647

… corruption cited as one of the three issues faced by the country Japanese Ambassador Hideaki Mizukoshi Thursday (21) urged Sri Lanka to turn the continuing economic, political and social crisis into an opportunity to achieve success. The Ambassador said that the country should take advantage of the continuing external pressure to adopt reforms, build-up […]

- onlanka.com - Category : Breaking News - Relavancy : 0.14269705

Global investors and Sri Lankan officials expect to start negotiations aimed at restructuring $12 billion in defaulted global bonds next week, Bloomberg News reported on Thursday.The post Sri Lanka to start restructuring talks with investors next week, Bloomberg News reports appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- colombogazette.com - Category : Breaking News - Relavancy : 0.122311756

Global investors and Sri Lankan officials expect to start negotiations aimed at restructuring $12 billion in defaulted global bonds next week, Bloomberg News reported on Thursday. A steering committee, comprising of bondholders, will begin talks as they weigh a proposal from the government to rework the overseas debt that has been in default since 2022, […]

- onlanka.com - Category : Breaking News - Relavancy : 0.14269705

Sri Lanka has decided to stop issuing free long-term visas to Russian and Ukrainian nationals who have lived in the Indian Ocean island nation for the past two years, a government official said on Thursday.The post Sri Lanka halts free visas for long-staying Russian, Ukrainian nationals appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- onlanka.com - Category : Breaking News - Relavancy : 0.14269705

A team from the International Monetary Fund (IMF) is set to arrive in Sri Lanka for the second review of the Extended Fund Facility (EFF) program, which is scheduled to begin on March 07, 2024, according to State Minister of Finance Shehan Semasinghe.The post IMF Team to conduct second review of Sri Lanka’s EFF program in March 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News ...

- onlanka.com - Category : Breaking News - Relavancy : 0.14269705

Senior U.S. diplomat Richard Verma on Friday met Sri Lankan President Ranil Wickremesinghe and Foreign Minister Ali Sabry in Colombo, and discussed Sri Lanka's economic recovery and progress on its IMF program, the U.S. State Department said.The post Senior U.S. official discusses Sri Lanka’s IMF program in Colombo appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- adaderana.lk - Category : Breaking News - Relavancy : 0.7376933

Sri Lanka s inflation is expected to return to the government s 5% target starting from the last two quarters of the year, a Central Bank of Sri Lanka (CBSL) official said on Wednesday, as the economy stabilises from a crippling financial crisis.

- onlanka.com - Category : Breaking News - Relavancy : 0.14269705

Sri Lanka's economy is expected to keep growing in 2024 and gradually reach its potential over the medium term, according to the Central Bank's latest report on monetary policy.The post Central Bank of Sri Lanka says annual economic growth expected to turn positive in 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- adaderana.lk - Category : Breaking News - Relavancy : 0.7376933

Sri Lanka s spike in inflation is expected to be short-lived and will return to the targeted 5% in the medium term, a monetary policy report released by the central bank said on Thursday as the island nation s economy stabilises from a crippling financial crisis.

- island.lk - Category : Breaking News - Relavancy : 0.071348526

By DR. C. S. WEERARATNA A trade deficit typically occurs when a country does not produce enough goods for its citizens. When production cannot meet demand as in Sri Lanka, there is a need to import thereby widening the trade deficit.  A persistent trade deficit is detrimental to a country’s economy because it is financed […]

- onlanka.com - Category : Breaking News - Relavancy : 0.16308235

Sri Lanka has approved gradually lifting some limits on converting rupees to foreign exchange for outward remittances and the new directions will be presented to parliament for approval, cabinet spokesperson Bandula Gunawardane said on Tuesday.The post Sri Lanka approves lifting some limits on rupee conversion for outward remittances appeared first on ONLANKA - Sri Lanka Latest Breaking News and T...

- onlanka.com - Category : Breaking News - Relavancy : 0.122311756

Sri Lanka expects to attract about US$5 billion in foreign funds in the next two years once it is able to finalise the restructuring of its overseas debt, the country’s foreign minister said on Monday (February 5).The post Sri Lanka eyes US$5 billion in foreign funds after debt restructure appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- colombogazette.com - Category : Breaking News - Relavancy : 0.16308235

Sri Lanka expects to attract about US$5 billion in foreign funds in the next two years once it is able to finalise the restructuring of its overseas debt, the country’s foreign minister said on Monday (Feb 5). The nation defaulted on its overseas debt in May, 2022 after a severe shortage of foreign exchange reserves […]

- island.lk - Category : Breaking News - Relavancy : 0.6147444

By Hiran H.Senewiratne A top local hotel chain owner who faced an enormous financial crisis during the Covid 19 lock down period and left Sri Lanka to find funds to maintain his local hotels, has ended up in Australia where he has acquired a restaurant next to the Brisbane Cricket Grounds (Gabba

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- island.lk - Category : Breaking News - Relavancy : 0.071348526

In the global political landscape of 2024, Reuters provides a comprehensive overview of key elections shaping the economic and geopolitical landscape across diverse regions. From Europe, where the rise of Eurosceptic far-right parties poses challenges to the European Union’s integration, to Russia, where Vladimir Putin is set for another term amid heightened tensions with the […]

- onlanka.com - Category : Breaking News - Relavancy : 0.122311756

Sri Lanka's central bank kept interest rates steady on Tuesday, in line with market expectations, forgoing a rate cut as a new tax threatened upward pressure on expenses and fuelled concerns about inflation.The post Sri Lanka central bank keeps policy rates unchanged to tame inflation appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- onlanka.com - Category : Breaking News - Relavancy : 0.2018041

Sri Lanka's consumer price inflation rate jumped to 4.2% year-on-year in December driven by rising food prices, official data showed on Monday, although it remains well below record high levels seen at the height of the country's financial crisis.The post Rising food prices drive Sri Lanka inflation up to 4.2% in December appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- island.lk - Category : Breaking News - Relavancy : 0.061155878

By Prof. Amarasiri de Silva Sri Lanka, renowned for its rich cultural heritage and diverse landscapes, is grappling with an unprecedented macroeconomic crisis. This crisis has given rise to acute shortages and sharp increases in the prices of essential products, creating a complex web of challenges. At the heart of this multifaceted crisis lies a […]

- island.lk - Category : Breaking News - Relavancy : 0.10090205

by Dr Amali Wedagedara In Sri Lanka, public policy lost in the neoliberal haze treats the market as a cure for all ills. Not only is the market omnipresent, but it is also omniscient and omnipotent. The charm of the ‘market’ that research and advocacy lobbyists are creating is so alluring that only a few […]

- island.lk - Category : Breaking News - Relavancy : 0.08154117

By M. Rodwan Abouharb Associate Professor in International Relations, UCL and Bernhard Reinsberg Reader in Politics, University of Glasgow Sri Lanka received a bailout from the International Monetary Fund (IMF) in March amid soaring inflation, debt and a sovereign default. In exchange for US$3 billion (£2.4 billion), the government committed to spending cuts and tax […]

- onlanka.com - Category : Breaking News - Relavancy : 0.16308235

Sri Lanka sent hundreds of soldiers to key hospitals to help look after patients on Thursday, as hospital orderlies and administrative staff launched a one-day strike nationwide over allowances.The post Sri Lankan soldiers sent to key hospitals as health workers strike appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- onlanka.com - Category : Breaking News - Relavancy : 0.14269705

Sri Lanka's central bank is considering moving towards a single policy rate mechanism to ensure better signaling of its monetary policy stance, Governor P. Nandalal Weerasinghe said on Wednesday.The post Sri Lanka central bank to consider a single policy rate mechanism appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- onlanka.com - Category : Breaking News - Relavancy : 0.14269705

Japan restated the importance for early completion of signing of a Memorandum of Understanding (MoU) between Sri Lanka and creditor nations on debt restructuring, after an agreement was reached in principle late last year.The post Japan urges early signing of debt MoU between Sri Lanka and creditors appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- colombotelegraph.com - Category : Breaking News - Relavancy : 0.08154117

[…]The post Sri Lanka 2023: Bouquets & Brickbats appeared first on Colombo Telegraph.

- onlanka.com - Category : Breaking News - Relavancy : 0.122311756

India’s ban on the export of onions has driven up prices of the vegetable for Asian buyers, who are scrambling for cheaper alternatives, particularly as New Delhi is unlikely to lift the curbs before general elections next year.The post Asia feels the sting of India’s onion export ban appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

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