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China’s consumer price index (CPI) fell by 0.3 per cent year on year in December, marking a third consecutive monthly decline amid fears of deflationary risks Concerns have risen that China is facing similar issues to Japan’s so-called lost decades of stagnation China’s falling consumer prices in the fourth quarter have plunged full-year inflation to […]
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 […]
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 […]
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.
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.
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.
[…]The post Sri Lanka 2023: Bouquets & Brickbats appeared first on Colombo Telegraph.
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.
Sri Lanka said on Wednesday it expects its foreign exchange reserves to rise above $4 billion this month, their highest level since the island nation plunged last year into its worst economic crisis since independence in 1948.The post Sri Lanka sees forex reserves exceeding $4 billion after fresh funding appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[An article based on the Keynote Address delivered by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, recently at the Annual Research Symposium 2023 of the University of Colombo] Introduction Inflation affects every aspect of our lives; it is a force that shapes our purchasing power, influences our financial decisions, and […]
Sri Lanka President Ranil Wickremesinghe has urged all political leaders to exhibit responsibility in their approach to the International Monetary Fund (IMF) program.The post Sri Lanka President calls for proposals from opponents of IMF program to rescue country from financial crisis appeared
[…]The post Lending In A Recession: Banks Should Do Venture Capital Financing For Startups appeared first on Colombo Telegraph.
[…]The post 2024 Election Year; The Perennial Challenge Of Cleaning The Stables For Sri Lanka! appeared first on Colombo Telegraph.
[…]The post Citizens Need A Snow White To Prod The Dwarfs In Governance & Society! appeared first on Colombo Telegraph.
[…]The post We Must Be More Engaged: Climate Change Effects Are Unlikely To Be Kind! appeared first on Colombo Telegraph.
Sri Lanka's economy grew by 1.6% in the quarter from July to September, official data showed on Friday, as the country claws its way back from its worst financial crisis in more than seven decades following a record fall in foreign exchange reserves.The post Sri Lanka’s economy returns
The United States of America has welcomed the positive completion of the International Monetary Fund’s (IMF) first review of the Extended Fund Facility (EFF) with Sri Lanka.The post United States welcomes IMF board approval for Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The second review of Sri Lanka's $2.9 billion bailout with the IMF could be completed in the first half of 2024, provided it manages to meet debt restructuring and revenue targets set under the programme, an official said on Wednesday.The post Sri Lanka’s second review of $2.9 billion IMF bailout possible in first half of 2024 – official appeared first on ONLANKA - Sri Lanka Latest Bre...
The International Monetary Fund (IMF) said its executive board cleared the first review of Sri Lanka's about $3 billion bailout on Tuesday, providing about $337 million in funds to help tackle the fallout from the country's worst financial crisis in decades.The post IMF board approves first review
[…]The post Was There A Conspiracy Behind The Easter Sunday Attacks?: A Follow-Up appeared first on Colombo Telegraph.
[…]The post New Episodes Of Sri Lanka Political Theatre appeared first on Colombo Telegraph.
Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday.The post Sri Lanka to receive about $600 million ADB funding post-IMF approval – official appeared first on ONLANKA - Sri Lanka Latest Breaking News and ...
Sri Lanka's in-principle pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday.The post IMF says Sri Lanka debt deal could help board clear first bailout review appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
A group of Sri Lanka's creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan's Jiji News reported on Wednesday, without naming a source or giving any details.The post Creditor nations likely to agree on Sri Lanka debt restructuring – report appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top S...
Sri Lanka needs $100 billion to become a net zero emitter by 2040, President Ranil Wickremesinghe said on Tuesday, as the island also attempts to build climate change resilience while navigating its worst financial crisis in decades.The post Sri Lanka needs $100 billion to become net zero emitter
SLPP leader Mahinda Rajapaksa yesterday (28) hit back at critics, claiming that a robust economy had been built under his presidency. He said the UNP-SLFP government which ruled the country during the 2015-2019 period should be held responsible for the current economic crisis. The following is the text of a statement, titled ‘the origins of […]
Sri Lanka needs $100 billion to become a net zero emitter by 2040, President Ranil Wickremesinghe said on Tuesday, as the island also attempts to build climate change resilience while navigating its worst financial crisis in decades.
[…]The post The Origins Of Sri Lanka’s Economic Crisis appeared first on Colombo Telegraph.
Legal action should be taken against individuals that the Supreme Court found guilty of triggering the country’s worst financial crisis by mishandling the economy, former president Maithripala Sirisena said. Addressing the media in Colombo, he said that none of the economic hitmen named
Budget 2024: Govt. counts on MR to deliver required votes By Shamindra Ferdinando State Finance Minister Ranjith Siyambalapitiya yesterday (21) warned that President Ranil Wickremesinghe’s economic recovery plans would be derailed and the country would again plunge into crisis if the Opposition succeeded in defeating the 2024 Budget. The Kegalle District MP asserted that even […]