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By Easwaran Rutnam Sri Lanka must reach an agreement with its creditors before the International Monitoring Fund (IMF) can step in and provide financial assistance, the IMF said. Responding to questions during a Twitter Space discussion last evening, IMF Chief Economist Pierre-Olivier Gourinchas said that the IMF is concerned about the situation in Sri Lanka. […]
Hambantota in southern Sri Lanka housed ousted President Gotabaya Rajapaksa following the recent crisis, until he was forced to flee the country entirely. That continues a trend of the city, and especially its strategic deep-sea port, being in the news for all the wrong reasons. In 2017, when Sri Lanka found itself struggling to make […]
Sri Lanka is struggling to find dollars to import fuel
Blindfolding the statue: By Laleen Jayamanne “I have never found anything to excite the people in quite the way this language issue does”–– Prime Minister SWRD Bandaranaike to a journalist. If true, this observation attributed to Prime Minister SWRD Bandaranaike, is quite chilling in its cynicism. ‘Excitement’ is a political emotion here and SWRD appears to […]
The Narendra Modi government has called for an all-party meeting on Tuesday evening to discuss the crucial issue of the Sri Lanka crisis.The post Indian government calls an all-party meet on Sri Lanka crisis appeared first on ONLANKA News - Sri Lanka News - Latest News Sri Lanka - Breaking News from Sri Lanka.
Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF), a milestone that would pave the way for the release of an additional $1.2 billion in loans and unlock more funding, news agencies reported. The IMF will also consider an extension of the facility to end-June 2023, it said in a statement. The […]
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 […]
[…]The post Child’s Guide To Debt Restructuring: Not A Cakewalk But A Task Entailing Hard Work appeared first on Colombo Telegraph.
[…]The post Why I Don’t Support The Aragalaya appeared first on Colombo Telegraph.
[…]The post Crisis Deepens Without Rescue Plan appeared first on Colombo Telegraph.
Views of Milton Friedman, Robert Mundel and how John Greenwood and Alan Walters set up the Hong Kong currency board
Sri Lanka’s international creditors have formed a group to start debt restructuring talks with the embattled South Asian country. The group has hired heavyweight legal firm White & Case while Colombo will be represented by Clifford Chance. Amundi Asset Management, BlackRock, HBK Capital Management, Morgan Stanley Investment Management and T. Rowe Price Associates are among members of the [R...
Sri Lanka’s fuel stocks will last for about five more days, its power and energy minister said on Thursday (Jun 16), as the island nation awaits official confirmation from the Indian government for a new US$500 million credit line for fuel. The country of 22 million people is caught in its worst financial crisis in […]
[…]The post The National List & The House Of Duds appeared first on Colombo Telegraph.
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed Prime Minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]
Prime Minister Ranil Wickremesinghe has warned that the next three weeks will be tough for Sri Lanka. Speaking in Parliament today, the Prime Minister said that the public must use fuel and gas as carefully as possible. He also said that unessential travel should be limited as much as possible. “Therefore, I urge all citizens […]
“Japan is our long time friend; a nation that has helped our country greatly. But they are now unhappy with us."
[…]The post Sri Lanka’s Economic, Political & Human Crisis appeared first on Colombo Telegraph.
[…]The post RW’s Tax Hike Welcome But Much More To Be Done To Come Out Of The Crisis appeared first on Colombo Telegraph.
[…]The post Dollar Crunch & Expanding Horizons appeared first on Colombo Telegraph.
India extended an additional USD 500 million credit line to help Sri Lanka import fuel as the country has been struggling to pay for imports after its foreign exchange reserves plummeted sharply in...Click on the headline to read the full story
[…]The post Could A ‘National Government’ Resolve The Crisis? appeared first on Colombo Telegraph.
[…]The post Causes Of Economic Crisis In Sri Lanka & Lessons For A New Age appeared first on Colombo Telegraph.
Delays is fiscal reforms can reduce the recovery rate
[…]The post A Child’s Guide To Currency Boards: Why Did Ceylon Give Up The Currency Board, While Singapore Didn’t? appeared first on Colombo Telegraph.
Prime Minister Ranil Wickremesinghe today painted a gloomy picture for Sri Lanka saying the country will face an even more difficult time period in the short term. In an address to the nation today, the Prime Minister said that there are petrol stocks only for a single day, there is a possibility that the daily power […]
[…]The post The Story Of The Occasional Cinemagoer: Part II appeared first on Colombo Telegraph.
Sri Lanka has been facing a severe economic crisis since the beginning of 2021 and was trying to cushion the effect of the financial instability by seeking help from almost all friendly countries. Sri Lanka sought the intervention of the good offices of the political hierarchy of Bangladesh and Pakistan, apart from India, for much-needed […]
[…] The post Lack Of Accountability, Ability & Credibility appeared first on Colombo Telegraph.
[…] The post An Exit Strategy From The Crisis: Agenda For Shared Revival Of Sri Lanka appeared first on Colombo Telegraph.