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- island.lk - Category : Breaking News - Relavancy : 0.23108593

The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9bn bailout package, due to a potential shortfall in government revenue generation, Al Jazeera has reported, quoting the lender. Speaking after a two-week visit to the country, IMF delegation head Peter Breuer on Wednesday said a […]

- onlanka.com - Category : Breaking News - Relavancy : 0.19807366

Sri Lanka’s Minister of State for Tourism Diana Gamage announced plans to launch promotional campaigns aimed at attracting 1.5 million foreign tourists to Sri Lanka by the year’s end.The post Sri Lanka to launch campaigns to attract 1.5 million tourists – proposal to create non-sleeping cities appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- colombogazette.com - Category : Breaking News - Relavancy : 0.23108593

Sri Lanka is to create cities that never sleep by revising certain regulations in an attempt to boost tourism. Minister of State for Tourism Diana Gamage said that the country has plans to launch promotional campaigns aimed at attracting 1.5 million foreign tourists to Sri Lanka by the end of this year. She emphasized the […]

- colombogazette.com - Category : Breaking News - Relavancy : 0.23108593

The Chinese spy ship ‘Shi Yan 6’ has entered the Malacca strait, bound for Colombo, amid confusion over whether Sri Lanka has granted access for the spy vessel to dock at Colombo. According to reports last month, the Sri Lankan Defence Ministry has granted Shi Yan 6 access to dock at Colombo port. However, the Sri Lankan […]

- island.lk - Category : Breaking News - Relavancy : 0.2640982

The country’s economy has contracted at the rate of 3.1% in the second quarter of 2023, according to recent data by the Census and Statistics Department. The Department in its estimated Gross Domestic Product (GDP) for the second quarter of 2023, on Friday said that this economic downturn marked an improvement from the alarming 11.5% […]

- island.lk - Category : Breaking News - Relavancy : 0.23108593

Friday 15th September, 2023 Nobody dared trifle with Gotabaya Rajapaksa when he was the Defence Secretary. It was jokingly said then that he exercised 50% of President Mahinda Rjapaksa’s executive powers! Many a true word is said to be spoken in jest. Even senior Cabinet ministers used to bow and scrape before him. Never did […]

- onlanka.com - Category : Breaking News - Relavancy : 0.19807366

The first review of the International Monetary Fund’s Extended Fund Facility (EFF) for Sri Lanka is slated to commence today (September 14).The post First review of IMF’s Extended Fund Facility for Sri Lanka to commence today appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- onlanka.com - Category : Breaking News - Relavancy : 0.23108593

Sri Lanka has accepted offers to exchange about $10 billion worth of defaulted local debt for new bonds, the Finance Ministry said on Tuesday, taking it a step towards meeting debt restructuring requirements ahead of an International Monetary Fund (IMF) review.The post Sri Lanka announces $10 billion local bond swap deal ahead of IMF visit appeared first on ONLANKA - Sri Lanka Latest Breaking News...

- colombogazette.com - Category : Breaking News - Relavancy : 0.2640982

Sri Lanka has repaid another US$100 million of the $200 million loan it took from Bangladesh in a currency swap agreement two years ago. “Sri Lanka has paid back $100 million to us on Thursday (31 August). Now they are expected to return the remaining $50 million in due course,” said Bangladesh Bank (BB) Spokesperson […]

- onlanka.com - Category : Breaking News - Relavancy : 0.23108593

Sinopec Energy Lanka, a Beijing-based leading international petroleum company, has officially commenced its business operations in Sri Lanka by starting fuel supply at its first filling station in Sri Lanka established in Mattegoda, Colombo from yesterday (August 30).The post Sinopec officially begins operations in Sri Lanka with Rs. 3 discount offer appeared first on ONLANKA - Sri Lanka Latest Br...

- onlanka.com - Category : Breaking News - Relavancy : 0.16506137

H.J.M Seneviratne, 63, slices through yellowed paddy stems dried out by a drought that has destroyed over 95% of his crop and is threatening crisis-hit Sri Lanka's summer rice harvest.The post Drought dents Sri Lanka’s economic hopes, farmers’ livelihood appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- colombogazette.com - Category : Breaking News - Relavancy : 0.28011844

KARACHI: Pakistan’s total debt and liabilities rose by 29 percent to Rs77.1 trillion in the fiscal year that ended on June 30, the central bank said on Wednesday, as the government borrowed heavily to finance its spending requirements. At the end of the last fiscal year, the country’s debt and liabilities, including domestic and foreign, […]

- colombogazette.com - Category : Breaking News - Relavancy : 0.32680485

With the provision of additional $2 billion time deposits from the Kingdom of Saudi Arabia (KSA) and $508 million as a guaranteed loan from China for Pakistan Air Force to inject “Dragon” multirole fighter aircraft Pakistan’s total foreign loans jumped up to $2.8 billion during the first month (July 2023) of the current fiscal year. […]

- colombogazette.com - Category : Breaking News - Relavancy : 0.23108593

Islamabad [Pakistan], August 17 (ANI): Pakistan’s total debt and liabilities have risen by 29 per cent to Rs 56.21 trillion in the fiscal year that ended on June 30, the country’s central bank said on Wednesday. This comes as the government borrowed heavily to finance its spending requirements, as per Dawn. Pakistan’s debt and liabilities […]

- colombogazette.com - Category : Breaking News - Relavancy : 0.2640982

Sri Lanka’s largest bilateral creditor, China, has assured the island nation its help in effectively addressing the debt challenges as it has to finalise the external and domestic debt restructuring of a whopping USD 41 billion by September before the IMF’s first review. The International Monetary Fund (IMF) is set to conduct its first review […]

- onlanka.com - Category : Breaking News - Relavancy : 0.23108593

Chinese oil major Sinopec expects to start operations in Sri Lanka on Sept. 20 and will be allowed to sell fuel for less than the maximum retail price set by the government, Sri Lanka's power minister said on Tuesday.The post Sri Lanka says China’s Sinopec to start operations September 20 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- onlanka.com - Category : Breaking News - Relavancy : 0.23108593

The IMF will conduct the first review of the $2.9 billion bailout to Sri Lanka from September 11-19, state minister of finance Ranjith Siyambalapitiya said on Saturday and declared that the country has successfully fulfilled the nine conditions set by the global lender.The post IMF to conduct bailout review for Sri Lanka in September appeared first on ONLANKA - Sri Lanka Latest Breaking News and T...

- onlanka.com - Category : Breaking News - Relavancy : 0.2640982

The Government of Sri Lanka is going to relax import restrictions imposed for lorries, trucks and buses used for public transport.The post Sri Lanka to relax import restrictions imposed on vehicles used for public transport appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- colombogazette.com - Category : Breaking News - Relavancy : 0.19807366

Sri Lanka said that India will be one of the closest countries to enhance investments in Sri Lanka given its proximity to the Island nation and that it wants to have a very conducive environment for investors to come and invest. In an interaction with PTI, Sri Lankan Finance Minister Shehan Semasinghe also sounded optimistic […]

- colombogazette.com - Category : Breaking News - Relavancy : 0.19807366

Islamabad [Pakistan], July 19 (ANI): Beyond the upcoming election cycle and the current standby agreement, Pakistan needs another International Monetary Fund (IMF) program and assistance from other multilateral lenders, the lender stated in a report released on Tuesday, according to Dawn. “Resolving Pakistan’s structural challenges, including long-term BOP [balance of payments] pressures, will req...

- onlanka.com - Category : Breaking News - Relavancy : 0.19807366

Expressing his gratitude to “trustworthy friend” India for saving Sri Lanka and preventing a “bloodbath” during its unprecedented economic crisis last year, Parliament Speaker Mahinda Yapa Abeywardena has said that not a single nation has extended that kind of assistance to Colombo as done by New Delhi.The post Sri Lanka’s Speaker thanks India, Indian Prime Minister Modi for help during fina...

- onlanka.com - Category : Breaking News - Relavancy : 0.16506137

The man charged with clawing Sri Lanka out of bankruptcy says he had warned about economic calamity years before it hit and was pressed into retirement for his troubles.The post ‘No second chance’ to save Sri Lanka, central banker warns appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

- onlanka.com - Category : Breaking News - Relavancy : 0.19807366

Sri Lankan tea prices that had been piping hot have cooled off as production in the world’s fourth-largest tea grower begins to recover.The post Sri Lanka tea prices dip 40% from record high on production rebound appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

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- colombogazette.com - Category : Breaking News - Relavancy : 0.2640982

Debt-laden Sri Lanka will unveil its domestic debt restructuring strategy this week, central bank chief P Nandalal Weerasinghe said on Sunday (Jun 25), as the island navigates its worst financial crisis in decades. Sri Lanka will also likely obtain Cabinet and parliamentary approval for the debt restructuring strategy this week, Weerasinghe told local TV channels […]

- onlanka.com - Category : Breaking News - Relavancy : 0.19807366

Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran next month appeared first on ONLANKA - Latest Breaking News updates on Sri Lanka.

- island.lk - Category : Breaking News - Relavancy : 0.32345292

By Prabhat Patnaik After Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis. It has asked for a $4.5 billion loan from the IMF, apart from $1 billion from the World Bank and $2.5-3 billion from multilateral agencies and donor nations. Though the […]

- colombogazette.com - Category : Breaking News - Relavancy : 0.23108593

The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March. The economy of the country of 22 million is expected to shrink […]

- onlanka.com - Category : Breaking News - Relavancy : 0.23108593

The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March.The post World Bank set to approve $700 Million for Sri Lanka next week appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - S...

- itnnews.lk - Category : Sinhala - Relavancy : 0.2640982

ලබන සතියේදී ශ්රී ලංකාව වෙනුවෙන් ඩොලර් මිලියන 700ක අරමුදලක් ලෝක බැංකුව විසින් අනුමත කිරීමට නියමිත බව රොයිටර්ස් පුවත් සේවය වාර්තා කර තිබෙනවා.   “COLOMBO, June 19 (Reuters) – The WorldThe post ලෝක බැංකුවෙන් ඩොලර් මිලියන 700ක් ? appeared first on ITN News.

- colombogazette.com - Category : Breaking News - Relavancy : 0.16506137

Pakistan Finance Minister Ishaq Dar claimed that geopolitics was behind a stalled loan programme as global institutions wanted Pakistan to default like Sri Lanka and then enter negotiations. Testifying before the Senate’s standing committee on finance, Ishaq Dar stressed that the country would meet its obligations with or without the IMF’s bailout package. He said […]

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