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The Government and the Central Bank of Sri Lanka (CBSL) have been implementing several measures to ease the burden of the current economic hardships on the people. One major factor that is contributing to the current crisis and the resultant hardships is the lack of foreign exchange liquidity in the banking system. Such shortage of […]
Sri Lanka has resumed technical discussions with the International Monetary Fund on a potential bailout after the new government took office, according to a report by Reuters.Discussions with the multilateral lender started in April under former President Gotabaya Rajapaksa. The Sri Lankan
Sri Lanka's new president Ranil Wickremesinghe has formally invited MPs to join an all-party unity government to revive the bankrupt economy by undertaking painful reforms, his office said Sunday.The post Sri Lanka president seeks unity government to save economy appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
We need to only remind ourselves of what happened to Greece and China (KMT) - D S Sennayake
Sri Lanka’s president said Saturday that an agreement with the International Monetary Fund to help pull the bankrupt nation out of its economic crisis has been pushed back to September because of unrest over the past weeks.The post Sri Lanka leader says IMF agreement pushed back after unrest
AL Jazeera) Some Asian central banks must rapidly raise interest rates to prevent an “upward spiral” in inflation as the war in Ukraine drives surging fuel and food prices, an International Monetary Fund (IMF) official has said. While inflation in Asia remains “moderate”
President Ranil Wickremesinghe says an agreement with the International Monetary Fund (IMF) will not fully resolve Sri Lanka’s issues. He said that Sri Lanka needs to look at ways of paying back its loans. Speaking in Kandy today, the President said that the protests had delayed
The Ministry of Finance, in an update on the discussion with the International Monetary Fund (IMF), said that Sri Lankan authorities have substantial progress has been made during the talks on the discal, monetary and structural reforms necessary to stabilize the country s economy.
Sri Lanka has resumed technical discussions with the International Monetary Fund on a potential bailout after a new government took office, the finance ministry said on Friday.The post Sri Lanka resumes bailout discussions with IMF, finance ministry says appeared first on ONLANKA News :. Sri Lanka
The Finance Ministry said protests and changes in administration delayed the process
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state's government seeks a financing loan from the Washington-based fund.The post IMF says Sri Lanka needs to talk with China about debt restructuring
The head of the U.S. government aid agency called on China on Wednesday to help Sri Lanka and other nations that had borrowed heavily from Beijing with debt restructuring, not just with lines of credit and emergency loans.The post USAID chief calls on China to restructure Sri Lanka’s debt appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
Bangladesh has formally requested for a USD 4.5 bn loan from Washington-based multilateral lender International Monetary Fund (IMF) to tackle the ongoing financial crisis in the country, the country’s media reported.Bangladesh has asked for the loan from the IMF in view of rapidly declining foreign
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 […]
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state’s government seeks a financing loan from the Washington-based fund. “China is a big creditor, and Sri Lanka has to engage proactively
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state s government seeks a financing loan from the Washington-based fund.
Bangladesh has sought a $4.5 billion loan from the International Monetary Fund, the Daily Star newspaper reported on Tuesday, joining South Asian neighbours Pakistan and Sri Lanka in seeking help to cope with mounting pressure on their economies.
After helping Sri Lanka with an unprecedented assistance of around $4 billion since January as the country plunged into a deep economic crisis, India is now planning to invest heavily in newer sectors through both private and public firms there, Gopal Baglay, high commissioner of India to Sri Lanka, told ThePrint in an interview.The post Long-term investments in Sri Lanka are India’s plan to...
Global un-employment set to rise
Newly-appointed Foreign Minister Ali Sabry, PC, has said that he looked forward to delivering on the mandate of the Ministry to steer forward Sri Lanka’s foreign relations, taking the domestic compulsions, too, into consideration. Sabry commended the outgoing Minister Prof G.L. Peiris for his leadership provided to the Ministry of Foreign Affairs. President Ranil Wickremesinghe […]
By Sanath Nanayakkare There is still possibility for Sri Lanka to arrive at a staff level agreement with the International Monetary Fund (IMF) by August 2022 to qualify for an extended fund facility, but the new government will need to demonstrate its ability to implement the required policies
The government defaulted an interest payment of 78 million US dollar of a sovereign bond on May 19
"A revised budget for the balance of the year will be presented to parliament next month."
Sri Lanka’s new President, Ranil Wickremesinghe, had sought the top job for decades. Now he has to find ways to avoid the fate of his predecessor as he fends off protesters who’re angry about persistent food and fuel shortages.The post Here’s what to expect in Sri Lanka with a new President in power appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Sri Lanka Latest News.
The Indian economy is on course to achieve projected 8-8.5 per cent growth based on high-frequency indicators for the first quarter of the FY 2022-23, the Finance Ministry said on 19 July. Earlier on 31 January, the Economic Survey tabled in the Parliament projected the real GDP during 2022-23 to grow at 8.0-8.5 per cent. […]
New Foreign Minister Ali Sabry says he looks forward to delivering on the mandate of the Ministry to steer forward Sri Lanka’s foreign relations. He also said that he will also take the domestic compulsions into consideration. Sabry assumed duties at the Ministry today (25 July, 2022) at a simple ceremony. Foreign Secretary Aruni Wijewardane […]
"I wish you every success as well as good health and prosperity," he said.
The National People’s Power (NPP) points out the need to establish a citizen's rule in the country.The post A citizen’s rule should be established in the country – NPP appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Sri Lanka Latest News.
Indian billion dollar credit line also works Undiyal fashion
Chinese President Xi Jinping offered Sri Lanka's new president his support on Friday, state broadcaster CCTV reported, as the Indian Ocean island grapples with its worst economic crisis in decades.The post China’s Xi offers Sri Lanka’s new president support amid crisis appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Sri Lanka Latest News.