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Sri Lanka's government projected a lower-than-anticipated budget deficit for 2024 on Monday on the back of a significant jump in revenues which are crucial to keep its bailout programme from the International Monetary Fund afloat.The post Sri Lanka’s 2024 budget sets ambitious revenue
- Sri Lanka balances polls and crisis recovery in 2024 budget deliberations (Category: Breaking News)
- Sri Lanka plans new budget 2022, original targets cannot be achieved: PM (Category: Breaking News)
- Sri Lanka’s president to cut spending in interim budget (Category: Breaking News)
- Sri Lanka’s 2023 budget aims to put crisis-hit economy back on track (Category: Breaking News)
Sri Lanka is likely to raise taxes and curb spending in its annual budget to meet the International Monetary Fund s conditions and maintain a $3 billion bailout, but elections next year might see the government delay some reforms.
The Executive Board has approved a proposal to be considered by the Board of Governors to conclude the 16th General Review of Quotas with a significant increase in quotas.The post IMF Executive Board approves a proposal to increase financial quotas appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- IMF Executive Board approves a proposal to increase financial quotas (Category: Breaking News)
- IMF team in Colombo this week for first review of Extended Fund Facility (Category: Breaking News)
- IMF Team to conduct second review of Sri Lanka’s EFF program in March 2024 (Category: Breaking News)
- IMF staff to visit Sri Lanka in September for first programme review (Category: Breaking News)
The Executive Board has approved a proposal to be considered by the Board of Governors to conclude the 16th General Review of Quotas with a significant increase in quotas.
Sri Lanka President Ranil Wickremesinghe will seek to boost tax revenue and rationalise spending in the government’s second full-year budget on Monday, targeting a return to growth for the crisis-hit economy while keeping an eye on elections.The post Sri Lanka balances polls and crisis recovery in 2024 budget deliberations appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s 2024 budget sets ambitious revenue, deficit targets (Category: Breaking News)
- Sri Lanka budget to seek recovery for crisis-hit economy (Category: Breaking News)
- Sri Lanka to receive about $600 million ADB funding post-IMF approval – official (Category: Breaking News)
- Sri Lanka’s 2023 budget aims to put crisis-hit economy back on track (Category: Breaking News)
Sri Lanka and Argentina remain very vulnerable amid a worsening in global financial conditions while China has suffered a sharp deterioration in financial resilience since pre-COVID times, a think-tank study found on Wednesday.The post Sri Lanka, Argentina top list of most vulnerable economies -study appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- India has been greatly sensitive to the needs of Sri Lanka – Modi (Category: Breaking News)
- Sri Lanka, Argentina top list of most vulnerable economies  study (Category: Breaking News)
- Nomura warns seven emerging economies including Sri Lanka face currency crisis danger (Category: Breaking News)
- A citizen’s rule should be established in the country – NPP (Category: Breaking News)
Minister of Ports, Shipping and Aviation, Nimal Siripala de Silva recently received an assurance from Saudi Arabian Ambassador to Sri Lanka, Khalid Hamoud Nasser Alkahtani, that KSA would support ongoing economic recovery efforts. They met on Nov 6. During the meeting, the Saudi Arabian Ambassador expressed appreciation for the rapid progress achieved by Sri Lanka’s […]
- Saudi Arabian Airlines to resume flights to Sri Lanka (Category: Breaking News)
- Sri Lankans among the highest-paid foreign employees in Saudi Arabia (Category: Breaking News)
- Steps to secure release of Lankan crew being taken: Foreign Ministry (Category: Breaking News)
- Sri Lankan envoy says relations with Saudi Arabia based on respect (Category: Breaking News)
Nepali economist and Member of Parliament Dr. Swarnim Waglé says the International Monetary Fund (IMF) gets blamed for the mess created by politicians when the government has to implement unpopular policies to comply with the conditions set by the global lender for the bailout package.
By N Sathiya Moorthy In a television interview last month, Foreign Minister Ali Sabry reportedly said that the Government of President Ranil Wicrkemesinghe has taken ‘substantial steps to move away from a Welfare State’ in the last 18 months. And he said it not as if it was inevitable under the nation’s economic circumstances and […]
- After privatisation, who is going to feed the ‘gutter people’? (Category: Breaking News)
- IMF does not support providing subsidies to everyone in Sri Lanka (Category: Breaking News)
- IMF says economic recovery in Sri Lanka remains challenging (Category: Breaking News)
- IMF says full economic recovery in Sri Lanka is not yet assured (Category: Breaking News)
ECONOMYNEXT –Opposition and SJB leader Sajith Premadasa has accused the government of shrinking the economy through its proposal to increase value added tax (VAT) to 18 percent, claiming that it will reduce spending and investments. Speaking at an event on Friday November 03, Premadasa said Sri Lanka is experiencing a shortage in both dollars and […]
- Sajith slams Ranil’s Red Sea move (Category: Breaking News)
- JVP lashes SLPP’s VAT “dupliciy” (Category: Breaking News)
- Debate on VAT Bill: Parliament session adjourned (Category: Breaking News)
- JVP-led CTSU threatens protests against VAT on school materials (Category: Breaking News)
[…]The post Doctors’ Brain Drain: Health Security Concern In Sri Lanka appeared first on Colombo Telegraph.
- Flight Of Human Capital – A Catastrophic Fait Accompli (Category: Breaking News)
- Using Vaccines Against Covid Is Far Cheaper & Safer Than Using Local Brews! (Category: Breaking News)
- Using Vaccines Against Covid Is Far Cheaper & Safer Than Using Local Brews! (Category: Breaking News)
- Using Vaccines Against Covid Is Far Cheaper & Safer Than Using Local Brews! (Category: Breaking News)
[…]The post BRI Dynamics & Politics Of Cabinet Reshuffle appeared first on Colombo Telegraph.
- Wickremesinghe Is Caught Between A Rock & A Hard Place (Category: Breaking News)
- The Destiny Of China’s Colony Of Sri Lanka (Category: Breaking News)
- The China-Lanka Conundrum (Category: Breaking News)
- Sri Lanka: Surviving The 75th Year Of Independence (Category: Breaking News)
President Ranil Wickremesinghe, on Wednesday night, speaking at the National Industry Awards ceremony, acknowledged the challenging decision to increase the Value Added Tax (VAT) to 18 percent, emphasising the imperative need to maintain economic stability. National Industry Excellence Awards 2023 was held at the Nelum Pokuna Theatre in Colombo. President Wickremesinghe stressed the importance of ...
- French President Emmanuel Macron to visit Sri Lanka today (Category: Breaking News)
- Bank loan concessions for small- medium-scale industries in upcoming budget  President (Category: Breaking News)
- President, GL receive awards (Category: Breaking News)
- Devananda throws his weight behind RW’s candidature (Category: Breaking News)
Weeks of mounting political tension have erupted into protests and bloodshed in Bangladesh, leaving the country on edge ahead of general elections due in January. Several senior opposition leaders were arrested last Sunday, a day after a massive rally against the government turned violent, resulting in the deaths of at least two opposition supporters. The rejuvenated […]
- Hezbollah steps back from all-out war on Israel over Gaza – for now (Category: Breaking News)
- Taiwan elects William Lai president in historic election (Category: Breaking News)
- World leaders in India for G20 summit (Category: Breaking News)
- Australians vote No in historic referendum (Category: Breaking News)
Sri Lanka's key inflation rate rose to 1.5% in October from 1.3% a month ago, the statistics department said on Tuesday.The post Sri Lanka’s key inflation rate rises to 1.5% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Rising food prices drive Sri Lanka inflation up to 4.2% in December (Category: Breaking News)
- Sri Lanka’s key inflation rate eases to 50.6% in February (Category: Breaking News)
- Sri Lanka unexpectedly cuts rates by 250 bps as inflation eases (Category: Breaking News)
- Sri Lanka’s key inflation rate eases to 25.2% in May (Category: Breaking News)
Sri Lanka to increase Value-Added Tax (VAT) from 15 percent to 18 percent effective from January 01, 2024.The post Sri Lanka to increase VAT to 18% appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka to remove 7.5% Port and Airport tax from Fuel & Gas but add 18% VAT (Category: Breaking News)
- Prices of all DCSL liquor products to be increased (Category: Breaking News)
- VAT has not been charged on consumer goods – Minister (Category: Breaking News)
- Mobile phone prices in Sri Lanka up by 35% from January 01? (Category: Breaking News)
State Minister of Finance Shehan Semasinghe has assured that while the government will not take any decisions that would adversely affect the country s economy, the reforms currently being implemented, in compliance with the agreement under the International Monetary Fund (IMF), are ones
ECONOMYNEXT – Sri Lanka is in the process of creating a Revenue Authority and the 2024 budget is likely to announce it to monitor the three key state income collecting bodies due to their poor performance, sources who are aware of the new move said. A Parliament Sectoral Oversight Committee on National Economic and Physical […]
- Revenue Authority being formed secretly (Category: Breaking News)
- Efficient tax administration critical to generating expected revenue (Category: Breaking News)
- 105,000 registered limited liability companies but 82 percent of revenue comes from just 382 (Category: Breaking News)
- COPA concerned about VAT collection (Category: Breaking News)
Thursday 26th October, 2023 Some SLPP MPs are shedding copious tears for the public who are struggling to keep their heads above water. Prominent among them is former Minister Namal Rajapaksa, who is trying to absolve the SLPP of the blame for exponential increases in taxes and tariffs. Attributing the people’s economic woes to the […]
- Kiriella accuses IMF of double speak (Category: Breaking News)
- Rohitha Abeygunawardena elected chair of COPE (Category: Breaking News)
- Why does IMF ignore government’s authoritarian behavior, asks Harsha (Category: Breaking News)
- Quorum quandary (Category: Breaking News)
Sri Lanka Podujana Peramuna (SLPP) Parliamentarian Namal Rajapaksa has voiced his displeasure over the recent Cabinet reshuffle that took place, deeming it a mere ‘change of posts’, as opposed to an effective solution to the issues Sri Lanka is currently facing.The post Namal Rajapaksa slams Cabinet reshuffle, says President should understand coalition politics appeared first on ONLANKA - Sri Lank...
- Namal slams Cabinet reshuffle, says President should understand coalition politics (Category: Breaking News)
- Mahinda Rajapaksa to form new alliance (Category: Breaking News)
- Basil likely to enter parliament during cabinet reshuffle – Dissanayake (Category: Breaking News)
- Basil likely to enter parliament during cabinet reshuffle – Dissanayake (Category: Breaking News)
The International Monetary Fund (IMF) says Sri Lanka is on the path to receive the second tranche of funding as the country looks to complete its economic reforms agenda on schedule. IMF Executive Director Dr. Krishnamurthy Subramanian said that the commitment will be a reason to assure
- IMF wants secrecy till final deal with Sri Lanka reached (Category: Breaking News)
- IMF MD and Ranil review progress on restructuring Sri Lanka’s debt (Category: Breaking News)
- Sri Lanka’s creditors to hold crucial talks next week (Category: Breaking News)
- IMF and Sri Lanka discuss steps to be taken to secure funds (Category: Breaking News)
Sri Lanka should aim to get state revenues more than 12 percent of gross domestic product and avoid revenue shortfalls next year, International Monetary Fund Senior Mission Chief Peter Breuer said. Sri Lanka projected revenues (including non-tax) of 3,408 billion rupee (11.3 -pct of GDP
- Smokers, drinkers hit by index linked taxes (Category: Breaking News)
- IMF says increasing revenue of paramount importance for Sri Lanka; defends VAT hike (Category: Breaking News)
- 93 percent jump in tax collection in first half of this year (Category: Breaking News)
- New IMF funds for Sri Lanka may be delayed as review sees revenue shortfall (Category: Breaking News)
The Ceylon Chamber of Commerce (CCC) has congratulated the Government of Sri Lanka for reaching a staff-level agreement on the first review of Sri Lanka’s Extended Fund Facility Arrangement (EFF) with the International Monetary Fund (IMF). “This agreement is set to grant Sri Lanka access
- Sinopec signs agreement to enter Sri Lanka s fuel retail market (Category: Breaking News)
- Next round of talks on Sri Lanka-Thailand FTA in June (Category: Breaking News)
- Sri LankaÂThailand FTA likely to be signed in March 2024 (Category: Breaking News)
- India, Sri Lanka hopeful of early ETCA conclusion, working on Kochi-Colombo LNG pipeline (Category: Breaking News)
The staff level agreement on the first review of the International Monetary Fund (IMF) programme will enable multilateral agencies to disburse remaining installments and help fast-track debt restructuring, State Minister of Finance Shehan Semasinghe said. “This was much needed to strengthen
- COPF asks govt. why it shared IMF pact with other committees (Category: Breaking News)
- New IMF funds for Sri Lanka may be delayed as review sees revenue shortfall (Category: Breaking News)
- Ceylon Chamber commends staff-level agreement on first IMF review, calls for continued economic ... (Category: Breaking News)
- IMF programme in SL showing signs of working – Breuer (Category: Breaking News)
Sri Lanka has decided to continue to actively participate in the Belt and Road Initiative proposed by China. Issuing a joint statement, Sri Lanka reiterated that it will never allow any separatist activity against China on Sri Lanka‘s soil. The joint statement by China and Sri Lanka was issued following a visit to China by President Ranil Wickremesinghe […]
- China pledges steadfast support to Sri Lanka (Category: Breaking News)
- China remains the most sincere and reliable friend of Sri Lanka – Ambassador (Category: Breaking News)
- President Wickremesinghe places his trust on Xi Jinping (Category: Breaking News)
- Xi meets Ranil (Category: Breaking News)
The International Monetary Fund (IMF) is looking for a strong budget and narrower deficit from Sri Lanka as it seeks funding to bridge the gap between government revenue and expenditure, the IMF mission chief for the country said on Friday.The post IMF wants strong budget, narrower deficit from Sri
- IMF wants strong budget, narrower deficit from Sri Lanka (Category: Breaking News)
- IMF warns about budget deficit (Category: Breaking News)
- IMF commends Sri Lanka's commitment to reduce budget deficit, change in policy rates (Category: Breaking News)
- IMF eyes creditor assurances as it prepares Sri Lanka visit (Category: Breaking News)
Sri Lanka and the International Monetary Fund (IMF) have reached a staff-level agreement on economic policies to conclude the first review of US $ 3 billion, 48-month, Extended Fund Facility (EFF).The post Sri Lanka reaches IMF staff-level agreement on first review appeared first on ONLANKA - Sri
- IMF Executive Board considers Sri Lanka’s loan facility for approval today (March 20) (Category: Breaking News)
- First review of IMF’s Extended Fund Facility for Sri Lanka to commence today (Category: Breaking News)
- IMF not expected to discuss Sri Lanka before year-end – sources (Category: Breaking News)
- Despite signs of stabilization, full economic recovery not yet assured – IMF Mission (Category: Breaking News)
The Ceylon Chamber of Commerce has congratulated the Government of Sri Lanka for reaching a staff-level agreement on the first review of Sri Lanka s Extended Fund Facility Arrangement (EFF) with the International Monetary Fund (IMF).
International Monetary Fund (IMF) says it looks forward to analyzing the details of the recent agreement between Sri Lankan authorities and the Export-Import Bank (Exim Bank) of China on debt treatment terms.
The International Monetary Fund (IMF) is looking for a strong budget and narrower deficit from Sri Lanka as it seeks funding to bridge the gap between government revenue and expenditure, the IMF mission chief for the country said on Friday.
- Economic Czar (Category: Business)
- Sri Lanka cuts import levy, simplifies taxes (Category: Breaking News)
- Sri Lanka cuts import levy, simplifies taxes (Category: Breaking News)
- Sri Lanka cuts import levy, simplifies taxes (Category: Breaking News)
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