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Private creditors in Sri Lanka have submitted a restructuring proposal for the country’s $12 billion overseas debt, aiming to include a novel bond-type designed to ease repayments in the face of potential economic pressures, Reuters reported on Friday. The proposal, sent on 02 October, outlines a write-down on both capital and interest, the international news […]
- Sri Lanka bondholders proposal sees government pushback (Category: Breaking News)
- Sri Lanka s bondholders send debt rework proposal to government (Category: Breaking News)
- Some creditors of Sri Lanka seek debt restructuring deal excluding China, reports Bloomberg (Category: Breaking News)
- Sri Lanka bondholders sent $12 billion debt rework proposal to government - report (Category: Breaking News)
Sri Lanka s authorities can negotiate any proposals private creditors make, such as issuing GDP-linked bonds, a senior International Monetary Fund official said on Friday.
Sri Lanka's private creditors have sent a proposal on how to restructure $12 billion of overseas debt, including a new type of bond designed to ease repayments in case of future economic pressure, said two sources with direct knowledge of the matter.The post Sri Lanka bondholders sent $12 billion debt rework proposal to government, sources say appeared first on ONLANKA - Sri Lanka Latest Breaking ...
- Sri Lanka’s bondholders send debt rework proposal to government (Category: Breaking News)
- Sri Lanka s bondholders send debt rework proposal to government (Category: Breaking News)
- Sri Lanka debt restructuring stumbles as government rejects bondholders’ proposal (Category: Breaking News)
- Global investors and Sri Lanka officials set for second round of Bond Restructuring talks (Category: Breaking News)
International Monetary Fund managing director Kristalina Georgieva said on Thursday the Âheartbreaking Israel-Hamas conflict threatened to darken an already murky global economic outlook.
Sri Lanka is likely to clinch an agreement in the next several days that would help it tap more funds from the International Monetary Fund even though it s still trying to firm up negotiations with creditors on debt restructuring, Bloomberg reported.
Sri Lanka has reached an agreement with the Export-Import Bank of China to cover about $4.2 billion of the island nation's outstanding debt, its finance ministry said in a statement on Thursday.The post Sri Lanka says it has deal with China EXIM bank covering $4.2 billion of debt appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- China says Exim Bank and Sri Lanka reached preliminary debt deal (Category: Breaking News)
- China’s EXIM bank offers Sri Lanka debt extension – report (Category: Breaking News)
- Analysis: China paves Sri Lanka’s way to IMF funds, but debt talks remain uncertain (Category: Breaking News)
- Sri Lanka expects financing assurances from China for IMF deal within days (Category: Breaking News)
Sri Lanka expects the Executive Board of the International Monetary Fund (IMF) to clear the next tranche of IMF financing of about US$334 million to be disbursed following a deal reached between Sri Lanka and China. The Finance Ministry said that the Government of Sri Lanka reached an agreement
- China asked to share copies of letter on Sri Lanka debt restructuring (Category: Breaking News)
- Ceylon Chamber urges China to meet IMF requirements (Category: Breaking News)
- Some creditors want to restructure Sri Lanka’s debt without China (Category: Breaking News)
- Paris Club provides financing assurances to IMF on Sri Lanka (Category: Breaking News)
Discussions between Sri Lanka and all its creditors are ongoing, though the International Monetary Fund has not been informed about any specific agreements, its mission chief for the country said on Wednesday.The post Sri Lanka’s talks with creditors ongoing, unaware of specific deals –
- Debt restructuring making progress in countries such as Sri Lanka – IMF (Category: Breaking News)
- IMF board poised to approve $2.9 billion Sri Lanka bailout (Category: Breaking News)
- There is “strong expectation” of Sri Lanka commercial creditor deal: IMF (Category: Breaking News)
- IMF remains hopeful of Sri Lanka securing all financing assurances soon to unlock funding (Category: Breaking News)
The International Monetary Fund (IMF) says despite the early signs of stabilization, Sri Lanka s full economic recovery is not yet assured.
Discussions between Sri Lanka and all its creditors are ongoing, though the International Monetary Fund has not been informed about any specific agreements, its mission chief for the country said on Wednesday.
Another team of officials from the International Monetary Fund (IMF) is expected to visit Sri Lanka next week. Minister of Justice, Prisons Affairs and Constitutional Reforms Dr. Wijeyadasa Rajapakshe told the media that the team would hold extensive discussions on the second tranche
China said one of its financial institutions has reached a preliminary agreement with Sri Lanka on resolving China-related debt, a potentially major step toward resolving the South Asian nation’s fiscal woes.The post China says Exim Bank and Sri Lanka reached preliminary debt deal appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- China says Exim Bank and Sri Lanka reached preliminary debt deal (Category: Breaking News)
- Sri Lanka says it has deal with China EXIM bank covering $4.2 billion of debt (Category: Breaking News)
- Sri Lanka’s talks with creditors ongoing, unaware of specific deals – IMF (Category: Breaking News)
- Sri Lanka says China Exim Bank agreed in principle to restructure $4.2bn of debt (Category: Breaking News)
Sri Lanka has made commendable progress in implementing difficult but needed reforms, but its full recovery is not yet assured, Daniel Leigh, a senior official in the International Monetary Fund s research department, told reporters.
by Saman Indrajith The SJB yesterday proposed that the government reduce taxes on professionals and compensate for the revenue loss by other means such as tackling the problem of counterfeit revenue stickers on liquor bottles. Addressing the media at the Opposition Leader’s Office in Colombo, SJB Colombo District MP and economist Dr. Harsha de Silva […]
- Corruption has cost SL second tranche of IMF loan: Sajith (Category: Breaking News)
- Minister shines light on tycoons’ liquor racket (Category: Breaking News)
- IRD’s inability has led govts. to extract unbearable taxes from professionals, honest people (Category: Breaking News)
- Sri Lankan government earns massive revenue from cigarette and liquor taxes (Category: Breaking News)
[…]The post Sri Lanka: IMF / World Bank – Systemic Reforms Needed appeared first on Colombo Telegraph.
- Wickremesinghe Govt. Continues To Repress Freedoms Of Expression & Pursue Policies Against Minor... (Category: Breaking News)
- Tamils Detained For Commemorating War Dead: 9 Held Under Abusive PTA (Category: Breaking News)
- In Sri Lanka, Chaotic Social Security Reform Denies People’s Rights: “Aswesuma” Program Applies ... (Category: Breaking News)
- Sri Lanka’s Proposed Internet Law Threatens Upcoming Elections (Category: Breaking News)
Sri Lanka's central bank resumed interest rate cuts on Thursday to boost growth and as the government seeks to lift revenue and repair its balance sheets in a bid to secure continued financial support from the International Monetary Fund.The post Sri Lanka resumes rate cuts to boost growth as inflation cools appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka Central Bank cuts statutory reserve ratio by 200 bps (Category: Breaking News)
- CBSL governor says more rate cuts needed for economy to bounce back (Category: Breaking News)
- Sri Lanka unexpectedly cuts rates by 250 bps as inflation eases (Category: Breaking News)
- Sri Lanka signals pause after four rate cuts as IMF loan awaited (Category: Breaking News)
Minister of Trade, Commerce and Food Security Nalin Fernando expressed optimism about the country’s economic prospects during a press conference on the theme of ‘Collective Path to a stable country, held at the Presidential Media Center on Wednesday (04). He stated that with the government’s efforts to reduce economic contraction, there is a possibility of […]
- Italian Stance (Category: Business)
- Improved Orders (Category: Business)
- Nature's gift (Category: Technology)
- Space race (Category: Technology)
[…]The post Sri Lanka At A Crossroads: The IMF’s 16-Point Prescription For Reform appeared first on Colombo Telegraph.
- Ex-CBSL Chief backs IMF conditions for resumption of bailout process (Category: Breaking News)
- Harsha hints at Chinese hurdle in debt relief talks (Category: Breaking News)
- Ex-AG backs IMF bailout conditions (Category: Breaking News)
- Government says staff level agreement with IMF not a document (Category: Breaking News)
Sri Lanka s is facing a big challenge from its largest bilateral lender, China to secure a concrete debt relief framework, as it is blocking access to desperately needed cash bailout of 3 billion US dollars from International Monetary fund, Nikkei Asia reported.
Crisis-hit Sri Lanka will focus on improving tax collection to reduce budget deficits as it streamlines the structure of the tax system, the treasury secretary said on Wednesday, with new legislation planned to improve public finances.The post Sri Lanka aims to streamline tax structure, boost collections appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s New Personal income tax likely to come in to force from November 1 (Category: Breaking News)
- Inland Revenue Department collects nearly Rs. 700 Billion in tax revenue in first half of 2023 (Category: Breaking News)
- Nearly one million Sri Lankans register with TIN (Category: Breaking News)
- Sri Lanka to increase VAT to 18% (Category: Breaking News)
By Saman Indrajith Opposition and SJB leader Sajith Premadasa told Parliament yesterday that Sri Lanka had failed to secure the crucial second tranche of a $3 billion loan from the International Monetary Fund as the country was still being ruled by the same corrupt family regime
- Sri Lanka s IMF agreement will be renegotiated under SJB govt - Sajith (Category: Breaking News)
- Visiting IMF delegates call on Opposition Leader (Category: Breaking News)
- Marikkar warns state officials acting illegally, Sajith threatens to get on the streets (Category: Breaking News)
- Opposition opposes issuing Treasury Bills worth one trillion (Category: Breaking News)
The World Bank revised up its forecasts for Sri Lanka's economy on Tuesday, noting the crisis-hit nation had made strides in reducing inflation and had benefited from tourism revenue as well as an appreciation in its currency.The post World Bank boosts Sri Lanka economic forecasts after inflation progress appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka resumes rate cuts to boost growth as inflation cools (Category: Breaking News)
- Sri Lanka still among 10 countries with highest food price inflation (Category: Breaking News)
- Sri Lanka unexpectedly cuts rates by 250 bps as inflation eases (Category: Breaking News)
- Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says (Category: Breaking News)
The US government said a bondholder’s lawsuit against Sri Lanka over the country’s historic debt default should be put on hold.The post Sri Lanka Bondholder Lawsuit Should Be Put on Hold, U.S. Says appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka seeks five-month hold on bondholder suit (Category: Breaking News)
- Local Government Election: Election chief says all relevant documents sent to be gazetted (Category: Breaking News)
- Sri Lanka Cricket files defamation lawsuit against Sports Minister seeking Rs. 2.4 billion in da... (Category: Breaking News)
- Court extends enjoining order blocking Sirisena from SLFP chairmanship until May 9 (Category: Breaking News)
The International Monetary Fund (IMF) has recommended sixteen priority actions in its recently released Governance Diagnostic Assessment (GDA) on Sri Lanka to address systematic and severe governance weaknesses and deep-rooted corruption vulnerabilities across State functions in order to unlock
- Anti-Corruption & Governance reforms are critical – IMF (Category: Breaking News)
- Everyone must come together to support Sri Lanka’s recovery and inclusive growth – IMF (Category: Breaking News)
- Sri Lanka’s economy to contract further before gradual recovery in 2024 – ADB (Category: Breaking News)
- Sri Lanka to receive first tranche of IMF funds in two days (Category: Breaking News)
[…]The post Take Great Care To Ensure The Reach Of RTI Commission Is Not Limited By Future Legislation: IMF Tells Government appeared first on Colombo Telegraph.
- ‘Strictly Justify’ The Refusal To Give Info On Adani Power Project – RTI Commission Orders BOI (Category: Breaking News)
- BASL Comes Within The Right To Information Act, RTI Commission Rules (Category: Breaking News)
- Sri Lanka’s RTI ‘Up In The Air’ In 2021? (Category: Breaking News)
- Sri Lanka’s RTI ‘Up In The Air’ In 2021? (Category: Breaking News)
By SHIHAR ANEEZ ECONOMYNEXT –Sri Lanka’s second tranche of a $3 billion loan from the International Monetary Fund is likely to be delayed as the country has failed to meet the program objective and a global lender’s official said there is no fixed timeline on the disbursement of second tranche. Sri
- IMF review must precede re-look at taxes: Shehan (Category: Breaking News)
- IMF final review discussion with President today (Category: Breaking News)
- Ceylon Chamber of Commerce commends Staff-Level Agreement on first review with IMF, calls for co... (Category: Breaking News)
- The India – Canada spat (Category: Breaking News)
Negotiations to secure the second tranche of funding from the International Monetary Fund (IMF) to Sri Lanka are progressing positively, Acting Finance Minister Shehan Semasinghe announced.The post Sri Lanka’s acting finance minister says positive progress in securing second IMF tranche
- Positive Progress in Securing Second IMF Tranche, Says Acting Finance Minister Shehan Semasinghe (Category: Breaking News)
- IMF team arrives in Sri Lanka to evaluate economic reforms (Category: Breaking News)
- Representatives of the International Monetary Fund express satisfaction with the implemented eco... (Category: Breaking News)
- Sri Lanka commences IMF-World Bank Spring Meetings with positive bilateral talks (Category: Breaking News)
Some members on the committee of Sri Lanka's official creditors are pushing to reach a deal to restructure the nation's debt without the participation of China, Bloomberg News reported on Wednesday citing people familiar with the matter.The post Some Sri Lanka creditors seeking debt restructuring deal without China appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- China says Exim Bank and Sri Lanka reached preliminary debt deal (Category: Breaking News)
- Japan, India and France launch creditors meeting on Sri Lanka debt (Category: Breaking News)
- Sri Lanka’s talks with creditors ongoing, unaware of specific deals – IMF (Category: Breaking News)
- Sri Lanka bondholders raise concerns over debt deal transparency (Category: Breaking News)
Acting Finance Minister Shehan Semasinghe announced that negotiations to secure the second tranche of funding from the International Monetary Fund (IMF) are progressing positively. He emphasized that the government’s economic reform efforts are currently under evaluation by the IMF.
- 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)
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
- IMF wants strong budget, narrower deficit from Sri Lanka (Category: Breaking News)
- Sri Lanka s tax revision helps correct tax revenue expenditure imbalance  IMF Mission (Category: Breaking News)
- 93 percent jump in tax collection in first half of this year (Category: Breaking News)
- IMF says increasing revenue of paramount importance for Sri Lanka; defends VAT hike (Category: Breaking News)
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