@2022 - All Right Reserved. Designed and Developed by Rev-Creations, Inc
1877 results found in 2750 ms
Page 1 of 63
Sri Lanka’s worries are increasing as China has not agreed to debt restructuring modalities as per the International Monetary Fund’s requirements, which is essential for the multilateral funding organisation before it green signals a $2.9 billion bailout package to the crisis-hit island country in mid-December. In October, Sri Lankan President Ranil Wickremesinghe told his country’s […]
Sri Lanka owed Chinese lenders $7.4 billion - nearly a fifth of its public external debt - by the end of last year, calculations by the China Africa Research Initiative (CARI) published on Wednesday showed, an estimate higher than many others.The post Sri Lanka’s debt to China close to 20% of public external debt – study appeared first on Sri Lanka News - Latest Breaking News in Sri La...
By Shamindra Ferdinando Former Foreign Minister Prof. G. L. Peiris has questioned the rationale behind President Ranil Wickremesinghe’s warning that the military will be deployed to curb protest vis-a-vis a Foreign Ministry undertaking to boost foreign trade and investment. Addressing the Parliament, during the Budget committee stage debate, on 28 Nov., Prof. Peiris said the […]
Sri Lankans can now hold $10,000 worth of the Indian rupee (INR) in a physical form, though the INR would not be legal tender in Sri Lanka, after India approved a Sri Lankan request to designate the INR as the foreign currency.The post Indian Government allows Sri Lankans to hold $10,000 worth of rupee in cash appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s inflation is expected to significantly cool in the coming months after peaking near 70% this year, and the nation may gradually relax a currency band as inflows improve, central bank governor Nandalal Weerasinghe said.The post Sri Lanka’s inflation expected to significantly cool in the coming months – CBSL Governor appeared first on Sri Lanka News - Latest Breaking News in ...
Several countries have sought assistance from Bangladesh after the South Asian nation helped Sri Lanka with a currency swap, Bangladesh Prime Minister Sheikh Hasina said. “We have assisted Sri Lanka from our (forex) reserves. After that, I received requests from many countries,” she said. The Prime Minister said this while delivering her introductory speech at […]
The Central Bank of Sri Lanka (CBSL) has announced the official exchange rates for 28th November with the US dollar buying rate recorded at Rs. 360.29.The post Daily Exchange Rates from Central Bank of Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Who Has Printed The Biggest Quantity Of Money? Lakshman, Cabraal Or Nandalal? appeared first on Colombo Telegraph.
The dramatic fuel shortages that accompanied mass protests in Sri Lanka earlier this year may have eased, but for millions of Sri Lankans the economic crisis is worse than ever, said a report by the Amnesty International. It said: This month, the United Nations renewed a humanitarian appeal, stating that 28 percent of the population faces […]
The Parliament committee on High Posts has approved the appointment of new Foreign Secretary Aruni Wijewardane. Wijewardane has already assumed duties at the Foreign Ministry as the new Foreign Secretary. Secretary-General of Parliament Dhammika Dasanayake said the appointment of four Secretaries to Ministries, a Chairman to a State institution and an Ambassador have been approved […]
[…]The post Lanka’s Vanishing Fish: Corporate Capture & Import Dependency Deepen The Debt Trap appeared first on Colombo Telegraph.
Foreign Minister Ali Sabry, PC, has dismissed assertions that China caused the current economic crisis here.The Minister made Sri Lanka’s position clear in an interview with WION’s diplomatic correspondent Sidhant Sibal. Asked whether Minister Sabry believed that the current economic crisis is due to China, its policy of debt crisis, the Minister has said: No, […]
International human rights organisation, Human Rights Watch (HRW) urged Sri Lanka’s major foreign creditors, including China, Japan, and India to help restructure debts and urgently mitigate the adverse human rights impacts of the country’s worst-ever economic crisis.The post Human Rights Watch urges major creditors to help restructure Sri Lanka’s debts appeared first on Sri Lanka News - Lat...
By Hiran H. Senewiratne Central Bank Governor Dr. Nandalal Weerasinghe says Sri Lanka is expecting to go to the IMF Board in January 2023 if it misses the December window and is also confident of getting assurance from bilateral creditors soon. “Most probably meeting the IMF target is too optimistic and satisfactory so far but if […]
The foreign travel ban imposed on former Central Bank governor Ajith Nivard Cabraal has been extended until December 15.The post Travel ban imposed on Ajith Nivard Cabraal extended appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka's central bank on Thursday threatened administrative intervention to control high market interest rates that it regarded as out of line with the inflation outlook.The post Central Bank of Sri Lanka threatens administrative measures over high market interest rates appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s gross official reserves were estimated at US dollars 1.7 billion as of end October 2022, including the swap facility from the People’s Bank of China, equivalent to around US dollars 1.4 billion, which has certain conditionalities on usability, the Central Bank of Sri Lanka said today. The Central Bank said that the merchandise […]
Nomura Holdings Inc, Japan's top brokerage and investment bank, has warned that seven countries – Egypt, Romania, Sri Lanka, Turkey, Czech Republic, Pakistan and Hungary – are now at a high risk of currency crises.The post Nomura warns seven emerging economies including Sri Lanka face currency crisis danger appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
At a time when enhancing profitability of public enterprises is an urgent need to boost the national economy of Sri Lanka, the revival and turnaround of Gal Oya Plantations (formerly known as Hingurana Sugar factory) by LOLC is an embodiment of how the nation’s assets can be enhanced through professionalism and expertise by the private […]
By Ramesh Khan At the beginning of the year 2022, none in Sri Lanka would have thought that the end of the pandemic would not signal the end of misery. Instead, it signaled the advent of misery in forms that had been unknown to the Sri Lankans until now. A country filled with tourist spots, […]
In a bid to create even more value for its customers, Amana Takaful Insurance has joined hands with Sri Lanka’s No.1 Lifestyle Savings App, SLASH, to provide an exclusive 20% discount on yearly and monthly SLASH plans for its customers. SLASH is Sri Lanka’s first and leading lifestyle savings app that allows customers to access […]
By N Sathiya Moorthy At a time when India, Sri Lanka and Maldives are fighting international drug menace jointly and severally, comes President Ranil Wickremesinghe’s budget that has proposed legalising cannabis cultivation. The idea is to help boost farm-produce (?) exports and forex reserves, which are at the lowest level since the economic crisis hit […]
By Shamindra Ferdinando General Secretary of the Democratic Left Front (DLF) Vasudeva Nanayakkara, MP, yesterday (20) said that the UNP had sold the urea plant at Sapugaskanda to a foreign buyer who set it up in an Arab country.Having brought the machinery as scrap iron the buyer had re-installed the machinery and today Sri Lanka […]
[…]The post National Council’s Economic Stabilisation Report Is A Welcome Sign appeared first on Colombo Telegraph.
People’s Bank recently entered into an agreement with the National Investment Industrial Bank in Russia to facilitate anovel remittance mechanism that enables efficient and convenient fund transfers from Russia to accounts in Sri Lanka. According to this arrangement, beneficiaries in Sri Lanka, especiallyservice providers, exporters etc. will be able to receive fundsquickly and cost effectively. [...
[…]The post How We Came To This Pass – Waiting On IMF appeared first on Colombo Telegraph.
Sri Lanka has postponed a round of debt restructuring talks initially expected to be held on Thursday to allow central bank and treasury officials to provide clarifications sought by the country's creditors, its state minister of finance said.The post Sri Lanka postpones debt restructuring talks, hopes for IMF deal in December appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ...
[…]The post Economic Bankruptcy & Political Instability appeared first on Colombo Telegraph.
[…]The post Unmasking The Likes Of Cabraals; A National Imperative! appeared first on Colombo Telegraph.
By Saman Indrajith Sri Lanka was the only country in the world to have waited until it ran out of foreign reserves to seek IMF assistance, SJB MP Patali Champika Ranawaka told Parliament yesterday. Participating in the Second reading debate on the 2023 Budget, Ranawaka said: “The World Bank officials too have said so. According […]