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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 […]
“Tyrannical governments and illegitimate leaders throughout history have led their societies to destruction” The Federation of University Teachers (FUTA) says that the Wickremasinghe-Rajapaksa government lacks any legitimacy and it should stop taking cover behind the Constitution.In a statement condemning what it termed as “repression of aragalaya activists by the current regime&...
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.
[…]The post Economy, Emergency & Aragalaya appeared first on Colombo Telegraph.
[…]The post Proroguing The Parliament – A Political Subterfuge! appeared first on Colombo Telegraph.
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 appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
The remaining petrol reserves in Sri Lanka will likely be insufficient to meet normal needs, the World Food Programme (WFP) said. The Government has announced restrictions on fuel imports for the next 12 months as it faces a severe supply shortage. “Remaining petrol reserves will likely be insufficient to meet normal needs. The situation has […]
[…]The post The Aragalaya & Human Rights In Geneva This September appeared first on Colombo Telegraph.
Sri Lanka's rupee fell sharply in the June quarter
In Sri Lanka, which is battling a crushing economic crisis, is now facing another predicament with its women, most of them who have lost their jobs in the textile sector, now forced to become sex workers to earn a livelihood, the ANI reported.The post Makeshift brothels crop up in Sri Lanka as economic hardship pushes women into prostitution appeared first on ONLANKA News :. Sri Lanka Breaking New...
The Central Bank of Sri Lanka (CBSL) has warned of stern action against market players who fail to fully comply with foreign exchange regulations. Issuing a statement, CBSL said that the bank and the Government have been implementing several measures to ease the burden of the current economic hardships on the people. One major factor […]
By Shiran Ranasinghe and Sanath Nanayakkara The Ceylon Petroleum Corporation (CPC) has still not paid for a ship carrying 40,000 tonnes of diesel that had arrived in Colombo Port on 16 July 16. The CPC has to pay 52 million dollars to the Dubai based Coral Energy before unloading the diesel. Moreover, the CPC also […]
Chinese financial institutions have reached out to Sri Lanka and had shown full readiness to find a way to handle the matured Chinese loans and help Sri Lanka to overcome the difficulties, Chinese Foreign Ministry Spokesperson Zhao Lijian said during his Regular Press Conference in Beijing. Lijian made this statement in response to a question […]
China on Thursday defended its massive infrastructure ventures and investments in crisis-hit Sri Lanka and said that they have Âboosted its economic development, amid criticism from the US of Beijing s unproductive projects and opaque loan deals among the reasons for the country s bankruptcy.
China said on Friday it hoped "relevant parties" would refrain from interfering with its legitimate maritime activities after New Delhi voiced concern over a Chinese military ship's planned visit to a port in India's southern neighbor Sri Lanka.The post China defends military ship visit to Sri Lanka appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
Sovereign default together with increasing economic challenges poses significant downside risks to DFCC's profitability
Has government securities
India, which is trying to expand its influence in crisis-hit Sri Lanka after China made deep inroads there, said on Thursday it was aware of reports about the planned visit of a Chinese vessel to a Sri Lankan port built with money from Beijing.The post India says it will protect its interests as Chinese boat heads to Sri Lanka appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Lat...
Developments in Sri Lanka underline the risk of destabilising social and labour unrest throughout Asia-Pacific because of rising living costs impacting the region, S&P Global Market Intelligence said. Countries with similarly weak economic fundamentals and/ or poor economic policies have reduced resilience to external shocks, such as the COVID-19 pandemic, the Russia-Ukraine conflict, high oil...
Chevron had imported lubricants on credit and had been hit as the rupee collapsed
Newspapers, TV programmes and video presentations have been dealing with the terrible incident that occurred in the premises of the Presidential Secretariat and on the steps leading to it, at predawn on Friday 23 July. Cassandra feels compelled to present her opinion though it is one week from that day. Experts have dissected it and […]
British Politics and Ours Both Sri Lanka and the UK have experienced an unprecedented political upheaval of late. It is interesting that both leaders agreed to resign within a day of each other. Everybody else saw the ‘the end is nigh’ sign for quite a while. They didn’t or didn’t want to see it until […]
By By Eng. Parakrma Jayasinghe Bio Energy Association of Sri Lanka The much-awaited outcome of the interim President is now over. Will this result in some measure of hope for the beleaguered public of reversing the downward slide of the economy and the resultant crisis on the very livelihood of most strata of the society? […]
By Uditha Devapriya Archive images courtesy of the J. R. Jayewardene Centre The role of the journal in the Buddhist Revival in British Ceylon has never been seriously examined by scholars. Most historical accounts trace the origins of a Buddhist press to the late Dutch and early British periods. The growth of print capitalism held […]
The successful formation of a government under the new President Ranil Wickremesinghe is an important precondition for resolving Sri Lanka’s debt defaultThe post Fitch Ratings calls for political stability in Sri Lanka appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
By Easwaran Rutnam China has defended the loans it has offered to Sri Lanka following concerns raised by the United States. Chinese Foreign Ministry spokesman Zhao Lijian said that the cooperation between Sri Lanka and China has always followed the principle of being Sri Lanka-led. “All cooperation projects have gone through scientific planning and thorough […]
New govt dominated by Rajapaksa linked party
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 appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
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.