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[…]The post A Child’s Guide To Currency Boards: Why Did Ceylon Give Up The Currency Board, While Singapore Didn’t? appeared first on Colombo Telegraph.
ECONOMYNEXT – Sri Lanka’s commercial banks quote the rupee at 364 against telegraphic transfers on Wednesday (18) while the central bank set a daily guidance rate for interbank spot trade for 359.65 plus or minus 2.50.Banks could quote 2.50 rupees plus or minus under the new direction and the rate is set below the market rates.The kerb rate has also eased after spiking last week.The central bank s...
[…]The post Changing Pillows To Cure Headaches: Government Servants Are Not Gods appeared first on Colombo Telegraph.
"Yesterday we received 160 million dollars from the World Bank. We cannot use it for fuel but we are discussing it."
A petrol ship in Sri Lanka waters but the supplier was owed US$53mn
The World Bank has provided USD 160 million to Sri Lanka and discussions are underway to consider if the funds could be used for petroleum purchases, Prime Minister Ranil Wickremesinghe told the parliament today.
"With the CBSL giving us a new schedule, we have given a promise in writing to make the payments in the next 15 days."
Short term borrowings shot up to 58 billion rupees by March 2022 from 33 billion rupees, from December 2021
By R. R. M. Lilani Many have wondered whether former Prime Minister Mahinda Rajapaksa is on the run for collaborating with the Chinese, which has heightened geopolitical tensions in the South Asian region. He did, however, and his pro-Mahinda group’s attacks on those who tarnished his reputation as a mynah (old man) and created a […]
The current crisis is having far-reaching implications on the ability of women and girls to live in dignity
ECONOMYNEXT – Sri Lanka’s commercial banks quote the rupee at 365 against telegraphic transfers while the central bank set a daily guidance rate for interbank spot trade for 359.75 plus or minus 2.50 for March 17.Banks could quote 2.50 rupees plus or minus under the new direction and the rate is set below the market rates.The central bank stopped quoting day rates on January 23 when the rupe...
To pay the ships we will take action to buy dollars from the free market
The Central Bank of Sri Lanka expects the recently introduced middle spot exchange rate to strengthen the rupee exchange rate and to ease the liquidity pressures in the domestic foreign exchange...Click on the headline to read the full story
We have to keep in mind that printing money will depreciate the rupee
NTB group reported earnings of 5.23 rupees per share for the quarter.
Sri Lanka is desperate for dollar inflows
Prime Minister Ranil Wickremesinghe today painted a gloomy picture for Sri Lanka saying the country will face an even more difficult time period in the short term. In an address to the nation today, the Prime Minister said that there are petrol stocks only for a single day, there is a possibility that the daily power […]
New Prime Minister reveals the grim reality of the economy
Sri Lanka’s Hatton National Bank said profits grew 4 percent to 4.9 billion rupees in the March 2022 quarter
Profits at Sri Lanka’s Sampath Bank Plc fell 4.9 percent to 4.9 billion rupees in the March 2022 quarter
Banks are badly affected by a 700 basis points rate hike and a rupee devaluation.
[…]The post A Prescription For Prime Minister Ranil Wickremesinghe appeared first on Colombo Telegraph.
[…]The post Masks Of Democracy & Energy Geopolitics: Is Full Spectrum Dominance The Endgame? appeared first on Colombo Telegraph.
Sri Lanka is sliding into a default as the grace period on two unpaid foreign bonds ends on Wednesday, the latest blow to a country rattled by economic pain and social unrest. Prime Minister Ranil Wickremesinghe, who was appointed last week following violent unrest, will provide a “full explanation” of Sri Lanka’s financial crisis on […]
Stability of foreign exchange rates was in their eyes a mischief, not a blessing
Prime Minister Ranil Wickremesinghe says the draft 21st Amendment to the Constitution will be taken up for discussion today and then be presented to Cabinet for approval.
Net other operating income was loss of 12.2 billion rupees, loan loss provisions were down
Prime Minister Ranil Wickremesinghe held discussions with the country representatives of the World Bank and the Asian Development Bank regarding the current economic crisis in the country.
Prime Minister Wickremesinghe says the Government is facing an immediate challenge of securing funds to pay for the fuel requirement for this coming week. He said that due to the dollar shortages in the banks, the Government is now exploring other options of securing the necessary funding. Meanwhile, Prime Minister Ranil Wickremesinghe held discussions with […]