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They brought the proposal (in 2020) that Financial Advisors have to be appointed to make debt sustainable.
By Easwaran Rutnam The United Kingdom (UK) is in talks with Paris Club members on potential solutions to Sri Lanka’s unsustainable debt. The Paris Club is a group of officials from major creditor countries whose role is to find co-ordinated and sustainable solutions to the payment difficulties experienced by debtor countries UK Parliamentary Under-Secretary at […]
Central Bank of Sri Lanka Implements Extraordinary Measures to Support the Banking Sector
By Easwaran Rutnam The Committee on Public Enterprises (COPE) has proposed appointing a special Parliament Select Committee to probe the causes behind the economic crisis. COPE has also proposed investigating the officials and others who neglected their duties and are responsible for the crisis. The proposal was made at the COPE meeting held today. COPE […]
Analysts expect market to fall with government's expected fiscal consolidation plan
The central bank has tightened the monetary policy, allowed sharp depreciation in the rupee to attract dollar inflows
No request has been made to return to central bank
“What the international community is looking for is long-term policy credibility and sustainability."
Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing
Regional plantation companies and smallholders are harvesting green leaf and arranging deliveries
Senior creditors, central bank obligations to be serviced
The World Bank on Tuesday said it is not planning to provide any new financing to cash-strapped Sri Lanka until an adequate economic policy framework has been put in place.The post No new financing...Click on the headline to read the full story
The World Bank has ruled out new financing to Sri Lanka until an adequate macroeconomic policy framework is in place. Issuing a statement, the World Bank said that recent media reports have inaccurately stated that the World Bank is planning support for Sri Lanka in the form of a bridge loan or new loan commitments, […]
The World Bank on Tuesday said it is not planning to provide any new financing to cash-strapped Sri Lanka until an adequate economic policy framework has been put in place.
USAID Administrator Samantha Power has assured Prime Minister Ranil Wickremesinghe USAID support. USAID Spokesperson Rebecca Chalif said that Power held a call with Prime Minister Ranil Wickremesinghe to discuss how USAID is responding to the country’s political and economic crises. Administrator Power expressed her sympathy for those Sri Lankans who were killed or injured in the […]
Sri Lanka's 2022 economic growth will see the worst ever contraction in its history - CB chief
The USAID will closely work with other donors such as the International Monetary Fund (IMF), the World Bank, G7 countries, and other stakeholders to support Sri Lanka during this extraordinarily difficult period, the agency s administrator Samantha Power has assured Prime Minister Ranil Wickremesinghe.
Sri Lanka state run and private bus fares will go up by an average of 19.5 percent
Central bank has relaxed its guidance margin to 3.00 rupees from 2.50 rupees.
Banks face mark-to-market losses as well as bad loans from soft-peg crisis
The United Nations (UN) has assured assistance to Sri Lanka in addressing the current economic challenges. Foreign Minister Prof. G. L. Peiris met the UN Resident Coordinator in Colombo, Hanaa Singer- Hamdy to discuss multiple impacts arising out of the current economic situation in the country such as supply of essential items, concerns regarding food […]
Obtaining a series of short – term loans for the purchase of petroleum products under the assistance of Indian export – import bank.
Sri Lanka will obtain another short-term loan facility of USD 500 million from the Export-Import Bank of India (EXIM Bank) to purchase petroleum products, the government says.
Revenues at Rs5.6bn expenses are Rs9.6bn
Sri Lanka decided to default on debt on April 12
Inflation likely to stay around 30-40 pct in the near term
Experts say, “The lack of cooperation by Beijing would complicate the debt recovery journey of Sri Lanka”. The magnitude of the economic crisis that Sri Lanka is facing has reached catastrophic proportions. The whole world is astounded by the rampant mismanagement beyond the comprehension of anybody. Once an economic model of Asia, is now reeling […]
The Central Bank of Sri Lanka (CBSL) has been summoned before the Committee on Public Finance today (24) at 10.00 a.m.
Motorists around the country have queued for fuel, but the government was unable to supply.