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[…]The post The Politics Of Default appeared first on Colombo Telegraph.
In our expectations the economy will contract at the highest rate than in any other year in history
The Committee on Public Finance has summoned officials of the Central Bank of Sri Lanka (CBSL). CBSL has been summoned before the Committee on Public Finance tomorrow (24) at 10.00 a.m. The Committee on Public Finance, chaired by Member of Parliament Anura Priyadarshana Yapa, decided to summon the Governor of the Central Bank, the Secretary […]
The Central Bank of Sri Lanka (CBSL) has been summoned before the Committee on Public Finance tomorrow (24) at 10.00 a.m.
An overseas travel ban imposed on the former Governor of the Central Bank, Ajith Nivard Cabraal, has been extend until 25 July. The Colombo Magistrate’s Court extended the ban when the case was heard today. The ban was imposed over a case filed by former Southern Province Governor Rajitha Keerthi Tennakoon. The former Central Bank Governor […]
Cabraal kept the exchange rate artificially steady while spending reserves for foreign debt repayment.
Cabraal has been prevented leaving the country from April 7
Forex shortage disrupt energy supplies to industries
Moscow [Russia], May 20 (ANI): The Russia-Ukraine war has reaped massive economic benefits for China and the country has even “profited from Russia’s misfortune”. Chinese officials view the sanctions given by the Foreign Ministers of G-7 countries against Russia as economic opportunities. According to US Commerce Secretary Gina Raimondo, Chinese technology exports to Russia have […]
Nairobi [Kenya], May 20 (ANI): Kenya’s debt obligations towards China have shot up by a staggering 135.15 per cent in the last one year on the back of Chinese-funded infrastructure projects in the African country. Expenditure data published this week by the Treasury shows the amount repaid to Chinese lenders has surged by 135.15 per […]
By Nick Beake Billions of dollars of Chinese money are boosting some European economies – but some of the deals being struck have a catch. Critics say they are “debt traps”, where China gets to choose what happens if loans aren’t repaid. China insists it is a reliable investment partner – but it is also […]
The Colombo Magistrate s Court has extended the foreign travel ban imposed on former Central Bank Governor Ajith Nivard Cabraal until July 25.
[…]The post Child’s Guide To Currency Board Systems: Steve Hanke’s Crusade For Currency Boards appeared first on Colombo Telegraph.
Delays in banks releasing dollars could spoil food
All three institutions are adopting a co-ordinated approach to sustain basic services and livelihoods
The debt was repaid in 2021 by running down foreign reserves and putting the central bank in debt
[…]The post Fifty Years As A Republic: The Making Of The 1972 Constitution appeared first on Colombo Telegraph.
It has 90,000 metric tonnes of Siberian Light Crude
Money printing triggers excess outflows, forcing the currency down and triggering parallel exchange rates
[…]The post Hold Elections & Avert A Dual-Power Crisis appeared first on Colombo Telegraph.
India extended an additional USD 500 million credit line to help Sri Lanka import fuel as the country has been struggling to pay for imports after its foreign exchange reserves plummeted sharply in...Click on the headline to read the full story
The World Bank, the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) have announced their decision to support Sri Lanka s response to the ongoing economic crisis.
[…]The post A Cabinet Of Patriotic Opportunists appeared first on Colombo Telegraph.
Non-oil imports fell 17.7 percent to 1,299.1 million US dollars in March 2022
The new government yet come up with some concrete steps to come out of Sri Lanka's unprecedented economic crisis
[…]The post Could A ‘National Government’ Resolve The Crisis? appeared first on Colombo Telegraph.
[…]The post Causes Of Economic Crisis In Sri Lanka & Lessons For A New Age appeared first on Colombo Telegraph.
The Committee on Public Finance, chaired by MP Anura Priyadarshana Yapa, Member yesterday (May 19), has decided to summon the Central Bank Governor, the Secretary to the Ministry of Finance and other officials before the committee next week to discuss the current economic crisis and the solutions.
Food suppliers have been willing to extend credit to local importers due to strong relationships spanning generations