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Sri Lanka s new Prime Minister Ranil Wickremesinghe said on Tuesday he will present an interim budget within six weeks, slashing infrastructure projects to re-route funds into a two-year relief programme for the crisis-hit island nation.
Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing
Normal and expected levels in the Port of Colombo, despite the economic and political crisis
Australia’s cricketers have raised ethical concerns about touring Sri Lanka at a time the people are suffering with power cuts and other issues. However, according to the Australian Associated Press the players have said they will support a decision from officials to precede with next month’s tour. Australia are due to fly out to Sri Lanka […]
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 World Health Organization (WhO) has assured its fullest support for Sri Lanka to come out of the ongoing medical crisis.
The United Kingdom (UK) has encouraged all sides in Sri Lanka to find a democratic and inclusive approach to resolving the current political and economic challenges. Parliamentary Under-Secretary at the Foreign, Commonwealth and Development Office in the UK, Vicky Ford, said that the UK is closely following the situation in Sri Lanka since the attacks […]
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
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 […]
Average Sri Lankans are struggling meet the ends with sharp increase in prices of cooking gas amid shortage.
The national carrier has racked up losses of 372 billion rupees since management control
[…]The post Sri Lanka’s Foot-Fighting Struggle & Postmodern Style appeared first on Colombo Telegraph.
[…]The post 1972: A Majoritarian Constitution appeared first on Colombo Telegraph.
Revenues at Rs5.6bn expenses are Rs9.6bn
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 […]
Work from home has been encouraged from today to manage the energy crisis and minimize the use of fuel. Power and Energy Minister Kanchana Wijesekera said that the public sector workforce will be called to work on the direction of the head of the institute from today. “Work from home will be encouraged to minimize […]
Sri Lanka has hired Lazard and Clifford Chance as financial and legal advisers respectively to represent the Government in talks with international creditors, three sources familiar with the situation said. The sources asked not to be named because talks are private. A spokesman for Clifford Chance did not immediately reply to a request for comment. […]
[…]The post Interim Government For Reform Not Consolidation appeared first on Colombo Telegraph.
Motorists around the country have queued for fuel, but the government was unable to supply.
A shortage of medicine caused by an economic crisis in Sri Lanka could soon cause deaths, doctors said, as hospitals are forced to postpone life-saving procedures for their patients because they do not have the necessary drugs.
[…]The post The Politics Of Default appeared first on Colombo Telegraph.
[…]The post Need For Changing The Awful Old System appeared first on Colombo Telegraph.
In our expectations the economy will contract at the highest rate than in any other year in history
Investor concerns over economic recovery still remains
It is necessary that the policymakers do not make the mistake of not listening to the experts in the industry
Cabraal kept the exchange rate artificially steady while spending reserves for foreign debt repayment.
Sri Lanka, going through a crippling forex crisis, was facing severe fuel shortages over the weekend.