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[…]The post SL Debt Justice Collective Writes Open Letter To IMF On DDO appeared first on Colombo Telegraph.
[…]The post The Apologetic Custodian Of The EPF Is Also A Victim appeared first on Colombo Telegraph.
[…]The post Politics Of Easter Investigation In A Wriggling Economy appeared first on Colombo Telegraph.
Manusha Nanayakkara, the Minister of Labour and Foreign Employment, confirmed that the existing 9% employee benefit related to the Employee Provident Fund will remain unchanged.The post No harm to the Employee Provident Fund – Manusha appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Shihar Aneez ECONOMYNEXT –The Central Bank of Sri Lanka (CBSL) informed the members of the EPF, the country’s largest pension scheme, that it has opted for the government’s domestic debt optimization (DDO) option with a long-term view in the best interest of the members. It said the two options given to the EPF under […]
The Employees Provident Fund (EPF) has submitted an offer to exchange the portfolio of their Treasury Bonds under the Domestic Debt Optimisation (DDO) programme, the Central Bank of Sri Lanka (CBSL) reported today (13 Sep.).
[…]The post System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
[…]The post The Misunderstood Taxation Of EPF & Other Superannuation Funds appeared first on Colombo Telegraph.
When the five days long stretch of holidays ended last week and the Colombo bourse reopened for trading on Tuesday, the market surged 6.71 percent (633.69 points up) on the broad All Share Price Index (ASPI) while the Standard and Poor SL 20 index covering the 20 largest and more liquid companies quoted on the […]
By Rathindra Kuruwita Unless Sri Lanka addressed its governance issues, the country would have to restructure its debt again like most countries that had unsustainable levels of corruption, Executive Director of Verité Research Nishan de Mel said in a recent televised interview. Dr. De Mel said that as the government had decided to pay the […]
[…]The post Involuntary & Inequitable DDO appeared first on Colombo Telegraph.
Sri Lankan state can’t allow even a small bank to collapse because that will trigger a bank run with a devastating impact on the economy. Governor of the Central Bank of Sri Lanka CBSL) Dr. Nandalal Weerasinghe said, on Thursday night, taking part in a televised discussion. Dr. Weerasinghe said that Domestic Debt Restructuring (DDR) […]
Banks, which pay taxes over 50%, least affected By Sanath Nanayakkare If the Employees’ Provident Fund (EPF) and other pension funds did not wish to participate in the proposed domestic debt restructuring process, there will be an application of higher annual income tax of 30%, Central Bank Governor Dr. Nandalal Weerasinghe said yesterday. The EPF […]
[…]The post Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? appeared first on Colombo Telegraph.
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
[…]The post Can Sri Lanka Drive Itself From Bankruptcy To Prosperity In 2023? appeared first on Colombo Telegraph.
Fear of a DDR/IFR event drive rates even higher
[…]The post JR & Expert Advice: Failing To Implement Goh Keng Swee Report Of 1980 appeared first on Colombo Telegraph.
Currency depreciation inflates an economy and imposes a 'hair cut' on domestic debt by reducing purchasing power
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
2014 T Bond Yield Goes Below One Year T Bill Rate In Secondary Market The rupee further strengthened at Friday’s (September 21) trading due to a mix of sluggish import demand and possible foreign investment in the Government Bond market, a source told this newspaper. As a result, the exchange rate (ER) strengthened by 25 ...
Last week’s weekly Treasury (T) Bill auction saw yields continuing with their upward ascent, with the weighted average yields (WAYs) for 182 and 364 day T Bills rising by seven and four basis points (bps) to 13.02% and 13.27% respectively. However the WAY for the 91 day T Bill stagnated at the 11.36% level, which ...
But Market’s Illiquid Status Of Such, Drawback In a depressed market, such as that which is facing the Colombo bourse today, the time however is ripe for investors to buy good stocks at bargain prices an economist said. Amal Sanderatne, Director, Frontier Research (Pvt.) Ltd., addressing a seminar on the economy with a focus on ...
“The demoralising, destructive character of the patriotic degeneracy….” Sebastian Haffner (Germany: Jekyll and Hyde) By Tisaranee Gunasekara It was the Oxford Debacle all over again. The events were drearily predicable. Sri Lanka, like every Commonwealth nation, received an invitation for the Diamond Jubilee celebrations of Queen Elizabeth II. President Rajapaksa, unlike most Commonwealth leaders,...
By Ashwin Hemmathagama The scandalous share transaction between the National Savings Bank (NSB) and The Finance Company PLC (TFC) took a new turn last week, with United National Party Member of Parliament Dr. Harsha de Silva highlighting other questionable stock market activities involving the Employees’ Provident Fund (EPF). Ceylon Grain Elevators PLC, Laugfs Gas PLC ...
Avurudhu Rupee Commitments Bear on Exporters The exchange rate (ER) held at the Rs. 130 levels to the US dollar ($) at Wednesday’s, Thursday’s and Friday’s trading as exporters began encashing their $ proceeds to meet their local commitments, a market source told this reporter. “In the event they persisted in holding on to their ...