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[…]The post New CBSL Act – Monetary Policy – Interest Rates Et Al. appeared first on Colombo Telegraph.
Oil prices have jumped on concerns that the situation in Israel and Gaza could disrupt output from the Middle East. Brent crude, the international benchmark, climbed by $2.25 a barrel to $86.83, while US prices also rose. Israel and Palestinian territories are not oil producers but the Middle Eastern region accounts for almost a third […]
[…]The post Misconceived Resilient Economy Needs Fixing By Restoring Broken Supply Chains appeared first on Colombo Telegraph.
Friday 6th October, 2023 President Ranil Wickremesinghe’s recent interview with Deutsche Welle (DW), in Berlin, has been trending in the digital realm—not for all the right reasons, though. Thanks to it, the genre of interrogative interview has apparently taken on a whole new meaning, with the interviewee aggressively interrogating the interviewer! There was obviously much […]
By Neville Ladduwahetty President Ranil Wickremesinghe eloquently outlined the current global economic crisis affecting the developing world, in particular the Global South, during his speech at the Berlin Global Dialogue. In the course of his presentation he conveyed the fact that while the developed countries may have the strength and resources to weather the challenges, […]
Sri Lanka's central bank resumed interest rate cuts on Thursday to boost growth and as the government seeks to lift revenue and repair its balance sheets in a bid to secure continued financial support from the International Monetary Fund.The post Sri Lanka resumes rate cuts to boost growth as inflation cools appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Sri Lanka At A Crossroads: The IMF’s 16-Point Prescription For Reform appeared first on Colombo Telegraph.
The Sri Lanka Freedom Party (SLFP) is desperate to reach a consensus with political parties in the Opposition. But the Opposition is very much reluctant to do so due to the SLFP leader Maithripala Sirisena’s fickle past and now again under intense fire over the 2019 Easter Sunday attack. Field Marshal Sarath Fonseka, no stranger […]
The World Bank revised up its forecasts for Sri Lanka's economy on Tuesday, noting the crisis-hit nation had made strides in reducing inflation and had benefited from tourism revenue as well as an appreciation in its currency.The post World Bank boosts Sri Lanka economic forecasts after inflation progress appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The US government said a bondholder’s lawsuit against Sri Lanka over the country’s historic debt default should be put on hold.The post Sri Lanka Bondholder Lawsuit Should Be Put on Hold, U.S. Says appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Are We Rotting Or Rotten? appeared first on Colombo Telegraph.
The International Monetary Fund (IMF) has recommended sixteen priority actions in its recently released Governance Diagnostic Assessment (GDA) on Sri Lanka to address systematic and severe governance weaknesses and deep-rooted corruption vulnerabilities across State functions in order to unlock the country’s growth potential.The post IMF unveils 16-point plan to address governance challenges in Sr...
[…]The post Has The Economy Been Assassinated & If So, Who Were The Assassins? appeared first on Colombo Telegraph.
The West has labeled China’s Belt and Road Initiative as a cohesive program, and the participating countries like Sri Lanka are looked upon with suspicion, President Ranil Wickremesinghe said on Thursday (28) at the Berlin Global Conference. “This will further hurt economic prospects in the global South, and the polarization will become more evident,” he […]
By SHIHAR ANEEZ ECONOMYNEXT –Sri Lanka’s second tranche of a $3 billion loan from the International Monetary Fund is likely to be delayed as the country has failed to meet the program objective and a global lender’s official said there is no fixed timeline on the disbursement of second tranche. Sri Lanka’s government revenue is likely […]
Fitch Ratings upgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘RD’ (Restricted Default), in its latest report.Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. The Long-Term Foreign-Currency IDR has been affirmed at ‘RD’ and the Country Ceiling at ‘B-‘. ...
[…]The post Only A Unified Approach Can Solve The Economic Crisis appeared first on Colombo Telegraph.
Negotiations to secure the second tranche of funding from the International Monetary Fund (IMF) to Sri Lanka are progressing positively, Acting Finance Minister Shehan Semasinghe announced.The post Sri Lanka’s acting finance minister says positive progress in securing second IMF tranche appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9bn bailout package, due to a potential shortfall in government revenue generation, Al Jazeera has reported, quoting the lender. Speaking after a two-week visit to the country, IMF delegation head Peter Breuer on Wednesday said a […]
President Ranil Wickremesinghe delivering the opening speech at the ‘Berlin Global’ Dialogue in Berlin, Germany, today (28), expressed the need for a comprehensive dialogue between Western nations and China, the United States of America and China and the European Union and China, as a critical component of a robust international plan capable of addressing the […]
Sri Lanka’s Minister of State for Tourism Diana Gamage announced plans to launch promotional campaigns aimed at attracting 1.5 million foreign tourists to Sri Lanka by the year’s end.The post Sri Lanka to launch campaigns to attract 1.5 million tourists – proposal to create non-sleeping cities appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund (IMF) says despite early signs of stabilization, full economic recovery in Sri Lanka is not yet assured. Growth momentum remains subdued, with real GDP in the second quarter contracting by 3.1 percent on a year-on-year basis and high-frequency economic indicators continuing to provide mixed signals. Reserve accumulation has also slowed in […]
Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on Wednesday citing people familiar with the matter. The members want the group of major creditors, including the US, Japan and India, to sign a memorandum […]
The International Monetary Fund (IMF) mission team concluding its visit to Sri Lanka said that despite early signs of stabilization, full economic recovery is not yet assured.The post Despite signs of stabilization, full economic recovery not yet assured – IMF Mission appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund is concerned about a shortfall in revenue collection by Sri Lanka’s government this year, though that is unlikely to derail a $2.9 billion loan programme for the crisis-hit country, two Sri Lankan sources told Reuters.The post Sri Lanka’s revenue shortfall concerns IMF team – sources appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stor...
Over 200 corporate leaders attended the second Economic Forum sponsored by HSBC recently which was to discuss and share insights into the latest global trends and opportunities emerging for economic growth in Sri Lanka. Frederic Neumann, HSBC’s Chief Asia Economist and Co-Head of Global Research for HSBC Asia along with Aayushi Chaudhary, HSBC Economist for […]
[…]The post Target 2048 – Complex Economy System appeared first on Colombo Telegraph.
The Philippines has accused China of installing a “floating barrier” to stop fishing boats from entering a disputed area in the South China Sea. The Philippines’ coast guard said the 300m (1,000ft) obstacle was preventing fishermen from working in a lagoon in the Scarborough Shoal. China claims more than 90% of the South China Sea […]
By Sanath Nanayakkare The Global CEO Forum Sri Lanka held at the Galadari Hotel on Thursday showed a clear shift of discussion topics by Sri Lankan business leaders compared to what they were talking about just a year ago. Completely deviating from airing worries about how to run their businesses amid economic turmoil, business leaders […]
[…]The post Ambiguity Of National Evaluation Policy In Sri Lanka? appeared first on Colombo Telegraph.