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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...
[…]The post Target 2048 – Complex Economy System appeared first on Colombo Telegraph.
[…]The post Glocalization Without Financialization appeared first on Colombo Telegraph.
Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage.The post Sri Lanka pays off $200 million loan from Bangladesh with $4.5 million interest appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage. In the last instalment, Sri Lanka paid about $50 million and $4.5 million in interest on the loan on Thursday night, a senior official of Bangladesh […]
[…]The post 117th Birth Anniversary & Long Legacy Of JR Jayewardene appeared first on Colombo Telegraph.
[…]The post Ambiguity Of National Evaluation Policy In Sri Lanka? appeared first on Colombo Telegraph.
[…]The post SL Debt Justice Collective Writes Open Letter To IMF On DDO appeared first on Colombo Telegraph.
Recognises Bank for highest number of transactions in country’s trade and supply chain finance domain between 1 July 2022 and 30 June 2023 The Commercial Bank of Ceylon has once again been declared the Asian Development Bank’s (ADB’s) ‘Leading Partner Bank’ in Sri Lanka for trade and finance transactions, in a significant reaffirmation of the […]
[…]The post The Accuser & The Accused; Is Suresh Sallay In The Cross Hairs Of A Witch Hunt? appeared first on Colombo Telegraph.
[…]The post IMF & Global Debt Crises appeared first on Colombo Telegraph.
The Sri Lanka Delegation, led by President Ranil Wickremesinghe, engaged in high-level discussions with World Bank President Mr. Ajay Banga and other World Bank officials at the World Bank Headquarters (UNHQ) yesterday (September 18).The post Sri Lanka President Ranil Wickremesinghe meets with World Bank Chief Ajay Banga appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
“Our focus is on achieving 70% renewable energy by 2023. This includes 25% from solar panels, 15% from wind power, and 10% from natural gas. However, transitioning the energy mix is a gradual process, requiring meticulous planning and execution. We aim to reach 60% renewable energy by 2026 and eliminate fossil fuel-based electricity generation by […]
The Chinese spy ship ‘Shi Yan 6’ has entered the Malacca strait, bound for Colombo, amid confusion over whether Sri Lanka has granted access for the spy vessel to dock at Colombo. According to reports last month, the Sri Lankan Defence Ministry has granted Shi Yan 6 access to dock at Colombo port. However, the Sri Lankan […]
[…]The post The Apologetic Custodian Of The EPF Is Also A Victim appeared first on Colombo Telegraph.
The country’s economy has contracted at the rate of 3.1% in the second quarter of 2023, according to recent data by the Census and Statistics Department. The Department in its estimated Gross Domestic Product (GDP) for the second quarter of 2023, on Friday said that this economic downturn marked an improvement from the alarming 11.5% […]
Monday 18th September, 2023 Some henchmen of the Rajapaksa family, which is responsible for ruining the economy, have taken upon themselves the task of investigating the causes of the country’s bankruptcy! They are all out to absolve their political masters of wrongdoing in a bid to shore up the latter’s chances of winning future elections. […]
[…]The post Politics Of Easter Investigation In A Wriggling Economy appeared first on Colombo Telegraph.
Global rating agency, Fitch, in its latest report downgraded Sri Lanka’s Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’. In a press release Fitch said the ratings on its local-currency bonds tendered in the domestic debt exchange have been downgraded to ‘D’ from ‘C’ while its other four local-currency bonds […]
Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’.The post Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘RD’ appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The first review of the International Monetary Fund’s Extended Fund Facility (EFF) for Sri Lanka is slated to commence today (September 14).The post First review of IMF’s Extended Fund Facility for Sri Lanka to commence today appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has accepted offers to exchange about $10 billion worth of defaulted local debt for new bonds, the Finance Ministry said on Tuesday, taking it a step towards meeting debt restructuring requirements ahead of an International Monetary Fund (IMF) review.The post Sri Lanka announces $10 billion local bond swap deal ahead of IMF visit appeared first on ONLANKA - Sri Lanka Latest Breaking News...
[…]The post What Is Wrong With The President’s Vision & Mission? appeared first on Colombo Telegraph.
[…]The post System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
By Dr Laksiri Fernando President of Sri Lanka Ranil Wickremesinghe is undoubtedly a capable person compared to many other former Presidents in the country. Chandrika Kumaratunga could have been better, but the circumstances of the war prevented her achieving many of the socio-economic targets. In terms of modernizing the country, J. R. Jayewardene played a […]
[…]The post Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-Sonic’? appeared first on Colombo Telegraph.
Thursday 7th September, 2023 Former Sri Lankan cricketer Sachithra Senanayake has been arrested for spot-fixing. He is alleged to have approached some players during the Lanka Premier League tournament in 2020 and sought to lure them into spot-fixing. Senanayake has denied the allegation against him, claiming that it is part of a sinister campaign to […]
[…]The post Taxation Without Accountability Is Not Sustainable appeared first on Colombo Telegraph.
by Jehan Perera The increase in the price of petrol and diesel has been accompanied by the removal of the QR Code quota system for the purchase of fuel. The elimination of long lines of vehicles, and people, outside of the fuel stations that existed a year ago is one of the signs of normalisation […]
Sri Lanka has repaid another US$100 million of the $200 million loan it took from Bangladesh in a currency swap agreement two years ago. “Sri Lanka has paid back $100 million to us on Thursday (31 August). Now they are expected to return the remaining $50 million in due course,” said Bangladesh Bank (BB) Spokesperson […]