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President Gotabaya Rajapaksa’s two years in office – a period of unprecedented political turmoil, uncertainty and further deterioration of Parliament – should be thoroughly examined. In fact, the UNP, with the support of the then President Maithripala Sirisena, paved the way for Gotabaya Rajapaksa’s candidature, at the 2019 presidential election, by blocking Mahinda Rajapaksa’s path […...
After the collapse of the Sri Lankan economy, attention has turned to the state of affairs in other South Asian countries such as Pakistan, Bhutan and Bangladesh. All three countries have either curtailed imports or are planning to do so, to salvage their fast-depleting foreign exchange reserves and avoid a Lanka-like forex crisis. While the […]
Dinesh Weerakkody has been appointed Chairman of the Colombo Port City Economic Commission, the main authority managing the Colombo Port City project. Hatton National Bank and Commercial Bank of Ceylon former Chairman Dinesh is the Vice Chairman of the Employers’ Federation of Ceylon, Immediate Past Chairman International Chamber of Commerce Sri Lanka and the Vice Chairman […]
Sri Lanka is considering a restructure of local and sovereign debt, President Ranil Wickremesinghe said on Friday, as the island nation battles its worst financial crisis in its independent history.The post Sri Lanka considering restructure of local and sovereign debt appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
by Chandre Dharmawardana, chandre.dharma@yahoo.ca. The forex crisis had forced the government to jettison its initial set of economic managers of the Central bank who looked for home-grown solutions and opposed dealing with the International Monetary Fund (IMF). The President re-instated a set of managers whose ideas were more orthodox and aligned with the neo-liberal bankers […]
By Anupama Rajput Sri Lankan Lawmakers voted in acting President Ranil Wickremsinghe as the new President on July 20. The six-time Prime Minister was able to garner 134 votes in the 225-member parliament, despite public anger with the ruling elite in the hope that his long experience in government could help pull the country out […]
Developments in Sri Lanka underline the risk of destabilising social and labour unrest throughout Asia-Pacific because of rising living costs impacting the region, S&P Global Market Intelligence said. Countries with similarly weak economic fundamentals and/ or poor economic policies have reduced resilience to external shocks, such as the COVID-19 pandemic, the Russia-Ukraine conflict, high oil...
Sri Lanka has asked China to help with trade, investment and tourism to help it grow sustainably, Colombo's envoy to Beijing said on Monday as it negotiates for an emergency $4 billion package to help it emerge from an economic meltdown.The post Sri Lanka asks China for help with trade, investment and tourism appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Sri Lanka Latest News...
The International Monetary Fund hopes to complete rescue talks with Sri Lanka “as quickly as possible,” Managing Director Kristalina Georgieva said on Wednesday, hours before the crisis-hit South Asian nation elected a new president. Speaking with Nikkei Asia in Tokyo, Georgieva said the fund was “very deeply concerned about the well-being of the people in […]
The International Monetary Fund hopes to complete rescue talks with Sri Lanka "as quickly as possible," Managing Director Kristalina Georgieva said on Wednesday, hours before the crisis-hit South Asian nation elected a new president.The post IMF hopes to complete Sri Lanka aid talks ‘as quickly as possible’ appeared first on ONLANKA News - Sri Lanka News - Latest News in Sri Lanka - Br...
[…]The post The Lost Revolution appeared first on Colombo Telegraph.
Inflation is expected to hit 70 per cent by the end of the year and experts warn SMEs will be the worst hit
[…]The post Growth in Sri Lankan Yacht Charter Industry Looks Promising for the Future appeared first on Colombo Telegraph.
"Because we have a threat of risk to the banks as well."
Sri Lanka is desperate for foreign currency earnings through tourism
[…]The post Sri Lanka – From A Failed To Pseudo Mafia State? appeared first on Colombo Telegraph.
"We need to bounce back and bounce back fast,” said Cooray.
[…]The post Mission Impossible appeared first on Colombo Telegraph.
By Anjana Pasricha NEW DELHI — In Colombo, Sri Lanka’s capital, a sprawling port city showcased as a financial hub to rival Dubai is being set up on 269 hectares of land dredged from the sea. It is the latest of the huge Chinese-funded infrastructure projects in the island country that include a port and […]
The United Kingdom (UK) says it recognises the economic challenges that Sri Lanka is facing. UK Foreign Office Minister Vicky Ford said the UK is closely monitoring the economic situation in Sri Lanka, including foreign exchange data reported by Central Bank of Sri Lanka and Sri Lankan authorities. In a written response to the UK […]
Monetary meltdown worsens as money printed to keep rates down and pay state worker salaries
[…]The post Why I Don’t Support The Aragalaya appeared first on Colombo Telegraph.
Phase 01 to go live on June 21
O’Neil had also explained her administration's policy regarding maritime security and human smuggling, it said.
[…]The post Short Term Plan, Long Term Communication appeared first on Colombo Telegraph.
Sri Lanka has informed the UN High Commissioner for Human Rights Michelle Bachelet that an invitation to undertake an official visit to Sri Lanka extended previously, still stands. Minister of Foreign Affairs Prof. G.L. Peiris met the High Commissioner as well as the Secretary General of the International Federation of the Red Cross and the […]
Passenger transport, goods transport hit
[…]The post A Country In Peril While The Executive Experiments appeared first on Colombo Telegraph.
[…]The post Why Should The United States Care About Sri Lanka’s Predicament? appeared first on Colombo Telegraph.
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed Prime Minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]