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By Rathindra Kuruwita Central Bank Governor Dr. Nandalal Weerasinghe yesterday told journalists that Sri Lanka was holding discussions with China on debt restructuring and the developments were positive in general.However, the Governor refused to elaborate on discussions with any creditor, stating that specific details of these discussions would affect markets. “We can’t be specific. We [...
[…]The post Is Post-Crisis Essential Reforms Being Effectively Progressed? If Not What Is The Way Forward? appeared first on Colombo Telegraph.
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 05 October 2022, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 percent and 15.50 percent, respectively.The post Central Bank of Sri Lanka maintains policy interest rates unchanged appeared first on Sri Lanka N...
The card can be topped up in increments of 50 US dollars up to US$300
A high probability that inflation will peak around 75-pct and start to fall
A look at global debt statistics would show that almost all countries, irrespective of their economic status, obtain loans. The USA, the second richest country on the basis of PPP index, has a debt burden of more than 100% of their GDP, which is much more than some of the developing countries such as Brunei […]
CPC trade unions oppose the move citing that the government is privatizing the state-run firm
Sri Lanka's central bank is likely to maintain interest rates on Thursday in an effort to get a grip on inflation which has remained stubbornly high despite a sharp contraction in the crisis-hit economy.The post Sri Lanka Central Bank to hold rates as inflation worries persist appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Politics Of Protests appeared first on Colombo Telegraph.
[…]The post Give Amnesty To Protestors As Next Step appeared first on Colombo Telegraph.
By Jehan Perera None too soon, President Ranil Wickremesinghe appears to be putting the brakes on the government’s policy of repression in dealing with public protests. His decision to initially sign the Gazette notification declaring key areas of Colombo to be High Security Zones was roundly criticised by human rights organisations including the Human Rights […]
[…]The post Human Rights Compliant Recovery Measures Critical To Stop Spiraling Hunger & Poverty In Sri Lanka: Amnesty International appeared first on Colombo Telegraph.
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
Ceylon Petroleum Corporation owes around $800 million to foreign suppliers for fuel.
A key measure of Sri Lanka's consumer inflation surged to an annual record 69.8% in September, official data showed on Friday, highlighting the challenge for the central bank as the island reels under its worst financial crisis in seven decades.The post Sri Lanka’s key inflation rate surges to record, keeps central bank pressured appeared first on Sri Lanka News - Latest Breaking News in Sri...
Sri Lanka is struggling to secure dollar earnings and that has threatened its fuel, gas imports.
[…]The post How We Came To This Pass – The Aragalaya Challenge appeared first on Colombo Telegraph.
[…]The post Child’s Guide To Ranilnomics: Proposed Debt Restructuring Will Pose More Issues Than Answers appeared first on Colombo Telegraph.
The UK is providing urgent food and farming support to Sri Lankans hit hardest by the economic crisis, UK Minister of State for the Middle East, South Asia, and the UN, Lord Tariq Ahmad of Wimbledon said. More than one third of people are struggling to eat and are suffering shortages of fuel, power, and […]
The country has lost several hundred thousand jobs to Covid-19. The impact of the agrochemical ban on agriculture, the mismanagement of the exchange rate, a highly accommodative monetary policy, and the use of foreign exchange reserves for debt repayment thwarted the country’s ability to recover from the initial shock of COVID-19, an ILO study titled, […]
Japan, one of Sri Lanka's main creditors, will back the South Asian nation as it seeks to restructure about $30 billion of its foreign debt and find a way out of a crippling economic crisis, Tokyo's envoy to the country said on Friday.The post Japan to support Sri Lanka’s debt restructuring negotiations appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Japan, one of Sri Lanka’s main creditors, will back the South Asian nation as it seeks to restructure about $30 billion of its foreign debt and find a way out of a crippling economic crisis, Tokyo’s envoy to the country said on Friday. Reaching an agreement with creditors is key to Sri Lanka securing a […]
Crisis-hit Sri Lanka will begin on Friday the tricky task of debt renegotiation with a raft of private and bilateral creditors, including China, India and Japan, to restructure and repay nearly $30 billion that it owes.The post Sri Lanka set to begin talks to restructure debt of $30 Billion appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Another Open Letter to the Minister of Agriculture Mr. Minister, It appears that you are being lobbied by various individuals with an eye of promoting toxins and fossil additives into agriculture with seemingly no concern to the well being of our population. The writer quotes, ‘This has been best put by Bombastus Paracelsus (1493 -1541), […]
Wickremesinghe also met King Charles III on Sunday September 18.
(PTI) The Sri Lankan government will virtually brief all its external creditors, on September 23, on the deal agreed with the International Monetary Fund (IMF) for the economic recovery and the next steps in the debt restructuring process. On September 1, the IMF reached a staff-level agreement to support Sri Lanka’s economic policies with a 48-month arrangement […]
Investor sentiment has turned buoyant after IMF comments
A food crisis in Sri Lanka looms as the island nation faces its worst economic disaster in decades. With food price inflation higher than 90%, even staples like rice have become almost unaffordable for many Sri Lankans. The World Food Programme (WFP) estimates that about 30% of the population is food insecure and that one out of […]
‘IMF won’t maintain ministers, excess staff’ By Shamindra Ferdinando Dissident SLPP MP Prof. G. L. Peiris has alleged that the failure on the part of Parliament to fulfil one of its primary obligations, namely the responsibility for public sector finance caused the current crisis. The incumbent government had been compelled to seek the International Monetary […]
Shares have been on the rise mainly on positive sentiment after the IMF comments.