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A Sri Lankan man accused of stealing almost $250,000 meant for 10 high-profile international cricketers to take part in local competitions in Melbourne s south-east allegedly siphoned the money from his employer s bank account over more than a year, Australian media reported.
Sri Lanka’s worries are increasing as China has not agreed to debt restructuring modalities as per the International Monetary Fund’s requirements, which is essential for the multilateral funding organisation before it green signals a $2.9 billion bailout package to the crisis-hit island country in mid-December. In October, Sri Lankan President Ranil Wickremesinghe told his country’s […]
- China cautions Sri Lanka on IMF deal (Category: Breaking News)
- Bad news for Beijing: Colombo will not allow China to use Sri Lanka as base to threaten India (Category: Breaking News)
- Sri Lanka must avoid China’s debt restructuring as Beijing is to seek preferential treatment (Category: Breaking News)
- Sri Lankan economy v/s humungous Chinese loans (Category: Breaking News)
Sri Lanka owed Chinese lenders $7.4 billion - nearly a fifth of its public external debt - by the end of last year, calculations by the China Africa Research Initiative (CARI) published on Wednesday showed, an estimate higher than many others.The post Sri Lanka’s debt to China close to 20% of public external debt – study appeared first on Sri Lanka News - Latest Breaking News in Sri La...
- Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data (Category: Breaking News)
- China’s EXIM bank offers Sri Lanka debt extension – report (Category: Breaking News)
- India ‘strongly supports’ Sri Lanka debt restructuring plan, it tells IMF (Category: Breaking News)
- Paris Club proposing a 10-year moratorium on Sri Lanka’s debt – Report (Category: Breaking News)
By Shamindra Ferdinando Former Foreign Minister Prof. G. L. Peiris has questioned the rationale behind President Ranil Wickremesinghe’s warning that the military will be deployed to curb protest vis-a-vis a Foreign Ministry undertaking to boost foreign trade and investment. Addressing the Parliament, during the Budget committee stage debate, on 28 Nov., Prof. Peiris said the […]
- Minister GL to represent President at CHOGM in Rwanda (Category: Breaking News)
- GL: Cost of living intolerable, street protests inevitable (Category: Breaking News)
- Sri Lanka remains open to engaging with diaspora community - Foreign Minister (Category: Breaking News)
- Opposition: Parliament prorogued to derail finance committee probes (Category: Breaking News)
By MAHINDA PANAPITIYA Irrigation Engineer who has worked for Mahaweli Project since 80s As originally planned, the present phase of the Mahaweli Project should be focused on social and economic development of the families settled in Mahaweli areas. It could be done by promoting food production in a sustainable way, to gain the return on […]
- Strategy to mobilise farming communities to overcome future dependency on foreign loans (Category: Breaking News)
- High grade milch cows to be imported (Category: Breaking News)
- Irrigation Dept. asks for more water from Mahaweli reservoirs to save paddy cultivation (Category: Breaking News)
- Mahaweli Project – North Central Province canal: A tunnel in the wilderness? (Category: Breaking News)
Sri Lanka’s inflation is expected to significantly cool in the coming months after peaking near 70% this year, and the nation may gradually relax a currency band as inflows improve, central bank governor Nandalal Weerasinghe said.The post Sri Lanka’s inflation expected to significantly cool in the coming months – CBSL Governor appeared first on Sri Lanka News - Latest Breaking News in ...
- Sri Lanka’s headline inflation may rise to 70% in coming months – Central Bank of Sri Lanka (Category: Breaking News)
- Sri Lanka central bank chief: monetary policy transmission still incomplete (Category: Breaking News)
- Sri Lanka to introduce new central bank law, inflation target (Category: Breaking News)
- Sri Lanka Says Inflation Nears Peak, Easing Pressure on Economy (Category: Breaking News)
[…]The post Who Has Printed The Biggest Quantity Of Money? Lakshman, Cabraal Or Nandalal? appeared first on Colombo Telegraph.
- A Child’s Guide To Currency Board Systems: The Performance Of Ceylon’s Currency Board (Category: Breaking News)
- A Child’s Guide To Currency Board Systems: Has The Monetary Board Failed The Nation? (Category: Breaking News)
- Four Popular Fallacies Relating To Central Banking (Category: Breaking News)
- Central Bank Independence: Issue To The Fore Again, But Will The Government Have Foresight To Do... (Category: Breaking News)
The dramatic fuel shortages that accompanied mass protests in Sri Lanka earlier this year may have eased, but for millions of Sri Lankans the economic crisis is worse than ever, said a report by the Amnesty International. It said: This month, the United Nations renewed a humanitarian appeal, stating that 28 percent of the population faces […]
- India s Adani Group to run three Sri Lankan airports? (Category: Breaking News)
- International rights groups slam Sri Lanka s flawed plans for a Truth Commission (Category: Breaking News)
- Ankara donates consignment of urgently needed medical supplies to Sri Lanka (Category: Breaking News)
- Rights group: Sri Lankan Tamil women exposed to sexual violence, trafficking after war (Category: Breaking News)
Speech made November 22 I have consistently recorded my opposition to Minister of Finance being the President. From 2010 onwards in this House, whenever the President in his capacity as Minister of Finance has presented a budget I have recorded that protest and I wish to record that today as well. When a person who […]
- Reconstitution of COPE, COPA in limbo (Category: Breaking News)
- BASL: If 21A fails, that will adversely affect future law reform initiatives (Category: Breaking News)
- Interim Budget passed (Category: Breaking News)
- GL: Govt. not concerned about corruption despite Geneva warning (Category: Breaking News)
[…]The post Lanka’s Vanishing Fish: Corporate Capture & Import Dependency Deepen The Debt Trap appeared first on Colombo Telegraph.
- The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid A... (Category: Breaking News)
- Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-So... (Category: Breaking News)
- A French Spring Amid IMF Mission Creep: Ranil Tangoes In Paris As Macron Pivots To BRICS (Category: Breaking News)
- ‘Make The Economy Scream’: Whither The Asian 21st Century? (Category: Breaking News)
Although the prevailing high interest rate regime may discourage investments, Central Bank (CB) Governor Dr. Nandalal Weerasinghe asserted that curtailing inflation is more critical for the survival of businesses over low interest rates and to avert a Zimbabwe-like scenario.The post Curtailing inflation critical to avert Zimbabwe-like scenario – CBSL Governor appeared first on Sri Lanka News...
- Sri Lanka needs to boost entrepreneurship to overcome ongoing crisis – Central Bank Governor (Category: Breaking News)
- CB Governor says biggest bugbear for businesses is high inflation (Category: Breaking News)
- CBSL governor says 2023 Budget focuses on economic recovery and stability (Category: Breaking News)
- Businesses with dollar income sources will only survive this crisis – Central Bank Governor (Category: Breaking News)
Foreign Minister Ali Sabry, PC, has dismissed assertions that China caused the current economic crisis here.The Minister made Sri Lanka’s position clear in an interview with WION’s diplomatic correspondent Sidhant Sibal. Asked whether Minister Sabry believed that the current economic crisis is due to China, its policy of debt crisis, the Minister has said: No, […]
- Sri Lanka hopeful China will provide debt restructuring assurances - Sabry (Category: Breaking News)
- Lanka will discuss debt restructuring separately with China-minister (Category: Breaking News)
- China only observer in Sri Lanka’s debt restructuring platform (Category: Breaking News)
- Sri Lanka notifies Indian rupee as designated currency (Category: Breaking News)
[…]The post What Is To Be Done? – Anura Kumara Dissanayake appeared first on Colombo Telegraph.
- Anatomy Of A Change; From Wijeweera’s JVP To AKD’s NPP (Category: Breaking News)
- The Police & Aragalaya Activists In A Time Of Social Upheaval (Category: Breaking News)
- Government’s Attempt To Redefine The Political Discourse & Direction Through Suppression (Category: Breaking News)
- Restoring Parliamentary Government (Category: Breaking News)
International human rights organisation, Human Rights Watch (HRW) urged Sri Lanka’s major foreign creditors, including China, Japan, and India to help restructure debts and urgently mitigate the adverse human rights impacts of the country’s worst-ever economic crisis.The post Human Rights Watch urges major creditors to help restructure Sri Lanka’s debts appeared first on Sri Lanka News - Lat...
- HRW urges major creditors to help restructure Sri Lanka s debts (Category: Breaking News)
- AI: Lanka at brink of humanitarian crisis (Category: Breaking News)
- Some Sri Lanka creditors seeking debt restructuring deal without China (Category: Breaking News)
- Japan to organize Sri Lanka creditors’ meeting by year-end – report (Category: Breaking News)
By Hiran H. Senewiratne Central Bank Governor Dr. Nandalal Weerasinghe says Sri Lanka is expecting to go to the IMF Board in January 2023 if it misses the December window and is also confident of getting assurance from bilateral creditors soon. “Most probably meeting the IMF target is too optimistic and satisfactory so far but if […]
- Talks between IMF and Sri Lanka kick off (Category: Breaking News)
- Sri Lanka needs to take tough decisions – US Ambassador (Category: Breaking News)
- CBSL chief expresses optimism (Category: Breaking News)
- IMF team to visit Sri Lanka by month-end for staff-level agreement (Category: Breaking News)
Money printing drastically reduced in the first ten months of 2022 in comparison to the entirety of 2021, Dr. Nandalal Weerasinghe, the Governor of the Central Bank of Sri Lanka said today (November 24).The post Sri Lanka’s Central Bank Chief says Money printing has drastically reduced in 2022 appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Money printing drastically reduced in 2022 - CBSL governor (Category: Breaking News)
- Sri Lanka central bank to consider a single policy rate mechanism (Category: Breaking News)
- IMF to visit Sri Lanka in late August for staff-level agreement – Central Bank Governor (Category: Breaking News)
- Sri Lanka to introduce new central bank law, inflation target (Category: Breaking News)
Sri Lanka's central bank on Thursday threatened administrative intervention to control high market interest rates that it regarded as out of line with the inflation outlook.The post Central Bank of Sri Lanka threatens administrative measures over high market interest rates appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka resumes rate cuts to boost growth as inflation cools (Category: Breaking News)
- Sri Lanka Central Bank further reduces policy rates (Category: Breaking News)
- Central Bank of Sri Lanka decided to maintain policy interest rates at their current levels (Category: Breaking News)
- Central Bank of Sri Lanka issues order slashing interest rates on lending products (Category: Breaking News)
Sri Lanka’s gross official reserves were estimated at US dollars 1.7 billion as of end October 2022, including the swap facility from the People’s Bank of China, equivalent to around US dollars 1.4 billion, which has certain conditionalities on usability, the Central Bank of Sri Lanka said today. The Central Bank said that the merchandise […]
- Sri Lankan Rupee depreciates even further against the USD (Category: Breaking News)
- Sri Lanka’s liquid reserves continues to remain significantly low (Category: Breaking News)
- Samarasinghe briefs President Joe Biden (Category: Breaking News)
- Ranil denies meeting Arjuna Mahendran in Singapore (Category: Breaking News)
Nomura Holdings Inc, Japan's top brokerage and investment bank, has warned that seven countries – Egypt, Romania, Sri Lanka, Turkey, Czech Republic, Pakistan and Hungary – are now at a high risk of currency crises.The post Nomura warns seven emerging economies including Sri Lanka face currency crisis danger appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Japanese firm says Sri Lanka among seven countries at high risk of currency crises (Category: Breaking News)
- India commits to help Sri Lanka on debt in prospective IMF program (Category: Breaking News)
- World Bank’s IFC to provide Sri Lanka with $400 million financing (Category: Breaking News)
- IMF says Sri Lanka debt deal could help board clear first bailout review (Category: Breaking News)
Sri Lanka's central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9 billion International Monetary Fund (IMF) bailout to stabilise its crisis-hit economy.The post Sri Lanka to hold rates as inflation slows slightly, focus on IMF bailout appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA Ne...
- Sri Lanka Central Bank to hold rates as inflation worries persist (Category: Breaking News)
- Sri Lanka’s Central Bank to hold rates as inflation stays high (Category: Breaking News)
- Central Bank of Sri Lanka threatens administrative measures over high market interest rates (Category: Breaking News)
- Sri Lanka unexpectedly raises rates to fulfil IMF bailout requirements (Category: Breaking News)
By Ramesh Khan At the beginning of the year 2022, none in Sri Lanka would have thought that the end of the pandemic would not signal the end of misery. Instead, it signaled the advent of misery in forms that had been unknown to the Sri Lankans until now. A country filled with tourist spots, […]
- IFC to provide $400 million to banks in Sri Lanka (Category: Breaking News)
- $ 400 m IMF lifeline for struggling Sri Lanka (Category: Business)
- Over 400 respond (Category: Breaking News)
- US$ 400 m India-SL energy transaction in the pipeline (Category: Business)
The Overall rate of inflation as measured by the National Consumer Price Index (NCPI) on a Year-On-Year basis was 70.6% in October 2022, compared to 73.7% in September 2022.The post Sri Lanka’s inflation slows down to 70.6% in October 2022 appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- CCPI based inflation drops to 66% in October (Category: Breaking News)
- Sri Lanka’s inflation climbed to 60.8% in July – CCPI (Category: Breaking News)
- Sri Lanka consumer inflation hits record 73.7% in September (Category: Breaking News)
- CCPI based inflation further drops to 57.2% (Category: Breaking News)
By N Sathiya Moorthy At a time when India, Sri Lanka and Maldives are fighting international drug menace jointly and severally, comes President Ranil Wickremesinghe’s budget that has proposed legalising cannabis cultivation. The idea is to help boost farm-produce (?) exports and forex reserves, which are at the lowest level since the economic crisis hit […]
- Minister insists no move to legalise cannabis (Category: Breaking News)
- American arrested in Beliatta with cannabis plants (Category: Breaking News)
- Sri Lanka says no approval to cultivate cannabis (Category: Breaking News)
- Bureau of Rehabilitation Bill inconsistent with Constitution (Category: Breaking News)
By Shamindra Ferdinando General Secretary of the Democratic Left Front (DLF) Vasudeva Nanayakkara, MP, yesterday (20) said that the UNP had sold the urea plant at Sapugaskanda to a foreign buyer who set it up in an Arab country.Having brought the machinery as scrap iron the buyer had re-installed the machinery and today Sri Lanka […]
- Minister assures urea fertilizer price will drop below Rs. 9,000 (Category: Breaking News)
- Manusha issues warning over health sector jobs in Israel (Category: Breaking News)
- Urea shipment of 28,000 MT arrives in Sri Lanka (Category: Breaking News)
- Ranjan accepts new position as goodwill ambassador for migrant workers (Category: Breaking News)
[…]The post National Council’s Economic Stabilisation Report Is A Welcome Sign appeared first on Colombo Telegraph.
- Domestic Debt Restructuring: Another Time Bomb Clicking Down? (Category: Breaking News)
- The Apologetic Custodian Of The EPF Is Also A Victim (Category: Breaking News)
- Child’s Guide To Debt Restructuring: Not A Cakewalk But A Task Entailing Hard Work (Category: Breaking News)
- Ranil’s Biggest Woe: What To Do When Fiscal & Monetary Policies Have Failed & Are Still Falling? (Category: Breaking News)
People’s Bank recently entered into an agreement with the National Investment Industrial Bank in Russia to facilitate anovel remittance mechanism that enables efficient and convenient fund transfers from Russia to accounts in Sri Lanka. According to this arrangement, beneficiaries in Sri Lanka, especiallyservice providers, exporters etc. will be able to receive fundsquickly and cost effectively. [...
- Parliament approves appointment of Sri Lanka’s new HC to Maldives (Category: Breaking News)
- Singer secures 18th consecutive ‘People’s Brand of the Year’ Award at SLIM-KANTAR PEOPLE’S AWARD... (Category: Breaking News)
- Parliament approves appointment of new Foreign Secretary (Category: Breaking News)
- Prime Wins Gold in Land and Property Sector at TAGS Awards 2022 (Category: Breaking News)
[…]The post How We Came To This Pass – Waiting On IMF appeared first on Colombo Telegraph.
- Sri Lanka’s Two Challenges: Economic Recovery & Political Devolution (Category: Breaking News)
- Two Challenges: Economic Recovery & Political Devolution – IV (Category: Breaking News)
- How We Came To This Pass: A Quest For Scapegoats (Category: Breaking News)
- Privatisation Of Public Assets Under Neoliberal Corporate Capitalism: Modern Evil (Category: Breaking News)
Sri Lanka has postponed a round of debt restructuring talks initially expected to be held on Thursday to allow central bank and treasury officials to provide clarifications sought by the country's creditors, its state minister of finance said.The post Sri Lanka postpones debt restructuring talks, hopes for IMF deal in December appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ...
- Sri Lanka calls for debt-restructuring proposals from dealer managers (Category: Breaking News)
- Sri Lanka could wrap up debt restructure talks by Sept, president says (Category: Breaking News)
- Japan says no pact yet with Sri Lanka on debt restructure talks (Category: Breaking News)
- Japan, India and France launch creditors meeting on Sri Lanka debt (Category: Breaking News)
[…]The post Economic Bankruptcy & Political Instability appeared first on Colombo Telegraph.
- Remembrance Week Marking Persecution Of Sri Lankan Muslims (Category: Breaking News)
- Modi’s Wolf Worrier Diplomacy Opens A Window For China In South Asia (Category: Breaking News)
- New Delhi, Colombo & Tamils: The Adani Factor (Category: Breaking News)
- New Delhi, Colombo & Tamils: The Adani Factor (Category: Breaking News)
[…]The post Unmasking The Likes Of Cabraals; A National Imperative! appeared first on Colombo Telegraph.
- Can Sri Lanka Come Out Of Its ‘Deer In The Headlights’ Mindset? (Category: Breaking News)
- With Impunity Remaining Normalised, What Hope For Sri Lanka? (Category: Breaking News)
- Lack of Common Sense Of A Time-Expired President (Category: Breaking News)
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
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