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The strained balance sheets of the household and the corporate sectors in the backdrop of the severe economic crisis which resulted in an erosion of real income levels amid elevated price levels, hindered the debt repayment capacities of households and corporates, the Central Bank said in its Financial Stability Review for the Year 2023. Households […]
Tourist arrivals in Sri Lanka crossed the 200,000 mark in December, the highest arrivals for the last four years in one month. Tourism Minister Harin Fernando said that total arrivals for 2023 will be almost close to 1.5 million which was the original target set in Jan 2023. Sri Lanka’s tourism sector has been on […]
Sri Lanka’s Central Bank Governor Dr. Nandala Weerasinghe has emphasized the importance of the continuity of the Extended Fund Facility (EFF) agreement with the International Monetary Fund (IMF).The post Sri Lanka’s Central Bank Governor says IMF agreement must be continued under any Government appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
by Dr Upul Wijayawardhana Reading “From heyday to ‘hay day’”, the hard-hitting editorial laced with sarcasm (The Island, 18 December) and “Declining power and challenges before SLPP” by Shamindra Ferdinando in the Midweek Review of 20th December, I began wondering whether the recently concluded SLPP convention was the final flicker before the flame was extinguished […...
Wijeyadasa pushes for suspension of Parate executions: ‘Country paying heavy price for not having proper tax regime, favourable treatment to some’ By Shamindra Ferdinando Justice, Prisons Affairs and Constitutional Reforms Minister Dr. Wijeyadasa Rajapakse, PC, has assured the local business community, troubled by parate executions, that laws will be brought in to regulate the practice. The [̷...
Banks exercise their legally-enshrined right to Parate Execution as a last resort and the overarching objective is the protection of depositors’ funds that have been lent to borrowers, the Sri Lanka Banks Association (SLBA) has said in a statement to the media. Responding to what it termed as lobbying by a group of defaulting borrowers […]
[…]The post Acting IGP & Police Minister Have Woken Up From A Deep Sleep? appeared first on Colombo Telegraph.
[…]The post No Christmas In Bethlehem, Vatican Breakthrough & Himalayan Declaration appeared first on Colombo Telegraph.
The Minister of Labour and Foreign Employment Manusha Nanayakkara, highlighted the significant improvement in the country’s foreign reserves under the leadership of President Ranil Wickremesinghe.The post Government abled to increase foreign reserves to USD 3.6 Billion – Minister appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka said on Wednesday it expects its foreign exchange reserves to rise above $4 billion this month, their highest level since the island nation plunged last year into its worst economic crisis since independence in 1948.The post Sri Lanka sees forex reserves exceeding $4 billion after fresh funding appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
In actual fact the foundation for the current economic chaos was laid under the Yahapalana rule when they borrowed as much as USD 12 billion from the international bond market, at high interest rates, with them not even undertaking any developmental works, like the Rajapaksas, or, for that matter, any worthwhile economic activity. We certainly […]
[An article based on the Keynote Address delivered by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, recently at the Annual Research Symposium 2023 of the University of Colombo] Introduction Inflation affects every aspect of our lives; it is a force that shapes our purchasing power, influences our financial decisions, and […]
Sri Lanka President Ranil Wickremesinghe has urged all political leaders to exhibit responsibility in their approach to the International Monetary Fund (IMF) program.The post Sri Lanka President calls for proposals from opponents of IMF program to rescue country from financial crisis appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Lending In A Recession: Banks Should Do Venture Capital Financing For Startups appeared first on Colombo Telegraph.
[…]The post 2024 Election Year; The Perennial Challenge Of Cleaning The Stables For Sri Lanka! appeared first on Colombo Telegraph.
[…]The post Citizens Need A Snow White To Prod The Dwarfs In Governance & Society! appeared first on Colombo Telegraph.
By N Sathiya Moorthy Speaking as chief guest at the Sri Lanka Military Academy, Diyatalawa, the other day, President Ranil Wickremesinghe emphasised the profound responsibility of the army in safeguarding the sovereignty of the country. He asserted that this duty should remain unquestionable and impervious to any attempts to restrict or compromise it. Simultaneously, the President […]
Kuwait's leader Emir Sheikh Nawaf al-Ahmad al-Jaber al-Sabah has died at the age of 86, Kuwaiti state TV announced.The post Kuwaiti leader Sheikh Nawaf al-Ahmed dies aged 86 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
… explains how Parliament enacted harmful laws By Shamindra Ferdinando Veteran lawyer Kalyananda Thiranagama said that the ruling Sri Lanka Podujana Peremuna (SLPP) should be held responsible for backing President Ranil Wickremesinghe’s economic strategy meant to privatise the remaining state enterprises. Addressing a public gathering in Colombo, the liberal civil society activist emphasised that ...
Sri Lanka's economy grew by 1.6% in the quarter from July to September, official data showed on Friday, as the country claws its way back from its worst financial crisis in more than seven decades following a record fall in foreign exchange reserves.The post Sri Lanka’s economy returns to growth, led by agriculture appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The second review of Sri Lanka's $2.9 billion bailout with the IMF could be completed in the first half of 2024, provided it manages to meet debt restructuring and revenue targets set under the programme, an official said on Wednesday.The post Sri Lanka’s second review of $2.9 billion IMF bailout possible in first half of 2024 – official appeared first on ONLANKA - Sri Lanka Latest Bre...
By Shamindra Ferdinando Chairman of the Committee on Ways and Means Patali Champika Ranawaka on Tuesday (12) alleged that the Finance Ministry had allowed the operation of a distillery in spite of that company failing to pay taxes. The former minister said that the country lost millions for want of political will to recover what that company owed […]
In a special statement to Parliament today (13), President Ranil Wickremesinghe emphasized the critical role of the government’s program, backed by assistance from the International Monetary Fund (IMF) and debt restructuring, in rebuilding the collapsed Sri Lankan economy. The President warned that deviating from this path could lead to another economic collapse, urging caution against […]
The International Monetary Fund (IMF) said its executive board cleared the first review of Sri Lanka's about $3 billion bailout on Tuesday, providing about $337 million in funds to help tackle the fallout from the country's worst financial crisis in decades.The post IMF board approves first review of Sri Lanka’s nearly $3 billion bailout appeared first on ONLANKA - Sri Lanka Latest Breaking ...
The Executive Board of the International Monetary Fund (IMF) has approved the disbursement of approximately US$ 337 million to Sri Lanka as part of a bailout package. The IMF said the Executive Board completed the first review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with access to SDR 254 million […]
Tuesday 12th December, 2023 Opposition Leader Sajith Premadasa has lashed out at a section of the media for floating a story that he is planning to patch up differences with President Ranil Wickremesinghe. Premadasa has alleged that the journalists who are spreading that story are in the pay of the government. His consternation is understandable. […]
Two policy-based loans (PBLs) have been arranged following discussions between the Asian Development Bank (ADB) and the Sri Lankan government, the Ministry of Finance said. Accordingly, the PBLs are slated to be used for the implementation of the Financial Sector Stability and Reform Programme, in a bid to create a stable financial system that provides […]
[…]The post Should The Central Bank Act Be Amended By A Future Government? appeared first on Colombo Telegraph.
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