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Indian External Affairs Minister S. Jaishankar’s visit to Colombo on Thursday will focus on “supporting Sri Lanka” in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka’s debt. The two-day visit is expected […]
By N Sathiya Moorthy If anyone thought that the recent Canadian sanctions against former Presidents Mahinda Rajapaksa and brother Gotabaya Rajapaksa, along with two army officers charged with Tamil-killing outside the battle-field could pressure the government of President Ranil Wickremesinghe to fast-track a liberal solution to the ethnic problem, it is not to be. If […]
External Affairs Minister of India, S. Jaishankar’s visit to Colombo on Thursday will focus on “supporting Sri Lanka” in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka’s debt. The two-day visit is expected to see some announcements.The post ...
New tax administration system for Excise Dept. proposed at a cost of Rs 2 bn By Shamindra Ferdinando The International Monetary Fund (IMF) has stepped in to help streamline tax collection here amidst allegations of corruption and inefficiency against revenue collecting authorities. Justice Minister Dr. Wijeyadasa Rajapakse, PC, has repeatedly alleged both in and outside […]
Expatriate Sri Lankan workers had remitted 475.6 million U.S. dollars in December 2022, Minister of Labour and Foreign Employment, Manusha Nanayakkara, said on Saturday.It was a 46% increase from December 2021, when workers sent 325.2 million dollars, the Minister said. In 2021, Sri Lankan workers sent 5,491.5 million dollars; they remitted only 3,789.5 million dollars in 2022, Central Bank data h...
[…]The post A Child’s Guide To Demand Of 182 Academics For Cancelling Sri Lanka’s Foreign Debt appeared first on Colombo Telegraph.
[…]The post The Need Of An Online Voting System To Sri Lanka appeared first on Colombo Telegraph.
Sri Lanka has completed debt restructuring talks with Japan, President Ranil Wickremesinghe said. Wickremesinghe said that Japan is one of the three main countries from who Sri Lanka has obtained loans. The other two countries are China and India. The International Monetary Fund (IMF) has requested Sri Lanka to restructure its debt in order to obtain […]
[…]The post Economic Gloom, LG Polls & Coalitions Of Clowns appeared first on Colombo Telegraph.
[…]The post 182 Experts Call For Debt Cancellation But Private Investors Play Hardball appeared first on Colombo Telegraph.
President Ranil Wickremesinghe has said that India’s response to cash-strapped Sri Lanka’s request for debt restructuring is expected by the end of this month. Sri Lanka, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), has been trying to to get financial assurances from its major creditors […]
In view of delay in assurance from bilateral creditors so as to fulfil the criteria of getting a bailout package of USD 2.9 Billion from the IMF, Sri Lanka is in talks with the World Bank and the Asian Development Bank to obtain loans worth of USD 1.9 billion. According to the Governor of the […]
The International Monetary Fund (IMF) is in talks with China to try and convince the country to restructure Sri Lanka’s debt. During a round-table media interaction, IMF Managing Director Kristalina Georgieva said that the IMF wants to help China understand both the whole issue of debt sustainability and what can be a pathway for their […]
Fitch Ratings has downgraded the National Long-Term Ratings of 10 Sri Lankan banks following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan national rating scale.The post Fitch downgrades long-term ratings of 10 Sri Lankan Banks appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Central Bank of Sri Lanka has announced that Treasury bills to the value of Rupees 95,000 million are to be issued through an auction on 18th January 2023.
By Dr. C. S. Weeraratna (csweera@sltnet.lk) Sri Lanka is facing an unprecedented crisis mainly due to economic mismanagement and corruption in the various development sectors. During the last few weeks, at various discussions related to the country’s economy, the need to take effective action on the present economic situation in the country has been highlighted. […]
The Bangladesh Bank has extended the repayment period of the $200 million loan to Sri Lanka by six months until September this year amid the recovery of the South Asian country from its devastating economic crisis. The central bank made the decision at its board meeting on Thursday, a senior official, wishing to remain unnamed, […]
The Central Bank of Bangladesh, Bangladesh Bank, has granted Sri Lanka six more months to repay the loan of USD 200 million, as per a request made by Sri Lankan authorities.
[…]The post IMF Wants Elections To Be Held appeared first on Colombo Telegraph.
Indian Foreign Minister S. Jaishankar is expected in Sri Lanka next week, President Ranil Wickremesinghe said. The visit comes as both India and Sri Lanka are involved in debt restructuring talks. The International Monetary Fund (IMF) wants Sri Lanka to restructure its debt in order to release $ 2.5 billion in financial assistance. Wickremesinghe said […]
The Exim Bank of China and the Sri Lankan Government had talks on Sri Lanka’s debt crisis. The discussion took place between Wu Fulin, Chairman of the Export-Import Bank of China and President Ranil Wickremesinghe. “Wu Fulin, Chairman of the Export-Import Bank of China, held a fruitful video conference with Ranil Wickremesinghe, President and Minister […]
The Central Bank of Sri Lanka (CBSL) bank has urged China and India to agree a write-down of their loans as soon as possible.The post Central Bank Governor urges China and India to reduce Sri Lanka’s debts soon appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Central Bank of Sri Lanka (CBSL) bank has urged China and India to agree a write-down of their loans as soon as possible.
Sri Lanka’s central bank has urged China and India to agree a write-down of their loans as soon as possible. The crisis-hit Indian Ocean state defaulted on its debt repayments and negotiated a $2.9bn (£2.4bn) bailout. But the International Monetary Fund will not release the cash until China and India first agree to reduce Sri […]
Predictably, sections of Sri Lankan opinion are seeing some similarities between the recent acts of lawlessness in Brazil, coming close on the heels of the re-election of Luiz Inacio Lula da Silva to that country’s presidency, and the anti-government protests that swept Sri Lanka some months ago, or the ‘Aragalaya’, which resulted in former President […]
Sri Lanka’s output is estimated to have fallen by 9.2 percent in 2022 as the government ran out of the foreign exchange needed to cover food and fuel imports while the rupee plummeted and imports contracted sharply, and to service external debt, the World Bank says.The post Sri Lanka’s output expected to contract again in 2023 – World Bank appeared first on Sri Lanka News - Latest Brea...
Sri Lanka s output is estimated to have fallen by 9.2 percent in 2022 as the government ran out of the foreign exchange needed to cover food and fuel imports while the rupee plummeted and imports contracted sharply, and to service external debt, the World Bank says.
Why did former President Sirisena vacate the Paget Road residence, having made it part of his ‘deal’ with the UNP? A three-judge bench of the Supreme Court, comprising Justices Priyantha Jayawardena, Gamini Amarasekara, and Kumuduni Wickremasinghe, having examined the arguments put forward by both the petitioner and respondent parties, issued an interim order on March […]
Seylan Bank, the Bank with a Heart, secured several accolades to its name at the recently concluded SLIM DIGIS 2.2 with a Silver and a Bronze for its #ResponsibleMe campaign, along with another Bronze for the Bank’s National Day campaign. Awarded in celebration of Seylan Bank’s best digital marketing endeavours, innovation and talent, these awards […]
Twenty five winners of the People’s Bank’s “People’s Remittance Vaasi Kotiyai, Ewannai Dinannai” draw for the period from March 01 to November 07, 2022, were awarded Gold Sovereigns at an event held at the People’s Bank, Overseas Customer Services premises, at Colombo 10, recently. A press release from the bank said: Rohan Pathirage – Senior […]