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Sri Lanka's national carrier has been struggling against even more headwinds than many of its rivals.The post Sri Lanka airline boss says ‘don’t be a CEO during Covid’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Workers’ remittances to Sri Lanka crossed the US$ 500 million mark for the first time since April 2021, data released by the Central Bank last evening showed.The post Migrant workers’ remittances record sharp increase in March appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Janatha Aragalaya: The People’s Struggle In Sri Lanka appeared first on Colombo Telegraph.
Sri Lanka’s economy is projected to contract further in 2023 before it begins a gradual recovery in 2024, as the country navigates an unprecedented economic crisis, the Asian Development Bank (ADB) said in its annual flagship economic publication, the Asian Development Outlook (ADO) April 2023.The post Sri Lanka’s economy to contract further before gradual recovery in 2024 – ADB appear...
Turn this crisis into an opportunity – ADB By Sanath Nanayakkare Sri Lanka will have no second chance if this time it forgets why it took the Extended Fund Facility from the IMF and goes back to doing things that create fiscal imbalances, like in the past 16 programs with the IMF, Central Bank Governor […]
By Shamindra Ferdinando All Ceylon Buddhist Congress (ACBC) recently launched an inquiry into what it called a state of anarchy prevailing in the country. An Independent Commission set up by ACBC has initiated a comprehensive probe in a bid to establish the circumstances leading to the eruption of public protests against President Gotabaya Rajapaksa and […]
Sri Lankan President Ranil Wickremesinghe announced that the agreement with the International Monetary Fund (IMF) would be presented to Parliament for a vote on whether to support it and that following this vote, the key points of the agreement would be enacted into law.The post Once the Parliament approves IMF agreement, the main points will be passed into law – Sri Lanka President appeared...
[…]The post IMF Bailout: Why This Concern About Good Governance, Anti-Corruption Laws & An Independent Central Bank? appeared first on Colombo Telegraph.
India and Japan have jointly agreed to cooperate with Sri Lanka to bolster regional connectivity in the strategic Indo-Pacific, a media report said on Friday, amid China’s aggressive military manoeuvring in the resource-rich region.The post India, Japan join hands with Sri Lanka to bolster regional connectivity in Indo-Pacific region appeared first on Sri Lanka News - Latest Breaking News in Sri L...
ECONOMYNEXT –Sri Lanka will not re-structure Treasury bills outside of central bank holdings and will engage with major T-bond holders for voluntary ‘optimization’ Governor Nandalal Weerasinghe said. “There will be some treatment on central bank held Treasury bills,” Governor Nandal Weeasinghe told a creditor presentation Thursday. “Other Treasury bill holdings will not be treate...
[…]The post Lanka: Dilemmas & Economic Programmes – Do We Consume More Than We Produce? appeared first on Colombo Telegraph.
Sri Lanka has a final opportunity to progress and it is imperative for everyone to collaborate in creating a prosperous community for future generations, without resorting to finger-pointing, emphasized President Ranil Wickremesinghe.The post Sri Lanka President says ‘this is our last chance to forge ahead’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA ...
China on Thursday called remarks by U.S. Treasury Secretary Janet Yellen "irresponsible" and "unreasonable" after Yellen said Beijing's lending activities leave developing countries "trapped in debt."The post China calls U.S. debt trap accusation ‘irresponsible’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Efforts to damage caused by Tokyo funds projects continue By Shamindra Ferdinando Sri Lanka’s Ambassador in Tokyo Rodney Perera has said that in the wake of the IMF finalizing the latest loan facility, the country received an assurance from Japan that infrastructure development projects here would be provided Japanese funding.Rodney Perera quoted Japanese Prime Minister […]
The Central Bank of Sri Lanka (CBSL) has warned the public of significant risks associated with using and investing in cryptocurrency. Cryptocurrency is a type of virtual currency that is generated by private entities and not by a monetary authority of a country. The term ‘cryptocurrency’ refers to a digital representation of value that is […]
[…]The post IMF’s Concern On Corruption appeared first on Colombo Telegraph.
Sri Lankan President Ranil Wickremesinghe emphasized during an interview organized by Harvard University on the 24th, through Zoom technology, that Sri Lanka’s access to the growing Indian and African markets should not be disrupted by any big power rivalry or conflictThe post Sri Lanka’s access to growing Indian & African markets cannot be disrupted – President Ranil appeared fir...
[…]The post IMF Bailout Conditions Plus New Central Bank Act Will Close Doors To Modern Monetary Theory appeared first on Colombo Telegraph.
A popular Zimbabwe preacher who has links with a pastor in Sri Lanka, has denied allegations of corruption after he was accused of gold-smuggling. Issuing a lengthy statement, Presidential Envoy and preacher Uebert Angel, said that the allegations in an Al Jazeera documentary was part of a well-crafted ploy to trap the Ambassador and tarnish […]
ECONOMYNEXT – Sri Lanka is projected to lend 2,533 million US dollars mainly to the US and Euro areas during an International Monetary Fund deal in 2023 including a mandatory 1.4 billion US dollars collected from exports and remittances, according to official documents. Sri Lanka is expected to get two tranches of 331.2 million dollar […]
[…]The post President Joe Biden’s Headaches; Economic, Political & Social appeared first on Colombo Telegraph.
A Zimbabwe preacher with links to a controversial Sri Lankan “prophet” has been accused of gold-smuggling. Uebert Angel, who was in Sri Lanka in 2020 and 2022, to meet Prophet Jerome Fernando, has been accused in Zimbabwe of offering to use his status to launder millions of dollars through a gold-smuggling scheme. Angel, appointed ambassador-at-large […]
The International Monetary Fund (IMF) bailout will help bring Sri Lanka’s depleted foreign exchange reserve to pre-crisis levels in four years, said the country’s central bank governor.The post With IMF bailout, Sri Lanka will have healthy dollar reserves in 4 years – Central Bank Governor appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The International Monetary Fund (IMF) bailout will help bring Sri Lanka s depleted foreign exchange reserve to pre-crisis levels in four years, said the country s central bank governor.
[…]The post The Contribution Of The Monetary Policy For Overcoming The Current Economic Crisis Faced In Sri Lanka appeared first on Colombo Telegraph.
The Opposition Samagi Jana Balawegaya (SJB) today denied allegations linked to its talks with foreign diplomats based in Colombo. SJB Leader Sajith Premadasa denied claims that the SJB had attempted to block the loan from the International Monetary Fund (IMF) to Sri Lanka. He said the SJB, however, did assert at its meetings with the […]
Sri Lanka will kick off the next round of talks with creditors in the third week of April, President Ranil Wickremesinghe said on Wednesday, adding that the debt-stricken nation has started to receive funds from the International Monetary Fund.The post Sri Lanka to start next round of talks with creditors in April appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Calibrating The Time & Mode Of Elections appeared first on Colombo Telegraph.
President Ranil Wickremesinghe urged the Opposition to unite and disregard political differences to assist in carrying out the agreement with the International Monetary Fund (IMF). The President emphasized that his duty is not to condemn previous administrations but to concentrate on the development of the country. He also declared his dedication to constructing a better […]
Sri Lanka’s bailout by the International Monetary Fund will help the bankrupt nation lower its borrowing costs, thanks in part to a change in how the cash can be used, central bank Governor Nandalal Weerasinghe said.The post IMF Deal will cut Sri Lanka borrowing costs, Central Bank Chief says appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.