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By Sanath Nanayakkare The Governor of the Central Bank, Dr. Nandalal Weerasinghe said on Tuesday that Sri Lanka had been hiding its bankruptcy which had actually occurred months before it was officially announced. He said so during a multi-TV channel programme where several key political and public officials responsible for the country’s economy were quizzed […]
Sri Lanka’s official unemployment rate climbed, raising serious concerns for the policymakers, as the economic crisis is taking a severe toll on jobs, with many small and medium-sized businesses are either closing down or pushed to the brink amid elevated input costs, interest rates and decline in demand.The post Jobless rate rises to troubling levels as economic crisis stings employment appeared ...
[…]The post Accountability Issues & Human Rights Cannot Be Glossed Over appeared first on Colombo Telegraph.
by Jehan Perera The government’s proposal to set up a truth and reconciliation mechanism to deal with the unresolved human rights issues of the war will get a boost in the aftermath of last week’s unexpected developments that will directly affect three former presidents of Sri Lanka hitherto thought to be untouchable by virtue of […]
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 ...
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 […]
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. […]
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 […]
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 […]
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 […]
[…]The post The Case For (And Against) Anura Kumara Dissanayake appeared first on Colombo Telegraph.
Sri Lanka’s recovery from last year’s devastating economic crisis will need its creditors to “share the burden” of debt restructuring, leading global economists have said, calling all lenders to cancel the debt of the cash-strapped island nation.The post Cancel Sri Lanka’s debt, global economists tell creditors appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA Ne...
By Easwaran Rutnam Private companies who lent at high interest rates are holding up vital debt relief for Sri Lanka, a group consisting of over 180 global economists and development experts said. Debt Justice said that these private companies, who lent to corrupt politicians, must face consequences from their risky lending by cancelling Sri Lanka’s […]
India has handed 75 passenger buses to Sri Lanka as part of its assistance towards strengthening public transport infrastructure in the cash-strapped country.The post India provides 75 buses to Sri Lanka to support public transport system appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka closed 2022 in December with gross forex reserves of 1,896 million dollars, up from 1,804 million US dollars a month earlier amid high interest rates which has allowed the central bank to halt money printing, reports said. Gross reserves were largely unchanged after rates were hiked in April and India stopped deferring import […]
[…]The post Dhaka Goes Metro, Colombo Stuck On Tuk-Tuk appeared first on Colombo Telegraph.
[…]The post Ranil’s Neoliberal Policies: A Death Knell For Working Class Sri Lankans appeared first on Colombo Telegraph.
Sri Lanka will restart negotiations on trade pacts with India, China and Thailand after a four-hear hiatus, an official said on Thursday, as the crisis-hit country races to seal deals to help it rebuild its economy.The post Sri Lanka to restart trade deal talks with India, China and Thailand – official appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Ahead of the inauguration of Nepal’s new Pokhara airport, in a surprise announcement on Saturday, the Chinese Embassy in Kathmandu tweeted, “This (Pokhara airport) is the flagship project of the China-Nepal Belt and Road Initiative (BRI) cooperation,” writes Anil Giri, in The Kathmandu Post. Notably, Nepal Prime Minister Pushpa Kamal Dahal on Sunday inaugurated the country’...