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Even though China is South Korea’s top trading partner, Seoul’s tightening ties with the U.S. and other wealthy democratic countries reveal its interest in countering Beijing’s economic coercion, experts say. After a monthlong diplomacy effort that included summits with the U.S. and G-7 leaders, “reducing our reliance on China” and “diversifying our trading part...
The Asian Development Bank (ADB) today approved a $350 million special policy-based loan to provide budget support to Sri Lanka for economic stabilization.The post ADB approves $350 Million for Sri Lanka economic stabilization programme appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
The Asian Development Bank (ADB) today approved a US$350 million (RM1.6 billion) special policy-based loan to provide budget support to Sri Lanka for economic stabilisation, the regional lender said in a statement. The programme is part of a broader package of financial assistance anchored by the International Monetary Fund’s (IMF) Extended Fund Facility for the […]
[…]The post IMF Bailout: Will Enforced Austerity Lead To A Fascist Government? appeared first on Colombo Telegraph.
[…]The post Liberalism, capitalism & The Hungry Masses: “Edible Economics” Will Need To Restrain Choices appeared first on Colombo Telegraph.
[…]The post Economics Of Recovery & Politics Of Reconciliation appeared first on Colombo Telegraph.
Sri Lanka needs to step up efforts in enticing a larger proportion of its population across all provinces towards embracing entrepreneurship so that the impacts of the ongoing economic crisis would lessen, the Central Bank asserted.The post Sri Lanka needs to boost entrepreneurship to overcome ongoing crisis – Central Bank Governor appeared first on ONLANKA News - Sri Lanka News Service to g...
Upon completion of its mission to Sri Lanka, the International Monetary Fund (IMF) review team has said that maintaining the economic reform momentum and ensuring timely implementation of the IMF-supported programme’s commitments are essential for Sri Lanka to emerge from the current economic crisis. The mission discussed recent economic developments and the implementation of the […]
Caught in a quagmire between political instability and economic turmoil, the development projects under the China-Pakistan Economic Corridor (CPEC) have been delayed in Pakistan, angering China, reported The Friday Times. China is angry in particular as it recently helped Pakistan out by rolling out loans and extending much-needed support. Diplomatic sources say Chinese authorities are […]
The International Monetary Fund (IMF) team says that keeping up the economic reform momentum and ensuring timely implementation of the IMF-supported programme’s commitments are key for Sri Lanka to emerge from the economic crisis.The post IMF Staff concludes visit to Sri Lanka and issued official statement appeared first on ONLANKA News | Sri Lanka Latest Breaking News and Top Stories - Sri Lanka ...
The International Monetary Fund (IMF) says timely restructuring agreements between Sri Lanka and its creditors in line with the program targets, by the time of the first review, is essential to restoring debt sustainability. An IMF mission led by Messrs. Peter Breuer and Masahiro Nozaki conducted a staff visit to Colombo from May 11 to […]
The economic crisis has placed Sri Lanka among the 20 poorest countries in Asia. A report published on Insider Monkey noted that while Sri Lanka is classified as a developing country, it is currently facing an economic crisis characterized by the devaluation of its currency, increasing inflation, and a humanitarian emergency caused by a severe […]
By Hema Senanayake hemasenanayake@yahoo.com IMF has an ideology, a system of ideas and ideals which forms the basis of its decisions and policy prescriptions for which the recipient country of the loan claims as of its own. The most important idea does not originate from economic theory but international trade theories instead. The Great Recession […]
[…]The post Liberal Or Edible Economics: Global Disorder Worst In A Century appeared first on Colombo Telegraph.
[…]The post Central Banks Have A Critical Role To Play During Times Of Financial Crisis appeared first on Colombo Telegraph.
By Shamindra Ferdinando Opposition spokesperson Prof. G. L. Peiris has alleged that two new laws that dealt with terrorism and corruption were meant to consolidate the Wickremesinghe-Rajapaksa regime. The former External Affairs Minister discussed the government’s agenda pertaining to the proposed Anti-Terrorism Bill and Anti-Corruption Bill. He said the Anti-Corruption Bill was actually meant to ...
India and Sri Lanka are exploring the possibility of using the Indian Rupee for economic transactions in order to strengthen their partnership through trade and investment-led measures. Recently, the High Commission of India organized a discussion in Colombo, on the use of the Indian Rupee for transactions between the two countries. Representatives from the Bank […]
CPC, CEB need to recover costs until end of Fund’s loan package By Rathindra Kuruwita The Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB) had to recover costs until the end of the IMF programme, Sarwat Jahan, IMF Resident Representative in Sri Lanka, told a press conference in Colombo yesterday. The IMF also wanted the […]
[…]The post 75 Years On: The Shameful Legacy Of The ‘Palestinian Nakba’ Continues! appeared first on Colombo Telegraph.
[…]The post Politics Of Poverty & Aswesuma appeared first on Colombo Telegraph.
Islamabad [Pakistan], April 28 (ANI): Amid a rise in inflation and a shortage of foreign exchange reserves, people in Pakistan have started to face difficulties in performing Haj, Pakistan vernacular media reported. The Haj quota is now available for the first time in Pakistani history, but fewer people are making the pilgrimage. Most Pakistanis are […]
The prevailing economic crisis dealt a huge blow to the country’s fisheries sector resulting in setbacks and decline of production thereby raising the retail prices of fish during last year, says the Central bank in its latest annual report. The seventy third Annual Report of the Monetary Board of the Central Bank of Sri Lanka […]
[…]The post People Called On To Play Direct Role To Sustain Democracy appeared first on Colombo Telegraph.
Pakistan's anti-graft watchdog arrested former Prime Minister Imran Khan at Islamabad High Court on Tuesday, in a dramatic move that threatens fresh turmoil in the nuclear-armed country.The post Former Pakistan Prime Minister Imran Khan arrested, aides call for nationwide protest appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
By Shamindra Ferdinando The Opposition yesterday (08) lambasted Speaker Mahinda Yapa Abeywardena for what it called a move to disrupt the Committee on Public Finance (CoPF) ahead of the vote on a Bill titled ‘Central Bank of Sri Lanka.’ Top spokespersons for the Nidahas Janatha Sabhawa (NJS) Prof. G.L. Peiris, MP, and the main Opposition Samagi […]
[…]The post Inflation, Interest Rate & Imperialism appeared first on Colombo Telegraph.
Around 40 percent of Sri Lankans have resorted to livelihood-based coping strategies by reducing their spending on education and health owing to the current economic crisis, says the Central Bank of Sri Lanka, in its latest annual report. The 73rd Annual Report of the Monetary Board of the Central Bank of Sri Lanka released recently […]
By Shamindra Ferdinando SLPP MP Gevindu Cumaratunga, now functioning as an independent, yesterday (07), said that it would be the responsibility of Parliament to ensure that amendments, recommended by the judiciary to a Bill titled ‘Central Bank of Sri Lanka,’ were duly incorporated. The National List MP said that the assurance given by Additional Solicitor […]
SJB and Opposition Leader Sajith Premadasa Wednesday told a Colombo meeting attended by several opposition parties and groups sharing common ground on forthcoming legislation that the proposed Anti-Terrorist law now moved to the back burner by the government endangered Sri Lanka’s entire 22 million population of being labeled terrorists. The meeting at the Mandarin Hotel […]
Sri Lanka expects to host 1.55 million visitors and earn 2.7 billion Sri Lankan rupees ($8.4 million) in much-needed tourism revenue this year, as it maps a road to the recovery of its tourism sector amid its worst economic crisis in decades.The post Sri Lanka expects cash infusion from 1.5 million tourists in 2023 for crisis-hit economy appeared first on Sri Lanka Breaking News and Top Headlines ...