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Saturday 6th May, 2023 One of the main reasons for Sri Lanka’s current economic crisis is that successive governments have invested borrowed money in white elephant projects and enabled their leaders to pocket kickbacks at the expense of the state coffers. The situation took a turn for the worse, on President Mahinda Rajapaksa’s watch, with […]
[…]The post Restructuring The Economy: A Stock Take appeared first on Colombo Telegraph.
Sri Lanka President Ranil Wickremesinghe addressed the United National Party (UNP) May Day celebrations held at the Sugathadasa Indoor Stadium in Colombo yesterday (May 01) through video technology.The post Sri Lanka President says Let 2048 be the year of development for Sri Lanka appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
[…]The post Preparing The Ground For Early Elections appeared first on Colombo Telegraph.
By Sanath Nanayakkare Sri Lanka, while pursuing the macro-fiscal adjustment programme, under the IMF’s Extended Fund Facility arrangement, should focus on two key national issues concurrently, President Ranil Wickremesinghe said yesterday. “If the country is to achieve economic growth and share the dividends of prosperity among all its people, we need to focus on two […]
By Jehan Perera The second round of reducing the prices of a variety of fuels (2 percent for ordinary petrol to 29 percent for super diesel used by luxury vehicles) is an indication that the government is seeking to improve its support base amongst the better off sections of the population. This could be to […]
Millions of less affluent Sri Lankans working in the Middle East are sending money home to keep the economy afloat while the more educated who hold higher posts in developed countries keep money stashed elsewhere, Labour Minister Manusha Nanayakkara said in Parliament on Tuesday (April 25).The post Sri Lanka workers in Middle East sending money, while more educated do not – Minister appeared...
By NESHELLA PERERA Millions of less affluent Sri Lankans works in the Middle East are sending money home to keep the economy afloat while the more educated who hold higher post in developed countries keep money stashed elsewhere, Labour Minister Manusha Nanayakkara said. “The most amount of foreign exchange generated for Sri Lanka comes from the […]
[…]The post National Reconciliation, Criminal Accommodation & Election Juggling appeared first on Colombo Telegraph.
Sri Lanka's key inflation rate eased to 35.3% in April from 50.3% in March, the statistics department said on Friday, a sign of relief for the crisis-battered economy.The post Sri Lanka’s key inflation rate eases to 35.3% in April appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades.The post Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
Sri Lanka is caught up in the China-Quad battle. The Indian participation in the ‘Quad’ project has further complicated matters for Sri Lanka. President Gotabaya Rajapaksa’s ouster, last July, following a US-backed protest campaign that overwhelmed the seemingly invincible administration, underlines the urgent need for a thorough examination of external interventions. By Shamindra Ferdinando The [...
Celebrating over three decades of service and support to grow microfinance customers across the island, Sri Lanka’s leading private sector bank HNB PLC, revived its annual trade fair and exhibition for Micro, Small and Medium Enterprises (MSMEs) The Gami Pubuduwa Pola 2023. Organised by the bank to showcase up-and-coming businesses in its portfolio, the trade […]
[…]The post IMF, ATA & RW’s Consolidation appeared first on Colombo Telegraph.
[…]The post The Easter Attacks & A Game Of Thrones: The Master Mind, A Cover Up Investigation & AI appeared first on Colombo Telegraph.
[…]The post Is State Owned Temasek A Useful Concept For Sri Lanka? appeared first on Colombo Telegraph.
Sri Lanka's National Consumer Price Index (NCPI) (LKNCPI=ECI) eased to 49.2% year-on-year in March, after a 53.6% rise in February, the statistics department said on Friday.The post Sri Lanka consumer inflation dips to 49.2% year-on-year in March appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Friday 21st April, 2023 Parliament is going to debate the government’s agreement with the IMF, which has approved USD 3 billion for Sri Lanka under the Extended Fund Facility Arrangement. The debate is scheduled to take place from 26 to 28 April, we are told. Public finance is the province of Parliament, which should scrutinise the […]
Economists sharply cut Sri Lanka’s growth outlook through this year as curbs on imports and still-limited reserves persist even as the International Monetary Fund releases bailout loans and authorities work toward debt restructuring efforts.The post Sri Lanka GDP outlook slashed as economy struggles to recover – report appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ON...
• Says existing system of international debt schemes hinders vulnerable, developing economies • Urges for political will at global level to reform international financial architecture • Requests for support in debt restructuring, debt sustainability and adequate climate financing By Sanath Nanayakkare Shehan Semasinghe, State Minister of Finance speaking at the UN ECOSOC Financing for Development ...
…and move to license poaching in northern waters The Sectoral Committee on International Relations should examine the highly contentious proposal to regulate Indian poaching in Sri Lankan waters. Talks are continuing on the setting up of a licensing system to address a long standing problem. The intensity of poaching has only increased since the conclusion […]
[…]The post Sri Lanka Is Still In Deep Trouble, With Or Without Ranil appeared first on Colombo Telegraph.
[…]The post Nothing ‘Holistic’ About The Romesh De Silva Constitutional Draft Or The Millions Spent By ‘Experts’ appeared first on Colombo Telegraph.
Bangladesh has extended the repayment period of Sri Lanka’s $200 million loan it had given by six more months.The post Sri Lanka given more time to repay Bangladesh’s $200 Million loan appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
By N Sathiya Moorthy Now that President Ranil Wickremesinghe has promised to table the IMF bail-out documents in Parliament on 25 April, there will be some relief for citizens wanting out of the meaningless politico-electoral speculation of the time. It could well be back to a more serious discourse on the economy, economic recovery – […]
[…]The post Four Popular Fallacies Relating To Central Banking appeared first on Colombo Telegraph.
Bangladesh has extended the repayment period of the loan it had given to Sri Lanka by six more months as the Island nation continues to struggle to fix its debt crisis, officials say. Earlier, the central bank of Sri Lanka had sought time from Bangladesh to make the first instalment of the $200 million credit […]
[…]The post Taxes, Swiss Bank Accounts & The Chinese Cafe appeared first on Colombo Telegraph.
Sri Lanka makes significant progress in restructuring its debt and solving the economic crisis at the 2023 spring meetings of the World Bank Group and the International Monetary Fund in Washington DC.The post Sri Lanka makes significant progress at the World Bank – IMF spring meetings in Washington appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.