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[…]The post IMF Deal Is Not A Solution – Restart Decisive Struggle Against Government Attacks! appeared first on Colombo Telegraph.
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.
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 […]
[…]The post ‘Contemporary Issues In Socio-Economic Development’: A Timely Publication By Kelaniya University appeared first on Colombo Telegraph.
India says under its ‘Neighbourhood First’ policy it has always come forward to help debt-ridden Sri Lanka, and in the latest instance New Delhi has distributed rations in Kalmunai. Taking to Twitter, the High Commission of India in Colombo said, “Support by @IndiainSL to needy sections continues!! Glimpses of ration distribution in Kalmunai.” The cash-strapped […]
Sri Lanka’s economy shrank 7.8% in 2022 from the previous year, government data showed on Wednesday, as the country struggled with its worst financial crisis in more than seven decades.The post Sri Lanka’s Economy suffers worst contraction in 2022 appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Role Of Professionals In Achieving Our Economic Recovery appeared first on Colombo Telegraph.
Sri Lanka needs institutional reforms in order to achieve long-term debt sustainability, said Steve Hanke, who played a key role in establishing new currency regimes in emerging markets like Argentina and Montenegro.The post Sri Lanka needs institutional changes for long-term debt sustainability, expert says appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
India had helped Sri Lanka more than any other country, especially, Sri Lanka’s Foreign Minister Ali Sabry said during Raisina Dialogue ‘Ideas Pod.’ While the Indian government took some bold decisions to help Sri Lanka face its economic crisis, even the Indian public came forward to support Sri Lanka, the country’s foreign minister said in […]
China's pledge to support Sri Lanka's debt reorganization, a major step for the island nation in securing an IMF lifeline, provides little clarity on how negotiations will unfold or whether this could herald progress for other heavily indebted nations.The post Analysis: China paves Sri Lanka’s way to IMF funds, but debt talks remain uncertain appeared first on Sri Lanka News - Latest Breakin...
The International Monetary Fund (IMF) on Tuesday said Sri Lanka had secured financing assurances from all its major bilateral creditors, paving the way for the IMF board to consider approval of a long-awaited $2.9 billion four-year bailout.The post IMF board poised to approve $2.9 billion Sri Lanka bailout appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
In a major breakthrough, Sri Lanka has received a financial assurance letter from the Exim Bank of China and the letter of agreement has been sent to the International Monetary Fund (IMF). President Ranil Wickremesinghe told Parliament that he received the financial assurance letter from the Exim Bank of China last night and he and […]
[…]The post President Ranil Wickremesinghe’s Special Statement – Full Text appeared first on Colombo Telegraph.
Half of families in Sri Lanka are forced to reduce the amount they feed their children, according to a survey by Save the Children, as the country’s economic downturn spirals further into a full-blown hunger crisis nearly a year after the government defaulted on its debt.The government and international community must act now to prevent […]
Waste management causes issues Hydropower was Sri Lanka’s primary energy source when it gained independence from the British. The first ever hydropower project, Laxapana, was commissioned in 1950 and is described as an innovative design by Engineer D.J. Wimalasurendra. Since then, there have been several hydropower projects initiated in Sri Lanka. Under the Mahaweli multipurpose […]
Wednesday 1st March, 2023 Sri Lanka finds itself in the same predicament as a gang rape victim being forcibly kept in the custody of her rapists. Those who are responsible for stealing public funds, mismanaging the economy and bankrupting it continue to be in power. Worse, while living high on the hog at the expense […]
[…]The post Sri Lanka’s Two Challenges: Economic Recovery & Political Devolution appeared first on Colombo Telegraph.
A decision has not been taken to suspend the fuel pass QR code system from April, Power and Energy Minister Kanchana Wijesekera said today. There were reports that the fuel pass QR code system will be suspended from 10th April. However, Wijesekera said the system will continue. He said that data will be analysed and […]
Aljazeera reports that there is a severe shortage of greenbacks in Bangladesh due to its dwindling foreign reserves and a sharp drop in the value of its taka currency against the dollar. In the past six months, Bangladesh’s foreign reserves have dropped below $32bn from $39bn while the value of the taka has fallen by […]
By Noah Berman A wave of darkness engulfed Pakistan on January 24 as its aging power grid strained to meet the country’s demand for electricity. The massive outage was the latest in a series of blackouts that have become a chronic symptom of Pakistan’s ailing and climate-vulnerable economy, under duress from devastating natural disasters, a colossal […]
President Ranil Wickremesinghe says a loan under the International Monetary Fund (IMF) Extended Fund Facility (EFF) is expected to be received in March. He expressed these views during a meeting held with small and large-scale rice mill owners at the Presidential Secretariat, the President’s Media Division said today. The IMF had said last week that […]
Sri Lanka President Ranil Wickremesinghe said under the International Monetary Fund’s (IMF) extended fund facility (EFF) program, USD 2.9 billion is expected to be received by March.The post Sri Lanka President expects IMF Extended Fund Facility in March appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The economic and financial condition of Sri Lanka is very precarious at the moment. It has been facing the worst economic crisis since its independence in 1948. The Sri Lankan economy is going through a high rate of inflation, a shortage of essential commodities including fuel and medicines, and a depleted foreign exchange reserve insufficient […]
By N Sathiya Moorthy Why blame the politicos alone when almost all independent institutions under the Constitution are confused and are confusing the rest? Though claimed not to be linked to the decision to hold nation-wide Local Government (LG) elections, now notified for 9 March, the resignation of one of the commissioners, Mrs P S […]
[…]The post Tax! Tax!! Tax!!! appeared first on Colombo Telegraph.
[…]The post Did Faulty Constitution Bring Misery? – Undermining The State Is The Game appeared first on Colombo Telegraph.
Thursday 9th February, 2023 President Ranil Wickremesinghe, who presented his government’s policy statement in Parliament, yesterday, sounded like a seasoned insurance sales agent with glib phrases rolling off his experienced tongue; he sought to scare the public and infuse them with hope, at the same time, to sell his policies. The knee-jerk reaction of the […]
Sri Lanka has the potential to establish the green economy, specially by way of renewable energy, said President Ranil Wickremesinghe addressing a High-Level event on Strategies and Actions to Accelerate Sri Lanka’s Transition to a Green Growth Pathway.The post Sri Lanka has initiated an action plan to ensure a Green Economy by 2050 – President appeared first on Sri Lanka News - Latest Break...
[…]The post Seventy Five Years Of Independence Or Curse appeared first on Colombo Telegraph.
Pakistan is gripped by a major economic crisis, with the rupee plummeting, inflation soaring and energy in short supply as IMF officials visit to discuss a vital cash injection.The post ‘We’ll end up like Sri Lanka’: Pakistan stares at economic collapse as IMF visits appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.