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Resignation announcement of both President and PM boosted investors sentiment.
Sri Lanka's central bank governor signalled on Monday he would stay in the job but warned that prolonged political instability in the country may delay progress on negotiations with the International...Click on the headline to read the full story
Prolonged political instability in Sri Lanka may delay progress on negotiations with the International Monetary Fund for a bailout package, the central bank governor told Reuters on Monday, after protesters forced the president and prime minister to offer their resignations.
Hopes new administration will not block IMF deal
ECONOMYNEXT –Sri Lanka should stop money printing earlier than indicated in a statement by Prime Minister Ranil Wickremesinghe, opposition legislator Harsha de Silva said, though legislators have already given extensive powers to the agency engage in liquidity injections. “Prime Minister Ranil Wickremesinghe talked about money printing,” de Silva told parliament. “He said, the in...
[…]The post We Are On Course To A Dual Currency Regimen appeared first on Colombo Telegraph.
The International Monetary Fund (IMF) has called for the resumption of dialogue to reach an agreement with Sri Lanka. Peter Breuer, IMF Senior Mission Chief for Sri Lanka, and Masahiro Nozaki, IMF Mission Chief for Sri Lanka said that the IMF is closely monitoring the ongoing developments in Sri Lanka. “We hope for a resolution […]
President Rajapaksa, Prime Minister Wickremesinghe to resign
[…]The post War On China? – V: A “Carnival” Of Quads appeared first on Colombo Telegraph.
Market expects stocks to fall due to rate hike.
Protesters, however, vowed to agitate as planned and oust Gotabaya Rajapaksa
Protesters have vowed to agitate near Presidential residence until Rajapaksa resigns
No country wants to help Sri Lanka despite a deep economic crisis; past records weigh
[…]The post Jeered & Sent Home: Ominous Sign Of An Impending Peril appeared first on Colombo Telegraph.
Monetary instability losses come from both past loans and higher import prices
Rate hike, fuel shortage, and looming political crisis weighed on investor sentiment
Some analysts said the market was expecting a 300 basis point rate hike on Thursday
"Because we have a threat of risk to the banks as well."
PM says monetary financing will be ended only in early 2024
Says economy could contract 7-pct in 2022
Thousands of paddy farmers are struggling to recover after Rajapaksa banned agro chemicals.
Sri Lanka is desperate for foreign currency earnings through tourism
Fuel shortage has led the country almost to a stand still.
Thousands of Sri Lankan farmers protested against the government demanding chemical fertilizer
[…]The post The Financial Crisis – Mismanagement, Fear Or Collusion? appeared first on Colombo Telegraph.
Sri Lanka’s total debt burden increased to Rs 21.6 trillion by March 2022, Prime Minister Ranil Wickremesinghe told Parliament today. He said that Sri Lanka needs to pay $3.4 billion between June and December this year, $5.8 billion in 2023, $4.9 billion in 2024, $6.2 billion in 2025, $4.0 billion in 2026 and $4.3 billion […]
Food prices in Sri Lanka rose 80.1 percent in the 12 months from June 2021 to June 2022.
Expects to bring debt to 95-pct of GDP by 2032
China displaced to third place