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An eye witness piece by Economy Next reporters who share what they saw in July 9 Sri Lankan revolution.
Former Central Bank Governor Arjuna Mahendran, wanted by Sri Lankan authorities, speaking to CNN Philippines about the island nation s crisis situation said the government of Sri Lanka is finding it difficult to persuade lenders.
Respondents include former CBSL governors W D Lakshman and Ajith Nivard Cabral.
"We had around 7000 bakeries. Now we have only 3000. More than 50 percent closed during the last 6 months."
A motion has been filed in the Supreme Court seeking an overseas travel ban on former Prime Minister Mahinda Rajapaksa, former Finance Minister Basil Rajapaksa and former Governor of the Central Bank of Sri Lanka, Ajith Nivard Cabraal. The motion seeks an investigation to be carried out on the individuals responsible for the economic crisis […]
COLOMBO (News 1st); The Central Bank of Sri Lanka (CBSL) published the daily exchange rates on its official website. Here are today’s exchange rates: USD Buy 356.9558 Sell 368.3011 GBP Buy 422.0525 Sell 439.0929 EUR Buy 356.1345 Sell 370.7057 JPY Buy 2.5880 Sell 2.6972 AUD Buy 238.2609 Sell 249.7012Daily Exchange Rate from CBSL
Many Rajapaksa family members have gone hiding and whereabouts are unknown since July 9.
The gas shortage left many families unable to cook meals to feed themselves.
The Minister of Finance has issued an Order under Section 8 of the Foreign Exchange Act No. 12 of 2017 extending the amnesty period granted for persons in or resident in Sri Lanka to deposit or sell the foreign currency in possession to an Authorized Dealer (A Licensed Commercial Bank or National Savings Bank) as specified in the Order, by another 14 working days up to 26.07.2022.
By Eng. Thushara Dissanayake The country is in a deep economic crisis to which everyone equally contributed. We, as citizens, have consumed beyond our capacities prompted by the economic mismanagement of the leaders. The higher officials and advisors either misled those leaders or humbly remained without being at odds. In terms of investments, the government […]
By Hiran H.Senewiratne The government should expedite implementation of reforms relating to State Owned Enterprises (SOEs). However, the Central Bank is already implementing monetary policies to put the economy on the right track, CBSL Governor Dr. Nandalal Weerasinghe said. “The Central Bank alone cannot do it. Parliament has to expedite implementation of reforms mainly in […]
ECONOMYNEXT – Sri Lanka has announced a suspension only on foreign debt and rupee securities are not part of the re-structuring, Central Bank Governor Nandalal Weerasinghe said amid concerns that a rupee securities will be subject to a second nominal hair cut.Unlike dollar denominated debt, rupee securitieshad already suffered a severe haircut when the rupee fell from 200 to 360 to the US do...
But 31 percent 3-year bonds accepted
Calls on citizens to uphold the rule of law
Resignation announcement of both President and PM boosted investors sentiment.
A diesel and petrol shipment to arrive between July 15-19
Fuel shipments are scheduled to begin arriving in Sri Lanka from Friday, 15th July, Energy Minister Kanchana Wijesekera said today. He said that last Friday full payments were made with the assistance of the Central Bank of Sri Lanka and the Ministry of Finance to Indian Oil for a diesel cargo to arrive between 15-17 […]
[…]The post The Victory Of Aragalaya: What Actually Happened To Gota & Ranil? appeared first on Colombo Telegraph.
2025 bond on tap at 28.18-pct
COLOMBO (News 1st); Sri Lanka’s Power and Energy Minister Kanchana Wijesekra updated the delivery of fuel to Sri Lanka on Twitter. He said on Friday, full payments were made with the assistance of the Central Bank of Sri Lanka, Ministry of Finance to Lanka IOC for a Diesel Cargo to arrive between the 15th & […]Update on Fuel delivery to Sri Lanka for the next few weeks
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.