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FitchRatings has downgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’, and has affirmed the Long-Term Foreign-Currency IDR at ‘RD’ (Restricted Default). Fitch typically does not assign Outlooks to ratings of ‘CCC+’ or below. Fitch has also removed the Long-Term Local-Currency IDR from Under Criteria Observation, on which it was placed […]
=AG alleges Inland Revenue withheld info citing Constitution By Shamindra Ferdinando The Government Medical Officers Association (GMOA) yesterday (02) asked the government to explain its continuing failure to recover as much as Rs 773 bn in taxes, penalties and interest against the backdrop of unprecedented new tax hikes to bridge the record deficit. GMOA Secretary […]
US Secretary of State Antony J. Blinken and Sri Lankan Foreign Minister Ali Sabry had talks in Washington on debt restructuring and the International Monetary Fund (IMF) deal. Speaking to reporters ahead of his meeting with Sabry, Blinken noted that Sri Lanka and the US had almost 75 years of partnership with Sri Lanka. “We’ll […]
The utilization of 5,000 hectares of land in Moneragala, Kotiyagala and Kabilitta for farming was discussed yesterday (01 Dec), as a precautionary measure for the food crisis Sri Lanka is expected to face in the future.
[…]The post Charting A New Beginning? appeared first on Colombo Telegraph.
[…]The post Ranil’s Infidelity To Truth & Fair Play appeared first on Colombo Telegraph.
The deadly Urumqi fire prompted widespread resistance in major cities including Beijing and Shanghai reflecting growing public impatience. Resistance against China’s persistent and unyielding pandemic controls broke out in Shanghai and other major cities as well as in universities last week which was described as an acid test for the leadership of Xi Jinping and […]
France says it continues to support Sri Lanka’s ambitious path towards 70% renewable energy by 2030 despite the ongoing economic crisis. The French Development Agency (AFD)signed a grant agreement worth 450.000 Euros with the Ceylon Electricity Board (CEB) and Electricité de France (French electric utility) to support the increasing share of intermittent renewable energies in […]
Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’, and has affirmed the Long-Term Foreign-Currency IDR at ‘RD’ (Restricted Default). Fitch typically does not assign Outlooks to ratings of ‘CCC+’ or below. Fitch has also removed the Long-Term Local-Currency IDR from Under Criteria O...
The United States (US) says political reforms need to accompany economic reforms in Sri Lanka. USAID Administrator Samantha Power met with Sri Lanka’s Foreign Minister Ali Sabry to further USAID’s understanding of the Government of Sri Lanka’s priorities and reforms to address the country’s economic crisis. The two discussed how USAID can support a viable […]
Sri Lanka’s Colombo city is among the world's least expensive cities to live in according to the annual Economist Intelligence Unit (EIU) survey.The post Sri Lanka’s Colombo city among world’s least expensive cities to live appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
United States Agency for International Development (USAID) administrator Samantha Power yesterday emphasised that political reforms need to accompany economic reforms in Sri Lanka.The post Political reforms need to accompany economic reforms in Sri Lanka – Samantha Power appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Fitch on Thursday downgraded Sri Lanka’s Long-Term local-currency debt rating by two notches to “CC” from “CCC”, citing a probable local-currency debt default in the face of high interest costs and tight domestic financing conditions.The post Fitch downgrades Sri Lanka’s local currency debt rating to ‘CC’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLA...
By Saman Indrajith All the crises Sri Lanka was beset with were due to the country’s outdated education system, MP Dullas Alahapperuma told Parliament yesterday. “The political and economic crisis we are facing is the direct result of our education,” he said. The Sri Lankan education system had not changed with global developments. Our system […]
[…]The post The Latest IMF Condition – Make The Central Bank Independent appeared first on Colombo Telegraph.
Friday 2nd December, 2022 A diplomat attached to the Sri Lankan Embassy in Muscat has been arrested upon his arrival at the BIA and remanded for his alleged involvement in a human trafficking racket, where women smuggled out of this country were forced into prostitution in Oman. According to some media reports, they were auctioned […]
The apparel industry in Sri Lanka which is aiming towards USD 8 billion in export revenue by 2025, has called on the Government to secure more Free Trade Agreements (FTA). Chairman of the Sri Lanka Apparel Exporters Association (SLAEA) Indika Liyanahewage highlighted five key policy reforms that are imperative for the industry to move forward. […]
Sri Lanka aims to restore growth to pre-crisis levels in 2026, Finance State Minister Shehan Semasinghe said on Wednesday, with policymakers intent on meeting a December deadline to present proposals that might help unlock an International Monetary Fund bail-out.
As a major shareholder of the International Monetary Fund (IMF), China has been encouraging the IMF and other international financial institutes to promptly support Sri Lanka to deal with the current economic crisis, the Chinese Embassy in Sri Lanka said.The post China continuously encouraged IMF to support Sri Lanka – Chinese Embassy in Sri Lanka appeared first on Sri Lanka News - Latest Br...
Sri Lanka crossed the billion dollar milestone in earnings from tourism in October when the country earned US$ 75.6 million from the trade, which is providing a glimmer of hope for the country’s economy beset by acute shortages of foreign currency since the middle of last year.The post Sri Lanka’s Tourism industry earnings surpass US$ 1 Billion mark appeared first on Sri Lanka News - Latest ...
[…]The post The Importance Of Not Being Centrist appeared first on Colombo Telegraph.
Sri Lanka is seriously looking at China-Pakistan Economic Corridor (CPEC) as the project can help improve trade ties with Pakistan, while opening up further business opportunities with the Central Asian Republics (CARs), Sri Lankan High Commissioner Vice Admiral Mohan Wijewickrama said. “Sri Lanka’s trade can be developed by connecting Gwadar Port with Colombo Port, which […]
Thursday 1st December, 2022 We have been wondering, during the past few days, whether the ongoing parliamentary debate is on Budget 2023 or Buddhism. President Ranil Wickremesinghe, JVP leader Anura Kumara Dissanayake and Opposition Leader Sajith Premadasa have been arguing over some Suttas, or different interpretations thereof. Yesterday, Premadasa treated the House to a brief […]