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By By Eng. Parakrma Jayasinghe Bio Energy Association of Sri Lanka The much-awaited outcome of the interim President is now over. Will this result in some measure of hope for the beleaguered public of reversing the downward slide of the economy and the resultant crisis on the very livelihood of most strata of the society? […]
Hambantota in southern Sri Lanka housed ousted President Gotabaya Rajapaksa following the recent crisis, until he was forced to flee the country entirely. That continues a trend of the city, and especially its strategic deep-sea port, being in the news for all the wrong reasons. In 2017, when Sri Lanka found itself struggling to make […]
The government defaulted an interest payment of 78 million US dollar of a sovereign bond on May 19
Sri Lanka is struggling to find dollars to import fuel
Indian billion dollar credit line also works Undiyal fashion
[…]The post Economy Should Be The Top Priority Of The New (Or More Correctly The Old) Government appeared first on Colombo Telegraph.
[…]The post 9th July Revolution Ousted Rajapaksa Dynasty; So, Let It Imprimatur appeared first on Colombo Telegraph.
Sri Lanka has not reached any initial agreement with the IMF on debt relief, and its largest creditors - the Asian Development Bank (ADB) and the World Bank - are urged to come up with a package that would speed up its debt restructuring process, Sri Lanka’s Ambassador to China Palitha Kohona told the Global Times in an exclusive interview.The post Sri Lanka’s Ambassador to China urges ADB a...
India has surpassed China to become the top lender to Sri Lanka, as the former came to the rescue when Sri Lanka started experiencing some acute shortage of foreign currency from the beginning of the year which reached a breaking point in March causing a complete collapse of the country’s
The Narendra Modi government has called for an all-party meeting on Tuesday evening to discuss the crucial issue of the Sri Lanka crisis.The post Indian government calls an all-party meet on Sri Lanka crisis appeared first on ONLANKA News - Sri Lanka News - Latest News Sri Lanka - Breaking News from Sri Lanka.
By Michael Rowand As Sri Lankan protesters stormed the presidential residence in Colombo, the Chinese Embassy released no statements and did not tweet. The Chinese Ministry of Foreign Affairs offered no comment until Monday afternoon, well behind others such as India, the European Union, and the United States. The French Embassy even retweeted a tweet […]
[…]The post The Destiny Of China’s Colony Of Sri Lanka appeared first on Colombo Telegraph.
Rajapaksa finally resigns after over 3 month protest
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
Sri Lanka is desperate for foreign currency earnings through tourism
[…]The post The Financial Crisis – Mismanagement, Fear Or Collusion? appeared first on Colombo Telegraph.
[…]The post Child’s Guide To True Cost Of Activities: Concept Of Opportunity Cost appeared first on Colombo Telegraph.
[…]The post Mission Impossible appeared first on Colombo Telegraph.
Stocks have been on a downward trend mainly due to higher interest rates
Prime Minister Ranil Wickremesinghe informed Parliament today that Sri Lanka was facing the threat of hitting rock bottom. He also said that going to the International Monetary Fund (IMF) is the only option Sri Lanka has to resolve the economic crisis. The Prime Minister said that the aim of the Government is to hold discussions […]
Talks will continue over the next few days with an IMF delegation already in the island nation, he said.
Stock index rebound from near 8-week low.
[…]The post Sri Lankan Economy Heading Towards A Dangerous Phase appeared first on Colombo Telegraph.
Protests beginning to father pace as petrol, diesel shortages threaten to bring the country to a standstill
[…]The post Ranil: A SWOT Appraisal appeared first on Colombo Telegraph.
Passenger transport, goods transport hit
Sri Lanka's ongoing economic crisis has threatened a looming food crisis.
Three-wheel drivers blocked the Galle Road in Dehiwala today and obstructed traffic, demanding fuel. The three-wheel drivers accused the authorities of failing to resolve the fuel crisis. They said that the crisis has affected their day-to-day income as they have not been able to operate their three-wheel taxis. The drivers placed their three-wheelers across one […]
Currency crisis has triggered forex shortages