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[…]The post Greenwashing Bond Scams & Financializing Mother Nature: Climate Science Fiction Versus Local Realities appeared first on Colombo Telegraph.
Sri Lanka expects to receive the second installment of the loan provided under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) in December, 2023.The post Sri Lanka expects second tranche of IMF loan in December appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Shamindra Ferdinando One-rime Secretary of the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) Lacille de Silva yesterday (17) said that leaders of political parties represented in Parliament should set up a committee to study the landmark Supreme Court […]
Sri Lankan government had shared the details and the conditions of the 4.2 billion dollar debt deal with China with other creditors, Governor of the Central Bank Dr. Nandalal Weerasinghe told Bloomberg.Governor Weerasinghe expressed optimism about restructuring Sri Lanka’s debt through the official creditors committee, aiming to secure IMF support for a 330 million dollar […]
Sri Lanka’s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors a key sticking point with countries like India paving the way for more loans from the International Monetary Fund.The post Sri Lanka gives China deal details, keeping IMF aid on track appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The momentous event of the week-ended-today was the presentation of Budget 2024 by the President in his capacity as the Minister of Finance. Usually, Sri Lankan Presidents keep away from Parliament; not Ranil Wickremesinghe, and a jolly good move it is. The Island of Tuesday November 14 headlined the VI Event as: “Prez presents Budget […]
By Saman Indrajith TNA Jaffna District MP M.A. Sumanthiran told Parliament on Wednesday that Rajapaksa brothers had enough money to compensate 22 million people in the country. Participating in the second reading debate on Budget 2023, MP Sumanthiran said that his party welcomed the Supreme Court determination that ex-President Gotabaya Rajapaksa, along with former Finance […]
The Supreme Court has found the Rajapaksa brothers guilty of causing the economic crisis in Sri Lanka. The Supreme Court ruled that former President Gotabaya Rajapaksa, former Prime Minister Mahinda Rajapaksa and former Finance Minister Basil Rajapaksa were among those responsible for the crisis
Budget highlights Following are the highlights of Budget proposals made by President Ranil Wickremesinghe in Parliament yesterday: New economic and political system The President said in order not to fall back into a crisis, the economic and political system of Sri Lanka must be created anew
* Tax revenue to be raised by 47.1% in 2024 * Rs 10,000 increase for public sector workers * Pensioners to get Rs 2,500 allowance * Rs. 450 bn reserved for bank recapitalization * Four new universities to be established * 20% of state banks to be given off by Saman Indrajith President Ranil Wickremesinghe, […]
Sri Lanka's government projected a lower-than-anticipated budget deficit for 2024 on Monday on the back of a significant jump in revenues which are crucial to keep its bailout programme from the International Monetary Fund afloat.The post Sri Lanka’s 2024 budget sets ambitious revenue, deficit targets appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka is likely to raise taxes and curb spending in its annual budget to meet the International Monetary Fund’s conditions and maintain a $3 billion bailout, but elections next year might see the government delay some reforms.The post Sri Lanka to use budget to meet some IMF pledges as polls near appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The World Bank’s Board of Executive Directors on Thursday approved $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector. “Sri Lanka’s economic crisis highlights the need for strong safety nets to support the financial sector. Stable and reliable banking
The World Bank’s Board of Executive Directors today approved $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector.The post World Bank approves $150 million to strengthen financial sector in Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka President Ranil Wickremesinghe will seek to boost tax revenue and rationalise spending in the government’s second full-year budget on Monday, targeting a return to growth for the crisis-hit economy while keeping an eye on elections.The post Sri Lanka balances polls and crisis recovery
Sri Lanka and Argentina remain very vulnerable amid a worsening in global financial conditions while China has suffered a sharp deterioration in financial resilience since pre-COVID times, a think-tank study found on Wednesday.The post Sri Lanka, Argentina top list of most vulnerable economies -study appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post SOE 2023: IPS Offers Some Inputs To Proposed Growth Lab appeared first on Colombo Telegraph.
By N Sathiya Moorthy In a television interview last month, Foreign Minister Ali Sabry reportedly said that the Government of President Ranil Wicrkemesinghe has taken ‘substantial steps to move away from a Welfare State’ in the last 18 months. And he said it not as if it was inevitable under the nation’s economic circumstances and […]
By Uditha Devapriya There is an important aspect to recent debates over the government’s economic reforms and proposed laws, which include the Draft Online Safety Bill (OSB); and that is the government’s perspective on them. The government frames these reforms and laws as not just important but also essential. The reforms, it states, are crucial […]
The World Bank’s Managing Director for Operations, Anna Bjerde, concluded her four-day visit to Sri Lanka on Wednesday (November 01), encouraging the Government of Sri Lanka to stay the course on reforms for recovery and sustainable growth.The post World Bank’s Managing Director urges need for reform continuity, concludes visit to Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaki...
As Sri Lanka recovers from a series of unprecedented shocks with devastating impacts, it is crucial to stay the course on sound and timely reforms in order to stabilize the economy, World Bank Managing Director for Operations, Anna Bjerde, said. Anna Bjerde, who concluded a four-day visit to Sri Lanka, underscored the World Bank’s continuous commitment […]
By Shamindra Ferdinando Justice Minister Dr. Wijeyadasa Rajapakshe, PC, has said the Foreign Exchange Act No 12 of 2017, enacted during the Yahapalana administration was meant to facilitate the operations of those who exploited the system for their benefit. The new Act had repealed the Exchange Control Act of 1953, Dr. Rajapakshe said, adding that the Yahapalana move […]
Sri Lanka's key inflation rate rose to 1.5% in October from 1.3% a month ago, the statistics department said on Tuesday.The post Sri Lanka’s key inflation rate rises to 1.5% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Current State Of Sri Lankan Economy, According To Dhananath Fernando appeared first on Colombo Telegraph.
[…]The post Unelected Team At The BRI Forum: Speaking From Both Sides Of Mouth appeared first on Colombo Telegraph.
[…]The post Climate Change: A Red Flag For Environmental Security In Sri Lanka appeared first on Colombo Telegraph.
Sri Lanka has decided to continue to actively participate in the Belt and Road Initiative proposed by China. Issuing a joint statement, Sri Lanka reiterated that it will never allow any separatist activity against China on Sri Lanka‘s soil. The joint statement by China and Sri Lanka was issued following a visit to China by President Ranil Wickremesinghe […]
The International Monetary Fund (IMF) is looking for a strong budget and narrower deficit from Sri Lanka as it seeks funding to bridge the gap between government revenue and expenditure, the IMF mission chief for the country said on Friday.The post IMF wants strong budget, narrower deficit from Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
China is willing to offer assistance to Sri Lanka without political conditions and buy more of its exports, President Xi Jinping told his Sri Lankan counterpart on Friday in Beijing, state media said.The post China’s Xi offers to help Sri Lanka; buy more of its exports appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
China today assured medium and long-term support for Sri Lanka, during talks between President Ranil Wickremesinghe and Chinese Finance Minister Liu Kun. The Chinese Finance Minister reaffirmed China’s commitment to extend comprehensive support for the implementation of a medium-term and long-term program that is mutually beneficial to both parties and aimed at optimizing Sri Lanka’s […]