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IMF chief Kristalina Georgieva did not mince her words about emerging and heightening crisis tendencies in the global economy. She said, among other things recently, that the IMF’s projection of 2.8 percent global growth for 2023 “is not enough to bring opportunities to businesses and people around the world, and most worrisome is the projection […]
• Says existing system of international debt schemes hinders vulnerable, developing economies • Urges for political will at global level to reform international financial architecture • Requests for support in debt restructuring, debt sustainability and adequate climate financing By Sanath Nanayakkare Shehan Semasinghe, State Minister of Finance speaking at the UN ECOSOC Financing for Development ...
A committee of Sri Lanka’s international private creditors sent its first debt rework proposal to the country’s authorities regarding over $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter.The post Sri Lanka’s bondholders send debt rework proposal to government appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
While the days of good news are going on for India, the latest good news is that our country’s currency, the rupee, is gradually making its place and influence among countries of the world. Seeing the increasing role of India in international trade, the countries of the world are coming forward to do financial transactions […]
The UK is set to be one of the worst performing major economies in the world this year, according to the International Monetary Fund (IMF). It says the UK economy’s performance in 2023 will be the worst among the 20 biggest economies, known as the G20, which includes sanctions-hit Russia. The IMF predicts the UK […]
Talks between the EU and 5 countries in South Asian region were held in New Delhi and online, as part of EU-funded workshop series supporting the ‘Farm to Fork’ (F2F) Strategy put in place by the EU in the context of the wider ‘Green Deal’. Stakeholders from India, Bhutan, Sri Lanka, Bangladesh and Nepal have […]
[…]The post Threats To The Hegemony Of The US Dollar appeared first on Colombo Telegraph.
Sri Lanka's national carrier has been struggling against even more headwinds than many of its rivals.The post Sri Lanka airline boss says ‘don’t be a CEO during Covid’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Sri Lankan government is seeking Russian cooperation in multiple sectors, namely, tourism, air traffic, and locomotive construction, besides eyeing crude from Moscow.The post Sri Lanka mulls buying Russian oil & fertilizers appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Finland’s main conservative party claimed victory in parliamentary elections Sunday in a tight three-way race that saw right-wing populists take second place, leaving Prime Minister Sanna Marin’s Social Democratic Party in third, dashing her hopes for reelection. The center-right National Coalition Party (NCP) claimed victory with all of the votes counted, coming out on […]
An open letter to President Ranil Wickremesinghe Recent articles in the local press have publicised the government plans for introduction of nuclear power plants to Sri Lanka with Russian support. A similar decision was taken way back in 2010, by the then President to bring nuclear power plants to Sri Lanka from South Korea. At […]
[…]The post Vladimir Putin, Xi Jinping & Joe Biden appeared first on Colombo Telegraph.
[…]The post Love Him Or Hate Him: Only Ranil Wickremesinghe Has The Depth Of Mind To Focus On Future Directions appeared first on Colombo Telegraph.
Sri Lankan President Ranil Wickremesinghe emphasized during an interview organized by Harvard University on the 24th, through Zoom technology, that Sri Lanka’s access to the growing Indian and African markets should not be disrupted by any big power rivalry or conflictThe post Sri Lanka’s access to growing Indian & African markets cannot be disrupted – President Ranil appeared fir...
By N Sathiya Moorthy Like it or not, in the next big election in the country, or more of them, the IMF would be the key issue. The way the government has been dragging its feet on the relatively less important local government elections (LGE), and not all its arguments are wrong, the presidential elections […]
[…]The post Conflict Resolution Might Be The Way Out? appeared first on Colombo Telegraph.
India says under its ‘Neighbourhood First’ policy it has always come forward to help debt-ridden Sri Lanka, and in the latest instance New Delhi has distributed rations in Kalmunai. Taking to Twitter, the High Commission of India in Colombo said, “Support by @IndiainSL to needy sections continues!! Glimpses of ration distribution in Kalmunai.” The cash-strapped […]
[…]The post To Be Or Not To Be (A US Military Base) appeared first on Colombo Telegraph.
India had helped Sri Lanka more than any other country, especially, Sri Lanka’s Foreign Minister Ali Sabry said during Raisina Dialogue ‘Ideas Pod.’ While the Indian government took some bold decisions to help Sri Lanka face its economic crisis, even the Indian public came forward to support Sri Lanka, the country’s foreign minister said in […]
It is welcome news for progressive opinion in the global South that some seven countries, thus far seen as having been among the poorest countries of the world, would be ‘graduating’ out of the Least Developing Country (LDC) category. Among them are; Bhutan, Bangladesh, Laos, Nepal and Angola. Hopefully, development researchers the world over would […]
CIA Chief’s cloak-and-dagger visit: By Shamindra Ferdinando Pivuthuru Hela Urumaya (PHU) leader, Udaya Gammanpila, MP, yesterday (06) said that the Wickremesinghe-Rajapaksa government and the US embassy in Colombo should come clean on CIA Director William Joseph Burns’ Colombo visit. The former Power and Energy Minister said so in response to The Island query whether the […]
By N Sathiya Moorthy The recent statements by Cabinet spokesman, Minister Bandula Gunawardena and Prof S.R.D. Rosa, the Chairman of the Sri Lanka Atomic Energy Board (SLAEB) that the nation intends going nuclear not very long from now should trigger a series of far-and-against debates in the public space, starting possibly with the social media. […]
Monday, 6th March, 2023 The Rajapaksa-Wickremesinghe regime has been painting itself into a corner on the political front by going all out to scuttle the local government (LG) polls. It succeeded in delaying the elections by manipulating the Treasury to deprive the Election Commission (EC) of funds, but Friday’s Supreme Court (SC) interim order has […]
The International Monetary Fund (IMF) on Saturday called for ‘timely and orderly processes’ under common framework with regards to Sri Lanka’s debt resolution. The island nation faced severe economic crisis which resulted in high debt.The post IMF calls for ‘timely and orderly processes’ of debt resolution for Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lan...
[…]The post Sri Lanka’s Asian Heritage appeared first on Colombo Telegraph.
Aljazeera reports that there is a severe shortage of greenbacks in Bangladesh due to its dwindling foreign reserves and a sharp drop in the value of its taka currency against the dollar. In the past six months, Bangladesh’s foreign reserves have dropped below $32bn from $39bn while the value of the taka has fallen by […]
By Noah Berman A wave of darkness engulfed Pakistan on January 24 as its aging power grid strained to meet the country’s demand for electricity. The massive outage was the latest in a series of blackouts that have become a chronic symptom of Pakistan’s ailing and climate-vulnerable economy, under duress from devastating natural disasters, a colossal […]
Sri Lanka needs to get back to growing its economy. It needs a new push towards development, one that harnesses good ideas and creates wealth for all its citizens. The name of the game is wealth creation – for all. Then governments will have something to tax! But somehow, little Sri Lanka hasn’t quite grasped […]
By Shamindra Ferdinando The Supreme Court (SC) on Feb. 10 dismissed a contempt of court application filed by the Human Rights Commission of Sri Lanka (HRCSL), delivering a shock therapy to the latter. The HRCSL filed the contempt case against the Chairman of the Ceylon Electricity Board (CEB) N.S. Illangakoon, the Secretary to the Ministry […]
India is drafting a proposal for G20 countries to help debtor nations badly hit by the economic fallout from the pandemic and Ukraine war, by asking lenders including China, the world's largest sovereign creditor, to take a large haircut on loans.The post Exclusive: G20 host India to propose China