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Sri Lanka will remain a middle-income country but request the World Bank to grant it some loans generally offered to poorer nations, the president's office said on Tuesday, clarifying a cabinet spokesperson's earlier comments on the matter.The post Sri Lanka to keep ‘middle-income’ status but seek concessional loans appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka -...
Sri Lankans have lost access to most medicine and medical supplies, setting them on course for a humanitarian disaster, Direct Relief reported. Unlike Russia’s invasion of Ukraine and the recent hurricane batterings of Puerto Rico and Florida, Sri Lanka’s crisis grew slowly and has garnered few international headlines. But Sri Lankans are suffering amid the […]
CPC trade unions oppose the move citing that the government is privatizing the state-run firm
Sri Lanka's central bank is likely to maintain interest rates on Thursday in an effort to get a grip on inflation which has remained stubbornly high despite a sharp contraction in the crisis-hit economy.The post Sri Lanka Central Bank to hold rates as inflation worries persist appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Human Rights Compliant Recovery Measures Critical To Stop Spiraling Hunger & Poverty In Sri Lanka: Amnesty International appeared first on Colombo Telegraph.
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
Sri Lanka is struggling to secure dollar earnings and that has threatened its fuel, gas imports.
A meeting was held with the minister and other stakeholders on September 06
Consumer inflation in Sri Lanka accelerated to 70.2% in August,the statistics department said on Wednesday, as the island nation reels under its worst economic crisis in decades.The post Sri Lanka inflation rate surges to 70.2% in August appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Wickremesinghe also met King Charles III on Sunday September 18.
[…]The post How We Came To This Pass – On The “Non-Rule Of Law System” appeared first on Colombo Telegraph.
A food crisis in Sri Lanka looms as the island nation faces its worst economic disaster in decades. With food price inflation higher than 90%, even staples like rice have become almost unaffordable for many Sri Lankans. The World Food Programme (WFP) estimates that about 30% of the population is food insecure and that one out of […]
Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.The post Sri Lanka’s economy shrinks 8.4
An online crowdfunding platform titled ‘Rebuild Sri Lanka’ launched by the United Nations Development Programme (UNDP) is now live providing the opportunity for global citizens to contribute to alleviating the impacts of the crisis in the island nation, the UNDP said.The facility can be accessed at www.undp.org/srilanka/donate. Sri Lanka is undergoing its worst economic crisis […]
[…]The post Is Unelected President Ranil A Vicious Hypocrite? appeared first on Colombo Telegraph.
Interested parties can contribute to two ailing sectors: healthcare and food.
Sri Lanka’s ousted President Gotabaya Rajapaksa, who returned home after seven weeks in exile following protests over economic hardships, could face legal action over forced disappearances of activists now that he has been stripped of constitutional immunity, a lawyer said. Rajapaksa flew to Colombo around midnight Friday from Thailand and was escorted under military guard […]
(PTI) The IMF chief Kristalina Georgieva yesterday (4) said she is pleased the Washington-based lender and the Sri Lankan government have reached a staff-level agreement to provide about $2.9 billion to help the bankrupt country, terming the deal as an “important step forward.” The International Monetary Fund (IMF) on Thursday announced that it will provide […]
Sri Lanka’s High Commissioner in New Delhi, Milinda Moragoda, has declared that the preliminary agreement with the International Monetary Fund (IMF), under which Sri Lanka could receive $2.9 billion to tackle the ongoing economic crisis, is a “first step” in the long haul of economic recovery, but would provide the country and investors “confidence” to […]
Sri Lanka’s former president, Gotabaya Rajapaksa, who fled the country in July after tens of thousands of protesters stormed his home and office in a display of anger over the country’s economic crisis, has returned to the country after seven weeks.The post Sri Lanka’s ousted president Gotabaya Rajapaksa returns home after fleeing appeared first on ONLANKA News :. Sri Lanka Latest Breaking N...
Wickremesinghe is budgeting in a sea of monetary instability
By CHANDRA FERNANDO Educational Consultant, USA The last few months of this year have been a time of great anxiety and much hardship for the people of Sri Lanka. No matter on which side of the political divide one stands, common problems converge into a cloud of nervousness, unease and uncertainty. Sri Lankans have not […]
By N Sathiya Moorthy After a steep, 75-per cent hike in power-tariffs, the government has now announced increased charges for water and drainage charges. Though brought down after a steeper increase at the peak of fuel-shortage, the transport fares
Sri Lanka is facing a looming food shortage after ban on fertilizer import
By Haroon Janjua Despite gaining independence 75 years ago, Pakistan has yet to rid itself of economic and political crises. As Pakistan marks 75 years of independence this weekend, Islamabad has not planned any special events, aside from a flag-raising ceremony, a fireworks display in the capital and the introduction of a new 75 rupee […]
A team from the International Monetary Fund (IMF) will meet Sri Lanka's president on Wednesday for talks to finalise a bailout package, including restructuring debt of about $29 billion, amid the nation's worst financial crisis in more than seven decades.The post IMF team to holds talks with crisis-hit Sri Lanka on debt restructuring appeared first on ONLANKA News :. Sri Lanka Breaking News Update...
‘Inflation will not be as high as initially expected’ Inflation will not be as high as initially expected and there are signs of economy stabilising, Central Bank Governor Dr. Nandalal Weerasinghe says.Dr. Weerasinghe said that during the past few months a number of initiatives had been made to improve the economy and they were yielding […]
[…]The post Looking At The Problem Of The Point Of View Of The State appeared first on Colombo Telegraph.
[…]The post Protest Movement Can Rebound Unless Government Legitimacy Is Restored appeared first on Colombo Telegraph.
by Jehan Perera The government appears to have secured political stability in the short term. So far President Ranil Wickremesinghe’s efforts to restore stability appear to be working. Political stability is necessary for decisions to be made and kept. It is a necessary element for international support to come in. One of the IMF’s conditions […]