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By R. R. M. Lilani After pledging to renegotiate its debt to Sri Lanka, China is back on track. Besides, since Sri Lanka urgently needs China to restructure its USD 7 billion debt to the country, Sri Lanka has vowed to support the dragon at this juncture by conceding to its demands. High-ranking Chinese VIPs […]
Sri Lanka's key inflation rate eased to 35.3% in April from 50.3% in March, the statistics department said on Friday, a sign of relief for the crisis-battered economy.The post Sri Lanka’s key inflation rate eases to 35.3% in April appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
The agreement reached by the Sri Lanka Government pertaining to implementation of the Extended Fund Facility (EFF) program of the International Monetary Fund (IMF) for Sri Lanka passed in Parliament of Sri Lanka today (April 28).The post Sri Lanka Parliament votes in favour of IMF’s Extended
The Resolution for the Implementation of the Arrangement under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) for Sri Lanka was passed in the parliament today (April 28) with majority votes.
Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades.The post Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
Sri Lanka is trying to reduce its overall debt by $17 billion through restructuring, its president told the parliament on Wednesday as he sought support of opposition parties for a nearly $3 billion International Monetary Fund (IMF) programme.The post Sri Lanka trying to reduce overall debt by $17
By Shamindra Ferdinando SLPP MP Prof. G. L. Peiris has found fault with the International Monetary Fund (IMF) for not paying sufficient attention to waste, corruption and economic mismanagement under the Rajapaksa-Wickremesinghe administration. The former External Affairs Minister emphasised
The Extended Fund Facility (EFF) facility for Sri Lanka from the International Monetary Fund (IMF) is scheduled for a three day debate in Parliament from next Wednesday to Friday. Acting Secretary General of Parliament Kushani Rohanadeera said that party leaders who met on Thursday at the committee
Sri Lanka's National Consumer Price Index (NCPI) (LKNCPI=ECI) eased to 49.2% year-on-year in March, after a 53.6% rise in February, the statistics department said on Friday.The post Sri Lanka consumer inflation dips to 49.2% year-on-year in March appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s plan for a voluntary restructuring of its domestic debt is finding few takers from local banks worried about a hit to their capital, raising the risk of a delay in the country’s financial rescue.The post Sri Lanka risks IMF roadblock as local debt plan gets few takers appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Parliament will debate the International Monetary Fund (IMF) supported Extended Fund Facility (EFF) from April 26 to 28.The decision was made during the political party leaders meeting convened at the parliament complex Thursday morning (20). The meeting was chaired by Deputy Speaker of Parliament
Economists sharply cut Sri Lanka’s growth outlook through this year as curbs on imports and still-limited reserves persist even as the International Monetary Fund releases bailout loans and authorities work toward debt restructuring efforts.The post Sri Lanka GDP outlook slashed as economy
Economists sharply cut Sri Lanka s growth outlook through this year as curbs on imports and still-limited reserves persist even as the International Monetary Fund releases bailout loans and authorities work toward debt restructuring efforts.
Parliament is to debate the deal reached between Sri Lanka and the International Monetary Fund (IMF) on 26, 27 and 28 April. Party leaders decided on the dates to debate the IMF Extended Fund Facility (EFF) for Sri Lanka, when they met today. President Ranil Wickremesinghe had said recently
The political party leaders have scheduled a three-day parliamentary debate for the recently-approved International Monetary Fund (IMF) loan agreement.
[…]The post Sri Lanka Is Still In Deep Trouble, With Or Without Ranil appeared first on Colombo Telegraph.
Bangladesh has extended the repayment period of Sri Lanka’s $200 million loan it had given by six more months.The post Sri Lanka given more time to repay Bangladesh’s $200 Million loan appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Bangladesh has extended the repayment period of the loan it had given to Sri Lanka by six more months as the Island nation continues to struggle to fix its debt crisis, officials say. Earlier, the central bank of Sri Lanka had sought time from Bangladesh to make the first instalment of the $200 million credit […]
[…]The post Taxes, Swiss Bank Accounts & The Chinese Cafe appeared first on Colombo Telegraph.
Sri Lanka makes significant progress in restructuring its debt and solving the economic crisis at the 2023 spring meetings of the World Bank Group and the International Monetary Fund in Washington DC.The post Sri Lanka makes significant progress at the World Bank – IMF spring meetings
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.
Japan, India and France on Thursday announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka’s debt, a move they hope would serve as a model for solving the debt woes of middle-income economies.The post Japan, India and France launch creditors meeting on Sri Lanka debt appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA New...
Japan, India and France announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka’s debt, a move they hope would serve as a model for solving the debt woes of middle-income economies. It remains uncertain, however, whether Sri Lanka’s biggest bilateral creditor – China – will join the initiative launched […]
Director of the Asia and Pacific Department of the International Monetary Fund (IMF), Krishna Srinivasan has stated that the debt relief Sri Lanka currently awaits is expected to contribute USD 17 billion to close the Balance of Payments (BOP) financing gap from 2023 Â 2027.
Japan, France and India will announce a new platform for creditors to coordinate restructuring of Sri Lanka's debt, Japanese Finance Minister Shunichi Suzuki said on Wednesday, adding it would be "very nice" if China were to join the effort.The post Japan, France and India to launch platform to coordinate Sri Lanka debt appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA...
Sri Lanka participated in a global sovereign debt roundtable meeting where debt sustainability and debt restructuring challenges and ways to address them were discussed. The Global Sovereign Debt Roundtable (GSDR) was held in Washington with the participation of International Monetary Fund Managing
Sri Lanka expects China to support its effort to restructure debts and help it begin repaying its obligations, according to the nation’s central bank governor.The post China will support Sri Lanka’s debt rework, says CBSL governor appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Japan, India and France are scheduled to hold a press briefing on Thursday (13 April) to announce the launch of the debt restructuring negotiation process on Sri Lanka.The post Japan, India and France to announce Sri Lanka’s debt restructuring negotiation process appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Asian Development Bank is considering more concessionary funding for Sri Lanka and support for green bond issues as part of its assistance to help the South Asian nation recover from its worst economic crisis in decades.The post Asian Development Bank eyeing cheaper funds for Sri Lanka, green bond support appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.