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No one should forget past hardships due to shortages of medicines, fuel, and fertilizers.- Says the President at the annualContinue ReadingThe post “No one should forget past hardships due to shortages of medicines, fuel & fertilizers” appeared first on Newswire.
By N Sathiya Moorthy First, Team Ranil had claimed that the incumbent would be a ‘national candidate’ in the presidential polls due by mid-October. Since then, President Ranil Wickremesinghe himself has declared that the polls will decide the country’s success or failure. According to him, if the people are satisfied with his government’s policies and programmes […]
Washington (District of Columbia, United States) The International Monetary Fund released $336 million as part of a bailout loan instalment for Sri Lanka despite delays in the crucial restructuring of its foreign debt, including to China, the Washington-based lender said Wednesday. The South Asian nation was starting to recover, but the economy was “still vulnerable and the path […]
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Debt owed by various countries, especially in South Asia and Africa, to China has multiplied in recent years.The post Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data appeared first on Sri Lanka News | Breaking News & Top Stories in Sri Lanka | ONLANKA.
By Easwaran Rutnam President Ranil Wickremesinghe blamed Opposition Leader Sajith Premadasa for the crisis in the country saying things could have been different if he accepted the Prime Minister post in April 2022. The President expressed these views after delivering a statement in Parliament, Thursday. Wickremesinghe said that in 2022 he willingly embraced the task […]
Sri Lanka’s tentative recovery from its worst economic crisis could be stalled by presidential elections due later this year, the island nation’s central bank chief warned on Tuesday. Months-long shortages of food, fuel and medicines culminated in Sri Lanka defaulting on its foreign debt in 2022
The International Monetary Fund (IMF) stands ready to support Sri Lanka’s discussions with international bondholders and will provide a formal assessment after the parties reach a tentative agreement-in-principle, an IMF spokesperson said on Thursday. “We hope an agreement consistent with the parameters of the IMF-supported program and official creditors’ Comparability of Treatme...
According to Reuters, the International Monetary Fund (IMF) has expressed readiness to facilitate Sri Lanka's ongoing negotiations with international bondholders.The post IMF ready to support Sri Lanka’s discussions with bondholders appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Reuters reports that Sri Lanka has turned down a restructuring plan proposed by international bondholders to address its $12 billion debt, thereby endangering crucial International Monetary Fund (IMF) aid and further delaying the resolution of its ongoing two-year debt crisis.The post Sri Lanka debt restructuring stumbles as government rejects bondholders’ proposal appeared first on ONLANKA ...
Sri Lanka has failed to strike an agreement on restructuring about US$12 billion of debt with its bondholders, the Government said on Tuesday (Apr 16). “The steering committee did not agree to extension of restricted discussions,” it said in a regulatory filing. Following talks with bondholders on the sidelines of the International Monetary Fund and […]
By N Sathiya Moorthy It is inevitable that in the heat of an electoral battle, neighbours get mentioned, if not hurt. It is election time in India, to be followed by one or two in Sri Lanka – for the presidency and Parliament, though which would come first is known only to Mr God and President […]
China has said it would continue to support Sri Lanka, as the crisis-hit island nation’s prime minister on Saturday wrapped up a visit to Beijing to try to finalise a debt restructuring deal.The post China reaffirms financial support for Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
At least five Sri Lankans have reportedly been killed so far while fighting in the Ukraine-Russia war, according to Al Jazeera. In the latest incident, Nipuna Silva, a Sri Lankan soldier who quit his army position to fight for Russia in Ukraine due to better pay, is believed to have been killed on the front line.The post Sri Lankan soldier Nipuna Silva among latest victims in Ukraine-Russia confli...
Sri Lankan Prime Minister Dinesh Gunawardena will visit China, his country’s biggest bilateral lender, next week, Beijing’s Foreign Ministry said Friday, according to AFP. “At the invitation of Premier Li Qiang of the State Council, Prime Minister of Sri Lanka Dinesh Gunawardena will pay an official visit to China from March 25 to 30,” Foreign […]
After constructive discussions in Colombo, IMF Senior Mission Chief Peter Breuer and Deputy Mission Chief Ms. Katsiaryna Svirydzenka issued the following statement: “The IMF team reached staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement and concluded the 2024 […]
Following productive discussions, the International Monetary Fund (IMF) and Sri Lankan authorities have achieved a staff-level agreement on economic policies, marking a significant step in concluding the second review of the 4-year Extended Fund Facility (EFF)-supported program and the 2024 Article IV Consultation. This was stated by Mr. Peter Breuer, IMF Senior Mission Chief during […]
The International Monetary Fund (IMF) reached a staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement. The EFF arrangement was approved by the IMF Executive Board for a total amount of SDR 2.3 billion (about US$3 billion) on March […]
The International Monetary Fund (IMF) team has reached a staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement and concluded the 2024 Article IV Consultation discussions.The post IMF reaches staff-level agreement with Sri Lanka on second review appeared first on ONLANKA - Sri Lanka...
Peter Breuer, Chief of IMF Mission to Sri Lanka has claimed that the Sri Lankan economy is showing signs of progress. The monetary and fiscal measures like tax increases and particularly the debt moratorium may have resulted in giving some breathing space for the country to recover from the period of extreme hardship caused by […]
Sri Lanka's President, Ranil Wickremesinghe, asserted that the nation’s economy is experiencing robust growth due to the government’s initiatives.The post Sri Lanka’s President says Government initiatives drive robust economic growth appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has sought temporary relief from debt defaults from 2023 till 2027, President Ranil Wickremesinghe told Parliament, Wednesday. He said that Sri Lanka plans to diligently work towards repaying the loans in the period from 2027 to 2042. “Sri Lanka faces a significant burden of debt. By 2022, the country was slated to repay […]
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President Ranil Wickremesinghe said in Parliamenty yesterday he was aware that Value Added Tax (VAT) was a burden on the public. He said it would be possible to reduce VAT with the passage of time. Delivering the government policy statement at the commencement of the new session of Parliament, the President said: “The prior scarcity […]
Urges unity over deep political divisions for effective crisis management Says ‘intricate’ foreign debt restructuring will take up to six months Invites Opposition to confer with institutions that foster international financial stability by Sanath Nanayakkare As government revenue increases, measures will be taken to increase benefits for the people accordingly, President Ranil Wickremesinghe said...
Inaugurating the 5th session of the 9th Parliament of Sri Lanka President Ranil Wickremesinghe called upon all lawmakers to collaborate in nation building even though they would be contesting elections separately. “From ancient times to the present day, our world has encountered a myriad of crises, spanning nations and personal lives alike. While some crises […]