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President Ranil Wickremesinghe yesterday (19) announced the establishment of a new development bank to provide financial support to industrialists in Sri Lanka. This initiative will offer industrialists the opportunity to obtain loans at low interest rates, the President declared. The President also revealed plans to set up an Economic Commission to oversee these activities. A […]
By Vishvanath It is now clear that the proposed debate between SJB Leader Sajith Premadasa and his JVP/NPP counterpart, Anura Kumara Dissanayake (AKD), is a nonstarter in spite of streams of rhetoric let out by both sides frequently. On Thursday (June 06), the state-owned ITN hosted what it had advertised as a debate between Premadasa and AKD. […]The post Of that ‘one-man debate’ a...
by Vishvanath Chief Government Whip and Minister Prasanna Ranagunga has been quoted by the media as saying, after an SLPP event in Minuwangoda over the weekend, that his party would not field a presidential candidate, and it will back someone in the fray instead. He has reportedly stopped short of naming the candidate concerned or the party […]The post Trumps up Ranil’s sleeve appe...
The Colombo District Court has refused to issue an interim order preventing the Sri Lanka Freedom Party (SLFP) Executive CommitteeContinue ReadingThe post SLFP Crisis : New appointment by Executive Committee appeared first on Newswire.
A new political movement called the ‘Peoples Struggle Alliance’ has been launched in anticipation of the next election in SriContinue ReadingThe post ‘Aragalaya’ activists launch new political alliance appeared first on Newswire.
…interest payments alone increased by USD 2.8 bn; foreign debt USD 100 bn By Shamindra Ferdinando Declaring that the economy had further deteriorated under President Ranil Wickremesinghe’s watch since July 2022, dissident SLPP parliamentarian Prof. G. L. Peiris said that the government was working overtime to depict a much improved situation. Addressing the media at […]
The UN High Commissioner for Human Rights Volker Türk raised concerns over the impact of austerity measures in Sri Lanka. He said that while Sri Lanka’s macro-economic situation has improved, the impacts of the economic crisis together with associated austerity measures are affecting the poorest
Sri Lanka's Ministry of Finance, Economic Stabilization and National Policies issued a press release on June 16, 2024, to address speculations regarding a proposed property tax mentioned in the International Monetary Fund (IMF) Extended Fund Facility (EFF) program documents.The post Sri Lanka’s Finance Ministry clarifies Imputed Rental Income Tax appeared first on Sri Lanka News | Breaking N...
[…]The post Opportunities For System Change Open Up appeared first on Colombo Telegraph.
President Ranil Wickremesinghe emphasized that the future of Sri Lanka will be determined by the economic policies implemented over the next five years. The President delivered this statement while addressing the youth and business community in Mannar during his participation in the “Youth Conference” held Sunday (16). The President initially attended the Mannar District “Youth [...
President Ranil Wickremesinghe emphasized that the future of Sri Lanka will be determined by the economic policies implemented over the next five years. The President delivered this statement while addressing the youth and business community in Mannar during his participation in the “Youth Conference” held on Sunday (16). The President initially attended the Mannar District […]
Housing rights will be given to 250,000 low-income families in Colombo, President Ranil Wickremesinghe said. He said the program aims to ensure that every citizen owns land, a house, or a vehicle. President Wickremesinghe made these remarks at an event held at the Embilipitiya Mahaweli Stadium. The event was held to award freehold land deeds […]
Sri Lanka’s Ministry of Finance, Economic Stabilization and National Policies says the proposed homeowners tax will target high wealth individuals and not average income earners. The Ministry of Finance says the objective will be achieved by a suitable tax-free threshold to ensure that the tax is targeted on very high value property or multiple properties […]
Sri Lanka s economy showed significant growth more than anticipated in the first quarter, marking a strong recovery from a severe foreign exchange crisis.
[…]The post Road To Bankruptcy: The Role Of Foreign Currency Flows & Economic Vulnerabilities In Sri Lanka appeared first on Colombo Telegraph.
President Ranil Wickremesinghe yesterday said that a pre-feasibility study for a land connection between Sri Lanka and India has been completed, and a full feasibility study will be conducted in the near future, the President’s Media Division said. The President stated so when he met with Most Rev. Dr. Fidelis Lionel Emmanuel Fernando, the Bishop […]
The Ministry of Finance yesterday said that the focus of envisaged Rental Income Tax was on high-wealth individuals, and not on average income earners. In a statement titled ‘Clarification on Imputed Rental Income Tax’ the Ministry said: The recent publication of the International Monetary Fund (IMF) supported Extended Fund Facility (EFF) programme related documents make […]
Monday 17th June, 2024 The SLPP-UNP government is crowing about the release of the third tranche of the IMF loan, and has undertaken to fulfil some more bailout conditions such as the introduction of an imputed rental income tax. It has said the new tax will affect only the high-net-worth individuals, but the proof of […]
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 […]
reform efforts aimed at rescuing the country from its financial crisis. During their meeting, [̷...
[…]The post RW’s Economic Transformation Bill & NPP’s Systemic Transformation appeared first on Colombo Telegraph.
by Amal JAYASINGHE (AFP) When Sri Lanka’s economy crashed in 2022, people sought work abroad wherever they could find it — including ex-soldiers who joined forces fighting in Ukraine after Russia’s invasion. Now the veterans — some of whom swapped their life savings for what they thought would be lucrative, non-combat jobs — are desperate […]
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 […]
By Easwaran Rutnam Gitanjali Chakravarthy, General Manager, Hilton Yala Resort, Sri Lanka says there is a slow but sure shift towards gender diversity, inclusivity and equity. In an interview with Colombo Gazette, Chakravarthy says the evolving societal perceptions around gender roles, coupled with an increased emphasis on gender equality, have also contributed to a more […]
Lurking danger from trained soldiers in want by Saman Indrajith United Republican Front leader, Patali Champika Ranawaka, MP, says that Sri Lanka faces the danger of becoming a ‘narco-state’ if immediate action is not taken to stop the growth of what he describes as the ‘political underworld.’ “There is a political underworld operating in this […]
Sri Lankan authorities have formulated an initial roadmap to ease restrictions on motor vehicle imports by 2025. According to the IMF, this plan will commence with the imports of public passenger and special purpose vehicles in the third quarter of 2024, followed by goods transport vehicles in the fourth quarter of the same year. By […]
The International Monetary Fund (IMF) says that there has been sufficient progress for Sri Lanka’s Debt Restructuring process to move forward. Joining the IMF press briefing on Sri Lanka’s second review of EFF programme held virtually yesterday morning (14), IMF Senior Mission Chief for Sri Lanka Peter Breuer stated that the IMF fully respect the democratic […]
Groundbreaking solar-powered battery swapping stations recognized for their impact on sustainable urban mobility and economic development in Sri Lanka The U.S. Embassy announced on Friday that Sri Lanka’s USAID-funded Sri Lanka Energy Project (SLEP) has received top honours at the 2024 annual conference for the Society for International Development, the premier U.S. event for international [̷...
The International Monetary Fund (IMF) states that sufficient progress has been made for Sri Lanka's debt restructuring process to move forward.The post IMF reports progress in Sri Lanka’s debt restructuring amid economic vulnerabilities appeared first on Sri Lanka News | Breaking News & Top Stories in Sri Lanka | ONLANKA.
[…]The post Critique On IMF’s Second Review Under Extended Fund Facility appeared first on Colombo Telegraph.