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[…]The post Only A Unified Approach Can Solve The Economic Crisis appeared first on Colombo Telegraph.
Negotiations to secure the second tranche of funding from the International Monetary Fund (IMF) to Sri Lanka are progressing positively, Acting Finance Minister Shehan Semasinghe announced.The post Sri Lanka’s acting finance minister says positive progress in securing second IMF tranche appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9bn bailout package, due to a potential shortfall in government revenue generation, Al Jazeera has reported, quoting the lender. Speaking after a two-week visit to the country, IMF delegation head Peter Breuer on Wednesday said a […]
The International Monetary Fund (IMF) says despite early signs of stabilization, full economic recovery in Sri Lanka is not yet assured. Growth momentum remains subdued, with real GDP in the second quarter contracting by 3.1 percent on a year-on-year basis and high-frequency economic indicators continuing to provide mixed signals. Reserve accumulation has also slowed in […]
Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on Wednesday citing people familiar with the matter. The members want the group of major creditors, including the US, Japan and India, to sign a memorandum […]
The International Monetary Fund (IMF) mission team concluding its visit to Sri Lanka said that despite early signs of stabilization, full economic recovery is not yet assured.The post Despite signs of stabilization, full economic recovery not yet assured – IMF Mission appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
S&P Global Ratings on Monday (Sept. 25) raised its long- and short-term local currency sovereign credit ratings on Sri Lanka to ‘CCC+/C’ from ‘SD/SD’ (selective default).The post S&P raises Sri Lanka local currency ratings to ‘CCC+/C’, says outlook stable appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Over 200 corporate leaders attended the second Economic Forum sponsored by HSBC recently which was to discuss and share insights into the latest global trends and opportunities emerging for economic growth in Sri Lanka. Frederic Neumann, HSBC’s Chief Asia Economist and Co-Head of Global Research for HSBC Asia along with Aayushi Chaudhary, HSBC Economist for […]
[…]The post Target 2048 – Complex Economy System appeared first on Colombo Telegraph.
[…]The post Glocalization Without Financialization appeared first on Colombo Telegraph.
Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage.The post Sri Lanka pays off $200 million loan from Bangladesh with $4.5 million interest appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage. In the last instalment, Sri Lanka paid about $50 million and $4.5 million in interest on the loan on Thursday night, a senior official of Bangladesh […]
[…]The post 117th Birth Anniversary & Long Legacy Of JR Jayewardene appeared first on Colombo Telegraph.
Acting Finance Minister Ranjith Siyambalapitiya during a press conference held today (21) at the Presidential Media Center, focusing on the theme of ‘Collective Path to a Stable Country’ said that over the past year, the government successfully increased the country’s foreign reserves from 1.8 billion dollars to 3.8 billion dollars. He added that in August […]
Recognises Bank for highest number of transactions in country’s trade and supply chain finance domain between 1 July 2022 and 30 June 2023 The Commercial Bank of Ceylon has once again been declared the Asian Development Bank’s (ADB’s) ‘Leading Partner Bank’ in Sri Lanka for trade and finance transactions, in a significant reaffirmation of the […]
[…]The post Sri Lanka’s Online Safety Bill: A Regressive Overreach Stifling Investment & Freedom Of Speech appeared first on Colombo Telegraph.
[…]The post IMF & Global Debt Crises appeared first on Colombo Telegraph.
“Our focus is on achieving 70% renewable energy by 2023. This includes 25% from solar panels, 15% from wind power, and 10% from natural gas. However, transitioning the energy mix is a gradual process, requiring meticulous planning and execution. We aim to reach 60% renewable energy by 2026 and eliminate fossil fuel-based electricity generation by […]
[…]The post The Apologetic Custodian Of The EPF Is Also A Victim appeared first on Colombo Telegraph.
The country’s economy has contracted at the rate of 3.1% in the second quarter of 2023, according to recent data by the Census and Statistics Department. The Department in its estimated Gross Domestic Product (GDP) for the second quarter of 2023, on Friday said that this economic downturn marked
Monday 18th September, 2023 Some henchmen of the Rajapaksa family, which is responsible for ruining the economy, have taken upon themselves the task of investigating the causes of the country’s bankruptcy! They are all out to absolve their political masters of wrongdoing in a bid to shore
[…]The post Politics Of Easter Investigation In A Wriggling Economy appeared first on Colombo Telegraph.
[…]The post System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
[…]The post Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-Sonic’? appeared first on Colombo Telegraph.
Sri Lanka expects to forge major deals in its debt restructuring this month as the International Monetary Fund conducts the first review of its $3 billion loan program.The post Sri Lanka Expects Major Debt Restructuring Deals as IMF to Review Bailout appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Taxation Without Accountability Is Not Sustainable appeared first on Colombo Telegraph.
by Jehan Perera The increase in the price of petrol and diesel has been accompanied by the removal of the QR Code quota system for the purchase of fuel. The elimination of long lines of vehicles, and people, outside of the fuel stations that existed a year ago is one of the signs of normalisation […]
Sri Lanka's key inflation rate eased to 4% in August from 6.3% a month ago, the statistics department said on Thursday, marking continued stabilisation for the crisis-ridden economy.The post Sri Lanka’s key inflation rate eases to 4% in August appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Shamindra Ferdinando Justice Minister Dr. Wijeyadasa Rajapakse, PC, declared in Parliament that the winners of LPL (Lanka Premier League) 2023 B-Love Kandy had been sponsored by an enterprise that was banned in the country. The statement was made in Parliament on 24th August. The one-time President of the Bar Association found fault with SLC […]
H.J.M Seneviratne, 63, slices through yellowed paddy stems dried out by a drought that has destroyed over 95% of his crop and is threatening crisis-hit Sri Lanka's summer rice harvest.The post Drought dents Sri Lanka’s economic hopes, farmers’ livelihood appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.