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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 System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
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.
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.
[…]The post Debterioration Of Nations Social Security & Protection appeared first on Colombo Telegraph.
Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the governor of the country's central bank, Nandalal Weerasinghe, said at a LSEG FX Community Event on Monday.The post Sri Lanka central bank chief: monetary policy transmission still incomplete appeared
At first glance, life in Sri Lanka's financial capital Colombo looks deceptively normal.The post Is the worst over for Sri Lanka’s economic crisis? appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran next month appeared first on ONLANKA - Latest Breaking News updates on Sri Lanka.
By Prabhat Patnaik After Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis. It has asked for a $4.5 billion loan from the IMF, apart from $1 billion from the World Bank and $2.5-3 billion from multilateral agencies and donor nations. Though the […]
A highly appreciative skill of the Pakistani administration is their extensive theatricals which can deceive the most intelligent of men. Lengthy speeches in the parliament are converted into minutes packed with wise counsel. After collecting enough praises and spewing venom on the opposition, they end up ultimately doing what they would do anyway — putting […]
[…]The post The Food Crisis In Sri Lanka: Why We Must Act Now! appeared first on Colombo Telegraph.
By N Sathiya Moorthy How come a ‘poor’ in Asia is also among the ‘miserable’ in the world? But it is possible, as two economic surveys of nations have shown, coming as they do almost simultaneously. A certain Hanke’s Annual Misery Index (HAMI) 2022 has ranked Sri Lanka as the 11th […]
[…]The post Beyond The Myth Of TINA To The IMF: The New Development Bank In The Asian 21st Century appeared first on Colombo Telegraph.
[…]The post Inflation, Interest Rate & Imperialism appeared first on Colombo Telegraph.
tourists in 2023 for crisis-hit economy appeared first on Sri Lanka Breaking News and Top Headlines ...
Sri Lanka President Ranil Wickremesinghe addressed the United National Party (UNP) May Day celebrations held at the Sugathadasa Indoor Stadium in Colombo yesterday (May 01) through video technology.The post Sri Lanka President says Let 2048 be the year of development for Sri Lanka appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
[…]The post Is The Central Bank On Its Way To Technical Insolvency? appeared first on Colombo Telegraph.
Sri Lanka’s sovereign lenders have yet to inform the government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the central bank governor told Reuters in an interview on Tuesday.The post Sri Lanka central bank chief says sovereign lenders yet to outline debt talks plans appeared first on Sr...
Sri Lanka’s sovereign lenders have yet to inform the Government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the Central Bank Governor told Reuters in an interview on Tuesday. The island nation aims to formally engage […]
[…]The post Janatha Aragalaya: The People’s Struggle In Sri Lanka appeared first on Colombo Telegraph.
Sri Lankan President Ranil Wickremesinghe announced that the agreement with the International Monetary Fund (IMF) would be presented to Parliament for a vote on whether to support it and that following this vote, the key points of the agreement would be enacted into law.The post Once the Parliament approves IMF agreement, the main points will be passed into law – Sri Lanka President appeared...
[…]The post The Contribution Of The Monetary Policy For Overcoming The Current Economic Crisis Faced In Sri Lanka appeared first on Colombo Telegraph.
[…]The post Role Of Professionals In Achieving Our Economic Recovery appeared first on Colombo Telegraph.
In a major breakthrough, Sri Lanka has received a financial assurance letter from the Exim Bank of China and the letter of agreement has been sent to the International Monetary Fund (IMF). President Ranil Wickremesinghe told Parliament that he received the financial assurance letter from the Exim Bank of China last night and he and […]
[…]The post President Ranil Wickremesinghe’s Special Statement – Full Text appeared first on Colombo Telegraph.
[…]The post Supreme Court Shows Democratic Route To Government appeared first on Colombo Telegraph.
By Jehan Perera The economy is beginning to give indications of macro stability which President Ranil Wickremesinghe has made his primary objective. The most visible of these is the appreciation of the rupee against the dollar and other international currencies which signals a shift
[…]The post New Central Banking Bill: Positive But Gaps Need To Be Filled appeared first on Colombo Telegraph.