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by Jehan Perera The government’s proposal to set up a truth and reconciliation mechanism to deal with the unresolved human rights issues of the war will get a boost in the aftermath of last week’s unexpected developments that will directly affect three former presidents of Sri Lanka hitherto thought to be untouchable by virtue of […]
- Accountability Issues & Human Rights Cannot Be Glossed Over (Category: Breaking News)
- Post-War Reconciliation Process: Human Rights violation (Category: Breaking News)
- Tamil diaspora call on more countries to sanction GR, MR (Category: Breaking News)
- A first indication of readiness to go on a new path (Category: Breaking News)
By Easwaran Rutnam Private companies who lent at high interest rates are holding up vital debt relief for Sri Lanka, a group consisting of over 180 global economists and development experts said. Debt Justice said that these private companies, who lent to corrupt politicians, must face consequences from their risky lending by cancelling Sri Lanka’s […]
- Some creditors want to restructure Sri Lanka’s debt without China (Category: Breaking News)
- Sri Lanka has miles to go for IMF debt relief and salvaging the payments crisis (Category: Breaking News)
- IMF reiterates prior actions Sri Lanka must take to approve funds (Category: Breaking News)
- China’s delays in restructuring the debt have put Sri Lanka in an awkward position. (Category: Breaking News)
[…]The post Prospects For Global Capitalism: 2023 & After appeared first on Colombo Telegraph.
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
[…]The post Gota Back In The USA & A Chilling Killing: Welcome To 2023 A (Virtual) Realty In A Post-Truth World appeared first on Colombo Telegraph.
- Greenwashing Bond Scams & Financializing Mother Nature: Climate Science Fiction Versus Local Rea... (Category: Breaking News)
- The Easter Attacks & A Game Of Thrones: The Master Mind, A Cover Up Investigation & AI (Category: Breaking News)
- Lanka’s Vanishing Fish: Corporate Capture & Import Dependency Deepen The Debt Trap (Category: Breaking News)
- Debt Restructuring As Rocket Science: The IMF, Green, Blue & Pink-Washing BlackRock? (Category: Breaking News)
[…]The post Where Are We Heading In 2023? appeared first on Colombo Telegraph.
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
- Failed Economy: Bribery & Corruption To Maintain Power (Category: Breaking News)
- Downward Spiralling Economy: Increased Govt Spending & Reduced Revenue (Category: Breaking News)
- The Galle Face Struggle & Its Importance (Category: Breaking News)
When Sri Lanka slid into its worst economic crisis in seven decades leading to deadly riots and alarming shortages of fuel, food and medicines earlier this year, its giant northern neighbour stepped into the breach.The post India makes inroads into Sri Lanka under China’s long shadow appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Infrastructure, energy and debt on agenda as Sri Lanka president arrives in India (Category: Breaking News)
- India says it will protect its interests as Chinese boat heads to Sri Lanka (Category: Breaking News)
- India plans no more funding for Sri Lanka as IMF talks progress (Category: Breaking News)
- India, Sri Lanka agree to boost ties through energy, power and port projects (Category: Breaking News)
By Dr Laksiri Fernando One mistake we normally make in analysing the situation or crisis in Sri Lanka is to do it in isolation. Sri Lanka is unfortunately only a part of a world system. Although this situation is valid to almost all other countries, smaller or weaker a country, larger are the effects of […]
- Heed people’s call for new political model (Category: Breaking News)
- Lanka needs a national liberation movement, not mere regime change:Anura Kumara Dissanayake (Category: Breaking News)
- ‘The fascist threat’ and the South’s mounting travails (Category: Breaking News)
- A first indication of readiness to go on a new path (Category: Breaking News)
India’s rupee trade settlement mechanism, a means of using rupees instead of dollars and other big currencies for international transactions, is attracting interest from more countries.The post Indian Central Bank approves five ‘vostro’ accounts for Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lankan bank opens VOSTRO account in India (Category: Breaking News)
- India approves special ‘vostro’ account for Sri Lanka (Category: Breaking News)
- State Bank of India to begin overseas rupee trade with smaller nations (Category: Breaking News)
- RBI allows international trade settlement in Rupee (Category: Breaking News)
India has approved a special ‘vostro’ account for Sri Lanka, a means of using rupees instead of dollars for international transactions. According to Reuters, Sri Lanka had shown interest in the mechanism and the special vostro accounts have been approved by the Reserve Bank of India (RBI). The Reuters report said that Tajikistan, Cuba, Luxembourg […]
- Indian Central Bank approves five ‘vostro’ accounts for Sri Lanka (Category: Breaking News)
- RBI allows international trade settlement in Rupee (Category: Breaking News)
- Sri Lanka wants to start rupee trade with India (Category: Breaking News)
- India allows Sri Lanka to settle $1 bn credit facility in India rupees (Category: Breaking News)
[…]The post Budget 2023: A Depth Or Dearth appeared first on Colombo Telegraph.
- Domestic Debt Restructuring: Another Time Bomb Clicking Down? (Category: Breaking News)
- Tax! Tax!! Tax!!! (Category: Breaking News)
- Budget 24: High Aspirations Amidst Mounting Challenges But Options Are Limited (Category: Breaking News)
- The Role Of National Defence In A Crisis-Ridden Economy (Category: Breaking News)
FitchRatings has downgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’, and has affirmed the Long-Term Foreign-Currency IDR at ‘RD’ (Restricted Default). Fitch typically does not assign Outlooks to ratings of ‘CCC+’ or below. Fitch has also removed the Long-Term Local-Currency IDR from Under Criteria Observation, on which it was placed […]
- Fitch Upgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘CCC-‘ (Category: Breaking News)
- Fitch downgrades Sri Lanka’s long-term local-currency IDR to ‘CC’ (Category: Breaking News)
- Fitch downgrades Sri Lanka (Category: Breaking News)
- Fitch Ratings warns of risks from political instability in Sri Lanka (Category: Breaking News)
Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’, and has affirmed the Long-Term Foreign-Currency IDR at ‘RD’ (Restricted Default). Fitch typically does not assign Outlooks to ratings of ‘CCC+’ or below. Fitch has also removed the Long-Term Local-Currency IDR from Under Criteria O...
- Fitch Upgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘CCC-‘ (Category: Breaking News)
- Fitch downgrades Sri Lanka (Category: Breaking News)
- Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
- Fitch downgrades Sri Lanka to Restricted Default (RD), sovereign bonds to Default (D) (Category: Breaking News)
By Ramesh Khan At the beginning of the year 2022, none in Sri Lanka would have thought that the end of the pandemic would not signal the end of misery. Instead, it signaled the advent of misery in forms that had been unknown to the Sri Lankans until now. A country filled with tourist spots, […]
- IFC to provide $400 million to banks in Sri Lanka (Category: Breaking News)
- $ 400 m IMF lifeline for struggling Sri Lanka (Category: Business)
- Over 400 respond (Category: Breaking News)
- US$ 400 m India-SL energy transaction in the pipeline (Category: Business)
By MAHADIYA HAMZA ECONOMYNEXT – Sri Lanka’s tourism revival is facing a challenge in bringing in more high spending foreign visitors due to increasing protests locally while monetary tightening, impacts of Russian invasion into Ukraine, and rising inflation globally.The move is likely to slow
- Developing plans and policies without young people is a futile exercise: UNICEF Sri Lanka (Category: Breaking News)
- Urgent measures needed to halt exodus of skilled personnel (Category: Breaking News)
- UNDP, EU assistance to equip tourism industry for sustainable future (Category: Breaking News)
- OPA panel discussion: The Role of Domestic Aviation in Sri Lanka Tourism (Category: Breaking News)
Unbridled industrialization of the developed countries is the root cause of climate change, leaving the poor to suffer the consequences, President Ranil Wickremesinghe said addressing the COP27 Climate Change Conference in Sharm El-Sheikh, Egypt.The post Developing countries worst affected by rising emissions from industrialized world and must be compensated – President appeared first on Sri...
- Sri Lanka has initiated an action plan to ensure a Green Economy by 2050 – President (Category: Breaking News)
- Sri Lanka President address at the UNGA highlighting Sri Lanka’s journey to rebuild trust and gl... (Category: Breaking News)
- Sri Lanka President issues strong statement after COP27 Conference (Category: Breaking News)
- Sri Lanka President launches International Climate Change University at COP28 (Category: Breaking News)
[…]The post Need To Restrain The Power Of Shadow Finance appeared first on Colombo Telegraph.
- End Casino Capitalism: Sri Lanka To Join The Global Minimum Tax Agreement (Category: Breaking News)
- Failed Economy: Bribery & Corruption To Maintain Power (Category: Breaking News)
- The Police & Aragalaya Activists In A Time Of Social Upheaval (Category: Breaking News)
- Debterioration Of Nations Social Security & Protection (Category: Breaking News)
The Asian Infrastructure Investment Bank (AIIB), in its annual financial report, has outlined a fund of USD 100 million for crisis-hit Sri Lanka.The post AIIB outlines USD 100 million fund for Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- AIIB outlines USD 100 million fund for Sri Lanka (Category: Breaking News)
- AIIB considering a grant of USD 100 million to Sri Lanka (Category: Breaking News)
- AIIB considering a grant of USD 100 Million to Sri Lanka (Category: Breaking News)
- AIIB willing to finance USD 220 mn for Sri Lanka s energy development projects (Category: Breaking News)
[…]The post UK’s Bumpy Fall, Change Of Guard & Lessons Beyond! appeared first on Colombo Telegraph.
- UK and EU reach post-Brexit trade agreement after months of negotiations (Category: Breaking News)
- UK and EU reach post-Brexit trade agreement after months of negotiations (Category: Breaking News)
- UK parliament passes Boris Johnson’s Brexit deal (Category: USA, New York)
- UK parliament passes Boris Johnson’s Brexit deal (Category: USA, New York)
The shrinking value of the currencies of most developing economies is driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, according to the World Bank’s latest Commodity Markets Outlook report.The post Currency depreciations risk intensifying global food, energy crisis – World Bank appeared first on Sri Lanka News - Latest Break...
- Sri Lanka a ‘warning sign’ for countries with high debt levels and limited policy space – IMF (Category: Breaking News)
- No inflation respite for Asia despite fall in food, fuel prices (Category: Business)
- Recession risk unless oil prices fall further (Category: Business)
- World Bank’s Malpass, IMF’s Georgieva see rising risks of Global Recession (Category: Breaking News)
[…]The post How Lanka Can Benefit From A Global Recession appeared first on Colombo Telegraph.
- Prospects For Global Capitalism: 2023 & After (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
[…]The post ‘Make The Economy Scream’: Whither The Asian 21st Century? appeared first on Colombo Telegraph.
- Beyond The Myth Of TINA To The IMF: The New Development Bank In The Asian 21st Century (Category: Breaking News)
- The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid A... (Category: Breaking News)
- IMF, Sri Lanka’s Resource Curse & Privatization Of The Central Bank (Category: Breaking News)
- Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-So... (Category: Breaking News)
There are no price controls on bread
- Bakery owners in Sri Lanka lament the loss of business due to increased wheat flour prices (Category: Breaking News)
- Sri Lanka bakery owners shift price control drumbeat from eggs to wheat flour (Category: Breaking News)
- Bread Prices Increased (Category: Breaking News)
- Wheat Flour Prices Push Bakers Out Of Business (Category: Breaking News)
[…]The post Putin’s Last Stand appeared first on Colombo Telegraph.
- Russian Presidential Election Results (Category: Breaking News)
- NATO Expansion: The Untold Agreement & Its Role In The Ukraine War (Category: Breaking News)
- Vladimir Putin, Xi Jinping & Joe Biden (Category: Breaking News)
- Ancient Values Influence Behaviour Centuries Later (Category: Breaking News)
Western countries this week ratcheted up their criticism of China, the world's largest bilateral creditor, as the main obstacle to moving ahead with debt restructuring agreements for the growing number of countries unable to service their debts.The post Global finance leaders single out China as barrier to faster debt relief appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ON...
- Yellen ‘eager’ to work with China on debt, other global challenges (Category: Breaking News)
- Janet Yellen warns United States could run out of cash by June 1 (Category: Breaking News)
- Janet Yellen warns US could run out of cash by June 1 (Category: Breaking News)
- India a trusted trading partner in ‘friendshoring’ strategy: US Treasury Secretary Janet Yellen (Category: Breaking News)
[…]The post IMF Must Become More Than Just A Debt Collector For Private Creditors appeared first on Colombo Telegraph.
- Hedge funds holding up vital debt relief for Sri Lanka (Category: Breaking News)
- Some creditors want to restructure Sri Lanka’s debt without China (Category: Breaking News)
- The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid A... (Category: Breaking News)
- China holds key to Sri Lanka’s debt restructuring to ease economic crisis (Category: Breaking News)
[…]The post How We Came To This Pass: A Quest For Scapegoats appeared first on Colombo Telegraph.
- How We Came To This Pass – The Aragalaya Challenge (Category: Breaking News)
- How We Came To This Pass – On The “Non-Rule Of Law System” (Category: Breaking News)
- Two Challenges: Economic Recovery & Political Devolution – IV (Category: Breaking News)
- How We Came To This Pass – Waiting On IMF (Category: Breaking News)
World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva said there was a growing risk of global recession, with inflation remaining a continuing problem after Russia’s invasion of Ukraine.The post World Bank’s Malpass, IMF’s Georgieva see rising risks of Global Recession appeared first on Sri Lanka News - Latest Breaking News in Sri Lan...
- World Bank and IMF warn of risks of global recession (Category: Breaking News)
- IMF chief Georgieva cites ‘fruitful exchange’ with China on debt issues (Category: Breaking News)
- China agrees to formation of global sovereign debt ’roundtable’ – IMF chief (Category: Breaking News)
- Global economy faces tougher year in 2023, IMF chief warns (Category: Breaking News)
[…]The post Ranil’s Debt Driven Growth Strategy appeared first on Colombo Telegraph.
- Futility Of “Ranilnomics” Without Systemic Change (Category: Breaking News)
- Glocalization Without Financialization (Category: Breaking News)
- Systemic Drain (Category: Breaking News)
- RW’s National Policy & National Council (Category: Breaking News)
Sri Lankans have lost access to most medicine and medical supplies, setting them on course for a humanitarian disaster, Direct Relief reported. Unlike Russia’s invasion of Ukraine and the recent hurricane batterings of Puerto Rico and Florida, Sri Lanka’s crisis grew slowly and has garnered
- Americares donates more than $773,000 USD worth of medical supplies to Sri Lanka (Category: Breaking News)
- US donates medical equipment to Sri Lanka-wide hospitals (Category: Breaking News)
- US based charity sends essential medications to Sri Lanka (Category: Breaking News)
- Sri Lanka seeks bridge financing from Singapore (Category: Breaking News)
Sri Lanka’s economic crisis is deepening with unsustainable debt and a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic and debt restructuring and the implementation of a deep reform program are critical for Sri Lanka’s economic stabilization, says the World Bank in its twice-a-year update, underscoring the need for Sri Lanka to build resilience.The post Debt res...
- Depth of crisis affirms Sri Lanka needs new economic development model: World Bank (Category: Breaking News)
- World Bank approves Sri Lanka’s eligibility to access concessional financing (Category: Breaking News)
- World Bank approves $150 million to strengthen financial sector in Sri Lanka (Category: Breaking News)
- No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank (Category: Breaking News)
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