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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)
The World Bank warned that 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. 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, […]
- World Bank approves Sri Lanka’s access to concessional financing (Category: Breaking News)
- Bangladesh expects Sri Lanka to repay $200 million by March 2023 (Category: Breaking News)
- World Bank suspends financing to Sri Lanka (Category: Breaking News)
- IMF reiterates prior actions Sri Lanka must take to approve funds (Category: Breaking News)
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 05 October 2022, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 percent and 15.50 percent, respectively.The post Central Bank of Sri Lanka maintains policy interest rates unchanged appeared first on Sri Lanka N...
- Central Bank of Sri Lanka threatens administrative measures over high market interest rates (Category: Breaking News)
- Sri Lanka Central Bank further reduces policy rates (Category: Breaking News)
- Central Bank of Sri Lanka maintains Policy Rates to support Economic Recovery (Category: Breaking News)
- Sri Lanka policy rate unchanged as market rates rise, money printing warnings (Category: Breaking News)
A high probability that inflation will peak around 75-pct and start to fall
- High interest rates have prevented contraction of economy – CBSL Governor (Category: Breaking News)
- Sri Lanka policy rate unchanged as market rates rise, money printing warnings (Category: Breaking News)
- Central Bank of Sri Lanka maintains policy interest rates unchanged (Category: Breaking News)
- Central Bank of Sri Lanka expects economic recovery in 2023 (Category: Breaking News)
The ‘atingi’ eAcademy is a digital learning platform, providing users with the opportunity to develop their knowledge in the tourism and hospitality sector. Introduced by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, the e-learning platform caters to anyone interested in upskilling their knowledge on tourism and hospitality-related topics including line staff, management prof...
- Netherlands Embassy and IWMI to organize joint climate change dialogue (Category: Breaking News)
- Wiley Sri Lanka employees indulge in beach cleanup activity (Category: Breaking News)
- Cinnamon Hotels & Resorts signs MoU with Vocational Training Authority (Category: Breaking News)
- Sri Lanka identifies India as important source market for tourism (Category: Breaking News)
The country has lost several hundred thousand jobs to Covid-19. The impact of the agrochemical ban on agriculture, the mismanagement of the exchange rate, a highly accommodative monetary policy, and the use of foreign exchange reserves for debt repayment thwarted the country’s ability to recover from the initial shock of COVID-19, an ILO study titled, […]
- Sri Lanka will be secured if India is secured - Gopal Baglay (Category: Breaking News)
- India hoping for early solution for Sri Lankan crisis through democratic means (Category: Breaking News)
- IT professionals leaving country (Category: Breaking News)
- U.S. announces additional $5.75 Mn in response to Sri Lanka s economic crisis (Category: Breaking News)
Japan, one of Sri Lanka's main creditors, will back the South Asian nation as it seeks to restructure about $30 billion of its foreign debt and find a way out of a crippling economic crisis, Tokyo's envoy to the country said on Friday.The post Japan to support Sri Lanka’s debt restructuring negotiations appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Japan ready to support debt restructuring – Japanese Ambassador (Category: Breaking News)
- Japan Grants USD 46 Million to Provide Diesel for Sri Lanka’s Hospitals (Category: Breaking News)
- Japan Grants USD 46 Million to Provide Diesel for Sri Lanka’s Hospitals (Category: Breaking News)
- Japanese Ambassador assures Japan’s support for Sri Lanka’s Economic development efforts (Category: Breaking News)
Japan, one of Sri Lanka’s main creditors, will back the South Asian nation as it seeks to restructure about $30 billion of its foreign debt and find a way out of a crippling economic crisis, Tokyo’s envoy to the country said on Friday. Reaching an agreement with creditors is key to Sri Lanka securing a […]
- India writes to IMF backing Sri Lanka’s debt restructuring plan (Category: Breaking News)
- SC allows proceedings against GR, MR to proceed (Category: Breaking News)
- Sri Lanka’s Chinese-built Lotus Tower limits visiter time to 20 minutes (Category: Breaking News)
- Japan says no pact yet with Sri Lanka on debt restructure talks (Category: Breaking News)
The ‘atingi’ eAcademy is a digital learning platform, providing users with the opportunity to develop their knowledge in the tourism and hospitality sector. Introduced by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, the e-learning platform caters to anyone interested in upskilling their knowledge on tourism and hospitality-related topics including line staff, management prof...
- Introducing for the first time in Sri Lanka, the ‘atingi’ eAcademy for tourism and hospitality (Category: Breaking News)
- Sri Lanka tourism finds new ways to cater to visitors from Middle East (Category: Breaking News)
- Brain drain impediment to hospitality industry – Dr.Jayasinghe (Category: Breaking News)
- ‘2023, one of Sri Lanka’s best recovery years; tourism will support country re-building’ (Category: Breaking News)
By Krishantha Prasad Cooray In many ways, the economic collapse of Sri Lanka became a near certainty in the weeks after Gotabaya Rajapaksa was elected President. In hindsight, it is clear to all that his government’s number one priority was consolidating their power and punishing those it saw as its enemies. Their next priority was […]
- CBK points finger at her successors as SLFP leader (Category: Breaking News)
- Of that crab dance (Category: Breaking News)
- Aragalaya: People’s Response To Rajapaksa-Made Crisis (Category: Breaking News)
- From Crisis Prime Minister To Put Down President (Category: Breaking News)
Shares have been on the rise mainly on positive sentiment after the IMF comments.
- Sri Lanka sells Rs80bn in mostly 3-month bills, down 18bp (Category: Breaking News)
- Sri Lanka sell Rs60bn mostly in 3-month bills, yield up (Category: Breaking News)
- Sri Lanka debt office raises 21 pct of required debt via T-bills (Category: Breaking News)
- Sri Lanka Bairaha Farm’s profit soars over 200% on rising chicken price (Category: Breaking News)
Market sees over 600 million rupees of net foreign inflow
- Sri Lanka’s NTB profits down 12-pct in March quarter (Category: Breaking News)
- Sri Lanka’s People’s Leasing net down 37-pct in March (Category: Breaking News)
- Sri Lanka’s Haycarb March net up on forex gains (Category: Breaking News)
- Sri Lanka sells Rs80bn in mostly 3-month bills, down 18bp (Category: Breaking News)
We can make the Mannar Island like entertainment location like Macau island
- 8 hoping to visit Australia arrested at Mannar (Category: Breaking News)
- Words of Wisdom (Category: Business)
- Steve Hanke on currency boards and flawed pegs amid Sri Lanka meltdown (Category: Breaking News)
- India to assist restoration of Thiruketheeswaram Temple (Category: Breaking News)
For the first time in parliamentary history, the Central Bank of Sri Lanka has issued a dire warning to Parliament and political parties therein over the responsibility on their part to ensure financial stability and discipline. Their failure to do so would trigger public protests again, they were told. There hadn’t been such a public […]
- All praise for Lanka’s saviours! (Category: Breaking News)
- Shocking claim in House: Bandula reveals how sugar importers, their henchmen trapped Prez (Category: Breaking News)
- Herath: COPE dissolution must not hinder probe into economic crisis (Category: Breaking News)
- The fall of Pohottuwa govt. (Category: Breaking News)
Imports fall as financial account inflows dry up
- Sri Lanka investment goods, non-foods import fall overtakes oil cost in April 2022 (Category: Breaking News)
- Country's Reserves almost double - Central Bank (Category: Breaking News)
- Sri Lanka imports fall in May as credit slows with rate hike (Category: Breaking News)
- Exports up 7.0 percent (Category: Breaking News)
[…]The post Sri Lanka’s First Firm Steps At Economic Reforms appeared first on Colombo Telegraph.
- Sri Lanka: Strategizing Economic Recovery (Category: Breaking News)
- BRI Dynamics & Politics Of Cabinet Reshuffle (Category: Breaking News)
- Sri Lanka: Surviving The 75th Year Of Independence (Category: Breaking News)
- Charting A New Beginning? (Category: Breaking News)
By Shamindra Ferdinando The Sri Lanka Institute of Directors (SLID) and Transparency International Sri Lanka (TISL) recently declared corruption as the root cause of Sri Lanka’s current political and economic crisis. The declaration was made in a statement titled, “SLID and TISL launch ‘Business Against Corruption’ Initiative” issued to the media after the two organisations […]
- Of Elections, Bond Scams & Money Politics: The Anatomy Of Default @75 (Category: Breaking News)
- Treasury bond scams: SJB drags Lotus Tower into ‘conflict’ as SLPP attacks ‘footnote’ gang (Category: Breaking News)
- Massive Corruption Scams Rock The Land Of The Mahatma (Category: Breaking News)
- Sri Lanka accelerates financial literacy drive amid scams (Category: Breaking News)
Sri Lanka's president is set to slash expenditure when he presents an interim budget on Tuesday to see the crisis-ridden country through the rest of the year, amid discussions with the International Monetary Fund on a bailout package.The post Sri Lanka’s president to cut spending in interim budget appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
- President not informed about appointment of Interim Committee for Sri Lanka Cricket (Category: Breaking News)
- Sri Lanka President says Presidential, Parliamentary Elections will be held in 2024 (Category: Breaking News)
- Interim Budget 2022 passed in Parliament (Category: Breaking News)
- 2023 Budget aimed at long-term, stable economic growth to be presented to Parliament tomorrow (Category: Breaking News)
[…]The post A Generational Shift To Face The Crisis In Sri Lanka appeared first on Colombo Telegraph.
- National Council’s Economic Stabilisation Report Is A Welcome Sign (Category: Breaking News)
- Corruption & Lack Of Common-Sense; Presidential Brutalities (Category: Breaking News)
- Lack of Common Sense Of A Time-Expired President (Category: Breaking News)
- Budget 2023: A Depth Or Dearth (Category: Breaking News)
He said inflation may peak around September below 70 percent before showing a downward trend.
- Sri Lanka’s headline inflation may rise to 70% in coming months – Central Bank of Sri Lanka (Category: Breaking News)
- Sri Lanka inflation bigger threat to business than interest rates: CB Governor (Category: Breaking News)
- Curtailing inflation critical to avert Zimbabwe-like scenario – CBSL Governor (Category: Breaking News)
- CB Governor sees light at the end of the tunnel (Category: Breaking News)
ECONOMYNEXT – Sri Lanka’s central bank said it was holding its policy rates at 15.50 percent, while data showed market interest rates are close to twice the rate and private credit and imports falling. Monetary Policy Review: No. 06 – August 2022The Central Bank of Sri Lanka maintains policy interest rates at their current levelsThe Monetary Board of the Central Bank of Sri Lanka...
- Central Bank of Sri Lanka maintains policy interest rates unchanged (Category: Breaking News)
- Sri Lanka policy rate unchanged as market rates rise, money printing warnings (Category: Breaking News)
- Sri Lanka expects inflation to slow, rates unchanged (Category: Breaking News)
- Central Bank expects economy to contract in second half of 2022 as well (Category: Breaking News)
[…]The post Ripples In The Indian Ocean: Yuan Wang 5 & Easter Sunday 2019 appeared first on Colombo Telegraph.
- Pelosi’s Pivot As Cold War & Colonialism Rebound: Blue-Greenwash In The Indian Ocean (Category: Breaking News)
- The Easter Attacks & A Game Of Thrones: The Master Mind, A Cover Up Investigation & AI (Category: Breaking News)
- Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-So... (Category: Breaking News)
- A Staged Default & Sovereign Bond Debt Trap? IMF’s Spring Meetings Amid Hybrid Cold War (Category: Breaking News)
Electricity prices were last hiked in 2013 however were slashed almost by 25% in 2014
- Sri Lanka free trade zone manufacturers alarmed by electricity tariff hike (Category: Breaking News)
- Electricity tariffs to go up by 75 percent (Category: Breaking News)
- Sri Lanka utility regulator approves 75 percent electricity tariff hike (Category: Breaking News)
- Sri Lanka power tariff hike: ministry offers olive branch to protesting monks (Category: Breaking News)
[…]The post The Aragalaya & Morality appeared first on Colombo Telegraph.
- Why I Don’t Support The Aragalaya (Category: Breaking News)
- Ranil-Gota Twosome: One Gone, The Other Is Acting Up (Category: Breaking News)
- Futility Of Transforming A Nation Built Over A Political Cesspit (Category: Breaking News)
- Saying No To Authoritarian Governance (Category: Breaking News)
President Gotabaya Rajapaksa’s two years in office – a period of unprecedented political turmoil, uncertainty and further deterioration of Parliament – should be thoroughly examined. In fact, the UNP, with the support of the then President Maithripala Sirisena, paved the way for Gotabaya Rajapaksa’s candidature, at the 2019 presidential election, by blocking Mahinda Rajapaksa’s path […...
- Sri Lanka’s foreign policy dilemma (Category: Breaking News)
- Destabilisation project: ACBC inquiry underway (Category: Breaking News)
- Shocking claim in House: Bandula reveals how sugar importers, their henchmen trapped Prez (Category: Breaking News)
- SC ruling on economic crisis: Parliament also responsible, says Foreign Minister (Category: Breaking News)
After the collapse of the Sri Lankan economy, attention has turned to the state of affairs in other South Asian countries such as Pakistan, Bhutan and Bangladesh. All three countries have either curtailed imports or are planning to do so, to salvage their fast-depleting foreign exchange reserves
- Bangladesh secures loans of $4.7 billion from IMF (Category: Breaking News)
- Bangladesh seeks $4.5 billion IMF loan as deficit widens (Category: Breaking News)
- IMF agrees $4.5 billion Bangladesh support programme (Category: Breaking News)
- Emerging Donor (Category: Business)
by Chandre Dharmawardana, chandre.dharma@yahoo.ca. The forex crisis had forced the government to jettison its initial set of economic managers of the Central bank who looked for home-grown solutions and opposed dealing with the International Monetary Fund (IMF). The President re-instated a set of managers whose ideas were more orthodox and aligned with the neo-liberal bankers […]
- IMF chief pleased SL reached staff-level deal for $2.9 billion (Category: Breaking News)
- Harsha hints at Chinese hurdle in debt relief talks (Category: Breaking News)
- Sri Lanka to brief creditors on IMF deal for economic recovery (Category: Breaking News)
- Lanka awaiting assurances from India, China, says Central Bank Governor (Category: Breaking News)
By Anupama Rajput Sri Lankan Lawmakers voted in acting President Ranil Wickremsinghe as the new President on July 20. The six-time Prime Minister was able to garner 134 votes in the 225-member parliament, despite public anger with the ruling elite in the hope that his long experience in government could help pull the country out […]
- Video: HIRU THANIWELA EP 400 (Category: Video)
- Over 400 respond (Category: Breaking News)
- IPO To Raise Rs. 400 mn (Category: Breaking News)
- Video: CoL has increased by 400 percent - Maithri (Category: Video)
The International Monetary Fund hopes to complete rescue talks with Sri Lanka “as quickly as possible,” Managing Director Kristalina Georgieva said on Wednesday, hours before the crisis-hit South Asian nation elected a new president. Speaking with Nikkei Asia in Tokyo, Georgieva said the fund was “very deeply concerned about the well-being of the people in […]
- IMF Chief says Sri Lanka a warning sign to world (Category: Breaking News)
- IMF remains very hopeful on Sri Lanka (Category: Breaking News)
- IMF seeks to expand donor coordination to countries like Sri Lanka (Category: Breaking News)
- IMF wants to resolve debt crisis in Sri Lanka (Category: Breaking News)
The International Monetary Fund hopes to complete rescue talks with Sri Lanka "as quickly as possible," Managing Director Kristalina Georgieva said on Wednesday, hours before the crisis-hit South Asian nation elected a new president.The post IMF hopes to complete Sri Lanka aid talks ‘as quickly as possible’ appeared first on ONLANKA News - Sri Lanka News - Latest News in Sri Lanka - Br...
- IMF hopes to complete Sri Lanka aid talks ‘as quickly as possible’ (Category: Breaking News)
- IMF hopes to complete Sri Lanka aid talks as quickly as possible (Category: Breaking News)
- China tells IMF willing to take constructive part in debt talks (Category: Breaking News)
- IMF hopes to complete Sri Lanka aid talks ‘as quickly as possible’ (Category: Breaking News)
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