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The International Finance Corporation (IFC), the World Bank’s investment arm, said it will provide Sri Lanka with a $400 million cross-currency swap facility to help fund essential imports.The post World Bank’s IFC to provide Sri Lanka with $400 million financing appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- World Bank s IFC to provide Sri Lanka with $400 million financing (Category: Breaking News)
- IFC to provide $400 million to banks in Sri Lanka (Category: Breaking News)
- Sri Lanka’s workers’ remittances exceed USD 400 Million in January 2024 (Category: Breaking News)
- IPO To Raise Rs. 400 mn (Category: Breaking News)
A decision has not been taken to suspend the fuel pass QR code system from April, Power and Energy Minister Kanchana Wijesekera said today. There were reports that the fuel pass QR code system will be suspended from 10th April. However, Wijesekera said the system will continue. He said that data will be analysed and […]
- Special category to increase fuel quota to be tested (Category: Breaking News)
- New registrations for fuel pass temporarily suspended (Category: Breaking News)
- Last digit number system for fuel to be scrapped (Category: Breaking News)
- Sri Lanka to discontinue QR code based National Fuel Pass from today (September 01) (Category: Breaking News)
Sri Lanka is tangled in the worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange that forced the country to annouce a suspension of foreign debt repayments in April 2022.The post Sri Lanka to make $2.6 billion in loan repayments in first half
- China confirms two-year debt moratorium offer for Sri Lanka (Category: Breaking News)
- Sri Lanka’s revenue shortfall concerns IMF team – sources (Category: Breaking News)
- SriLankan Airlines says paid interest on US$ 175 million bond after sovereign debt default (Category: Breaking News)
- Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data (Category: Breaking News)
The International Monetary Fund is considering approving Sri Lanka’s bailout even without the formal assurance of debt-restructuring support from China, the nation’s biggest bilateral creditor, according to people familiar with the discussions.The post IMF said to discuss Sri Lanka loan approval even as China stalls appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA New...
- IMF Executive Board considers Sri Lanka’s loan facility for approval today (March 20) (Category: Breaking News)
- IMF insists on creditor assurances to unlock $2.9 Billion Sri Lanka bailout (Category: Breaking News)
- IMF eyes creditor assurances as it prepares Sri Lanka visit (Category: Breaking News)
- IMF board poised to approve $2.9 billion Sri Lanka bailout (Category: Breaking News)
The International Monetary Fund is considering approving Sri Lanka’s bailout even without the formal assurance of debt-restructuring support from China, the nation’s biggest bilateral creditor, according to people familiar with the discussions. Under a rarely used policy on lending into official arrears, the IMF may consider approving Sri Lanka’s loan because China’s assurance is the only prerequi...
- India writes to IMF backing Sri Lanka’s debt restructuring plan (Category: Breaking News)
- US Treasury Secretary speaks to Ranil on IMF deal (Category: Breaking News)
- China’s offer not sufficient for IMF deal (Category: Breaking News)
- IMF begins talks in Sri Lanka in attempt to reach deal (Category: Breaking News)
The economic and financial condition of Sri Lanka is very precarious at the moment. It has been facing the worst economic crisis since its independence in 1948. The Sri Lankan economy is going through a high rate of inflation, a shortage of essential commodities including fuel and medicines
- China holds key to Sri Lanka’s debt restructuring to ease economic crisis (Category: Breaking News)
- Sri Lanka president wants China to dramatically change stance on debt relief (Category: Breaking News)
- Sri Lanka must avoid China’s debt restructuring as Beijing is to seek preferential treatment (Category: Breaking News)
- US Treasury Secy assures support for Sri Lanka’s debt restructure: president’s office (Category: Breaking News)
Sri Lanka’s external reserves surpassed two billion dollars in January, reflecting gradual improvement in the foreign exchange conditions in the domestic market which was made possible due to a slew of tightening measures and also due to the acceleration in the foreign currency inflows, recently.The post January foreign reserves end up above US$ 2 Billion, first time in about a year appeared first...
- Sri Lanka sees forex reserves exceeding $4 billion after fresh funding (Category: Breaking News)
- Sri Lanka Rupee appreciates after almost a year into free float (Category: Breaking News)
- Sri Lanka approves lifting some limits on rupee conversion for outward remittances (Category: Breaking News)
- IMF says Sri Lanka debt deal could help board clear first bailout review (Category: Breaking News)
Sri Lanka’s international bondholders group was prepared to engage with the island nation’s authorities in debt restructuring talks consistent with the parameters of the IMF Programme, their legal adviser, White & Case LLP, said.The post Sri Lanka bondholders ready for debt restructuring talks with authorities appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News...
- IMF expects Sri Lanka to finalize deals with creditors soon (Category: Breaking News)
- Sri Lanka debt restructuring stumbles as government rejects bondholders’ proposal (Category: Breaking News)
- Sri Lanka s bondholders ready for debt restructuring talks with authorities (Category: Breaking News)
- Sri Lanka Close to IMF Agreement, Is Weighing Bondholder Terms, Semasinghe Says (Category: Breaking News)
Sri Lanka's Central Bank Governor Dr. Nandalal Weerasinghe said regardless of the future elections, he wants to see a continuation of the economic reform path the country has embarked on, as it is the only way to come out of the current crisis.The post Sri Lanka’s Central Bank insists on staying on reform path regardless of election outcome appeared first on Sri Lanka News - Latest Breaking ...
- IMF process should continue whoever is in power – Central Bank Governor (Category: Breaking News)
- Sri Lanka will have to go for another DDO strategy if targets of current plan not achieved – CBS... (Category: Breaking News)
- Sri Lanka must implement budget proposals to avoid return to crisis (Category: Breaking News)
- Sri Lanka’s Central Bank Governor explains debt restructuring process (Category: Breaking News)
Sri Lankan Minister of Foreign Affairs Ali Sabry has held talks with ministers and senior officials in Saudi Arabia, as the crisis-hit island nation seeks to boost cooperation with the Kingdom and other Gulf countries.The post Sri Lanka seeks to boost ties with Saudi Arabia and Gulf nations appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka seeks to boost ties with Saudi Arabia and Gulf nations (Category: Breaking News)
- Lanka seeks release of crew (Category: Breaking News)
- Sri Lanka seeks US$ 6 Billion fuel credit line from Saudi Arabia (Category: Breaking News)
- Sri Lanka seeks Asian Development Bank support in digitalization, agriculture (Category: Breaking News)
Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, the country’s central bank chief P. Nandalal Weerasinghe said. “There has been good progress this month with India already pledging financing assurances. We expect assurances from China and Japan soon,” Weerasinghe said […]
- JICA will not fund projects in Sri Lanka until debt restructured (Category: Breaking News)
- India seeks close coordination between Sri Lanka and all creditors (Category: Breaking News)
- S&P lowers Sri Lanka’s sovereign rating to Select Default grade (Category: Breaking News)
- Sri Lanka’s debt repayments to be suspended until 2028 (Category: Breaking News)
[…]The post Raj Somadeva’s Yakhshi: Excellent Exposition Of History To Laymen appeared first on Colombo Telegraph.
- Child’s Guide To Bitcoinisation Of Sri Lanka Economy (Category: Breaking News)
- A Child’s Guide To Currency Board Systems: How Colonial Ceylon Did It? (Category: Breaking News)
- Conspiracy Stories Are All Over; But Why Are They So Popular & Readily Accepted? (Category: Breaking News)
- Conspiracy Stories Are All Over; But Why Are They So Popular & Readily Accepted? (Category: Breaking News)
Sri Lanka expects to get China's backing for its debt restructuring plan within days to help unlock a $2.9 billion loan from the International Monetary Fund, a government official said on Friday, as India pledged further support to its crisis-stricken southern neighbour.The post Sri Lanka expects financing assurances from China for IMF deal within days appeared first on Sri Lanka News - Latest Bre...
- Sri Lanka thanks India for giving assurances to IMF for USD 2.9 Billion bailout package (Category: Breaking News)
- IMF remains hopeful of Sri Lanka securing all financing assurances soon to unlock funding (Category: Breaking News)
- Paris Club to give Sri Lanka financing assurances amid IMF debt talks – sources (Category: Breaking News)
- India commits to help Sri Lanka on debt in prospective IMF program (Category: Breaking News)
Sri Lanka’s official unemployment rate climbed, raising serious concerns for the policymakers, as the economic crisis is taking a severe toll on jobs, with many small and medium-sized businesses are either closing down or pushed to the brink amid elevated input costs, interest rates and decline in demand.The post Jobless rate rises to troubling levels as economic crisis stings employment appeared ...
- Expatriate Workers’ remittances in January stood at USD 437 Million – Manusha (Category: Breaking News)
- Sri Lanka records highest GDP growth of 8.5% in 8 yrs (Category: Breaking News)
- New employment scheme with Saudi Arabia sparks hope among Sri Lankan workers (Category: Breaking News)
- Economy sees record growth (Category: Breaking News)
[…]The post The Need Of An Online Voting System To Sri Lanka appeared first on Colombo Telegraph.
- A Bankrupt Country Craves For Urgent ‘System Changes’ (Category: Breaking News)
- Akin To Fiddling When Rome Is Burning (Category: Breaking News)
- Debate Between Presidential Candidates First: A Point Of View (Category: Breaking News)
- The Franchise – Intentions, Operation & Results (Category: Breaking News)
Why did former President Sirisena vacate the Paget Road residence, having made it part of his ‘deal’ with the UNP? A three-judge bench of the Supreme Court, comprising Justices Priyantha Jayawardena, Gamini Amarasekara, and Kumuduni Wickremasinghe, having examined the arguments put forward by both the petitioner and respondent parties, issued an interim order on March […]
- Sirisena’s castle in the air (Category: Breaking News)
- SC quashes Cabinet decision granting Paget Road residence to Maithripala (Category: Breaking News)
- Proroguing The Parliament – A Political Subterfuge! (Category: Breaking News)
- Sirisena, SLFP enmeshed in Easter Sunday fallout (Category: Breaking News)
Sri Lanka will restart negotiations on trade pacts with India, China and Thailand after a four-hear hiatus, an official said on Thursday, as the crisis-hit country races to seal deals to help it rebuild its economy.The post Sri Lanka to restart trade deal talks with India, China and Thailand – official appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka, India to sign power grid linking pact within two months – envoy (Category: Breaking News)
- Sri Lanka to fast-track trade pact with Thailand amid crisis (Category: Breaking News)
- Sri Lanka to restart trade deal talks with India, China and Thailand - official (Category: Breaking News)
- India expected to send ‘positive’ message on debt during Jaishankar’s visit to Sri Lanka (Category: Breaking News)
Significant progress has been made at present in relation to the interaction with Sri Lanka’s creditors, the Central Bank of Sri Lanka said today. The bank said that it expects a crucial deal with the International Monetary Fund (IMF) to materialize in early 2023. Announcing its monetary and fiscal policies for 2023, the Central Bank […]
- Sri Lanka seeks assistance from the World Bank (Category: Breaking News)
- UN assures assistance to Sri Lanka to address economic challenges (Category: Breaking News)
- France in talks with creditors on Sri Lanka issue (Category: Breaking News)
- New Foreign Minister promises to deliver (Category: Breaking News)
[…]The post Amnesty, Purpose, Effect & Fairness appeared first on Colombo Telegraph.
- Just Rewards For Hard Work (Category: Breaking News)
- On Overlooking The Obvious (Category: Breaking News)
- Polipto (Category: Breaking News)
- Polipto (Category: Breaking News)
Four in every 10 households in Sri Lanka experienced a reduction in their incomes from June to December 2022, and one in every two households are currently relying on negative coping mechanisms to cope with the lack of food or money to buy it, a Food and Agriculture Organisation (FOA) report said. In its response […]
- Food insecurity improves in Sri Lanka but prevails within specific regions- report (Category: Breaking News)
- Food Oppression (Category: Business)
- Food Taxes (Category: Business)
- Food insecurity improved in Sri Lanka but prevails within specific regions  FAO and WFP (Category: Breaking News)
Only those who could survive this crisis are the ones who could make earnings in foreign currency, Sri Lanka’s Central Bank Governor Dr. Nandalal Weerasinghe recently said.The post Businesses with dollar income sources will only survive this crisis – Central Bank Governor appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- USD 500 million entered the market in seven days – CBSL Governor (Category: Breaking News)
- Sri Lanka faces shutdown without stable Government – Central Bank Governor warns (Category: Breaking News)
- Curtailing inflation critical to avert Zimbabwe-like scenario – CBSL Governor (Category: Breaking News)
- Sri Lanka central bank to consider a single policy rate mechanism (Category: Breaking News)
[…]The post The Retold South Korea Success Story: How Should Sri Lanka Emulate It? appeared first on Colombo Telegraph.
- Colombo University Business Economic Summit 2024: Keynote Address (Category: Breaking News)
- A Child’s Guide To Prema-Chandra Athukorala Chinthana On Import Substitution (Category: Breaking News)
- Good Governance & Economic Development – Part III (Category: Breaking News)
- Target 2048 – Complex Economy System (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)
BY Dr. C. S. Weeraratna csweera@sltnet.lk According to United Nations’ Committee on World Food Security, “Food security is achieved when all people, at all times, have physical and economic access to sufficient, safe and nutritious food to meet their dietary needs and food preferences for an active and healthy life. The Food and Agriculture Organization […]
- Growing challenge of food insecurity and malnutrition in Sri Lanka amidst macroeconomic crisis (Category: Breaking News)
- Plantation sector and economy (Category: Breaking News)
- Deteriorating rural economy, and food security (Category: Breaking News)
- Reducing Trade Deficit (Category: Breaking News)
The dramatic fuel shortages that accompanied mass protests in Sri Lanka earlier this year may have eased, but for millions of Sri Lankans the economic crisis is worse than ever, said a report by the Amnesty International. It said: This month, the United Nations renewed a humanitarian appeal, stating that 28 percent of the population faces […]
- India s Adani Group to run three Sri Lankan airports? (Category: Breaking News)
- International rights groups slam Sri Lanka s flawed plans for a Truth Commission (Category: Breaking News)
- Ankara donates consignment of urgently needed medical supplies to Sri Lanka (Category: Breaking News)
- Rights group: Sri Lankan Tamil women exposed to sexual violence, trafficking after war (Category: Breaking News)
[…]The post Lanka’s Vanishing Fish: Corporate Capture & Import Dependency Deepen The Debt Trap appeared first on Colombo Telegraph.
- The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid A... (Category: Breaking News)
- Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-So... (Category: Breaking News)
- A French Spring Amid IMF Mission Creep: Ranil Tangoes In Paris As Macron Pivots To BRICS (Category: Breaking News)
- ‘Make The Economy Scream’: Whither The Asian 21st Century? (Category: Breaking News)
International human rights organisation, Human Rights Watch (HRW) urged Sri Lanka’s major foreign creditors, including China, Japan, and India to help restructure debts and urgently mitigate the adverse human rights impacts of the country’s worst-ever economic crisis.The post Human Rights Watch urges major creditors to help restructure Sri Lanka’s debts appeared first on Sri Lanka News - Lat...
- HRW urges major creditors to help restructure Sri Lanka s debts (Category: Breaking News)
- AI: Lanka at brink of humanitarian crisis (Category: Breaking News)
- Some Sri Lanka creditors seeking debt restructuring deal without China (Category: Breaking News)
- Japan to organize Sri Lanka creditors’ meeting by year-end – report (Category: Breaking News)
Sri Lanka's central bank on Thursday threatened administrative intervention to control high market interest rates that it regarded as out of line with the inflation outlook.The post Central Bank of Sri Lanka threatens administrative measures over high market interest rates appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka resumes rate cuts to boost growth as inflation cools (Category: Breaking News)
- Sri Lanka Central Bank further reduces policy rates (Category: Breaking News)
- Central Bank of Sri Lanka decided to maintain policy interest rates at their current levels (Category: Breaking News)
- Central Bank of Sri Lanka issues order slashing interest rates on lending products (Category: Breaking News)
Sri Lanka’s gross official reserves were estimated at US dollars 1.7 billion as of end October 2022, including the swap facility from the People’s Bank of China, equivalent to around US dollars 1.4 billion, which has certain conditionalities on usability, the Central Bank of Sri Lanka said today. The Central Bank said that the merchandise […]
- Sri Lankan Rupee depreciates even further against the USD (Category: Breaking News)
- Sri Lanka’s liquid reserves continues to remain significantly low (Category: Breaking News)
- Samarasinghe briefs President Joe Biden (Category: Breaking News)
- Ranil denies meeting Arjuna Mahendran in Singapore (Category: Breaking News)
[…]The post National Council’s Economic Stabilisation Report Is A Welcome Sign appeared first on Colombo Telegraph.
- Domestic Debt Restructuring: Another Time Bomb Clicking Down? (Category: Breaking News)
- The Apologetic Custodian Of The EPF Is Also A Victim (Category: Breaking News)
- Child’s Guide To Debt Restructuring: Not A Cakewalk But A Task Entailing Hard Work (Category: Breaking News)
- Ranil’s Biggest Woe: What To Do When Fiscal & Monetary Policies Have Failed & Are Still Falling? (Category: Breaking News)
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