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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 […]
[…]The post Can Sri Lanka Drive Itself From Bankruptcy To Prosperity In 2023? appeared first on Colombo Telegraph.
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.
Sri Lanka's economy shrank 11.8% in the July-September quarter from a year ago, the second worst for the country, government data showed on Thursday, as it struggled with deep unrest sparked by its most severe financial crisis in decades.The post Sri Lanka’s economy shrinks 11.8
[…]The post RW’s Political Rating & Fitch’s Credit Rating appeared first on Colombo Telegraph.
The 20th Communist Party Congress of China may put a hold on the Chinese restructuring talks with Sri Lanka to secure the $2.9 billion facility to revive the ailing economy. The deadline was set for December, but it may be extended to January, according to the Central Bank of Sri Lanka. China
[…]The post World Bank Assistance Too Is Subject To Conditions! appeared first on Colombo Telegraph.
[…]The post Budget 2023: A Depth Or Dearth appeared first on Colombo Telegraph.
[…]The post An Unstable & Unusual New World: Survival Strategies For Lanka appeared first on Colombo Telegraph.
Sri Lanka’s inflation is expected to significantly cool in the coming months after peaking near 70% this year, and the nation may gradually relax a currency band as inflows improve, central bank governor Nandalal Weerasinghe said.The post Sri Lanka’s inflation expected to significantly cool in the coming months – CBSL Governor appeared first on Sri Lanka News - Latest Breaking News in ...
[…]The post Who Has Printed The Biggest Quantity Of Money? Lakshman, Cabraal Or Nandalal? appeared first on Colombo Telegraph.
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 […]
[…]The post Lanka’s Vanishing Fish: Corporate Capture & Import Dependency Deepen The Debt Trap appeared first on Colombo Telegraph.
[…]The post What Is To Be Done? – Anura Kumara Dissanayake appeared first on Colombo Telegraph.
Sri Lanka's central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9 billion International Monetary Fund (IMF) bailout to stabilise its crisis-hit economy.The post Sri Lanka to hold rates as inflation slows slightly, focus on IMF bailout appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA Ne...
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, […]
Sri Lanka needs to implement budget proposals and reform measures to start earning crucial foreign exchange to help stabilise its economy and ensure it does not return to crisis, its central bank chief said on Tuesday.The post Sri Lanka must implement budget proposals to avoid return to crisis
by Prof. Aruna Shanthaarchch (Department of Economics and Statistics Sabaragamuwa University of Sri Lanka) Who are the Middle Class? The term, middle class, has been defined in a variety of ways. Historically, it was a social class characterised by intellectuals, who were neither capitalists nor workers. They were the well-educated service providers and small-scale entrepreneurs, […]
Sri Lanka unveils a budget on Monday attempting to put the South Asian government's finances in order, with reforms to advance a $2.9 global billion bailout from the island's worst financial crisis since independence in 1948.The post Sri Lanka budget to seek recovery for crisis-hit economy appeared
to put crisis-hit economy back on track appeared first on Sri Lanka News - Latest Breaking News in Sri Lank...
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...
By Amal Jayasinghe Inflation in crisis-hit Sri Lanka dipped marginally for the first time in 12 months but prices were still an eye-watering 66 percent higher than a year ago, official data showed Monday. The island nation of 22 million people has suffered months of extreme economic hardship with severe shortages of essentials including food, fuel and medicines.The […]
[…]The post Sri Lanka: Strategizing Economic Recovery appeared first on Colombo Telegraph.
Sri Lanka said it held a productive meeting with its bilateral creditors, which include India and China, on Thursday as the country looks to restructure its debt and carve a path out of its worst financial crisis in decades.The post Sri Lanka holds debt restructuring talks with bilateral creditors appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Journey Through The Rotten Bridge For The Reforms Of Government Expenditure appeared first on Colombo Telegraph.
Hundreds of people marched in Sri Lanka's largest city Colombo on Wednesday protesting against higher taxes, inflation and alleged state-led repression as the country struggles to emerge from its worst financial crisis in seven decades.The post Hundreds march in crisis-hit Sri Lanka protesting tax hikes, crackdowns appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News...
Sri Lanka’s worst post-war economic crisis represents a major blow to the country’s progress towards achieving the United Nations’ Sustainable Development Goals (SDGs), efforts that were already hobbled by the COVID pandemic. However, the situation is also providing impetus to the work of academics that are using their knowledge to tackle the immediate fallout from […]
[…]The post Child’s Guide To Ranilnomics: Don’t Ignore The Message Delivered By IPS SOE22 appeared first on Colombo Telegraph.
Sri Lanka's National Consumer Price Index (NCPI) rose to a new high of 73.7% in September from a year earlier, quickening from 70.2% in August, the statistics department said.The post Sri Lanka consumer inflation hits record 73.7% in September appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s 70% inflation is hitting its peak as crippling shortages ease and bailout funds look within reach, yet it’s far from putting the central bank governor at ease.The post Sri Lanka Says Inflation Nears Peak, Easing Pressure on Economy appeared first on Sri Lanka News - Latest Breaking News