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Sri Lankan government had shared the details and the conditions of the 4.2 billion dollar debt deal with China with other creditors, Governor of the Central Bank Dr. Nandalal Weerasinghe told Bloomberg.Governor Weerasinghe expressed optimism about restructuring Sri Lanka’s debt through the official creditors committee, aiming to secure IMF support for a 330 million dollar […]
Sri Lanka’s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors a key sticking point with countries like India paving the way for more loans from the International Monetary Fund.The post Sri Lanka gives China deal details, keeping IMF aid on track appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Saman Indrajith TNA Jaffna District MP M.A. Sumanthiran told Parliament on Wednesday that Rajapaksa brothers had enough money to compensate 22 million people in the country. Participating in the second reading debate on Budget 2023, MP Sumanthiran said that his party welcomed the Supreme Court determination that ex-President Gotabaya Rajapaksa, along with former Finance […]
Budget highlights Following are the highlights of Budget proposals made by President Ranil Wickremesinghe in Parliament yesterday: New economic and political system The President said in order not to fall back into a crisis, the economic and political system of Sri Lanka must be created anew. He said that a new social consensus should be […]
* Tax revenue to be raised by 47.1% in 2024 * Rs 10,000 increase for public sector workers * Pensioners to get Rs 2,500 allowance * Rs. 450 bn reserved for bank recapitalization * Four new universities to be established * 20% of state banks to be given off by Saman Indrajith President Ranil Wickremesinghe, […]
Tuesday 14th November, 2023 President Ranil Wickremesinghe told Parliament yesterday that Budget 2024 was intended to “build the foundation of Sri Lanka’s recovery”. “We cannot continue as a people who depends on others,” he said. What he has chosen to leave unsaid is that the budget primarily seeks to keep the IMF bailout on track […]
* Lankan universities have been running with no more than 60 percent of the cadre of teachers approved for them and now perhaps less. * Upper secondary schools are run with no teachers for mathematics, physics and information technology. * University teachers are emigrating in droves, driven away into uncertain lives in other countries. *In […]
Sri Lanka's government projected a lower-than-anticipated budget deficit for 2024 on Monday on the back of a significant jump in revenues which are crucial to keep its bailout programme from the International Monetary Fund afloat.The post Sri Lanka’s 2024 budget sets ambitious revenue, deficit targets appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka President Ranil Wickremesinghe in his capacity as Minister of Finance commenced presenting the Budget Speech 2024 at 12:00 PM today (November 13).The post Sri Lanka’s Budget Speech 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Budget 24: High Aspirations Amidst Mounting Challenges But Options Are Limited appeared first on Colombo Telegraph.
sector is essential for the economy, businesses and individuals, small […]
The World Bank’s Board of Executive Directors today approved $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector.The post World Bank approves $150 million to strengthen financial sector in Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka President Ranil Wickremesinghe will seek to boost tax revenue and rationalise spending in the government’s second full-year budget on Monday, targeting a return to growth for the crisis-hit economy while keeping an eye on elections.The post Sri Lanka balances polls and crisis recovery
[…]The post SOE 2023: IPS Offers Some Inputs To Proposed Growth Lab appeared first on Colombo Telegraph.
By N Sathiya Moorthy In a television interview last month, Foreign Minister Ali Sabry reportedly said that the Government of President Ranil Wicrkemesinghe has taken ‘substantial steps to move away from a Welfare State’ in the last 18 months. And he said it not as if it was inevitable under the nation’s economic circumstances and […]
Cassandra is sick to her innermost core seeing on TV daily, multiple protests of motley crowds toting banners and marching all across roads and in many instances being tear gassed and water cannoned. She is sure that like her, five sixths of adult citizens in this doomed and gloomed land are sick of these protests. […]
President Ranil Wickremesinghe, on Wednesday night, speaking at the National Industry Awards ceremony, acknowledged the challenging decision to increase the Value Added Tax (VAT) to 18 percent, emphasising the imperative need to maintain economic stability. National Industry Excellence Awards 2023 was held at the Nelum Pokuna Theatre in Colombo. President Wickremesinghe stressed the importance of ...
Sri Lanka's key inflation rate rose to 1.5% in October from 1.3% a month ago, the statistics department said on Tuesday.The post Sri Lanka’s key inflation rate rises to 1.5% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Current State Of Sri Lankan Economy, According To Dhananath Fernando appeared first on Colombo Telegraph.
[…]The post The Interplay Of Climate Change & Water Shortages In Sri Lanka’s Ecosystems appeared first on Colombo Telegraph.
[…]The post Isn’t It Time For Sri Lanka To Expel Israelis? appeared first on Colombo Telegraph.
[…]The post Unelected Team At The BRI Forum: Speaking From Both Sides Of Mouth appeared first on Colombo Telegraph.
Confusion confounded: By Jehan Perera President Wickremesinghe’s appointment of a commission of inquiry to investigate existing election laws and regulations and recommend changes has come without prior discussion or warning. It was a carefully kept secret until brought to the notice of the general public by the president’s appointment of the commission. The commission has […]
[…]The post Regular Elections Are The Foundation Of Democratic Society appeared first on Colombo Telegraph.
[…]The post Climate Change: A Red Flag For Environmental Security In Sri Lanka appeared first on Colombo Telegraph.
[…]The post Target 2048 – Growth Lab Experiment Should Be Converted From A Mere Wish To Ground Level Reality appeared first on Colombo Telegraph.
The Ceylon Chamber of Commerce (CCC) has congratulated the Government of Sri Lanka for reaching a staff-level agreement on the first review of Sri Lanka’s Extended Fund Facility Arrangement (EFF) with the International Monetary Fund (IMF). “This agreement is set to grant Sri Lanka access to the second tranche, approximately US$330 million in financing, pending […]
The staff level agreement on the first review of the International Monetary Fund (IMF) programme will enable multilateral agencies to disburse remaining installments and help fast-track debt restructuring, State Minister of Finance Shehan Semasinghe said. “This was much needed to strengthen economic stability, and after the IMF’s executive board approves [it], Sri Lanka will receive […...
Sri Lanka has decided to continue to actively participate in the Belt and Road Initiative proposed by China. Issuing a joint statement, Sri Lanka reiterated that it will never allow any separatist activity against China on Sri Lanka‘s soil. The joint statement by China and Sri Lanka was issued following a visit to China by President Ranil Wickremesinghe […]
IMF staff and the Sri Lankan authorities have reached a staff-level agreement on economic policies to conclude the first review of the 48-month EFF-supported programme. Sri Lanka will have access to SDR 254 million (about 330 million U.S Dollars) in financing once the review is approved by the IMF Management and IMF Executive Board. Macroeconomic […]