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[…]The post President Ranil Wickremesinghe’s Special Statement – Full Text appeared first on Colombo Telegraph.
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.
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 of year appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA 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
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
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, and a depleted foreign exchange reserve insufficient […]
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...
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 ...
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 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 […]
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
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.
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
Global lenders including the World Bank, the Asian Development Bank and the IMF are planning coordinated assistance to help Sri Lanka recover from its economic crisis, the government said on Tuesday.The post Global lenders eye coordinated assistance for Sri Lanka – Government appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA 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 […]
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...
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
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 will remain a middle-income country but request the World Bank to grant it some loans generally offered to poorer nations, the president's office said on Tuesday, clarifying a cabinet spokesperson's earlier comments on the matter.The post Sri Lanka to keep ‘middle-income’ status but seek concessional loans appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka -...
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 few international headlines. But Sri Lankans are suffering amid the […]
Sri Lanka's central bank is likely to maintain interest rates on Thursday in an effort to get a grip on inflation which has remained stubbornly high despite a sharp contraction in the crisis-hit economy.The post Sri Lanka Central Bank to hold rates as inflation worries persist appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
Sri Lanka is struggling to secure dollar earnings and that has threatened its fuel, gas imports.
Consumer inflation in Sri Lanka accelerated to 70.2% in August,the statistics department said on Wednesday, as the island nation reels under its worst economic crisis in decades.The post Sri Lanka inflation rate surges to 70.2% in August appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Wickremesinghe also met King Charles III on Sunday September 18.
A food crisis in Sri Lanka looms as the island nation faces its worst economic disaster in decades. With food price inflation higher than 90%, even staples like rice have become almost unaffordable for many Sri Lankans. The World Food Programme (WFP) estimates that about 30% of the population is food insecure and that one out of […]
Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.The post Sri Lanka’s economy shrinks 8.4% amid fertiliser, fuel shortages appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ...
Basically there is a limit to what can be shared with the public or parliament
The Health Ministry spends nearly 40% of the Ministry’s expenditure on medicines to purchase medicines for cancer patients, it was revealed at a meeting with the President.The post Health sector needs an urgent policy change – President appeared first on ONLANKA News :. Sri Lanka Latest Breaking News Updates - Sri Lanka News.
; The International Monetary Fund (IMF) on Thursday announced that it will provide […]