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By Kalinga Tudor Silva One of the important ways, the current economic crisis in Sri Lanka has directly impacted our lives is having to go through long and seeming unending queues, to access petrol, diesel, kerosene and even our dear passports. Queues have multiplied, sprung up on either side of the road and across the […]
AL Jazeera) Some Asian central banks must rapidly raise interest rates to prevent an “upward spiral” in inflation as the war in Ukraine drives surging fuel and food prices, an International Monetary Fund (IMF) official has said. While inflation in Asia remains “moderate” compared with other regions, several economies will have to act quickly to […]
Developments in Sri Lanka underline the risk of destabilising social and labour unrest throughout Asia-Pacific because of rising living costs impacting the region, S&P Global Market Intelligence said. Countries with similarly weak economic fundamentals and/ or poor economic policies have reduced resilience to external shocks, such as the COVID-19 pandemic, the Russia-Ukraine conflict, high oil...
The head of the U.S. government aid agency called on China on Wednesday to help Sri Lanka and other nations that had borrowed heavily from Beijing with debt restructuring, not just with lines of credit and emergency loans.The post USAID chief calls on China to restructure Sri Lanka’s debt appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
Hambantota in southern Sri Lanka housed ousted President Gotabaya Rajapaksa following the recent crisis, until he was forced to flee the country entirely. That continues a trend of the city, and especially its strategic deep-sea port, being in the news for all the wrong reasons. In 2017, when Sri Lanka found itself struggling to make […]
The Asian Development Bank (ADB) says Sri Lanka’s growth is forecast to contract by 7.6% in 2022 and economic activity will remain subdued in 2023.In its latest Asian Development Outlook Supplement, the ADB said the island nation is beset with multifaceted and deepening challenges emanating from long-standing fiscal and current account deficits that have led to […]
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 […]
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...
Sri Lanka’s Acting President Ranil Wickremesinghe says that the issues which prevail in Sri Lanka with regard to hunger, are man made.The post The food crisis in Sri Lanka is man made, Acting President Ranil tells Global Forum appeared first on ONLANKA News - Sri Lanka News - Latest News Sri Lanka - Breaking News from Sri Lanka.
UN Secretary General António Guterres today called for dialogue to “ensure a smooth transition of Government and solutions to the country’s deep economic crisis. President Gotabaya Rajapaksa has yet to comment publicly on the occupation of his residence, along with that of Prime Minister Ranil Wickremesinghe, but the Prime Minister’s office reportedly said it had […]
(Vatican News) Pope Francis on Sunday implored the authorities of Sri Lanka to listen to the cries of their people, suffering under the country’s worst economic crisis in 70 years. “I join in the grief of the people of Sri Lanka, who continue to suffer the effects of political and economic instability,” the pope said […]
ECONOMYNEXT –Sri Lanka should stop money printing earlier than indicated in a statement by Prime Minister Ranil Wickremesinghe, opposition legislator Harsha de Silva said, though legislators have already given extensive powers to the agency engage in liquidity injections. “Prime Minister Ranil Wickremesinghe talked about money printing,” de Silva told parliament. “He said, the in...
[…]The post Is Catastrophic Collapse Imminent? appeared first on Colombo Telegraph.
[…]The post Bailing Out The ‘Gota’ Led Regime; A Wasted Exercise! appeared first on Colombo Telegraph.
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"There is a war in Ukraine today after the IMF intervened there."
"Are we trying to get out of this crisis by being caught in a western trap?" he demanded.
[…]The post Sri Lankan Economy Heading Towards A Dangerous Phase appeared first on Colombo Telegraph.
[…]The post Lanka’s Quest For Stability appeared first on Colombo Telegraph.
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed Prime Minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]
China on Wednesday praised India for making “great efforts” to help Colombo to tide over its worst financial crisis even as it refuted Sri Lankan President Gotabaya Rajapaksa’s remarks that Beijing has shifted its strategic focus from South Asia including Pakistan to South East Asia, saying the region still remained its priority. Sri Lanka has […]
The South Asian region is deeply divided in response to Russia’s invasion of Ukraine
Prime Minister Ranil Wickremesinghe has warned that the next three weeks will be tough for Sri Lanka. Speaking in Parliament today, the Prime Minister said that the public must use fuel and gas as carefully as possible. He also said that unessential travel should be limited as much as possible. “Therefore, I urge all citizens […]
[…]The post Sri Lanka’s Economic, Political & Human Crisis appeared first on Colombo Telegraph.
[…]The post What Can Ranil Get Done? appeared first on Colombo Telegraph.
Lack of jet fuel in Colombo forces SriLankan, other airlines to refuel in other airports
Regional plantation companies and smallholders are harvesting green leaf and arranging deliveries
[…]The post War On China? – II: US Military-Industrial Complex & The War Without End appeared first on Colombo Telegraph.
By Armida Salsiah Alisjahbana The Asia-Pacific region is at a crossroads today – to further breakdown or breakthrough to a greener, better, safer future. Since the Economic and Social Commission for Asia and the Pacific (ESCAP) was established in 1947, the region has made extraordinary progress, emerging as a pacesetter of global economic growth that has […]
[…]The post Causes Of Economic Crisis In Sri Lanka & Lessons For A New Age appeared first on Colombo Telegraph.