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No country wants to help Sri Lanka despite a deep economic crisis; past records weigh
Countries already under pressure from the economic fall-out of the COVID-19 pandemic, risk seeing the same economic turmoil and human misery as Sri Lanka, the UN said. “We’re witnessing a tragic series of events that are unfolding in Sri Lanka right now that should be a warning to anyone who thinks that, you know, it […]
Says economy could contract 7-pct in 2022
Sri Lanka’s total debt burden increased to Rs 21.6 trillion by March 2022, Prime Minister Ranil Wickremesinghe told Parliament today. He said that Sri Lanka needs to pay $3.4 billion between June and December this year, $5.8 billion in 2023, $4.9 billion in 2024, $6.2 billion in 2025, $4.0 billion in 2026 and $4.3 billion […]
[…]The post Sri Lanka: No Light Yet At The End Of The Tunnel appeared first on Colombo Telegraph.
Worst crisis in modern times
By Anjana Pasricha NEW DELHI — In Colombo, Sri Lanka’s capital, a sprawling port city showcased as a financial hub to rival Dubai is being set up on 269 hectares of land dredged from the sea. It is the latest of the huge Chinese-funded infrastructure projects in the island country that include a port and […]
[…]The post Bailing Out The ‘Gota’ Led Regime; A Wasted Exercise! appeared first on Colombo Telegraph.
Market has risen throughout the week, but in thin trade.
"There is a war in Ukraine today after the IMF intervened there."
Prime Minister Ranil Wickremesinghe informed Parliament today that Sri Lanka was facing the threat of hitting rock bottom. He also said that going to the International Monetary Fund (IMF) is the only option Sri Lanka has to resolve the economic crisis. The Prime Minister said that the aim
Brokers see downward trend to continue in the next few weeks until interest rates come down.
Talks will continue over the next few days with an IMF delegation already in the island nation, he said.
"Are we trying to get out of this crisis by being caught in a western trap?" he demanded.
"I'm sad that people I trained don't know how to gain power. Did I fail in that?"
“We have included everything that can be passed without a referendum,” he said.
Debt restructuring and tax hikes on the cards
An International Monetary Fund (IMF) team arrives in Sri Lanka on Monday for talks on a bailout programme, but time is short for a country just days from running out of fuel and likely months from...Click on the headline to read the full story
Sri Lanka could have avoided its current economic turmoil if it had gone to the International Monetary Fund (IMF) for a bailout sooner, the country’s central bank governor says. P Nandalal Weerasinghe told BBC Newsnight that the delay in seeking outside help was a mistake. The country
Sri Lanka’s fuel stocks will last for about five more days, its power and energy minister said on Thursday (Jun 16), as the island nation awaits official confirmation from the Indian government for a new US$500 million credit line for fuel. The country of 22 million people is caught in its worst financial crisis in […]
[…]The post The National List & The House Of Duds appeared first on Colombo Telegraph.
"China and the United States could work together to help Sri Lanka (to) overcome current difficulties (sp)."
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 […]
Sri Lanka is compelled to depend on other countries to manage the impacts of economic crisis.
Wickremesinghe is on the spotlight for his performance after accepting Prime Minister post unconditionally.
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 […]
raised revenues under an International Monetary Fund program after 2015, though spending also went up du...
[…]The post Sri Lanka’s Economic, Political & Human Crisis appeared first on Colombo Telegraph.
[…]The post Elon Musk To Rescue Sri Lanka From IMF Debt Bondage? appeared first on Colombo Telegraph.
The market saw the highest week;y foreign inflows in two months.