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Sri Lanka needs institutional reforms in order to achieve long-term debt sustainability, said Steve Hanke, who played a key role in establishing new currency regimes in emerging markets like Argentina and Montenegro.The post Sri Lanka needs institutional changes for long-term debt sustainability, expert says appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
In a major breakthrough, Sri Lanka has received a financial assurance letter from the Exim Bank of China and the letter of agreement has been sent to the International Monetary Fund (IMF). President Ranil Wickremesinghe told Parliament that he received the financial assurance letter from the Exim Bank of China last night and he and […]
[…]The post President Ranil Wickremesinghe’s Special Statement – Full Text appeared first on Colombo Telegraph.
Hatch has joined forces with Draper Startup House to unveil Colombo’s first-ever co-living space. The space marks the first phase of Hatch’s strategic partnership with Draper Startup House, and was officially opened by Silicon Valley billionaire investor Tim Draper during his recent visit to Sri Lanka. Through this initiative, Hatch serves to encourage digital nomad […]
[…]The post Sri Lanka’s Two Challenges: Economic Recovery & Political Devolution appeared first on Colombo Telegraph.
Samagi Jana Balawegaya (SJB) Patali Champika Ranawaka has written to the International Monetary Fund (IMF) office in Sri Lanka, questioning whether the recently introduced electricity tariffs and the fuel price hike is in accordance with the IMF criteria.
By Noah Berman A wave of darkness engulfed Pakistan on January 24 as its aging power grid strained to meet the country’s demand for electricity. The massive outage was the latest in a series of blackouts that have become a chronic symptom of Pakistan’s ailing and climate-vulnerable economy
Sri Lanka President Ranil Wickremesinghe emphasised the importance of having a proper plan to strengthen the country’s economy, during a meeting with businessmen and lawyers in the Kandy district.The post Having Proper plan to strengthen Sri Lanka’s economy is important – President
The sixth “Operation Dost” flight has landed in Turkey, carrying emergency supplies, rescue personnel, sniffer dog squads, medicine and medical equipment, and other relief material. The devastating earthquake that inflicted huge loss of life and property has thrown normal life out of gear in both Turkey and Syria. Within hours, India responded with disaster relief […]
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
[…]The post Tax! Tax!! Tax!!! appeared first on Colombo Telegraph.
Sri Lanka has the potential to establish the green economy, specially by way of renewable energy, said President Ranil Wickremesinghe addressing a High-Level event on Strategies and Actions to Accelerate Sri Lanka’s Transition to a Green Growth Pathway.The post Sri Lanka has initiated an action
[…]The post A Reflection: 75 Years Of Independence Lacked By The People Of Sri Lanka appeared first on Colombo Telegraph.
[…]The post Seventy Five Years Of Independence Or Curse appeared first on Colombo Telegraph.
[…]The post Do What You Like Vs Like What You (Have To) Do! appeared first on Colombo Telegraph.
Pakistan is gripped by a major economic crisis, with the rupee plummeting, inflation soaring and energy in short supply as IMF officials visit to discuss a vital cash injection.The post ‘We’ll end up like Sri Lanka’: Pakistan stares at economic collapse as IMF visits 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 Lanka was found to be more corrupt in 2022 than it was in the year 2021, according to the 2022 Corruption Perceptions Index (CPI). The 2022 Corruption Perceptions Index (CPI) released by Transparency International saw Sri Lanka’s rankings drop by 1 point in 2022 from the year 2021. The CPI has ranked Sri Lanka […]
India and Sri Lanka have been able to address the impact of a Chinese surveillance vessel’s visit to Hambantota port last year and Colombo is looking to New Delhi to help drive economic recovery through investments in key sectors such as energy, Sri Lankan envoy Milinda Moragoda said.The post Jaishankar’s visit reset bilateral relations, says Sri Lankan envoy appeared first on Sri Lanka News...
[…]The post President Needs To Implement Pledges Before Elections appeared first on Colombo Telegraph.
Wednesday 18th January, 2023 The SLPP-UNP government has proved its rivals’ claim that it has failed. Its grandees never miss an opportunity to boast that their efforts to tackle the economic crisis have shown signs of reaching fruition soon. But Cabinet Spokesman and Minister Bandula Gunawardena has revealed the truth. Announcing some Cabinet decisions, at […]
President Ranil Wickremesinghe has said that India’s response to cash-strapped Sri Lanka’s request for debt restructuring is expected by the end of this month. Sri Lanka, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), has been trying to to get financial assurances from its major creditors […]
Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore blocks for foreign firms to scout for energy resources and bring in vital investments to the crisis-hit country, a top official told Reuters on Thursday.The post Sri Lanka finalises oil exploration rules, earmarks 900 offshore blocks appeared first on Sri Lanka News - Latest Breaking News in Sri L...
By Dr. C. S. Weeraratna (csweera@sltnet.lk) Sri Lanka is facing an unprecedented crisis mainly due to economic mismanagement and corruption in the various development sectors. During the last few weeks, at various discussions related to the country’s economy, the need to take effective action
Sri Lanka is yet to receive financial assurances from its bi-lateral creditors, State Minister of Finance Shehan Semasinghe said. As a result, he said Sri Lanka has not yet been able to secure approval for a bailout package from the International Monetary Fund (IMF) Executive Board. “But we are confident of securing the approvals. However […]
Why did former President Sirisena vacate the Paget Road residence, having made it part of his ‘deal’ with the UNP? A three-judge bench of the Supreme Court, comprising Justices Priyantha Jayawardena, Gamini Amarasekara, and Kumuduni Wickremasinghe, having examined the arguments put forward by both the petitioner and respondent parties, issued an interim order on March […]
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.
‘Petroleum, water services, too, should be under electricity regulator’ By Shamindra Ferdinando The Convenor of the combined trade union front, in fuel, ports and power sectors of the Samagi Jana Balavegaya (SJB), Ananda Palitha, yesterday (04) alleged that consumers had been deprived of the benefit of the continuing drop in world crude oil prices as […]
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 policies for 2023, the Central Bank […]
by Eng. Parakrama Jayasinghe This is the question in everybody’s mind these days. Anything up to 10 hours of blackouts have been predicted by the Ceylon Electricity Board (CEB) trade unions. But Minister of Power and Energy, Kanchana Wijesekera, has been quick to contest this prediction while being careful not to say that there will […]