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By Lynn Ockersz ‘Sri Lankans are very good at writing plans but nothing very positive has resulted from these efforts over the years. Nevertheless, the country needs a new system of planning and an essential requirement for this is a sound institutional framework coupled with good governance, chairman of the Gamani Corea Foundation (GCF) and […]
By Sanath Nanayakkare Minister of State for Finance Shehan Semasinghe said on Monday that the government is aware of the low deposit interest rate senior citizens are earning on their savings as the policy rates are taking a downward trajectory amid declining inflation and expanded economic activity. He, however, said that interest rate relief cannot […]
Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardena, has stressed that any alteration, even as small as one-tenth, to the on-going government program spearheaded by President Ranil Wickremesinghe could pose a significant threat to the stability of the country once more. Despite numerous reports indicating an increase in poverty among the country’s most vulnerable, the minister ...
Money, exchange rates, and money printing are crucial components of a nation’s monetary policy framework, wielding significant influence over economic and financial stability. This intricate relationship between these fundamental factors directly affects financial and economic dynamics. I am going to examine the nexus between these factors, clarifying their roles in the financial system and ...
[…]The post Conundrum Of Elections & IMF Programme appeared first on Colombo Telegraph.
By Jehan Perera Tracing history and going back to the colonial era, President Ranil Wickremesinghe has said that despite the adverse impact of world wars and internal conflicts, Sri Lanka has steadfastly upheld its democratic value of ensuring the functioning of both the government and the opposition without interruption. The president was addressing members of […]
Somalia is keen to explore opportunities for partnerships with Sri Lanka, the President of Somalia Hassan Sheikh Mohamud said. Sri Lanka has identified potential areas of cooperation with Somalia as it lies on the crossroads of international maritime and global sea trade, providing easy access to markets in Africa, the Middle East and Europe. This […]
[…]The post Colombo University Business Economic Summit 2024: Keynote Address appeared first on Colombo Telegraph.
Empower Her, Empower a Nation Empowering her is to empower a nation. Bringing its deep-rooted values to the spotlight this International Women’s Day, Siyapatha Finance PLC united together to celebrate the collective strength, power and achievement of woman and womanhood across the Island Nation. In hopes of enhancing women’s role in taking leadership, Siyapatha embarked […]
Sri Lanka was optimistic about resolving its debt restructuring issues in the second quarter to secure financing from the International Monetary Fund (IMF), as external creditors are reportedly engaging positively, Bloomberg said quoting the country’s state finance minister. “We anticipate a favourable outcome,” stated state minister Shehan Semasinghe during discussions held in L...
Sri Lanka is hopeful it can resolve debt restructuring issues in the second quarter so it can get financing from the International Monetary Fund because external creditors are all engaging “positively,” according to the South Asian nation’s junior finance minister.The post Sri Lanka confident of meeting conditions for IMF funding soon – report appeared first on ONLANKA - Sri Lanka Latest Bre...
Sri Lanka has called for proposals from dealer managers to support its restructuring of some $12 billion of international bonds, the Finance Ministry said on Thursday, in a fresh sign that the island nation is closing in on finalizing its debt rework.The post Sri Lanka calls for debt-restructuring proposals from dealer managers appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Sto...
Prime Minister Dinesh Gunawardena called upon the Asian countries to rededicate themselves to building an Asia, free from poverty where prosperity is equitably shared. Addressing the BOAO Forum for Asia Annual Conference 2024 in Hainan in China, he praised China's "miraculous success story of lifting millions of people from poverty to a higher living standard under the able leadership of President...
Prime Minister Dinesh Gunawardena called upon the Asian countries to rededicate themselves to building an Asia, free from poverty where prosperity is equitably shared. Addressing the BOAO Forum for Asia Annual Conference 2024 in Hainan in China, he praised China's "miraculous success story of lifting millions of people from poverty to a higher living standard under the able leadership of President...
in May 2022 as the economy […]
[…]The post What Is Wrong With Sri Lanka? appeared first on Colombo Telegraph.
By Dr Laksiri Fernando It is not the country per se, but the politicians and the people who are wrong. While politicians should take 70 percent responsibility, the people also should take 30 percent. It is true that these wrongs on the part of the politicians or the people are not limited to Sri Lanka. […]
Sri Lanka’s cabinet has approved increasing the minimum wage by 40%, a top official said on Tuesday, to support workers struggling with living costs as the economy slowly shakes off its worst financial crisis in decades, helped by an IMF bailout. Sri Lanka’s economy collapsed in early 2022
Chinese Prime Minister Li Qiang assured his Lankan counterpart Dinesh Gunawardena that his country would assist Sri Lanka’s debt restructuring process continuously and develop its economy. Sri Lanka has $4.2 billion bilateral debt and $ 2.9 billion in commercial debt outstanding to China
Women in Sri Lankan State Universities – II An adapted version of the keynote delivered by Dinesha Samararatne at the International Women’s Day celebration organised by the Centre for Gender Equity and Equality for the University Grants Commission, 15 March, 2024. (First part of this article appeared on 22 March, 2024) Today, I would like […]
The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points (bps) to 8.50 percent and 9.50 percent, respectively.The post Sri Lanka Central Bank further reduces policy rates appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stor...
Sri Lankan Prime Minister Dinesh Gunawardena arrived in Beijing on Monday for a six-day official visit to China at the invitation of Chinese Premier Li Qiang. According to Foreign Ministry spokesperson Lin Jian on Friday, Chinese leaders will have in-depth exchange of views with Gunawardena on continuing China-Sri Lanka traditional friendship, deepening political mutual trust, […]
Sri Lankan President Ranil Wickremesinghe emphasizes the necessity of a new economic reform program for the country’s economic recovery.The post Sri Lanka President stresses vitality of new Economic reforms for country’s recovery appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
President Ranil Wickremesinghe participating in a friendly discussion organized by the ‘United Youth Union’ on the theme ‘Future of our Youth’ in Polonnaruwa on Saturday (23), stressed the necessity of a new economic reform program for the country’s economic recovery. He requested for collective support from all citizens to prevent the next generation from inheriting […]
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[…]The post Economic Realities & Political Promises appeared first on Colombo Telegraph.
After constructive discussions in Colombo, IMF Senior Mission Chief Peter Breuer and Deputy Mission Chief Ms. Katsiaryna Svirydzenka issued the following statement: “The IMF team reached staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement and concluded the 2024 […]
… corruption cited as one of the three issues faced by the country Japanese Ambassador Hideaki Mizukoshi Thursday (21) urged Sri Lanka to turn the continuing economic, political and social crisis into an opportunity to achieve success. The Ambassador said that the country should take advantage of the continuing external pressure to adopt reforms, build-up […]
The Japanese Ambassador to Sri Lanka, H.E. MIZUKOSHI Hideaki, expressed Japan’s support for the current program aimed at rebuilding the Sri Lankan economy.The post Japanese Ambassador assures Japan’s support for Sri Lanka’s Economic development efforts appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The Japanese Ambassador to Sri Lanka MIZUKOSHI Hideaki, expressed Japan’s support for the current program aimed at rebuilding the Sri Lankan economy. Drawing parallels between Japan’s historical journey and Sri Lanka’s current economic challenges, the Ambassador highlighted Japan’s resilience