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In a recent televised interview, Nishan de Mel, the Executive Director of Verité Research, stated that holders of Sri Lanka’s International Sovereign Bonds (ISBs) have expressed concerns about specific aspects of the debt sustainability analysis conducted by the country alongside the IMF. This disagreement is one of the key hurdles in reaching an accord with […]
The Samagi Jana Balawegaya (SJB) has urged the government to maintain transparency in the ongoing debt restructuring process as national elections are around the corner and that the next government will have to honour the conditions agreed upon by the incumbent administration. The SJB said so soon after the government of Sri Lanka rejected international […]
Sri Lanka informed the G-24 Finance Ministers and Central Bank Governors that the country’s economy has now stabilised. State Minister of Finance Shehan Semasinghe told the delegates during the IMF/WB Spring meetings in Washington that the growth momentum in Sri Lanka has commenced. “
Reuters reports that Sri Lanka has turned down a restructuring plan proposed by international bondholders to address its $12 billion debt, thereby endangering crucial International Monetary Fund (IMF) aid and further delaying the resolution of its ongoing two-year debt crisis.The post Sri Lanka debt restructuring stumbles as government rejects bondholders’ proposal appeared first on ONLANKA ...
President Ranil Wickremesinghe assured solutions to plantation workers during a walk along the Pekoe Trail in Nuwara Eliya. The “Pekoe Trail” spans 300+ km through the Central Highlands of Sri Lanka, regarded as one of Asia’s best-kept secret routes. Originating from the renowned city of Kandy, it extends south towards the Hatton and Horton Plains […]
[…]The post Nettles Needing To Be Grasped By Future Leaders Of Sri Lanka appeared first on Colombo Telegraph.
[…]The post Debate Over Profits Of Banks: Who Shares Them Ultimately? – Part II appeared first on Colombo Telegraph.
Coca-Cola has announced Kaushali Kusumapala’s appointment as the new Country Director for Sri Lanka and Maldives, effective from 1st April 2024. Making history as the first Sri Lankan woman in this position, Kaushali succeeds former Country Director, Pankaj Sinha, who assumed the role in 2019. In this position, Kaushali will closely collaborate with bottling teams, […]
[…]The post The Impact Of The Next Election On The Economic Reforms appeared first on Colombo Telegraph.
The International Monetary Fund (IMF) has selected Kristalina Georgieva to serve as its Managing Director for a second five-year term starting on October 1, 2024.The post Kristalina Georgieva selected for second term as IMF’s Managing Director appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Recovery, Growth & Toxic Imports appeared first on Colombo Telegraph.
[…]The post Undemocratic Rule Of Modi’s India Is A Security Threat To South Asia appeared first on Colombo Telegraph.
[…]The post With A View To A Kill (Master Spy-James Bond)! appeared first on Colombo Telegraph.
In a landmark move, the Hambantota International Port (HIP) commenced its inaugural container transshipment service operated by the Mediterranean Shipping Company (MSC). MV ‘MSC Ingrid’ made her maiden call at HIP on 9th April, discharging a total of 500 plus TEUs of transshipment containers to be connected to a second carrier, ‘MSC Sky 11’ expected […]
Sri Lankan President Ranil Wickremesinghe emphasized the importance of modernizing the legal system to effectively implement the government’s program aimed at fostering rapid economic growth in the country.The post Sri Lanka President calls for legal modernization to propel Sri Lanka’s economic growth appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The World Bank has found that more than a quarter of Sri Lanka’s population is living in poverty,according to its latest publication. Titled ‘World Bank Update: Bridges to Recovery’ released last week (April 2) shows that poverty has increased over the past four years—from 11 percent in 2019 to almost 26 percent in 2024 in Sri Lanka. […]
The assistance of the Asian Development Bank (ADB) to help Sri Lanka recover from the crisis will be aligned with the strategic objectives of the Bank’s country partnership strategy (CPS) 2024–2028, Takafumi Kadono, Country Director, Sri Lanka Resident Mission, ADB said. Mr. Kadono made this comment at the ‘Serendipity Knowledge Programme’ (SKOP) held on April […]
[…]The post Debate Over Profits Of Banks: Who Shares Them Ultimately? appeared first on Colombo Telegraph.
[…]The post Palestine & Ukraine: Two More Nails In Imperialism’s Coffin? appeared first on Colombo Telegraph.
Sri Lankan President Ranil Wickremesinghe emphasized the government’s commitment to leading Sri Lanka towards prosperity by 2048 through transformative changes in modern agriculture, tourism, and the energy sector.The post Sri Lanka President calls on youth to lead nation forward through Government initiatives appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
LOLC Finance PLC, Sri Lanka’s premier Non-Banking Financial Institution (NBFI), has once again set a remarkable milestone in the digital finance landscape by clinching an outstanding five gold awards at the prestigious Lankapay Technnovation Awards 2024. This exceptional achievement fortifies LOLC Finance’s utmost expertise and innovation in the realm of digital financing, further emphasizing its ...
Sri Lanka anticipates the third tranche of the International Monetary Fund (IMF) extended fund facility by June, according to State Minister of Finance Shehan Semasinghe. However, the country must first obtain consensus from the country’s creditors on restructuring its debt. “We anticipate the third tranche by June. That’s the standard procedure. After a review, there’s […]
[…]The post Brahmins Demand A Debate On Debt appeared first on Colombo Telegraph.
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 […]