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Sri Lanka born international economist Dr. Howard Nicholas of Erasmus University, Netherlands has categorically stated that Sri Lanka must not adopt the IMF recommendations on monetary policy for it has no rational basis and evidence of success anywhere in the world. Coming from a Western based economist that provides a lot of food for thought […]
[…]The post Speeding Up Recovery Requires Consistency appeared first on Colombo Telegraph.
[…]The post Debt Restructuring, Austerity, & The IMF: A Solution Or A Worsening Of The Problem? appeared first on Colombo Telegraph.
Thai AirAsia airline resumed operations from Bangkok to Colombo route yesterday (July 9), the Airport and Aviation Services (Sri Lanka) (Private) Limited (AASL) said.The post Thai AirAsia resumes flights from Bangkok to Colombo appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]
The man charged with clawing Sri Lanka out of bankruptcy says he had warned about economic calamity years before it hit and was pressed into retirement for his troubles.The post ‘No second chance’ to save Sri Lanka, central banker warns appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
India plans to allow Sri Lanka up to 12 years to repay its debt to help ease the financial burden on the island nation, India’s Export Credit Guarantee Corporation (ECGC) Ltd’s chairman-cum-managing director M. Senthilnathan said.The post India to allow Sri Lanka to repay debt over 12 years appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
A year after angry Sri Lankans stormed the president's residence and forced his ouster during a meltdown of the economy, the island's streets are calm, there are no serpentine queues at fuel stations and hours-long power cuts have ended.The post Analysis: A year later, Sri Lanka’s tentative
India plans to allow Sri Lanka up to 12 years to repay its debt to help ease the financial burden on the country, India’s Export Credit Guarantee Corporation (ECGC) Ltd’s Chairman-cum-Managing Director M. Senthilnathan said. Sri Lanka, facing its worst economic and political crisis in over seven decades, owes $7.1 billion to bilateral creditors— $3 […]
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran next month appeared first on ONLANKA - Latest Breaking News updates on Sri Lanka.
Sri Lanka’s national carrier is expecting a profit of USD 50 million for the upcoming year, SriLankan Airlines CEO Richard Nuttall revealed, adding that he also expects passenger traffic to surpass pre-COVID levels by the end of 2023 owing to the ‘economic boom’ in tourism.The post SriLankan CEO believes ‘worst is over’, expects $50 Million profit next year appeared first on ONLANKA N...
By Rathindra Kuruwita The Sri Lankan government was not allocating funds to ensure the availability of essential public goods despite the gradual stabilisation of the economy, Prof. Priyanga Dunusinghe, of Department of Economics at the Colombo University said addressing the media. “
Representing Sri Lanka at the 14th International Infrastructure Investment and Construction Forum (14th IIICF) Friday (02), Minister of Ports, Shipping and Aviation – Nimal Siripala de Silva said that under the leadership of President Ranil Wickremesinghe, the government was dedicated to driving the digitalization initiative forward under name ‘DIGIECON 2030’, signifying a pivotal step towards [&#...
By Prsanna Brahamana reporting from Bangkok Outgoing Thai Prime Minister Prayut Chan-o-cha while welcoming his Lankan counterpart Dinesh Gunawardena to Bangkok, on Wednesday, stated that Thailand and Sri Lanka’s bilateral ties go as far back as over 700 years. Premier Gunawardena is in Thailand to attend the two-day celebrations marking Vesak or Visakha Bucha in […]
Sri Lanka's central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently high inflation.The post Sri Lanka’s Central Bank to hold rates as inflation stays high appeared first on ONLANKA News - Sri Lanka
Cordelia Cruises is all set for its first international voyage to Sri Lanka in early June, and the new route is likely to boost the Indian cruise traffic by 25-30 per cent, according to a top official. The cruise liner, currently operating for domestic destinations, has witnessed a revival in the post-COVID era. The occupancy […]
Vietnam wants to develop its bilateral relations with Sri Lanka more effectively, Vietnam’s Deputy Prime Minister Tran Luu Quang said. Tran Luu Quang met with President Ranil Wickremesinghe in Tokyo. Talking to the Sri Lankan leader, Deputy PM Tran Luu Quang, who is paying a working visit to Japan, affirmed that Vietnam consistently attaches importance […]
By Harischandra Gunaratna Chairman of the Institute of Hospitality, Dr. Harsha Jayasinghe on Tuesday said the brain drain in the country had not only led to a serious loss of talent but also hampered the industry’s ability to provide high-quality services and meet the demands of national and international visitors. Speaking at the 31st AGM […]
The economic crisis has placed Sri Lanka among the 20 poorest countries in Asia. A report published on Insider Monkey noted that while Sri Lanka is classified as a developing country, it is currently facing an economic crisis characterized by the devaluation of its currency, increasing inflation, and a humanitarian emergency caused by a severe […]
Sri Lanka is mulling measures to lure back Chinese tourists in a bid to alleviate an unprecedented debt crisis, its tourism minister said, as the South Asian nation tries to stabilize the economy.The post Sri Lanka eyes Chinese tourism to help ease debt crisis appeared first on ONLANKA News | Sri Lanka Latest Breaking News and Top Stories - Sri Lanka News.
Sri Lanka's creditor nations held their first meeting Tuesday to discuss restructuring the country's debt. But the largest creditor, China, stood by as an observer, raising doubts over the success of the process.The post Sri Lanka’s creditors hold 1st meeting, with China as observer appeared first on ONLANKA News ::. Latest Sri Lanka News with Breaking News Alerts from Sri Lanka.
tourists in 2023 for crisis-hit economy appeared first on Sri Lanka Breaking News and Top Headlines ...
Adventure tourism is playing a key role in helping Sri Lanka rebuild its economy after a turbulent few years for the South Asian nation.The post Sri Lanka looks to adventure travel to attract ‘quality’ tourists and help rebuild economy appeared first on Sri Lanka Breaking News and Top
Sri Lanka President Ranil Wickremesinghe addressed the United National Party (UNP) May Day celebrations held at the Sugathadasa Indoor Stadium in Colombo yesterday (May 01) through video technology.The post Sri Lanka President says Let 2048 be the year of development for Sri Lanka appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades.The post Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says appeared first on Sri Lanka
Celebrating over three decades of service and support to grow microfinance customers across the island, Sri Lanka’s leading private sector bank HNB PLC, revived its annual trade fair and exhibition for Micro, Small and Medium Enterprises (MSMEs) The Gami Pubuduwa Pola 2023. Organised by the bank to showcase up-and-coming businesses in its portfolio, the trade […]
The flag carrier of Seychelles is set to launch a service to Colombo, Sri Lanka starting June 20 and is offering customers a special launch promotion in celebration. Air Seychelles announced on April 11 plans to add a new route to its ever-growing network. The airline mainly operates interisland flights over the Indian Ocean and is […]
Sri Lanka's national carrier has been struggling against even more headwinds than many of its rivals.The post Sri Lanka airline boss says ‘don’t be a CEO during Covid’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Janatha Aragalaya: The People’s Struggle In Sri Lanka appeared first on Colombo Telegraph.
Sri Lankan President Ranil Wickremesinghe announced that the agreement with the International Monetary Fund (IMF) would be presented to Parliament for a vote on whether to support it and that following this vote, the key points of the agreement would be enacted into law.The post Once the Parliament approves IMF agreement, the main points will be passed into law – Sri Lanka President appeared...