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Food prices up 57-pct over 12-months and 86-pct since inflationary policy began in Aug 2019
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France has gifted Sri Lanka anesthetics and respiratory medications worth 300,000 Euros
Investors are waiting for cues from budget proposals, new government's policies to achieve stability
By Easwaran Rutnam India and Japan have decided to cooperate to address the crisis in Sri Lanka, the Japanese Foreign Ministry said. The agreement was reached at a meeting between Japanese Prime Minister KISHIDA Fumio and the Prime Minister of India Narendra Modi. The two met at a Japan-India
An International Monetary Fund (IMF) team has concluded a virtual mission to Sri Lanka during which it was noted that Sri Lanka must give an assurance that debt sustainability will be restored. The IMF team led by Peter Breuer and Masahiro Nozaki conducted a virtual mission with the Sri Lankan authorities during May 9-24 on […]
IMF has advised Sri Lanka top seek debt restructuring as early as in April 2020, officials have told a parliament panel
They brought the proposal (in 2020) that Financial Advisors have to be appointed to make debt sustainable.
By Easwaran Rutnam The Committee on Public Enterprises (COPE) has proposed appointing a special Parliament Select Committee to probe the causes behind the economic crisis. COPE has also proposed investigating the officials and others who neglected their duties and are responsible for the crisis
The central bank has tightened the monetary policy, allowed sharp depreciation in the rupee to attract dollar inflows
“What the international community is looking for is long-term policy credibility and sustainability."
Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing
The USAID will closely work with other donors such as the International Monetary Fund (IMF), the World Bank, G7 countries, and other stakeholders to support Sri Lanka during this extraordinarily difficult period, the agency s administrator Samantha Power has assured Prime Minister Ranil Wickremesinghe.
Banks face mark-to-market losses as well as bad loans from soft-peg crisis
Experts say, “The lack of cooperation by Beijing would complicate the debt recovery journey of Sri Lanka”. The magnitude of the economic crisis that Sri Lanka is facing has reached catastrophic proportions. The whole world is astounded by the rampant mismanagement beyond the comprehension
Cabraal has been prevented leaving the country from April 7
By Nick Beake Billions of dollars of Chinese money are boosting some European economies – but some of the deals being struck have a catch. Critics say they are “debt traps”, where China gets to choose what happens if loans aren’t repaid. China insists it is a reliable investment partner – but it is also […]
The debt was repaid in 2021 by running down foreign reserves and putting the central bank in debt
It has 90,000 metric tonnes of Siberian Light Crude
Money printing triggers excess outflows, forcing the currency down and triggering parallel exchange rates
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Food suppliers have been willing to extend credit to local importers due to strong relationships spanning generations
Debt advisors expected to be appointed by the cabinet soon
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