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Sri Lanka's key inflation rate rose to 1.5% in October from 1.3% a month ago, the statistics department said on Tuesday.The post Sri Lanka’s key inflation rate rises to 1.5% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Thursday 26th October, 2023 Some SLPP MPs are shedding copious tears for the public who are struggling to keep their heads above water. Prominent among them is former Minister Namal Rajapaksa, who is trying to absolve the SLPP of the blame for exponential increases in taxes and tariffs. Attributing the people’s economic woes to the […]
Sri Lanka has decided to continue to actively participate in the Belt and Road Initiative proposed by China. Issuing a joint statement, Sri Lanka reiterated that it will never allow any separatist activity against China on Sri Lanka‘s soil. The joint statement by China and Sri Lanka was issued following a visit to China by President Ranil Wickremesinghe […]
The International Monetary Fund (IMF) is looking for a strong budget and narrower deficit from Sri Lanka as it seeks funding to bridge the gap between government revenue and expenditure, the IMF mission chief for the country said on Friday.The post IMF wants strong budget, narrower deficit from Sri
Sri Lanka and the International Monetary Fund (IMF) have reached a staff-level agreement on economic policies to conclude the first review of US $ 3 billion, 48-month, Extended Fund Facility (EFF).The post Sri Lanka reaches IMF staff-level agreement on first review appeared first on ONLANKA - Sri
The International Monetary Fund (IMF) and Sri Lanka have reached a crucial staff-level agreement which is now subject to the approval by IMF management and the IMF Executive Board. After constructive discussions with the authorities in Colombo and during the Annual Meetings in Marrakech, IMF Senior
Sri Lanka is taking an unfavorable view toward a proposal by foreign dollar bondholders for restructuring its debt, signaling possible complications in negotiations that are key for accessing further funding to support its economic recovery. “This proposal has not received a favorable response from Sri Lanka,” the Ministry of Finance said in an official statement, […]
Sri Lanka is close to reaching a vital staff-level agreement with the International Monetary Fund to get funding, while it’s also assessing debt restructuring terms from foreign holders of its dollar bonds, according to junior Finance Minister Shehan Semasinghe.The post Sri Lanka Close to IMF
Sri Lanka has reached an agreement with the Export-Import Bank of China to cover about $4.2 billion of the island nation's outstanding debt, its finance ministry said in a statement on Thursday.The post Sri Lanka says it has deal with China EXIM bank covering $4.2 billion of debt appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Discussions between Sri Lanka and all its creditors are ongoing, though the International Monetary Fund has not been informed about any specific agreements, its mission chief for the country said on Wednesday.The post Sri Lanka’s talks with creditors ongoing, unaware of specific deals –
China said one of its financial institutions has reached a preliminary agreement with Sri Lanka on resolving China-related debt, a potentially major step toward resolving the South Asian nation’s fiscal woes.The post China says Exim Bank and Sri Lanka reached preliminary debt deal appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka's central bank resumed interest rate cuts on Thursday to boost growth and as the government seeks to lift revenue and repair its balance sheets in a bid to secure continued financial support from the International Monetary Fund.The post Sri Lanka resumes rate cuts to boost growth as inflation cools appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Sri Lanka At A Crossroads: The IMF’s 16-Point Prescription For Reform appeared first on Colombo Telegraph.
The World Bank revised up its forecasts for Sri Lanka's economy on Tuesday, noting the crisis-hit nation had made strides in reducing inflation and had benefited from tourism revenue as well as an appreciation in its currency.The post World Bank boosts Sri Lanka economic forecasts after inflation progress appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The US government said a bondholder’s lawsuit against Sri Lanka over the country’s historic debt default should be put on hold.The post Sri Lanka Bondholder Lawsuit Should Be Put on Hold, U.S. Says appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund (IMF) has recommended sixteen priority actions in its recently released Governance Diagnostic Assessment (GDA) on Sri Lanka to address systematic and severe governance weaknesses and deep-rooted corruption vulnerabilities across State functions in order to unlock
By SHIHAR ANEEZ ECONOMYNEXT –Sri Lanka’s second tranche of a $3 billion loan from the International Monetary Fund is likely to be delayed as the country has failed to meet the program objective and a global lender’s official said there is no fixed timeline on the disbursement of second tranche. Sri
Negotiations to secure the second tranche of funding from the International Monetary Fund (IMF) to Sri Lanka are progressing positively, Acting Finance Minister Shehan Semasinghe announced.The post Sri Lanka’s acting finance minister says positive progress in securing second IMF tranche
The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9bn bailout package, due to a potential shortfall in government revenue generation, Al Jazeera has reported, quoting the lender. Speaking after a two-week visit to the country, IMF
The International Monetary Fund (IMF) says despite early signs of stabilization, full economic recovery in Sri Lanka is not yet assured. Growth momentum remains subdued, with real GDP in the second quarter contracting by 3.1 percent on a year-on-year basis and high-frequency economic indicators
Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on Wednesday citing people familiar with the matter. The members want the group of major creditors, including the US, Japan and India, to sign a memorandum […]
The International Monetary Fund (IMF) mission team concluding its visit to Sri Lanka said that despite early signs of stabilization, full economic recovery is not yet assured.The post Despite signs of stabilization, full economic recovery not yet assured – IMF Mission appeared
The International Monetary Fund is concerned about a shortfall in revenue collection by Sri Lanka’s government this year, though that is unlikely to derail a $2.9 billion loan programme for the crisis-hit country, two Sri Lankan sources told Reuters.The post Sri Lanka’s revenue shortfall
[…]The post SL Debt Justice Collective Writes Open Letter To IMF On DDO appeared first on Colombo Telegraph.
[…]The post IMF & Global Debt Crises appeared first on Colombo Telegraph.
The Chinese spy ship ‘Shi Yan 6’ has entered the Malacca strait, bound for Colombo, amid confusion over whether Sri Lanka has granted access for the spy vessel to dock at Colombo. According to reports last month, the Sri Lankan Defence Ministry has granted Shi Yan 6 access to dock at Colombo port. However, the Sri Lankan […]
Manusha Nanayakkara, the Minister of Labour and Foreign Employment, confirmed that the existing 9% employee benefit related to the Employee Provident Fund will remain unchanged.The post No harm to the Employee Provident Fund – Manusha appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The first review of the International Monetary Fund’s Extended Fund Facility (EFF) for Sri Lanka is slated to commence today (September 14).The post First review of IMF’s Extended Fund Facility for Sri Lanka to commence today appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has accepted offers to exchange about $10 billion worth of defaulted local debt for new bonds, the Finance Ministry said on Tuesday, taking it a step towards meeting debt restructuring requirements ahead of an International Monetary Fund (IMF) review.The post Sri Lanka announces $10
International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Sunday called on the G20 members to lead by example and deliver on the promises of $100 billion per year for climate finance supported by strengthening the Multilateral Development Banks. Speaking at the conclusion