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Sri Lanka's in-principle pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday.The post IMF says Sri Lanka debt deal could help board clear first bailout review appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
A group of Sri Lanka's creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan's Jiji News reported on Wednesday, without naming a source or giving any details.The post Creditor nations likely to agree on Sri Lanka debt restructuring – report appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top S...
Sri Lanka needs $100 billion to become a net zero emitter by 2040, President Ranil Wickremesinghe said on Tuesday, as the island also attempts to build climate change resilience while navigating its worst financial crisis in decades.The post Sri Lanka needs $100 billion to become net zero emitter
SLPP leader Mahinda Rajapaksa yesterday (28) hit back at critics, claiming that a robust economy had been built under his presidency. He said the UNP-SLFP government which ruled the country during the 2015-2019 period should be held responsible for the current economic crisis. The following
[…]The post The Origins Of Sri Lanka’s Economic Crisis appeared first on Colombo Telegraph.
[…]The post No Democratic Logic To Hold Provincial Council Elections In 2025 appeared first on Colombo Telegraph.
by Jehan Perera The government is facing an uphill task to rebuild the country which continues to be in a state of economic and moral decline which was evident in parliamentary proceedings last week. The initial hopes of a quick transition from the economic and moral decline that accompanied the pre-Aragalaya period ended with the […]
[…]The post Unwanted Palestine Blood Bath Due To Lack Of Honesty & Integrity appeared first on Colombo Telegraph.
[…]The post SC Judgment, Fiscal Philosophy, & Long-Term Decisions For A Brighter Future appeared first on Colombo Telegraph.
Monday 27th November, 2023 The SJB has commenced collecting signatures for a public petition as part of a campaign to have those who are responsible for the current economic crisis stripped of their civic rights. Given public resentment, which is palpable, the SJB may be able to obtain hundreds
Sri Lanka’s central bank signaled it will pause after cutting interest rates for a fourth time this year as the economy gradually recovers from its unprecedented crisis and inflation bottoms out.The post Sri Lanka signals pause after four rate cuts as IMF loan awaited appeared first on ONLANKA
Supermarket manager Laknath Dias says the economic crisis in his native Sri Lanka is too much for him to bear. He is getting ready to fly to Israel in December to work as a farmhand for nearly 10 times the pay, despite the war with Hamas.The post Thousands of Sri Lankan workers set to depart
By Shamindra Ferdinando Foreign Minister Ali Sabry, PC, yesterday said that Parliament like other institutions should bear responsibility for the unprecedented economic crisis caused during President Gotabaya Rajapaksa’s administration. Minister Sabry said so when The Island sought his response
By Shamindra Ferdinando Top SJB spokesman Dr. Harsha de Silva on Monday (20) dismissed Justice Minister Dr. Wijeyadasa Rajapakshe’s claim that well over USD 56.5 bn had been parked overseas by some exporters. Dr. de Silva also contradicted claims made by rebel SLPP MPs Vasudeva Nanayakkara, Wimal Weerawansa and Gevindu Cumaratunga on the matter. The […]
Sri Lanka's consumer price inflation rose to 1% in October year-on-year from 0.8% in September, the statistics department said on Tuesday.The post Sri Lankan inflation rises to 1% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
financial crisis in decades. “The agreement on the […]
[…]The post Regain A Vision Of Rhe Common Good appeared first on Colombo Telegraph.
By C. A. Chandraprema The judgement delivered by a divided five-member bench of the Supreme Court with regard to two fundamental rights cases numbered 195/2022 and 212/2022 filed by several individuals including Mahim Mendis, Chandra Jayaratne, Julian Bolling and the NGO Transparency International has stirred up a political storm. The majority judgment was delivered by […]
by Ahilan Kadirgamar Sri Lanka is going through its worst economic crisis since the 1930s, and the stabilisation policies of the Government could drastically change the political economic landscape of the country. Amidst these changes underway, education more broadly and the university system
[…]The post Still, The Mirage appeared first on Colombo Telegraph.
[…]The post Greenwashing Bond Scams & Financializing Mother Nature: Climate Science Fiction Versus Local Realities appeared first on Colombo Telegraph.
Sri Lanka expects to receive the second installment of the loan provided under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) in December, 2023.The post Sri Lanka expects second tranche of IMF loan in December appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Shamindra Ferdinando One-rime Secretary of the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) Lacille de Silva yesterday (17) said that leaders of political parties represented in Parliament should set up a committee to study the landmark Supreme Court […]
Sri Lankan government had shared the details and the conditions of the 4.2 billion dollar debt deal with China with other creditors, Governor of the Central Bank Dr. Nandalal Weerasinghe told Bloomberg.Governor Weerasinghe expressed optimism about restructuring Sri Lanka’s debt through the official creditors committee, aiming to secure IMF support for a 330 million dollar […]
Sri Lanka’s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors a key sticking point with countries like India paving the way for more loans from the International Monetary Fund.The post Sri Lanka gives China deal details, keeping IMF aid on track appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The momentous event of the week-ended-today was the presentation of Budget 2024 by the President in his capacity as the Minister of Finance. Usually, Sri Lankan Presidents keep away from Parliament; not Ranil Wickremesinghe, and a jolly good move it is. The Island of Tuesday November 14 headlined the VI Event as: “Prez presents Budget […]
By Saman Indrajith TNA Jaffna District MP M.A. Sumanthiran told Parliament on Wednesday that Rajapaksa brothers had enough money to compensate 22 million people in the country. Participating in the second reading debate on Budget 2023, MP Sumanthiran said that his party welcomed the Supreme Court determination that ex-President Gotabaya Rajapaksa, along with former Finance […]
The Supreme Court has found the Rajapaksa brothers guilty of causing the economic crisis in Sri Lanka. The Supreme Court ruled that former President Gotabaya Rajapaksa, former Prime Minister Mahinda Rajapaksa and former Finance Minister Basil Rajapaksa were among those responsible for the crisis
Budget highlights Following are the highlights of Budget proposals made by President Ranil Wickremesinghe in Parliament yesterday: New economic and political system The President said in order not to fall back into a crisis, the economic and political system of Sri Lanka must be created anew
* Tax revenue to be raised by 47.1% in 2024 * Rs 10,000 increase for public sector workers * Pensioners to get Rs 2,500 allowance * Rs. 450 bn reserved for bank recapitalization * Four new universities to be established * 20% of state banks to be given off by Saman Indrajith President Ranil Wickremesinghe, […]