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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
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
Sri Lanka is caught up in the China-Quad battle. The Indian participation in the ‘Quad’ project has further complicated matters for Sri Lanka. President Gotabaya Rajapaksa’s ouster, last July, following a US-backed protest campaign that overwhelmed the seemingly invincible administration, underlines the urgent need for a thorough examination of external interventions. By Shamindra Ferdinando The [...
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 […]
By Jehan Perera Slowly but surely the ruling party is beginning to reassert itself. An indication is the removal of Prof G L Peiris from the chairmanship of the ruling party. In the aftermath of the economic collapse last year he has been one of the few members from the SLPP to have adopted a […]
[…]The post The Magic 2048: What Is To Be Done To Make Ranilnomics A Reality? appeared first on Colombo Telegraph.
[…]The post IMF, ATA & RW’s Consolidation appeared first on Colombo Telegraph.
[…]The post The Easter Attacks & A Game Of Thrones: The Master Mind, A Cover Up Investigation & AI appeared first on Colombo Telegraph.
Friday 21st April, 2023 Parliament is going to debate the government’s agreement with the IMF, which has approved USD 3 billion for Sri Lanka under the Extended Fund Facility Arrangement. The debate is scheduled to take place from 26 to 28 April, we are told. Public finance is the province of Parliament, which should scrutinise the […]
Economists sharply cut Sri Lanka’s growth outlook through this year as curbs on imports and still-limited reserves persist even as the International Monetary Fund releases bailout loans and authorities work toward debt restructuring efforts.The post Sri Lanka GDP outlook slashed as economy
Economists sharply cut Sri Lanka s growth outlook through this year as curbs on imports and still-limited reserves persist even as the International Monetary Fund releases bailout loans and authorities work toward debt restructuring efforts.
• Says existing system of international debt schemes hinders vulnerable, developing economies • Urges for political will at global level to reform international financial architecture • Requests for support in debt restructuring, debt sustainability and adequate climate financing By Sanath Nanayakkare Shehan Semasinghe, State Minister of Finance speaking at the UN ECOSOC Financing for Development ...
Sri Lanka Savings Bank said that it demonstrated agility in a challenging year amidst an unprecedented economic crisis by achieving a growth in Profit After Tax (PAT) of 74% to LKR 445.1 million for the year ended 31st December 2022 compared to LKR 255.1 million recorded a year earlier. Chairperson, Keasila Jayawardena said ” amidst […]
[…]The post Sri Lanka Is Still In Deep Trouble, With Or Without Ranil appeared first on Colombo Telegraph.
discourse on the economy, economic recovery – […]
[…]The post Four Popular Fallacies Relating To Central Banking appeared first on Colombo Telegraph.
Japan, India and France on Thursday announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka’s debt, a move they hope would serve as a model for solving the debt woes of middle-income economies.The post Japan, India and France launch creditors meeting on Sri Lanka debt appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA New...
By Easwaran Rutnam China will continue to support Sri Lanka’s efforts to address debt vulnerabilities, Vice Minister of Finance of China Wang Dongwei has said. He had given the assurance during a meeting with Sri Lanka’s State Minister of Finance Shehan Semasinghe. “Had a fruitful discussion with Wang Dongwei, Vice Minister of Finance of China […]
Japan, India and France announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka’s debt, a move they hope would serve as a model for solving the debt woes of middle-income economies. It remains uncertain, however, whether Sri Lanka’s biggest bilateral creditor – China – will join the initiative launched […]
The World Bank called for increased transparency for reforms to succeed in Sri Lanka. World Bank Vice President for South Asia, Martin Raiser said that he had a productive meeting with State Minister of Finance Shehan Semasinghe in Washington. Central Bank Governor Nandalal Weerasinghe also attended the meeting. “Glad to see progress on fiscal, financial […]
While the days of good news are going on for India, the latest good news is that our country’s currency, the rupee, is gradually making its place and influence among countries of the world. Seeing the increasing role of India in international trade, the countries of the world are coming forward to do financial transactions […]
IMF has shown the way and now Sri Lanka has to dig itself out of the mess, says Governor by Sanath Nanayakkare Central Bank Governor Dr. Nandalal Weerasinghe recently said that Sri Lanka needs to build and keep a ‘comfortable level’ of currency reserves in order to maintain the country’s balance-of-payments situation in the event […]
The Asian Development Bank is considering more concessionary funding for Sri Lanka and support for green bond issues as part of its assistance to help the South Asian nation recover from its worst economic crisis in decades.The post Asian Development Bank eyeing cheaper funds for Sri Lanka, green bond support appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s sovereign lenders have yet to inform the government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the central bank governor told Reuters in an interview on Tuesday.The post Sri Lanka central bank chief says sovereign lenders yet to outline debt talks plans appeared first on Sr...
Bill titled ‘Central Bank of Sri Lanka’: By Shamindra Ferdinando Speaker Mahinda Yapa Abeywardena made the following announcement immediately after the opening of Parliament on April 04, 2023. The Speaker declared: “I wish to make an announcement in respect of the Bill titled ‘Central Bank of Sri Lanka.’ The court has determined that none of […]
Sri Lanka’s sovereign lenders have yet to inform the Government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the Central Bank Governor told Reuters in an interview on Tuesday. The island nation aims to formally engage […]
Video: World Bank reiterates support to stabilize Sri Lanka’s economy (English)
The World Bank has reiterated its support for Sri Lanka to stabilize the economy, step up social protection and revive growth.
President Ranil Wickremesinghe said that the government headed by him is committed to build a digitalized modern Sri Lanka. The President said that it is a duty of the government to accelerate digitalization by digitalizing the government sector and a Committee of Cabinet Ministers would be set up to ensure that the government sector utilization […]
[…]The post The Role Of National Defence In A Crisis-Ridden Economy appeared first on Colombo Telegraph.