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By R M M Lilani A significant shift in the chaotic foreign policy of the Sri Lankan government has raised the idea of Japan once more acquiring the East Container Terminal (ECT), as the International Monetary Fund works to ameliorate Sri Lanka’s current financial crisis. After signing a MoU
- by Arundathie Abeysinghe U.S., Japan, India and Australia ready to intervene to prevent Sri Lank... (Category: Breaking News)
- Sri Lana PM laments unilateral termination of Japan, India-funded projects (Category: Breaking News)
- Quad urged to take more proactive role to address Sri Lanka crisis (Category: Breaking News)
- Beijing restless as QUAD comes to Colombo’s aid (Category: Breaking News)
[…]The post Transitional Justice In Sri Lanka: Accomplishments & Challenges In The Post-Civil War appeared first on Colombo Telegraph.
- Government Needs To Commit To More Than Commissions (Category: Breaking News)
- Government Needs To Commit To More Than Commissions (Category: Breaking News)
- Government Needs To Commit To More Than Commissions (Category: Breaking News)
- Government Needs To Commit To More Than Commissions (Category: Breaking News)
Multilateral agencies have sought coordinated assistance for Sri Lanka, following a discussion held with President Ranil Wickremesinghe today. Representatives from the World Bank (WB), Asian Development Bank (ADB), International Monetary Fund (IMF) and Asian Infrastructure Investment Bank (AIIB
- ADB holds talks with Ranil to offer financial support (Category: Breaking News)
- Coordinated assistance program supported by multilateral financial institutions is required for ... (Category: Breaking News)
- World Bank approves Sri Lanka’s access to concessional financing (Category: Breaking News)
- World Bank calls on Sri Lanka to stay the course on reforms (Category: Breaking News)
BY DR. Asoka Bandarage On September 1, 2022, debt-trapped Sri Lanka reached a preliminary agreement with the International Monetary Fund (IMF) for a 48-month Extended Fund Facility of $2.9 billion, which hardly covers the country’s outstanding debt, nor its immediate survival needs. Nevertheless
- Experimenting with State-Owned Enterprises (Category: Breaking News)
- Surpassing neoliberal fictions towards mission-oriented state (Category: Breaking News)
- Godahewa sounds alarm over attempts to privatise profitable Insurance Corporation (Category: Breaking News)
- Govt to conclude most SOE sales by August; Srilankan by Sept (Category: Breaking News)
US Secretary of State Antony J. Blinken and Sri Lankan Foreign Minister Ali Sabry had talks in Washington on debt restructuring and the International Monetary Fund (IMF) deal. Speaking to reporters ahead of his meeting with Sabry, Blinken noted that Sri Lanka and the US had almost 75
- Antony Blinken to have talks with Sri Lanka’s Foreign Minister (Category: Breaking News)
- US and India discuss situation in Sri Lanka (Category: Breaking News)
- Foreign Minister insists he does not go on joy rides (Category: Breaking News)
- Sri Lanka mourns death of former South African diplomat (Category: Breaking News)
Fitch on Thursday downgraded Sri Lanka’s Long-Term local-currency debt rating by two notches to “CC” from “CCC”, citing a probable local-currency debt default in the face of high interest costs and tight domestic financing conditions.The post Fitch downgrades Sri Lanka’s local currency debt rating to ‘CC’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLA...
- Fitch downgrades Sri Lanka s local currency debt rating to CC (Category: Breaking News)
- Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
- Fitch Ratings calls for political stability in Sri Lanka (Category: Breaking News)
- Fitch Downgrades Sri Lanka to ‘CCC’ (Category: Breaking News)
Sri Lanka owed Chinese lenders $7.4 billion - nearly a fifth of its public external debt - by the end of last year, calculations by the China Africa Research Initiative (CARI) published on Wednesday showed, an estimate higher than many others.The post Sri Lanka’s debt to China close to 20% of public external debt – study appeared first on Sri Lanka News - Latest Breaking News in Sri La...
- Debt owed by Pakistan, Sri Lanka and Bangladesh to China rise to record levels: Data (Category: Breaking News)
- China’s EXIM bank offers Sri Lanka debt extension – report (Category: Breaking News)
- India ‘strongly supports’ Sri Lanka debt restructuring plan, it tells IMF (Category: Breaking News)
- Paris Club proposing a 10-year moratorium on Sri Lanka’s debt – Report (Category: Breaking News)
Sri Lanka’s inflation is expected to significantly cool in the coming months after peaking near 70% this year, and the nation may gradually relax a currency band as inflows improve, central bank governor Nandalal Weerasinghe said.The post Sri Lanka’s inflation expected to significantly cool in the coming months – CBSL Governor appeared first on Sri Lanka News - Latest Breaking News in ...
- Sri Lanka’s headline inflation may rise to 70% in coming months – Central Bank of Sri Lanka (Category: Breaking News)
- Sri Lanka central bank chief: monetary policy transmission still incomplete (Category: Breaking News)
- Sri Lanka to introduce new central bank law, inflation target (Category: Breaking News)
- Sri Lanka Says Inflation Nears Peak, Easing Pressure on Economy (Category: Breaking News)
The dramatic fuel shortages that accompanied mass protests in Sri Lanka earlier this year may have eased, but for millions of Sri Lankans the economic crisis is worse than ever, said a report by the Amnesty International. It said: This month, the United Nations renewed a humanitarian appeal, stating that 28 percent of the population faces […]
- India s Adani Group to run three Sri Lankan airports? (Category: Breaking News)
- International rights groups slam Sri Lanka s flawed plans for a Truth Commission (Category: Breaking News)
- Ankara donates consignment of urgently needed medical supplies to Sri Lanka (Category: Breaking News)
- Rights group: Sri Lankan Tamil women exposed to sexual violence, trafficking after war (Category: Breaking News)
International human rights organisation, Human Rights Watch (HRW) urged Sri Lanka’s major foreign creditors, including China, Japan, and India to help restructure debts and urgently mitigate the adverse human rights impacts of the country’s worst-ever economic crisis.The post Human Rights Watch urges major creditors to help restructure Sri Lanka’s debts appeared first on Sri Lanka News - Lat...
- HRW urges major creditors to help restructure Sri Lanka s debts (Category: Breaking News)
- AI: Lanka at brink of humanitarian crisis (Category: Breaking News)
- Some Sri Lanka creditors seeking debt restructuring deal without China (Category: Breaking News)
- Japan to organize Sri Lanka creditors’ meeting by year-end – report (Category: Breaking News)
Nomura Holdings Inc, Japan's top brokerage and investment bank, has warned that seven countries – Egypt, Romania, Sri Lanka, Turkey, Czech Republic, Pakistan and Hungary – are now at a high risk of currency crises.The post Nomura warns seven emerging economies including Sri Lanka face currency crisis danger appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Japanese firm says Sri Lanka among seven countries at high risk of currency crises (Category: Breaking News)
- India commits to help Sri Lanka on debt in prospective IMF program (Category: Breaking News)
- World Bank’s IFC to provide Sri Lanka with $400 million financing (Category: Breaking News)
- IMF says Sri Lanka debt deal could help board clear first bailout review (Category: Breaking News)
By Ramesh Khan At the beginning of the year 2022, none in Sri Lanka would have thought that the end of the pandemic would not signal the end of misery. Instead, it signaled the advent of misery in forms that had been unknown to the Sri Lankans until now. A country filled with tourist spots, […]
- IFC to provide $400 million to banks in Sri Lanka (Category: Breaking News)
- $ 400 m IMF lifeline for struggling Sri Lanka (Category: Business)
- Over 400 respond (Category: Breaking News)
- US$ 400 m India-SL energy transaction in the pipeline (Category: Business)
Sri Lanka is in talks with the United Nations Development Programme and other agencies for a debt-for-nature swap programme, as the South Asian island faces its worst economic crisis in decades.The post Sri Lanka looks at debt relief through nature conservation – report appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka central bank chief says sovereign lenders yet to outline debt talks plans (Category: Breaking News)
- China responds to Victoria Nuland’s comment on Debt Relief to Sri Lanka (Category: Breaking News)
- India ‘strongly supports’ Sri Lanka debt restructuring plan, it tells IMF (Category: Breaking News)
- Sri Lanka president urges debt relief to help green transition (Category: Breaking News)
Sri Lanka has postponed a round of debt restructuring talks initially expected to be held on Thursday to allow central bank and treasury officials to provide clarifications sought by the country's creditors, its state minister of finance said.The post Sri Lanka postpones debt restructuring talks, hopes for IMF deal in December appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ...
- Sri Lanka calls for debt-restructuring proposals from dealer managers (Category: Breaking News)
- Sri Lanka could wrap up debt restructure talks by Sept, president says (Category: Breaking News)
- Japan says no pact yet with Sri Lanka on debt restructure talks (Category: Breaking News)
- Japan, India and France launch creditors meeting on Sri Lanka debt (Category: Breaking News)
[…]The post Economic Bankruptcy & Political Instability appeared first on Colombo Telegraph.
- Remembrance Week Marking Persecution Of Sri Lankan Muslims (Category: Breaking News)
- Modi’s Wolf Worrier Diplomacy Opens A Window For China In South Asia (Category: Breaking News)
- New Delhi, Colombo & Tamils: The Adani Factor (Category: Breaking News)
- New Delhi, Colombo & Tamils: The Adani Factor (Category: Breaking News)
[…]The post Unmasking The Likes Of Cabraals; A National Imperative! appeared first on Colombo Telegraph.
- Can Sri Lanka Come Out Of Its ‘Deer In The Headlights’ Mindset? (Category: Breaking News)
- With Impunity Remaining Normalised, What Hope For Sri Lanka? (Category: Breaking News)
- Lack of Common Sense Of A Time-Expired President (Category: Breaking News)
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
By Amal Jayasinghe Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country’s airline top of the list for reform.With nearly 6,000 staff, SriLankan Airlines is the biggest and most expensive of the cash-haemorrhaging, sclerotic […]
- Union: UL will be stripped of profitable units to ensure no takers for national carrier (Category: Breaking News)
- Four replacement engines for grounded aircraft by mid-July: Minister (Category: Breaking News)
- The National Airline: A financial catastrophe in the making! (Category: Breaking News)
- UL attempt to recruit foreign pilots flops due to low pay, high taxes – Dayasiri (Category: Breaking News)
By MAHADIYA HAMZA ECONOMYNEXT – Sri Lanka’s tourism revival is facing a challenge in bringing in more high spending foreign visitors due to increasing protests locally while monetary tightening, impacts of Russian invasion into Ukraine, and rising inflation globally.The move is likely to slow the island nation’s recovery from the unprecedented economic crisis as it is […]
- Developing plans and policies without young people is a futile exercise: UNICEF Sri Lanka (Category: Breaking News)
- Urgent measures needed to halt exodus of skilled personnel (Category: Breaking News)
- UNDP, EU assistance to equip tourism industry for sustainable future (Category: Breaking News)
- OPA panel discussion: The Role of Domestic Aviation in Sri Lanka Tourism (Category: Breaking News)
Sri Lanka's new government will release the 2023 budget on Monday focused on boosting revenue, implementing tax reforms and fiscal consolidation to secure an IMF bailout package to help the country recover from its worst financial crisis in decades.The post Sri Lanka’s 2023 budget aims to put crisis-hit economy back on track appeared first on Sri Lanka News - Latest Breaking News in Sri Lank...
- Sri Lanka budget to seek recovery for crisis-hit economy (Category: Breaking News)
- Sri Lanka balances polls and crisis recovery in 2024 budget deliberations (Category: Breaking News)
- Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says (Category: Breaking News)
- Sri Lanka’s president to cut spending in interim budget (Category: Breaking News)
Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country's airline top of the list for reform.The post Turbulence ahead: Airline on the block in Sri Lanka reforms appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- SriLankan Airlines obtains Government’s approval to recruit foreign pilots (Category: Breaking News)
- Sri Lanka’s airline posts US $ 525 million annual loss (Category: Breaking News)
- SriLankan CEO believes ‘worst is over’, expects $50 Million profit next year (Category: Breaking News)
- Sri Lanka airline boss says ‘don’t be a CEO during Covid’ (Category: Breaking News)
By Amal Jayasinghe Inflation in crisis-hit Sri Lanka dipped marginally for the first time in 12 months but prices were still an eye-watering 66 percent higher than a year ago, official data showed Monday. The island nation of 22 million people has suffered months of extreme economic hardship with severe shortages of essentials including food, fuel and medicines.The […]
- Inflation drops to 5.1 % in February (Category: Breaking News)
- CB says a big drop in inflation this month (Category: Breaking News)
- Inflation dips to 4.6%: Dept. of Census and Statistics (Category: Breaking News)
- Inflation rises to 6.5 pct in January (Category: Breaking News)
[…]The post Sri Lanka: Strategizing Economic Recovery appeared first on Colombo Telegraph.
- Sri Lanka: No Light Yet At The End Of The Tunnel (Category: Breaking News)
- Sri Lanka: Surviving The 75th Year Of Independence (Category: Breaking News)
- President RW’s Priority In 2023 (Category: Breaking News)
- Politics Of Protests (Category: Breaking News)
question delay in seeking required funding By Shamindra Ferdinando Prof. G.L.Peiris yesterday (03) said that if Local Government polls were to be held by March 20, 2023 as scheduled, the Election Commission (EC) should take tangible measures to set the process in motion.The former Foreign Minister Prof. Peiris said that […]
- Opp. asks if AG, EC backing conspiracy to put off LG polls (Category: Breaking News)
- Opposition meets EC, demands early announcement of LG polls (Category: Breaking News)
- SJB asks whether govt. decided to do away with LG elections (Category: Breaking News)
- Opposition asks EC to hold LG polls on 19 March (Category: Breaking News)
Hundreds of people marched in Sri Lanka's largest city Colombo on Wednesday protesting against higher taxes, inflation and alleged state-led repression as the country struggles to emerge from its worst financial crisis in seven decades.The post Hundreds march in crisis-hit Sri Lanka protesting tax hikes, crackdowns appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News...
- Police fire tear gas at protestors in Maradana (Category: Breaking News)
- Sri Lanka could tip back to chaos if six-time Prime Minister voted President (Category: Breaking News)
- Sri Lanka’s government employees to protest demanding Rs. 20,000 salary hike (Category: Breaking News)
- Police secures court order to block NPP protest planned for today (Category: Breaking News)
By Rebecca Bundhun India’s economy and equity markets are outperforming most of their global peers. Despite a slew of challenges including macroeconomic headwinds stemming from Russia’s war in Ukraine, elevated crude oil prices and tightening liquidity globally, the growth story of Asia’s third-largest economy remains intact. “The Indian economy and equity markets proved to be [&...
- $ 400 m IMF lifeline for struggling Sri Lanka (Category: Business)
- Etihad gets first Boeing 747-400 freighter (Category: Business)
- ‘India is in a sweet spot for the next few years’ (Category: Breaking News)
- Apparel producers decry 400% off-peak electricty price hike (Category: Breaking News)
Tamil Guardian asks: The UK policy, regarding mainly Sri Lankan Tamils held in Diego Garcia, is likely to remain unchanged. Some of those who reached Diego Garcia, home for the strategic US military base, over a year ago, have already been sent back “voluntarily” to Sri Lanka. They returned in the wake of the UK […]
- Westminster event declares support for Canadian action against Rajapaksa brothers (Category: Breaking News)
- Lanka warned of Extraterritorial jurisdiction (Category: Breaking News)
- Sri Lanka’s foreign policy dilemma (Category: Breaking News)
- UK considers imposing sanctions on Gen. Silva, others over ‘war crimes’ (Category: Breaking News)
Sri Lanka’s worst post-war economic crisis represents a major blow to the country’s progress towards achieving the United Nations’ Sustainable Development Goals (SDGs), efforts that were already hobbled by the COVID pandemic. However, the situation is also providing impetus to the work of academics that are using their knowledge to tackle the immediate fallout from […]
- India assures continued support for SL at Creditors’ Committee along with Japan and Paris Club (Category: Breaking News)
- Lanka eyes December bailout, IMF says timing hard to predict (Category: Breaking News)
- Government and UNDP map out SDG investment for private sector to support recovery (Category: Breaking News)
- World Bank approves $150 Mn to strengthen Lanka’s financial sector (Category: Breaking News)
Thousands of Sri Lankans marched in the capital on Thursday to urge the government to halt its crackdown on protests against an unprecedented economic crisis that has engulfed the Indian Ocean nation for months.The post Sri Lankans march against government crackdown on protests appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lankan President Ranil Wickremesinghe needs to end crackdown – Human Rights Watch (Category: Breaking News)
- Rights group says Sri Lanka harassed, intimidated protesters (Category: Breaking News)
- Sri Lanka could tip back to chaos if six-time Prime Minister voted President (Category: Breaking News)
- Core Group on Sri Lanka expresses concern over ‘heavy-handed’ responses to protests (Category: Breaking News)
Extending maturity of domestic debt by 10 years would reduce debt to GDP ratio faster
- Sri Lanka has no final decision yet on domestic debt re-structuring (Category: Breaking News)
- Crisis-hit Sri Lanka’s interim budget aims ambitious revenue, debt cut targets (Category: Breaking News)
- A resolute Sri Lankan economy (Category: Business)
- Sri Lanka plans to cut deficit to 6.8-pct of GDP in 2023 (Category: Breaking News)
By Meera Sirinivasan As Sri Lankans continue braving their worst economic crisis since Independence, urban poverty on the island has tripled in the last year, from 5% to 15 %, according to a recent World Bank report.Sri Lanka is experiencing “its highest poverty rate since 2009 [when the civil war ended], and an erosion of […]
- MONLAR flays international lenders and govt., for making 5.3 mn Lankans food insecure (Category: Breaking News)
- Harsha sheds light on growing poverty crisis (Category: Breaking News)
- Poverty, Aswesuma and food security (Category: Breaking News)
- Asia, Pacific policymakers gather in Colombo to review lessons learnt from pandemic and environm... (Category: Breaking News)
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