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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.
The United Nations Tuesday warned of a worsening food crisis in bankrupt Sri Lanka and said the number of people needing urgent humanitarian help had doubled to 3.4 million.The post UN warns of worsening food crisis in Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Unbridled industrialization of the developed countries is the root cause of climate change, leaving the poor to suffer the consequences, President Ranil Wickremesinghe said addressing the COP27 Climate Change Conference in Sharm El-Sheikh, Egypt.The post Developing countries worst affected by rising emissions from industrialized world and must be compensated – President appeared first on Sri...
At least 5.7 million people, or 26 percent of the population in Sri Lanka, require humanitarian assistance, the International Federation of Red Cross and Red Crescent Societies (IFRC) has said in a report.The IFRC Needs Assessment Report for October 2022 warned that without immediate humanitarian assistance, and ‘upstream’ interventions to address the fragility of systems, […]
with severe shortages of essentials including food, fuel and medicines.The […]
At least 5.7 million people (26% of the population) in Sri Lanka require humanitarian assistance at the moment, the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) says.The post At least 5.7 Million people in Sri Lanka require humanitarian assistance – UN agency appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Sri Lanka: Strategizing Economic Recovery appeared first on Colombo Telegraph.
Sri Lanka said it held a productive meeting with its bilateral creditors, which include India and China, on Thursday as the country looks to restructure its debt and carve a path out of its worst financial crisis in decades.The post Sri Lanka holds debt restructuring talks with bilateral creditors appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
At least 5.7 million people, or 26 per cent of the population in Sri Lanka require humanitarian assistance, the International Federation of Red Cross And Red Crescent Societies said in a report. The report warned that without immediate humanitarian assistance, and ‘upstream’ interventions to address the fragility of systems, services and facilities, this number will […]
[…]The post Journey Through The Rotten Bridge For The Reforms Of Government Expenditure appeared first on Colombo Telegraph.
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...
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 [&...
JVP questions motive of protest leaders By Shamindra Ferdinando The JVP-led Jathika Jana Balavegaya (JJB) says that those who have pledged their support for a protest march and rally in Colombo today (02) against what they called suppression of ‘Aragalaya’ activists, fully cooperated with the Wickremesinghe-Rajapaksa government’s agenda. Former JVP MP and trade union […]
Sri Lanka’s inflation decreased from 69.8 per cent in September to 66 per cent in October, the Government said, the first such decline in a year after shortages of food and fuel eased in the crisis-hit island nation. Sri Lanka has been struggling with inflation for nearly a year, mainly
[…]The post President Says ‘Raising Direct Taxes Inevitable To Reach IMF Goals’ – A Response appeared first on Colombo Telegraph.
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 […]
Faithful urged to refrain from making Christmas a ‘mere occasion for external celebrations’ Catholic bishops have urged devotees to provide medicines and dry rations for the needy at a time when Sri Lankan is mired in crises.The Catholic Bishops’ Conference of Sri Lanka (CBCSL), in a statement released on Oct. 28, urged people to be […]
[…]The post Child’s Guide To Ranilnomics: Don’t Ignore The Message Delivered By IPS SOE22 appeared first on Colombo Telegraph.
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.
"The government should step in and set a rate, but instead they are making obnoxious statements."
The shrinking value of the currencies of most developing economies is driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, according to the World Bank’s latest Commodity Markets Outlook report.The post Currency depreciations risk
[…]The post US Vulnerabilities Coalesce appeared first on Colombo Telegraph.
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 […]
By SHIHAR ANEEZ Leaving his family and relatives was the hardest decision for Suren. But he had no other option.He never wanted to go abroad for work. An accountant by profession, Suren even had the opportunity to be promoted for a higher post at the private firm he was working at in Colombo. But he was […]
by Rajan Philips The Petroleum Products (Special Provisions) (Amendment) Bill had a quiet passage in parliament with a majority of 60 votes, 77 for and 17 against. What is disquieting is that only 94 of the 224 MPs (excluding the Speaker) were in parliament for the vote on a Bill on petroleum products, the mismanagement […]
The demand to develop and put into practice new and innovative sustainable lifestyle methods that contribute towards a greener economy continues to surge, now more than ever as Sri Lanka sees itself in the wake of an economic crisis. The recent fuel hikes seen the world over along with the rise
By A.A. Premasiri Around 75 percent of small and medium scale rice mills had been closed down, W.H. Gamini, Tissamaharama Rice Producers Association Chairman, told The Island on Friday. “Now, we have to pay an additional 2.5 percent social security tax. We have decided to stop buying paddy until we are exempted from this tax,” […]
We will give our storage facilities and pipelines for a fee.
By Rathindra Kuruwita The government must reveal the losses incurred by the Ceylon Petroleum Corporation (CPC) since 2008 due to the prevention of cost-reflective pricing, and tell the people how it planed to recover the losses, former Minister of Energy, and leader of Pivithuru Hela Urumaya (PHU), Udaya Gamnapila, said.Gammanpila said that CPC trade unions […]
Sri Lanka’s 70% inflation is hitting its peak as crippling shortages ease and bailout funds look within reach, yet it’s far from putting the central bank governor at ease.The post Sri Lanka Says Inflation Nears Peak, Easing Pressure on Economy appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.