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Sri Lanka stood pat on borrowing costs for the first time in three meetings, after slashing the cash ratio for banks to bolster domestic liquidity and growth.The post Sri Lanka Holds Rates After Bank Cash Ratio Cut for Growth appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? appeared first on Colombo Telegraph.
India’s Finance Minister Nirmala Sitharaman has invited China, as a large creditor to Sri Lanka, to join Japan, India and France in their effort to help the country cope with its debt distress. She has also called upon the International Monetary Fund (IMF) and the World Bank to speed up relief
As a large creditor to Sri Lanka, China is welcome to join the effort steered by Japan, India and France to help the island nation cope with its debt distress, India’s Finance Minister Nirmala Sitharaman said on Saturday.The post Along with Japan and India, China can join debt relief effort for Sri Lanka – Nirmala Sitharaman appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top ...
As a large creditor to Sri Lanka, China is welcome to join the effort steered by Japan, India and France to help the island nation cope with its debt distress, Finance Minister Nirmala Sitharaman said. She also called upon the International Monetary Fund (IMF) and the World Bank to speed up relief
Some key announcements regarding stronger economic and commercial ties were expected to be made during President Ranil Wickremesinghe’s two-day visit to New Delhi, authoritative sources said. President Wickremesinghe left for New Delhi yesterday (20).India’s economic strengths and technological advancements coupled with Sri Lanka’s recovery process lay a strong foundation for forging stronger econ...
At first glance, life in Sri Lanka's financial capital Colombo looks deceptively normal.The post Is the worst over for Sri Lanka’s economic crisis? appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]
The man charged with clawing Sri Lanka out of bankruptcy says he had warned about economic calamity years before it hit and was pressed into retirement for his troubles.The post ‘No second chance’ to save Sri Lanka, central banker warns appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
India plans to allow Sri Lanka up to 12 years to repay its debt to help ease the financial burden on the island nation, India’s Export Credit Guarantee Corporation (ECGC) Ltd’s chairman-cum-managing director M. Senthilnathan said.The post India to allow Sri Lanka to repay debt over 12 years appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
A year after angry Sri Lankans stormed the president's residence and forced his ouster during a meltdown of the economy, the island's streets are calm, there are no serpentine queues at fuel stations and hours-long power cuts have ended.The post Analysis: A year later, Sri Lanka’s tentative economic recovery eludes the poor appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top S...
India plans to allow Sri Lanka up to 12 years to repay its debt to help ease the financial burden on the country, India’s Export Credit Guarantee Corporation (ECGC) Ltd’s Chairman-cum-Managing Director M. Senthilnathan said. Sri Lanka, facing its worst economic and political crisis in over seven decades, owes $7.1 billion to bilateral creditors— $3 […]
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran next month appeared first on ONLANKA - Latest Breaking News updates on Sri Lanka.
By Rose Kenny During his recent visit to Japan, President Ranil Wickremesinghe highlighted the country’s resolute tilt towards Asia, signalling a strategic shift in its foreign policy. Building on the government’s vision to elevate Asia as a global centre of economic integration, President Wickremesinghe’s address at the Nikkei Forum, Future of Asia, outlined his vision for the region. This inclin...
Sri Lanka's central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently high inflation.The post Sri Lanka’s Central Bank to hold rates as inflation stays high appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
Cordelia Cruises is all set for its first international voyage to Sri Lanka in early June, and the new route is likely to boost the Indian cruise traffic by 25-30 per cent, according to a top official. The cruise liner, currently operating for domestic destinations, has witnessed a revival in the post-COVID era. The occupancy […]
Sri Lanka is mulling measures to lure back Chinese tourists in a bid to alleviate an unprecedented debt crisis, its tourism minister said, as the South Asian nation tries to stabilize the economy.The post Sri Lanka eyes Chinese tourism to help ease debt crisis appeared first on ONLANKA News | Sri Lanka Latest Breaking News and Top Stories - Sri Lanka News.
A program to generate income for Sri Lanka through 'Health Tourism' is expected to be prepared, President’s Senior Adviser Sagala Ratnayaka said.The post Sri Lanka Government focuses on promoting ‘Health Tourism’ appeared first on ONLANKA News ::. Latest Sri Lanka News with Breaking News Alerts from Sri Lanka.
Sri Lanka's creditor nations held their first meeting Tuesday to discuss restructuring the country's debt. But the largest creditor, China, stood by as an observer, raising doubts over the success of the process.The post Sri Lanka’s creditors hold 1st meeting, with China as observer appeared first on ONLANKA News ::. Latest Sri Lanka News with Breaking News Alerts from Sri Lanka.
Sri Lanka expects to host 1.55 million visitors and earn 2.7 billion Sri Lankan rupees ($8.4 million) in much-needed tourism revenue this year, as it maps a road to the recovery of its tourism sector amid its worst economic crisis in decades.The post Sri Lanka expects cash infusion from 1.5 million tourists in 2023 for crisis-hit economy appeared first on Sri Lanka Breaking News and Top Headlines ...
Adventure tourism is playing a key role in helping Sri Lanka rebuild its economy after a turbulent few years for the South Asian nation.The post Sri Lanka looks to adventure travel to attract ‘quality’ tourists and help rebuild economy appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
Sri Lanka President Ranil Wickremesinghe addressed the United National Party (UNP) May Day celebrations held at the Sugathadasa Indoor Stadium in Colombo yesterday (May 01) through video technology.The post Sri Lanka President says Let 2048 be the year of development for Sri Lanka appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
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 Breaking News and Top Headlines - ONLANKA News.
Sri Lanka's national carrier has been struggling against even more headwinds than many of its rivals.The post Sri Lanka airline boss says ‘don’t be a CEO during Covid’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lankan President Ranil Wickremesinghe announced that the agreement with the International Monetary Fund (IMF) would be presented to Parliament for a vote on whether to support it and that following this vote, the key points of the agreement would be enacted into law.The post Once the Parliament
The Sri Lankan government is seeking Russian cooperation in multiple sectors, namely, tourism, air traffic, and locomotive construction, besides eyeing crude from Moscow.The post Sri Lanka mulls buying Russian oil & fertilizers appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka has a final opportunity to progress and it is imperative for everyone to collaborate in creating a prosperous community for future generations, without resorting to finger-pointing, emphasized President Ranil Wickremesinghe.The post Sri Lanka President says ‘this is our last chance to forge ahead’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA ...
Sri Lankan President Ranil Wickremesinghe emphasized during an interview organized by Harvard University on the 24th, through Zoom technology, that Sri Lanka’s access to the growing Indian and African markets should not be disrupted by any big power rivalry or conflictThe post Sri Lanka’s access to growing Indian & African markets cannot be disrupted – President Ranil appeared fir...
By Shamindra Ferdinando The Japanese embassy and UNICEF (United Nations Children’s Fund, previously known as United Nations International Children’s Emergency Fund), on 16 March, 2023, issued a joint statement that dealt with the impact the developing political-economic-social crisis is having on the poor in Sri Lanka. The statement focused on the suffering of the children […]
President Ranil Wickremesinghe says Sri Lanka is no longer bankrupt after the International Monetary Fund (IMF) approved a loan facility for the country. Making a special statement, President Wickremesinghe said that the approval of the IMF facility for Sri Lanka signals an end of Sri Lanka’