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[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? appeared first on Colombo Telegraph.
U.S. Treasury Secretary Janet Yellen said on Sunday she was "eager" to work with China on areas of mutual interest, including debt restructurings for poorer countries, and that multilateral development banks needed reforms before capital increases could be considered.The post Yellen ‘eager’ to work with China on debt, other global challenges appeared first on ONLANKA - Sri Lanka Latest...
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 […]
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 […]
India has done more for Sri Lanka than the International Monetary Fund (IMF), Union Minister for External Affairs Dr S Jaishankar, has told the Indian Express. The IE story, filed from Ahmedabad, said: The Modi government, he [Jaishankar] underlined, is working on developing an “extended
India has done more for Sri Lanka than the International Monetary Fund (IMF), Union Minister for External Affairs Dr S Jaishankar said. The Modi Government, he underlined, is working on developing an “extended neighbourhood” that involves islands in the Indian Ocean, Gulf countries
India has done more for Sri Lanka than the International Monetary Fund (IMF), Union Minister for External Affairs Dr. S. Jaishankar stressed on Saturday.The post India did more for Sri Lanka than IMF – Jaishankar appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates
[…]The post Beyond The Myth Of TINA To The IMF: The New Development Bank In The Asian 21st Century appeared first on Colombo Telegraph.
A committee of Sri Lanka’s international private creditors sent its first debt rework proposal to the country’s authorities regarding over $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter.The post Sri Lanka’s bondholders send debt rework proposal to government appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - 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.
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 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...
India had helped Sri Lanka more than any other country, especially, Sri Lanka’s Foreign Minister Ali Sabry said during Raisina Dialogue ‘Ideas Pod.’ While the Indian government took some bold decisions to help Sri Lanka face its economic crisis, even the Indian public came forward to support Sri Lanka, the country’s foreign minister said in […]
The International Monetary Fund (IMF) on Saturday called for ‘timely and orderly processes’ under common framework with regards to Sri Lanka’s debt resolution. The island nation faced severe economic crisis which resulted in high debt.The post IMF calls for ‘timely and orderly processes’
International Monetary Fund Managing Director Kristalina Georgieva has called for a timely resolution of Sri Lanka’s debt restructuring. She said that timely and orderly processes are needed both for countries under the Common Framework (CF) for debt resolution and for those not covered
There are some disagreements over restructuring debt for distressed economies, the chief of the International Monetary Fund said on Saturday on the sidelines of a G20 meeting, adding that banning private cryptocurrencies should be an option.The post IMF flags debt restructuring hurdles
By Noah Berman A wave of darkness engulfed Pakistan on January 24 as its aging power grid strained to meet the country’s demand for electricity. The massive outage was the latest in a series of blackouts that have become a chronic symptom of Pakistan’s ailing and climate-vulnerable economy, under duress from devastating natural disasters, a colossal […]
India is drafting a proposal for G20 countries to help debtor nations badly hit by the economic fallout from the pandemic and Ukraine war, by asking lenders including China, the world's largest sovereign creditor, to take a large haircut on loans.The post Exclusive: G20 host India to propose China, other creditors take haircuts on loans – sources appeared first on Sri Lanka News - Latest Bre...
The International Monetary Fund (IMF) has approved loans of $4.7 billion to Bangladesh for disbursal starting immediately, making it the first to secure such funds out of three South Asian countries that applied last year amid economic trouble.The post Bangladesh secures $4.7 billion from IMF
USD 3 mn Japanese grant attached to ongoing project By Shamindra Ferdinando An agreement on the much advertised cash assistance, provided exclusively to paddy farmers by the Wickremesinghe-Rajapaksa government, was finalised several weeks before then President Gotabaya Rajapaksa stepped down on July 14, 2022 amidst violent protests. The Asian Development Bank (ADB) has provided the […]
A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7%, but the losses could reach 8-12% in some countries, if technology is also decoupled, the International Monetary Fund (IMF) said in a new staff report.The
Sri Lanka: Crisis of Rights, Accountability (Jakarta, January 12, 2023) – The change of presidents of Sri Lanka in 2022 did not lead to any improvement in the country’s human rights record, Human Rights Watch said on Wednesday in its World Report 2023. During 2022, thousands of Sri Lankans took to the streets after years […]
[…]The post Change Of Presidents Did Not Lead To Any Improvement In Human Rights: HRW appeared first on Colombo Telegraph.
President Ranil Wickremesinghe has responded to calls for reform and accountability with repression, Human Rights Watch said today following the release of its World Report 2023. The change of presidents of Sri Lanka in 2022 did not lead to any improvement in the country’s human rights record, Human Rights Watch said in the report. During 2022, […]
The New Year 2023 is definitely going to be a significant year for India’s leadership ambitions. India’s presidency of the G20 forum as well as the Shanghai Corporation Organization (SCO), brings with itself the rare opportunity to present to the world that India is well-prepared and well-equipped to clinch its position as an emerging power. […]
For much of the global economy, 2023 is going to be a tough year as the main engines of global growth - the United States, Europe and China - all experience weakening activity, the head of the International Monetary Fund said on Sunday.The post Global economy faces tougher year in 2023, IMF chief
(AFP)Sri Lanka on Thursday welcomed the first Russian travellers aboard a new flight service that was launched after the bankrupt nation urged Moscow to help revive its beleaguered economy by sending tourists. Russia was Sri Lanka’s biggest source of visitors at the start of the year but arrivals nearly ceased after the invasion of Ukraine […]
[…]The post Gota Back In The USA & A Chilling Killing: Welcome To 2023 A (Virtual) Realty In A Post-Truth World appeared first on Colombo Telegraph.