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The UN High Commissioner for Human Rights Volker Türk raised concerns over the impact of austerity measures in Sri Lanka. He said that while Sri Lanka’s macro-economic situation has improved, the impacts of the economic crisis together with associated austerity measures are affecting the poorest
Sri Lanka's Ministry of Finance, Economic Stabilization and National Policies issued a press release on June 16, 2024, to address speculations regarding a proposed property tax mentioned in the International Monetary Fund (IMF) Extended Fund Facility (EFF) program documents.The post Sri Lanka’s Finance Ministry clarifies Imputed Rental Income Tax appeared first on Sri Lanka News | Breaking N...
[…]The post Opportunities For System Change Open Up appeared first on Colombo Telegraph.
President Ranil Wickremesinghe emphasized that the future of Sri Lanka will be determined by the economic policies implemented over the next five years. The President delivered this statement while addressing the youth and business community in Mannar during his participation in the “Youth Conference” held Sunday (16). The President initially attended the Mannar District “Youth [...
President Ranil Wickremesinghe emphasized that the future of Sri Lanka will be determined by the economic policies implemented over the next five years. The President delivered this statement while addressing the youth and business community in Mannar during his participation in the “Youth Conference” held on Sunday (16). The President initially attended the Mannar District […]
Housing rights will be given to 250,000 low-income families in Colombo, President Ranil Wickremesinghe said. He said the program aims to ensure that every citizen owns land, a house, or a vehicle. President Wickremesinghe made these remarks at an event held at the Embilipitiya Mahaweli Stadium. The event was held to award freehold land deeds […]
Sri Lanka’s Ministry of Finance, Economic Stabilization and National Policies says the proposed homeowners tax will target high wealth individuals and not average income earners. The Ministry of Finance says the objective will be achieved by a suitable tax-free threshold to ensure that the tax is targeted on very high value property or multiple properties […]
Sri Lanka s economy showed significant growth more than anticipated in the first quarter, marking a strong recovery from a severe foreign exchange crisis.
[…]The post Road To Bankruptcy: The Role Of Foreign Currency Flows & Economic Vulnerabilities In Sri Lanka appeared first on Colombo Telegraph.
President Ranil Wickremesinghe yesterday said that a pre-feasibility study for a land connection between Sri Lanka and India has been completed, and a full feasibility study will be conducted in the near future, the President’s Media Division said. The President stated so when he met with Most Rev. Dr. Fidelis Lionel Emmanuel Fernando, the Bishop […]
The Ministry of Finance yesterday said that the focus of envisaged Rental Income Tax was on high-wealth individuals, and not on average income earners. In a statement titled ‘Clarification on Imputed Rental Income Tax’ the Ministry said: The recent publication of the International Monetary Fund (IMF) supported Extended Fund Facility (EFF) programme related documents make […]
Monday 17th June, 2024 The SLPP-UNP government is crowing about the release of the third tranche of the IMF loan, and has undertaken to fulfil some more bailout conditions such as the introduction of an imputed rental income tax. It has said the new tax will affect only the high-net-worth individuals, but the proof of […]
By N Sathiya Moorthy First, Team Ranil had claimed that the incumbent would be a ‘national candidate’ in the presidential polls due by mid-October. Since then, President Ranil Wickremesinghe himself has declared that the polls will decide the country’s success or failure. According to him, if the people are satisfied with his government’s policies and programmes […]
reform efforts aimed at rescuing the country from its financial crisis. During their meeting, [̷...
[…]The post RW’s Economic Transformation Bill & NPP’s Systemic Transformation appeared first on Colombo Telegraph.
by Amal JAYASINGHE (AFP) When Sri Lanka’s economy crashed in 2022, people sought work abroad wherever they could find it — including ex-soldiers who joined forces fighting in Ukraine after Russia’s invasion. Now the veterans — some of whom swapped their life savings for what they thought would be lucrative, non-combat jobs — are desperate […]
Washington (District of Columbia, United States) The International Monetary Fund released $336 million as part of a bailout loan instalment for Sri Lanka despite delays in the crucial restructuring of its foreign debt, including to China, the Washington-based lender said Wednesday. The South Asian nation was starting to recover, but the economy was “still vulnerable and the path […]
By Easwaran Rutnam Gitanjali Chakravarthy, General Manager, Hilton Yala Resort, Sri Lanka says there is a slow but sure shift towards gender diversity, inclusivity and equity. In an interview with Colombo Gazette, Chakravarthy says the evolving societal perceptions around gender roles, coupled with an increased emphasis on gender equality, have also contributed to a more […]
Convicted felon Trump says he prefers to be electrocuted rather than eaten by sharks by Vijaya Chandrasoma The news about the commemoration of the 80th anniversary of the D-Day invasion of the Normandy beaches by allied forces on June 6, 2044 was breaking as I was finishing my column last week. I was not able […]
Lurking danger from trained soldiers in want by Saman Indrajith United Republican Front leader, Patali Champika Ranawaka, MP, says that Sri Lanka faces the danger of becoming a ‘narco-state’ if immediate action is not taken to stop the growth of what he describes as the ‘political underworld.’ “There is a political underworld operating in this […]
Sri Lankan authorities have formulated an initial roadmap to ease restrictions on motor vehicle imports by 2025. According to the IMF, this plan will commence with the imports of public passenger and special purpose vehicles in the third quarter of 2024, followed by goods transport vehicles in the fourth quarter of the same year. By […]
The International Monetary Fund (IMF) says that there has been sufficient progress for Sri Lanka’s Debt Restructuring process to move forward. Joining the IMF press briefing on Sri Lanka’s second review of EFF programme held virtually yesterday morning (14), IMF Senior Mission Chief for Sri Lanka Peter Breuer stated that the IMF fully respect the democratic […]
Groundbreaking solar-powered battery swapping stations recognized for their impact on sustainable urban mobility and economic development in Sri Lanka The U.S. Embassy announced on Friday that Sri Lanka’s USAID-funded Sri Lanka Energy Project (SLEP) has received top honours at the 2024 annual conference for the Society for International Development, the premier U.S. event for international [̷...
The International Monetary Fund (IMF) states that sufficient progress has been made for Sri Lanka's debt restructuring process to move forward.The post IMF reports progress in Sri Lanka’s debt restructuring amid economic vulnerabilities appeared first on Sri Lanka News | Breaking News & Top Stories in Sri Lanka | ONLANKA.
[…]The post Critique On IMF’s Second Review Under Extended Fund Facility appeared first on Colombo Telegraph.
[…]The post President RW Emphasizes He Has Not Deviated From The Principles Of The Democratic Socialist System appeared first on Colombo Telegraph.
Sri Lanka will start talks on a free trade agreement with Malaysia, as it seeks to improve trade ties to support its recovery from a financial crisis, the Cabinet spokesperson said on Wednesday.
The United Nations Development Programme (UNDP) says Sri Lanka’s economic crisis offers a historic opportunity to optimise the use of resources for SDG attainment. UNDP in Sri Lanka, Resident Representative, Ms. Azusa Kubota said that there needs to be concerted efforts to strengthen the linkages
Nepal, which earlier hesitated to completely pivot towards China because of several economic and geopolitical factors, seems to have tilted heavily towards its big northern neighbor, giving it an opportunity to further increase its footprint in the Himalayan country’s political, economic, and social space. Yet what concerns Nepal watchers the most is the Himalayan nation’s […]
Ananda Walk 2024 will take place on July 07, with the participation of old and present Anandians, teachers and well-wishers. Addressing the media at the College on Monday, Executive President of the Ananda College Old Boys’ Association Prof. Athula Kaluarachchi said that this year’s walk would be organized to educate and empower the youth to increase their […]