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by Harim Peiris As we approach the end of 2023 and with about a year to go for the next presidential election due before end 2024, President Ranil Wickremesinghe’s frequent refrain and indeed the rationale for his administration is the revival of the national economy after it was spectacularly
Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday.The post Sri Lanka to receive about $600 million ADB funding post-IMF approval – official appeared first on ONLANKA - Sri Lanka Latest Breaking News and ...
[…]The post Climate Colonialism At CoP 28: Carbon Laundering Via Green Bondscams? appeared first on Colombo Telegraph.
[…]The post Resolving Systemic Debt Crises Needs A Paradigm Shift appeared first on Colombo Telegraph.
[…]The post A Political Imperative appeared first on Colombo Telegraph.
Sri Lanka's in-principle pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday.The post IMF says Sri Lanka debt deal could help board clear first bailout review appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka needs $100 billion to become a net zero emitter by 2040, President Ranil Wickremesinghe said on Tuesday, as the island also attempts to build climate change resilience while navigating its worst financial crisis in decades.The post Sri Lanka needs $100 billion to become net zero emitter by 2040, president says appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
SLPP leader Mahinda Rajapaksa yesterday (28) hit back at critics, claiming that a robust economy had been built under his presidency. He said the UNP-SLFP government which ruled the country during the 2015-2019 period should be held responsible for the current economic crisis. The following
[…]The post The Origins Of Sri Lanka’s Economic Crisis appeared first on Colombo Telegraph.
[…]The post SC Judgment, Fiscal Philosophy, & Long-Term Decisions For A Brighter Future appeared first on Colombo Telegraph.
Monday 27th November, 2023 The SJB has commenced collecting signatures for a public petition as part of a campaign to have those who are responsible for the current economic crisis stripped of their civic rights. Given public resentment, which is palpable, the SJB may be able to obtain hundreds of thousands of signatures for its […]
By Amal JAYASINGHE Malé (Maldives) AFP: Rising sea levels threaten to swamp the Maldives and the Indian Ocean archipelago is already out of drinking water, but the new president says he has scrapped plans to relocate citizens. Instead, President Mohamed Muizzu promises the low-lying nation will beat back the waves through ambitious land reclamation and building […]
(Excerpted from the memoirs of Lalith de Mel) He returned to a Sri Lanka going through a difficult phase due to the JVP uprising. There were curfews and a sense of fear in the air. His predecessor in Sri Lanka had a young family and was glad to get away from the chaos that prevailed […]
Supermarket manager Laknath Dias says the economic crisis in his native Sri Lanka is too much for him to bear. He is getting ready to fly to Israel in December to work as a farmhand for nearly 10 times the pay, despite the war with Hamas.The post Thousands of Sri Lankan workers set to depart for Israel despite war appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The Chartered Institute of Logistics and Transport Sri Lanka (CILT Sri Lanka) will hold their CILT International Conference 2023, an event that brings together the best minds and practices in the field of logistics and transportation on 24th November, at the Balmoral, Kingsbury Hotel Colombo. The Main Sponsor for this year’s conference is Haulmatic Technologies, […]
By Shamindra Ferdinando Foreign Minister Ali Sabry, PC, yesterday said that Parliament like other institutions should bear responsibility for the unprecedented economic crisis caused during President Gotabaya Rajapaksa’s administration. Minister Sabry said so when The Island sought his response as regards the responsibility of Parliament for the developing situation against the backdrop of the cou...
By Rathindra Kuruwita Historically, Sri Lankan governments have failed to reduce the budget deficit, SJB MP Eran Wickramaratne says. Sri Lankan governments have consistently looked at maximising revenue but paid minimal attention to curtailing expenditure, MP Wickramaratne has said. Even the International Monetary Fund (IMF) had not factored in state expenditures when the latest bailout […]
Sri Lanka's consumer price inflation rose to 1% in October year-on-year from 0.8% in September, the statistics department said on Tuesday.The post Sri Lankan inflation rises to 1% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By C. A. Chandraprema The judgement delivered by a divided five-member bench of the Supreme Court with regard to two fundamental rights cases numbered 195/2022 and 212/2022 filed by several individuals including Mahim Mendis, Chandra Jayaratne, Julian Bolling and the NGO Transparency International has stirred up a political storm. The majority judgment was delivered by […]
by Ahilan Kadirgamar Sri Lanka is going through its worst economic crisis since the 1930s, and the stabilisation policies of the Government could drastically change the political economic landscape of the country. Amidst these changes underway, education more broadly and the university system in particular, have come under considerable strain. In this column, I analyse […]
Budget 2024 is like a fairy tale rather than a pragmatic solution to pressing economic issues, SLPP MP Dr. Nalaka Godahewa has said. Taking part in the current budget debate, former State Minister said: “Two paramount challenges loom large—the persistent economic contraction and the escalating national debt. A practical budget should provide answers to these […]
[…]The post Target 2048 Requires Sri Lanka To Develop A Viable Creative Capital Base appeared first on Colombo Telegraph.
[…]The post Still, The Mirage appeared first on Colombo Telegraph.
Macksons Tiles Lanka (Macktiles), Sri Lanka’s largest tile manufacturer, is positive about the Sri Lankan economy and believes this is the time to uplift local industries. “We always believed that there is victory in adversity and this is the time we must show our commitment by doing
[…]The post Greenwashing Bond Scams & Financializing Mother Nature: Climate Science Fiction Versus Local Realities appeared first on Colombo Telegraph.
Sri Lanka expects to receive the second installment of the loan provided under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) in December, 2023.The post Sri Lanka expects second tranche of IMF loan in December appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Restoring The Dignity Of Sri Lankan Cricketers appeared first on Colombo Telegraph.
Sri Lankan government had shared the details and the conditions of the 4.2 billion dollar debt deal with China with other creditors, Governor of the Central Bank Dr. Nandalal Weerasinghe told Bloomberg.Governor Weerasinghe expressed optimism about restructuring Sri Lanka’s debt through the official creditors committee, aiming to secure IMF support for a 330 million dollar […]
Sri Lanka’s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors a key sticking point with countries like India paving the way for more loans from the International Monetary Fund.The post Sri Lanka gives China deal details, keeping IMF aid on track appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
A heightened emphasis on lending has seen the Commercial Bank Group increase gross loans and advances by Rs 51.404 billion in the third quarter of 2023 at a monthly average of Rs 17.135 billion, growing its loan book by 4.33% over three months to Rs 1.239 trillion and reversing the trend of the first half […]