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Rate hike, fuel shortage, and looming political crisis weighed on investor sentiment
Some analysts said the market was expecting a 300 basis point rate hike on Thursday
The Government is preparing a new budget taking into account the measures proposed by the International Monetary Fund (IMF) to restore debt sustainability in Sri Lanka. Foreign Minister, Prof. G.L. Peiris said this during talks with the United Nations Resident Coordinator Hanna Singer-Hamdy at the Ministry of Foreign Affairs. During the discussion, Minister Peiris briefed […]
New Zealanders have been told to avoid non-essential travel to Sri Lanka due to the impacts of the economic crisis and the potential for civil unrest. An updated travel advisory issued by New Zealand today notes: Sri Lanka’s economic situation has deteriorated significantly in recent months. This has led to shortages of such basic necessities, […]
Says economy could contract 7-pct in 2022
Sri Lanka is desperate for foreign currency earnings through tourism
Fuel shortage has led the country almost to a stand still.
The country's dollar shortage has led to power cuts as the government is unable to import diesel for generation
Rehabilitation centre inmates are not considered prisonsers, officials say, though critics claim otherwise.
[…]The post The Financial Crisis – Mismanagement, Fear Or Collusion? appeared first on Colombo Telegraph.
Sri Lanka’s total debt burden increased to Rs 21.6 trillion by March 2022, Prime Minister Ranil Wickremesinghe told Parliament today. He said that Sri Lanka needs to pay $3.4 billion between June and December this year, $5.8 billion in 2023, $4.9 billion in 2024, $6.2 billion in 2025, $4.0 billion in 2026 and $4.3 billion […]
[…]The post Implement President’s Pledges To Revive Economy appeared first on Colombo Telegraph.
Economic activities have significantly slowed down due to fuel shortage.
The Supreme Court has ordered the Attorney General (AG) to submit a report on the purchasing and distribution of fuel. The court has ordered the AG to submit the report before 12th July. The order was given in response to a fundamental rights petition filed in the Supreme Court by the Bar
The Suwa Seriya 1990 emergency ambulance service announced yesterday (July 03) that its patient transfers would be delayed due to lack of fuel.The post Fuel shortage hits Suwa Seriya ambulance...Click on the headline to read the full story
The daily life of the general public is at risk of being further disrupted relative to the last week due to the limitation of transport services as a result of the fuel crisis.
[…]The post Child’s Guide To True Cost Of Activities: Concept Of Opportunity Cost appeared first on Colombo Telegraph.
Sri Lanka is to continue to stand by the ‘one China policy’ and support to protect China’s sovereignty and territorial integrity, the Foreign Ministry said today. The Foreign Ministry said that the assurance was given when the Minister of Foreign Affairs, Professor G.L. Peiris met with the Ambassador of China, Qi Zhenhong, at the Ministry […]
Sri Lanka is facing risk of increased power cut
"With this, we expect to meet our needs without shortages, and also to reduce prices through competition," he said.
IMF has estimated a sharp contraction in the economic growth this year.
Doctors and bankers were among hundreds of Sri Lankans who marched on Wednesday (June 29) to demand the government resolve a severe fuel shortage at the heart of the Indian Ocean island's worst...Click on the headline to read the full story
[…]The post Mission Impossible appeared first on Colombo Telegraph.
Video: Sri Lanka's public transport services in disarray due to fuel shortage (English)
IMF is expected to issue a statement on its discussions with Sri Lankan officials on Thursday.
Sri Lankans are frustrated of waiting in queues for days to buy fuel, cooking gas, kerosene
“We were promised fuel last Friday, but we didn’t get it. At this point. we don’t even have fuel to report to work."
The main stock index has fallen 4.4$% in the last two sessions.
[…]The post System Change Plus Politician Change Through Elections appeared first on Colombo Telegraph.
All Share Price Index fell 1.72 percent or 128.21 points to 7,323.70 at 1135 hours on June 28.