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IMF has shown the way and now Sri Lanka has to dig itself out of the mess, says Governor by Sanath Nanayakkare Central Bank Governor Dr. Nandalal Weerasinghe recently said that Sri Lanka needs to build and keep a ‘comfortable level’ of currency reserves in order to maintain the country’s balance-of-payments situation in the event […]
Sri Lanka expects China to support its effort to restructure debts and help it begin repaying its obligations, according to the nation’s central bank governor.The post China will support Sri Lanka’s debt rework, says CBSL governor appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Japan, India and France are scheduled to hold a press briefing on Thursday (13 April) to announce the launch of the debt restructuring negotiation process on Sri Lanka.The post Japan, India and France to announce Sri Lanka’s debt restructuring negotiation process appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Asian Development Bank is considering more concessionary funding for Sri Lanka and support for green bond issues as part of its assistance to help the South Asian nation recover from its worst economic crisis in decades.The post Asian Development Bank eyeing cheaper funds for Sri Lanka, green
The Asian Development Bank is considering more concessionary funding for Sri Lanka and support for green bond issues as part of its assistance to help the South Asian nation recover from its worst economic crisis in decades.
Sri Lanka’s sovereign lenders have yet to inform the government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the central bank governor told Reuters in an interview on Tuesday.The post Sri Lanka central bank chief says sovereign lenders yet to outline debt talks plans appeared first on Sr...
The UK is set to be one of the worst performing major economies in the world this year, according to the International Monetary Fund (IMF). It says the UK economy’s performance in 2023 will be the worst among the 20 biggest economies, known as the G20, which includes sanctions-hit Russia. The IMF predicts the UK […]
The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva, has called for a united effort to resolve the crisis in Sri Lanka. She also said that the IMF will support Sri Lanka at this difficult time. Her comments came following a meeting with a delegation from Sri Lanka
Bill titled ‘Central Bank of Sri Lanka’: By Shamindra Ferdinando Speaker Mahinda Yapa Abeywardena made the following announcement immediately after the opening of Parliament on April 04, 2023. The Speaker declared: “I wish to make an announcement in respect of the Bill titled ‘Central Bank of Sri Lanka.’ The court has determined that none of […]
Sri Lanka’s sovereign lenders have yet to inform the Government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the Central Bank Governor told Reuters in an interview on Tuesday. The island nation aims to formally engage […]
U.S. Treasury Secretary Janet Yellen will push this week for urgent resolution of requests by Zambia and Ghana for restructuring of their sovereign debts, and moves to conclude a debt treatment for Sri Lanka, U.S. Treasury said on Monday.The post U.S. Treasury Secretary to push for moves to conclude debt treatment for Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka -...
By Shamindra Ferdinando The International Monetary Fund (IMF) owed an explanation as regards the recent government declaration that domestic debt restructuring was part of the programme implemented in terms of Sri Lanka’s agreement with the lending agency, top Opposition spokesperson Prof. G.L. Pieris, MP said yesterday (10). Having repeatedly assured that domestic debt wouldn’t be […]
‘There will be no rapprochement between SLPP and dissidents’ By Shamindra Ferdinando Pivithuru Hela Urumaya (PHU) leader and MP Udaya Gammanpila has denied reports that he had talks with former President Mahinda Rajapaksa, MP, recently.Gammanpila rejected as baseless a claim that he had discussed with Rajapkasa the IMF bailout and the move to privatise profit-making state […]
[…]The post The Role Of National Defence In A Crisis-Ridden Economy appeared first on Colombo Telegraph.
To tackle the enormous economic challenge that Sri Lanka is facing, everyone must come together to support the recovery and promote stable and inclusive growth, says the International Monetary Fund (IMF) Senior Mission Chief for Sri Lanka Peter Breuer.The post Everyone must come together to support Sri Lanka’s recovery and inclusive growth – IMF appeared first on Sri Lanka News - Lates...
[…]The post Anti-Terrorism Act To Prevent System Change appeared first on Colombo Telegraph.
Zambia [Africa], March 21 (ANI): Zambia is facing an unsustainable debt burden, and debt servicing is leaving little room for capital formation, especially funds needed for infrastructure development, reported Africa Daily Digital. While the country is struggling to take up World Bank-suggested reforms such as restoring fiscal and long-term debt sustainability, increasing farmers’ productivity and...
Y P Prakash China is making a comeback in Sri Lanka. First, it gave its consent on conditionalities for the IMF to lend money to the island nation and now reports indicate that China’s Sinopec has pledged to invest in Sri Lanka’s southern district of Hambantota. While Sri Lanka’s experience of Chinese investments has been […]
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.
SC determination on ‘Central Bank of Sri Lanka’ Bill: By Shamindra Ferdinando Opposition lawmaker Gevindu Cumaratunga yesterday (06) has asked whether Speaker Mahinda Yapa Abeywardena and Parliament sought to mislead members of the House with regards to the Supreme Court determination on the ‘Central Bank of Sri Lanka’ Bill. Addressing the media on behalf of […]
[…]The post Janatha Aragalaya: The People’s Struggle In Sri Lanka appeared first on Colombo Telegraph.
Sri Lanka’s economy is projected to contract further in 2023 before it begins a gradual recovery in 2024, as the country navigates an unprecedented economic crisis, the Asian Development Bank (ADB) said in its annual flagship economic publication, the Asian Development Outlook (ADO) April 2023
Turn this crisis into an opportunity – ADB By Sanath Nanayakkare Sri Lanka will have no second chance if this time it forgets why it took the Extended Fund Facility from the IMF and goes back to doing things that create fiscal imbalances, like in the past 16 programs with the IMF, Central
Sri Lankan economy is projected to contract by 4.3 percent in 2023 as demand continues to be subdued, job and income losses intensify, and supply-side constraints adversely affect production, the World Bank announced on Tuesday. Sri Lanka’s heightened fiscal, external, and financial imbalances and its fluid political situation pose significant uncertainty for the country’s economic [&#...
Sri Lanka s economy, which is grappling with a debt and balance of payment crisis, is expected to shrink by 3% this year after a 7.8% contraction in 2022, the Asian Development Bank (ADB) says.
crisis and build a strong and resilient economy to prevent future crises.The post Timely, credible struct...
Sri Lanka's central bank kept interest rates steady on Tuesday and expressed optimism that prices would decelerate sharply in the coming months, in its first policy decision since securing a $3 billion bailout from the International Monetary Fund.The post Sri Lanka central bank holds rates, sees sharp drop in inflation appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA ...
By Shamindra Ferdinando All Ceylon Buddhist Congress (ACBC) recently launched an inquiry into what it called a state of anarchy prevailing in the country. An Independent Commission set up by ACBC has initiated a comprehensive probe in a bid to establish the circumstances leading to the eruption of public protests against President Gotabaya Rajapaksa and […]
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 approves IMF agreement, the main points will be passed into law – Sri Lanka President appeared...
President Ranil Wickremesinghe has established a committee to oversee the utilisation of the credit facility provided by the International Monetary Fund (IMF).The committee, which comprises President’s Chief of Staff Sagala Ratnayaka, Treasury Secretary Mahinda Siriwardena, Central Bank Governor Dr. Nandalal Weerasinghe, and a group of experts. The Committee will operate subject to the CabinetR...