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The International Monetary Fund (IMF) has noted progress in Sri Lanka’s economic reforms program. An IMF mission team led by Messrs. Peter Breuer and Masahiro Nozaki visited Colombo from June 20 to 30, 2022 to discuss IMF support for Sri Lanka and the authorities’ comprehensive economic reform program. Ms. Anne-Marie Gulde-Wolf, Deputy Director of the […]
No staff level agreement yet, creditor assurances needed
Worst crisis in modern times
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The accounts of a famous market analyst on Chinese social media have been deactivated after he highlighted the country’s catastrophic economic downturn and the consequences of government policy on the IT industry in recent weeks, as per the media portal. China has been silencing everyone who speaks either against the country’s stern COVID policies or […]
Isolated and neglected, Pakistan’s Gilgit-Baltistan, the northern-most part of Kashmir under its control, could become a future battle-ground for the world powers to compete. For one, it borders China and local politicians in GB, among them, Chairman of Karakoram National Movement, Mumtaz Nagri has expressed fear that Pakistan may cede GB to China on lease […]
By Anjana Pasricha NEW DELHI — In Colombo, Sri Lanka’s capital, a sprawling port city showcased as a financial hub to rival Dubai is being set up on 269 hectares of land dredged from the sea. It is the latest of the huge Chinese-funded infrastructure projects in the island country that include a port and […]
Dhammika Perera has been backing successive government and held posts in some while running his businesses
The United Kingdom (UK) says it recognises the economic challenges that Sri Lanka is facing. UK Foreign Office Minister Vicky Ford said the UK is closely monitoring the economic situation in Sri Lanka, including foreign exchange data reported by Central Bank of Sri Lanka and Sri Lankan authorities. In a written response to the UK […]
The main stock index has fallen 4.4$% in the last two sessions.
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Agriculture contracted 6.8 percent, industry shrank 4.7 percent but service grew 0.7 percent
After June 28, 2022, aircraft will have to carry their return fuel according to the CA notice to airmen (NOTAM)
The Bar Association of Sri Lanka (BASL) has accused the authorities of misleading the public on the fuel supply. BASL noted that the Minister of Power and Energy held a press conference on 26th June 2022 and the information revealed at this press conference made it clear that the public have been kept in the […]
[…]The post As Our Economy Collapses, Going Green With Solar Energy & Ovens: It Is Fun & The Future appeared first on Colombo Telegraph.
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Monetary meltdown worsens as money printed to keep rates down and pay state worker salaries
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The visitors will meet with a wide range of political representatives, economists, and international organizations
"There is no way we can go ahead with the current public sector. The ideal size is 500,000."
Views of Milton Friedman, Robert Mundel and how John Greenwood and Alan Walters set up the Hong Kong currency board
Currency depreciation inflates an economy and imposes a 'hair cut' on domestic debt by reducing purchasing power
Prime Minister Ranil Wickremesinghe informed Parliament today that Sri Lanka was facing the threat of hitting rock bottom. He also said that going to the International Monetary Fund (IMF) is the only option Sri Lanka has to resolve the economic crisis. The Prime Minister said that the aim of the Government is to hold discussions […]
Beijing [China], June 17 (ANI): Chinese officials are asking the foreign investment banks to share the pay details of senior executives. As per local media, Chinese authorities are enforcing Chinese President Xi Jinping’s “common prosperity” agenda, while another reason could be that large international investment banks have employed many princelings for many years to help […]
Talks will continue over the next few days with an IMF delegation already in the island nation, he said.
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