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By R. R. M. Lilani After pledging to renegotiate its debt to Sri Lanka, China is back on track. Besides, since Sri Lanka urgently needs China to restructure its USD 7 billion debt to the country, Sri Lanka has vowed to support the dragon at this juncture by conceding to its demands. High-ranking Chinese VIPs […]
Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades.The post Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
Sri Lanka's National Consumer Price Index (NCPI) (LKNCPI=ECI) eased to 49.2% year-on-year in March, after a 53.6% rise in February, the statistics department said on Friday.The post Sri Lanka consumer inflation dips to 49.2% year-on-year in March appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Economists sharply cut Sri Lanka’s growth outlook through this year as curbs on imports and still-limited reserves persist even as the International Monetary Fund releases bailout loans and authorities work toward debt restructuring efforts.The post Sri Lanka GDP outlook slashed as economy
Economists sharply cut Sri Lanka s growth outlook through this year as curbs on imports and still-limited reserves persist even as the International Monetary Fund releases bailout loans and authorities work toward debt restructuring efforts.
[…]The post Taxes, Swiss Bank Accounts & The Chinese Cafe appeared first on Colombo Telegraph.
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.
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...
Sri Lanka’s sovereign lenders have yet to inform the Government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the Central Bank Governor told Reuters in an interview on Tuesday. The island nation aims to formally engage […]
The 48-month extended arrangement under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) will be taken up for debate in the parliament from April 25, says Sagala Ratnayake, the Chief of Staff to the President and Senior Adviser on National Security.
To tackle the enormous economic challenge that Sri Lanka is facing, everyone must come together to support the recovery and promote stable and inclusive growth, says the International Monetary Fund (IMF) Senior Mission Chief for Sri Lanka Peter Breuer.The post Everyone must come together to support
Sri Lanka's national carrier has been struggling against even more headwinds than many of its rivals.The post Sri Lanka airline boss says ‘don’t be a CEO during Covid’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Workers’ remittances to Sri Lanka crossed the US$ 500 million mark for the first time since April 2021, data released by the Central Bank last evening showed.The post Migrant workers’ remittances record sharp increase in March appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
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
The Amnesty International has expressed serious concerns over the proposed enactment of new Anti-Terrorism law. In its end of mission statement, AI Senior Director Deprose Muchena, who led the delegation said that any anti-terrorism legislation should be in line with international human rights law. The Opposition here and international organisations including International Commission of Jurists [&...
The Sri Lankan government is seeking Russian cooperation in multiple sectors, namely, tourism, air traffic, and locomotive construction, besides eyeing crude from Moscow.The post Sri Lanka mulls buying Russian oil & fertilizers appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Some in the international community have chosen to turn a blind eye to the urgent human rights challenges in Sri Lanka, Amnesty International said today. An end of mission statement by a delegation to Sri Lanka led by Deprose Muchena, Senior Director for regional human rights impact at Amnesty International said that many actors including […]
India and Japan have jointly agreed to cooperate with Sri Lanka to bolster regional connectivity in the strategic Indo-Pacific, a media report said on Friday, amid China’s aggressive military manoeuvring in the resource-rich region.The post India, Japan join hands with Sri Lanka to bolster regional connectivity in Indo-Pacific region appeared first on Sri Lanka News - Latest Breaking News in Sri L...
Sri Lanka has a final opportunity to progress and it is imperative for everyone to collaborate in creating a prosperous community for future generations, without resorting to finger-pointing, emphasized President Ranil Wickremesinghe.The post Sri Lanka President says ‘this is our last chance to forge ahead’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA ...
China on Thursday called remarks by U.S. Treasury Secretary Janet Yellen "irresponsible" and "unreasonable" after Yellen said Beijing's lending activities leave developing countries "trapped in debt."The post China calls U.S. debt trap accusation ‘irresponsible’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The United States and Sri Lanka today discussed ongoing reforms as part of the deal between the International Monetary Fund (IMF) and Sri Lanka. The US Ambassador to Sri Lanka Julie Chung met Foreign Minister Ali Sabry and discussed US support for the ongoing reforms. Chung
Sri Lankan President Ranil Wickremesinghe emphasized during an interview organized by Harvard University on the 24th, through Zoom technology, that Sri Lanka’s access to the growing Indian and African markets should not be disrupted by any big power rivalry or conflictThe post Sri Lanka’s access to growing Indian & African markets cannot be disrupted – President Ranil appeared fir...
ECONOMYNEXT – Sri Lanka is projected to lend 2,533 million US dollars mainly to the US and Euro areas during an International Monetary Fund deal in 2023 including a mandatory 1.4 billion US dollars collected from exports and remittances, according to official documents. Sri Lanka is expected
The International Monetary Fund (IMF) bailout will help bring Sri Lanka’s depleted foreign exchange reserve to pre-crisis levels in four years, said the country’s central bank governor.The post With IMF bailout, Sri Lanka will have healthy dollar reserves in 4 years – Central Bank Governor
The International Monetary Fund (IMF) bailout will help bring Sri Lanka s depleted foreign exchange reserve to pre-crisis levels in four years, said the country s central bank governor.
The Opposition Samagi Jana Balawegaya (SJB) today denied allegations linked to its talks with foreign diplomats based in Colombo. SJB Leader Sajith Premadasa denied claims that the SJB had attempted to block the loan from the International Monetary Fund (IMF) to Sri Lanka. He said the SJB
Sri Lanka will kick off the next round of talks with creditors in the third week of April, President Ranil Wickremesinghe said on Wednesday, adding that the debt-stricken nation has started to receive funds from the International Monetary Fund.The post Sri Lanka to start next round of talks with creditors in April appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
President Ranil Wickremesinghe urged the Opposition to unite and disregard political differences to assist in carrying out the agreement with the International Monetary Fund (IMF). The President emphasized that his duty is not to condemn previous administrations but to concentrate