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Sri Lanka has accepted offers to exchange about $10 billion worth of defaulted local debt for new bonds, the Finance Ministry said on Tuesday, taking it a step towards meeting debt restructuring requirements ahead of an International Monetary Fund (IMF) review.The post Sri Lanka announces $10
Sri Lanka has accepted offers to exchange about $10 billion worth of defaulted local debt for new bonds, the Finance Ministry said on Tuesday, taking it a step towards meeting debt restructuring requirements ahead of an International Monetary Fund (IMF) review.
International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Sunday called on the G20 members to lead by example and deliver on the promises of $100 billion per year for climate finance supported by strengthening the Multilateral Development Banks. Speaking at the conclusion
[…]The post Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-Sonic’? appeared first on Colombo Telegraph.
World leaders have been gathering in India ahead of a G20 summit between nations that are divided on many issues, the biggest being the war in Ukraine following Russia’s invasion. On Friday evening US President Joe Biden met his host, Indian Prime Minister Narendra Modi, with the leaders pledging cooperation in a raft of areas. […]
Sri Lanka expects to forge major deals in its debt restructuring this month as the International Monetary Fund conducts the first review of its $3 billion loan program.The post Sri Lanka Expects Major Debt Restructuring Deals as IMF to Review Bailout appeared first on ONLANKA - Sri Lanka
Singaporeans have chosen Tharman Shanmugaratnam as their next president – but many would have let out a small sigh of disappointment as they did so. On Friday, the former top minister won a record 70.4% of the votes, comfortably beating two other candidates in the country’s first contested presidential election in more than a decade. […]
Sri Lanka's key inflation rate eased to 4% in August from 6.3% a month ago, the statistics department said on Thursday, marking continued stabilisation for the crisis-ridden economy.The post Sri Lanka’s key inflation rate eases to 4% in August appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
H.J.M Seneviratne, 63, slices through yellowed paddy stems dried out by a drought that has destroyed over 95% of his crop and is threatening crisis-hit Sri Lanka's summer rice harvest.The post Drought dents Sri Lanka’s economic hopes, farmers’ livelihood appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
KARACHI: Pakistan’s total debt and liabilities rose by 29 percent to Rs77.1 trillion in the fiscal year that ended on June 30, the central bank said on Wednesday, as the government borrowed heavily to finance its spending requirements. At the end of the last fiscal year, the country’s debt and liabilities, including domestic and foreign, […]
Islamabad [Pakistan], August 17 (ANI): Pakistan’s total debt and liabilities have risen by 29 per cent to Rs 56.21 trillion in the fiscal year that ended on June 30, the country’s central bank said on Wednesday. This comes as the government borrowed heavily to finance its spending requirements, as per Dawn. Pakistan’s debt and liabilities […]
China has requested permission for a research ship to dock in Sri Lanka, Colombo said Tuesday, following a visit by a spacecraft-tracking vessel last year that sparked security concerns from neighbouring India. Sri Lankan foreign ministry spokeswoman Priyanga Wickramasinghe said Beijing had sought permission for the Shi Yan 6 to dock, but that no date […]
Sri Lanka’s consumer inflation rate more than halved to 4.6% year-on-year in July, helped by falling food prices, the statistics department said on Monday.The post Sri Lanka’s July consumer inflation more than halves to 4.6% appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Registered tax files 500,000, only 31,000 pay personal tax Proposed amendments to Sri Lanka’s Inland Revenue Act will serve to address purported under performance of Inland Revenue Department (IRD) officials in a bid to enhance income tax collection, Government MP Mahindananda Aluthgamage said, noting that there is only one person in the country who pays […]
Government authorities must consult vehicle importers when making decisions on relaxing an ongoing import ban, President of the Vehicle Importers’ Association Indika Sampath Merinchige said. Welcoming a recent announcement by the government that it will scrap an import ban on several types of commercial vehicles, Merinchige told reporters on Monday August 14 that the authorities […]
Sri Lanka expects the first review by the International Monetary Fund (IMF) in September to be successful. State Minister of Finance Shehan Semasinghe said that the IMF will assess the programme’s performance until the end of June. “We welcome the IMF team in Sri Lanka
. The International Monetary Fund (IMF) is set to conduct its first review […]
An International Monetary Fund (IMF) staff team will visit Colombo in a month's time for the first review on Sri Lanka's loan programme, a spokesperson said on Tuesday.The post IMF staff to visit Sri Lanka in September for first programme review appeared first on ONLANKA - Sri Lanka Latest Breaking
An International Monetary Fund (IMF) staff team will visit Colombo in a month’s time for the first review on Sri Lanka’s loan programme, a spokesperson said. The Washington-based lender approved a nearly US$3 billion bailout for crisis-hit Sri Lanka in March. The Asian island
The IMF will conduct the first review of the $2.9 billion bailout to Sri Lanka from September 11-19, state minister of finance Ranjith Siyambalapitiya said on Saturday and declared that the country has successfully fulfilled the nine conditions set by the global lender.The post IMF to conduct bailout review for Sri Lanka in September appeared first on ONLANKA - Sri Lanka Latest Breaking News and T...
Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the governor of the country's central bank, Nandalal Weerasinghe, said at a LSEG FX Community Event on Monday.The post Sri Lanka central bank chief: monetary policy transmission still incomplete appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? appeared first on Colombo Telegraph.
Land connectivity is essential for the growth of ties between India and its neighbouring country, Sri Lankan high commissioner to India Milinda Moragoda has said in an interview with The Hindu posted online on July 31, pitching for connectivity projects resembling the “Channel tunnel” from the U.K. to Europe as a possible future initiative if […]
Sri Lanka on Saturday invited Japan to resume investment in projects including power, roads and ports as the Japanese foreign minister wrapped up the first high-level visit to the crisis-hit country in nearly four years.The post Crisis-hit Sri Lanka invites Japan to resume investment appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Minister of Foreign Affairs of Japan, HAYASHI Yoshimasa is to hold crucial discussions during an official visit to Sri Lanka from 28-29 July 2023. During the visit, the Japanese Foreign Minister is scheduled to have official discussions with Minister of Foreign Affairs Ali Sabry at the Ministry and pay courtesy calls on President Ranil Wickremesinghe […]
By Rathindra Kuruwita Annual elephant deaths have increased fourfold by this year, compared to 1969, according to official data, environmentalists say. Sajeewa Chamikara of the Movement for Land and Agricultural Reform (MONLAR) has said the number of elephants killed in the 19 years from 1951 to 1969 was 1,163. This works out to about 61 […]
Islamabad [Pakistan], July 19 (ANI): Beyond the upcoming election cycle and the current standby agreement, Pakistan needs another International Monetary Fund (IMF) program and assistance from other multilateral lenders, the lender stated in a report released on Tuesday, according to Dawn
Sri Lanka's parliament on Thursday (July 20) approved a new law to improve the independence of the country's central bank, the deputy speaker said, as part of reforms linked to a $2.9 billion International Monetary Fund bailout package.The post Sri Lanka parliament approves bill to boost central
There is bad news for Beijing from Colombo. President of Sri Lanka Ranil Wickremesinghe has announced that his government will not allow the island nation to be used as a base for threats against India. He has also emphasized that Sri Lanka is a neutral country and has no military agreements with China. In an […]
In response to a severe debt crisis, the Sri Lankan government is taking prompt action to address the situation. One of the key measures being taken is the expediting of Free Trade Agreement (FTA) negotiations with China. Alongside this, Sri Lanka has expressed a strong interest in joining the Regional Comprehensive Economic Partnership (RCEP), which […]