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[…]The post IMF Must Become More Than Just A Debt Collector For Private Creditors appeared first on Colombo Telegraph.
Sri Lanka’s economic crisis is deepening with unsustainable debt and a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic and debt restructuring and the implementation of a deep reform program are critical for Sri Lanka’s economic stabilization, says the World Bank in its twice-a-year update, underscoring the need for Sri Lanka to build resilience.The post Debt res...
The World Bank warned that Sri Lanka’s economic crisis is deepening with unsustainable debt and a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic. Debt restructuring and the implementation of a deep reform program are critical for Sri Lanka’s economic stabilization, says the World Bank in its twice-a-year update, […]
September tourist arrivals have plunged to lowest in 11 months.
Sri Lanka's central bank is likely to maintain interest rates on Thursday in an effort to get a grip on inflation which has remained stubbornly high despite a sharp contraction in the crisis-hit economy.The post Sri Lanka Central Bank to hold rates as inflation worries persist appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
A key measure of Sri Lanka's consumer inflation surged to an annual record 69.8% in September, official data showed on Friday, highlighting the challenge for the central bank as the island reels under its worst financial crisis in seven decades.The post Sri Lanka’s key inflation rate surges
Unlike the financial crisis of 2008, the economic levers alone were insufficient to stimulate global economic recovery in 2022 as what had led to the current crisis was the consequences of evolving geopolitics, President Ranil Wickremesinghe said on Thursday at the ADB’s 55th annual meeting. “
Wickremesinghe says Sri Lanka is taking some painful reforms to come out of economic crisis
The Asian Development Bank (ADB) is ready to provide further financial support to Sri Lanka, a top official of the regional lender said on Tuesday, as the Indian Ocean nation battles its worst economic crisis in more than seven decades.The post Asian Development Bank vows more help for crisis-hit Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Appellants Asked To Give Affidavits To The RTI Commission As First Step To Prosecution Under RTI Act appeared first on Colombo Telegraph.
BY Consultant Family Physician, Dr. S. Kumaran, and Viduni Basnayake This article describes the experiences of a novel, evidence-based approach that involves patients, and their family members, in delivering health care, providing medical education, and conducting research, at a primary care institution, called a Family Health Care Centre. The Northern Province, in Sri Lanka, is […]
The Global Tamil Forum (GTF) has called for a strong resolution on Sri Lanka at the UN Human Rights Council (UNHRC) in Geneva. Issuing a statement, the GTF said that for the Tamil people who have suffered enormously during the war, and indeed for the victims of human rights violations from all communities who are […]
Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.The post Sri Lanka’s economy shrinks 8.4
Financial advisory group Lazard (LAZ.N) has started talks with India, China and Japan on restructuring Sri Lanka's debt, a spokesman for the Sri Lanka government said on Tuesday, as the crisis-hit island nation seeks an International Monetary Fund (IMF) bailout.The post Lazard in talks with China, India, Japan on Sri Lanka debt appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka -...
In 2021, the government paid 86 cents as salaries and pension payment to public servants from every rupee it earned.
Sri Lanka should improve human rights and strengthen institutions to tackle the humanitarian challenges that have sprung from its worst financial crisis in seven decades, a top U.N. Human Rights official said on Monday.The post U.N. presses Sri Lanka to advance human rights amid economic crisis
By R. R. M. Lilani The International Monetary Fund (IMF) condition of pressuring creditors to restructure their loans awarded to Sri Lanka has not yet taken effect, with China remaining silent on the issue, and the IMF bailout discussions still remains at the staff level of agreement. There is also a stalemate over the IMF […]
By Easwaran Rutnam The United States (US) today called on China to help Sri Lanka restructure its massive debt. Visiting USAID Administrator Samantha Power told reporters in Colombo that it is imperative that all of Sri Lanka’s creditors, most notably China, corporate in the process openly. “When debt becomes unsustainable as it so clearly has […]
By Uditha Devapriya Sri Lanka’s economic woes have not cast a shadow over its complex foreign relations. On August 16, the southern port of Hambantota welcomed the Yuan Wang 5, a research vessel from China. While Colombo had asked for a deferral of the visit, it eventually relented and allowed the ship to dock until […]
IMFLoans! But 37 state ministers
For the first time in parliamentary history, the Central Bank of Sri Lanka has issued a dire warning to Parliament and political parties therein over the responsibility on their part to ensure financial stability and discipline. Their failure to do so would trigger public protests again, they were told. There hadn’t been such a public […]
Sri Lanka's Foreign Minister Ali Sabry said on Monday a constitutional amendment bill trimming presidential powers is expected to become law in a couple of weeks.The post Sri Lanka bill to trim president’s powers likely to become law within weeks – Minister appeared first on ONLANKA News :. Sri Lanka Latest Breaking News Updates - Sri Lanka News.
Foreign Minister Ali Sabry says a constitutional amendment bill trimming presidential powers is expected to become law in a couple of weeks. “The new amendment will reduce presidential powers and bring back participatory governance,” Sabry told reporters at the foreign ministry. The bill, which will require a two-thirds majority in the house to become law, […]
[…]The post End Casino Capitalism: Sri Lanka To Join The Global Minimum Tax Agreement appeared first on Colombo Telegraph.
Sources close to Rajapaksa say he will not involve in active politics again
By Shamindra Ferdinando The Sri Lanka Institute of Directors (SLID) and Transparency International Sri Lanka (TISL) recently declared corruption as the root cause of Sri Lanka’s current political and economic crisis. The declaration was made in a statement titled, “SLID and TISL launch ‘Business Against Corruption’ Initiative” issued to the media after the two organisations […]
[…]The post Central Bank Independence: Issue To The Fore Again, But Will The Government Have Foresight To Do It? appeared first on Colombo Telegraph.
Sri Lanka's president is set to slash expenditure when he presents an interim budget on Tuesday to see the crisis-ridden country through the rest of the year, amid discussions with the International Monetary Fund on a bailout package.The post Sri Lanka’s president to cut spending in interim budget appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
Another round of discussions with the International Monetary Fund, with the aim of finding solutions to the financial crisis facing Sri Lanka, was held last Wednesday (24) at the President’s Office under the patronage of President Ranil Wickremesinghe.President Wickremesinghe joined the meeting via
Industry experts say 70% of government construction projects are on hold now.