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[…]The post Restructuring The Economy: A Stock Take appeared first on Colombo Telegraph.
Sri Lanka's key inflation rate eased to 35.3% in April from 50.3% in March, the statistics department said on Friday, a sign of relief for the crisis-battered economy.The post Sri Lanka’s key inflation rate eases to 35.3% in April appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
[…]The post Privatization Of Defence Sector Enterprises For Alleviating Economic Crisis appeared first on Colombo Telegraph.
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
Sri Lanka is trying to reduce its overall debt by $17 billion through restructuring, its president told the parliament on Wednesday as he sought support of opposition parties for a nearly $3 billion International Monetary Fund (IMF) programme.The post Sri Lanka trying to reduce overall debt by $17 Billion, president says appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
Sri Lanka is caught up in the China-Quad battle. The Indian participation in the ‘Quad’ project has further complicated matters for Sri Lanka. President Gotabaya Rajapaksa’s ouster, last July, following a US-backed protest campaign that overwhelmed the seemingly invincible administration, underlines the urgent need for a thorough examination of external interventions. By Shamindra Ferdinando The [...
[…]The post IMF, ATA & RW’s Consolidation appeared first on Colombo Telegraph.
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.
Bangladesh has extended the repayment period of the loan it had given to Sri Lanka by six more months as the Island nation continues to struggle to fix its debt crisis, officials say. Earlier, the central bank of Sri Lanka had sought time from Bangladesh to make the first instalment of the $200 million credit […]
[…]The post IMF Forecasts & Systemic Crisis appeared first on Colombo Telegraph.
A committee of Sri Lanka’s international private creditors sent its first debt rework proposal to the country’s authorities regarding over $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter.The post Sri Lanka’s bondholders send debt rework proposal to government appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
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 […]
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 post Anti-Terrorism Act To Prevent System Change appeared first on Colombo Telegraph.
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 ...
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 Lankans are hopeful that a new employment scheme with Saudi Arabia will help ease their country’s economic crisis, professionals and labour officials told Arab News, as they expect it to boost the nation’s manpower exports to the Kingdom.The post New employment scheme with Saudi Arabia sparks hope among Sri Lankan workers appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - O...
There are three most important priorities for Sri Lanka in the wake of the IMF Programme; implementation, implementation and implementation of the agreed upon benchmarks of the programme. Last thing we need to suddenly find is that we have gone off the track of the programme and it is suspended, Dr. Indrajit Coomaraswamy, Former Governor, Central Bank of Sri Lanka said on Friday.The post Sri Lanka...
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.
By Shamindra Ferdinando The Japanese embassy and UNICEF (United Nations Children’s Fund, previously known as United Nations International Children’s Emergency Fund), on 16 March, 2023, issued a joint statement that dealt with the impact the developing political-economic-social crisis is having on the poor in Sri Lanka. The statement focused on the suffering of the children […]
Ambassador Palitha Kohona was invited as the guest speaker at the China International Gem and Jewelry Exhibition in Beijing on March 16 attended by many Chinese dignitaries and specialists in the gem and jewelry field. Those present included former Minister of the Ministry of Geology and Mineral Resources and President of Gems & Jewelry Trade […]
[…]The post Failing Banks, French Turmoil & Sri Lanka’s Contraction & Confusion appeared first on Colombo Telegraph.
India says under its ‘Neighbourhood First’ policy it has always come forward to help debt-ridden Sri Lanka, and in the latest instance New Delhi has distributed rations in Kalmunai. Taking to Twitter, the High Commission of India in Colombo said, “Support by @IndiainSL to needy sections continues!! Glimpses of ration distribution in Kalmunai.” The cash-strapped […]
Sri Lanka will introduce new central bank legislation aimed at bolstering the bank's independence, accountability and also price stability in the country via a new inflation target, its governor Nandalal Weerasinghe said on Thursday.The post Sri Lanka to introduce new central bank law, inflation target appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s economy shrank 7.8% in 2022 from the previous year, government data showed on Wednesday, as the country struggled with its worst financial crisis in more than seven decades.The post Sri Lanka’s Economy suffers worst contraction in 2022 appeared first on Sri Lanka News
Sri Lanka s economy shrank 7.8% in 2022 from the previous year, government data showed on Wednesday, as the country struggled with its worst financial crisis in more than seven decades.
Public employees at Sri Lanka's ports, hospitals, schools, and railways went on strike on Wednesday to protest against high costs of living as the country struggles to recover from a severe financial crisis.The post Sri Lanka’s public workers strike to press for lower taxes, power bills appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
By Shamindra Ferdinando President Ranil Wickremesinghe, who is also the Finance Minister, recently named three persons – all women -whose intervention supposedly brought relief to bankrupt Sri Lanka. UNP leader Wickremesinghe paid glowing tributes to Indian Finance and Corporate Affairs Minister Nirmala Sitharaman, US Secretary of State Janet Yellen, and IMF Managing Director and Chairman [&...