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The International Monetary Fund (IMF) has reaffirmed its support for Sri Lanka at this difficult juncture.
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...
The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva, has called for a united effort to resolve the crisis in Sri Lanka. She also said that the IMF will support Sri Lanka at this difficult time. Her comments came following a meeting with a delegation from Sri Lanka
IMF assistance should be considered a temporary solution and must be supplemented with the implementation of sound and sustainable policies. Moreover, all political parties need to take a moderate and sensible approach that will ensure a long term recovery, the Chamber of Young Lankan Entrepreneurs (COYLE) said in a press release. The release: ‘The Chamber […]
By Easwaran Rutnam The Finance Ministers of Japan, and India are to announce the launch of the debt restructuring negotiation process on Sri Lanka. The announcement is to be made at a press briefing tomorrow (Thursday) on the sidelines of the Spring Meetings in Washington. Japanese Minister of Finance Shunichi Suzuki, Vice Minister of Finance […]
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 proposed Anti-Corruption Bill contains several laudable provisions, but poses a threat to the Right to Information Act, Transparency International Sri Lanka (TISL) said. The proposed Anti-Corruption Bill, which seeks to replace the Bribery Act (Chapter 26), the Commission to Investigate Allegations of Bribery or Corruption Act No. 19 of 1994, and the Declaration of […]
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.
The World Bank and the International Monetary Fund (IMF) had talks with Sri Lanka on the country’s economic reform agenda. The discussion took place during the ongoing visit to Washington by State Minister of Finance Shehan Semasinghe to attend the World Bank and IMF Spring Meetings. World
U.S. Treasury Secretary Janet Yellen will push this week for urgent resolution of requests by Zambia and Ghana for restructuring of their sovereign debts, and moves to conclude a debt treatment for Sri Lanka, U.S. Treasury said on Monday.The post U.S. Treasury Secretary to push for moves to conclude debt treatment for Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka -...
By Shamindra Ferdinando The International Monetary Fund (IMF) owed an explanation as regards the recent government declaration that domestic debt restructuring was part of the programme implemented in terms of Sri Lanka’s agreement with the lending agency, top Opposition spokesperson Prof. G.L
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
State Minister of Finance Shehan Semasinghe will lead a delegation from Sri Lanka for the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) which will take place from April 10 to 16 in Washington, DC. President Ranil Wickremesinghe has assigned Semasinghe
State Minister of Finance Shehan Semasinghe will be representing Sri Lanka in the Spring Meetings with the International Monetary Fund (IMF) and the World Bank which is scheduled to be held from April 10th, in Washington DC, the Ministry of Finance, Economic Stabilization and National Policies
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 Government has gazetted a new anti-corruption bill after the International Monetary Fund (IMF) approved a 2.9 billion US dollar loan which required the crisis-hit nation to address corruption vulnerabilities. According to the gazette published on Thursday (April 06) on the order of Justice
The United States (US) says it is hopeful after China agreed to restructure Sri Lanka’s debt. US Treasury Secretary Janet Yellen said that China’s decision to participate in restructuring Sri Lanka’s debt was a hopeful sign. ‘We have seen some movement by China on participating in debt restructuring for Sri Lanka, which is a hopeful […]
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.
International Monetary Fund chief Kristalina Georgieva says China had been helpful in reaching a debt relief deal for Sri Lanka. Georgieva also said she told China’s new top economic official, Li Qiang, that China must accelerate its work to reach debt restructuring agreements for countries
The Central Bank said on Tuesday it had decided to maintain its Standing Deposit Facility Rate and Standing Lending Facility Rate at the current level of 15.50 percent and 16.50 percent, respectively. Its Monetary Board made the decision after considering recent and expected developments related to both the domestic and global economy as well as […]
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 ...
The Central Bank of Sri Lanka has decided to continue with its tight monetary policy. The Monetary Board of the Central Bank of Sri Lanka decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 15.50 per cent and 16.50 […]
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 [&...
Sri Lanka is determined not to seek the assistance of the International Monetary Fund (IMF) for the 18th time. President Ranil Wickremesinghe said that the latest agreement with the IMF will be tabled in Parliament for a vote. “First and foremost, it is anticipated that the agreement
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.
President Ranil Wickremesinghe has established a committee to oversee the utilisation of the credit facility provided by the International Monetary Fund (IMF).The committee, which comprises President’s Chief of Staff Sagala Ratnayaka, Treasury Secretary Mahinda Siriwardena, Central Bank Governor Dr
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 […]
President Ranil Wickremesinghe warned that no one will be allowed to stage violent street protests and breach law and order in the country. He emphasized that he will prioritize doing what is right over doing what is popular, and that presenting popular ideas can lead to the destruction of the country. President Ranil Wickremesinghe said […]