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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 Lankan President Ranil Wickremesinghe stated that during his presidency, no one will be allowed to breach the law and order of the country.The post Sri Lanka President says he will not tolerate any breach of law and order in the country appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
(Washington, DC) – The government of Sri Lanka should ensure that policies to enhance revenues do not further erode economic and social rights and that anti-corruption reforms provide accountability, Human Rights Watch said on Thursady. On March 20, 2023, the International Monetary Fund (IMF
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.
After the International Monetary Fund (IMF) approved a 48-month extended arrangement under the Extended Fund Facility of USD 3 billion to support Sri Lanka’s economic policies and reforms, there are talks that the deal between President Ranil Wickremesinghe and IMF may make room for pro-China
President Ranil Wickremesinghe says the country’s resources are wasted on the Ceylon Electricity Board (CEB), Ceylon Petroleum Corporation (CPC), and SriLankan Airlines. Addressing the CEO Forum hosted by CA Sri Lanka, President Wickremesinghe said that money is needed for education, health and social safety for the poor and vulnerable and not to support the CPC, […]
Human Rights Watch (HRW) fears the International Monetary Fund (IMF) loan granted to Sri Lanka could erode rights in the country. The global human rights group said that the Government of Sri Lanka should ensure that policies to enhance revenues do not further erode economic and social rights
[…]The post IMF Loan Risks Eroding Rights; Sri Lanka Should Ensure Fair Taxes, Accountability For Corruption: HRW appeared first on Colombo Telegraph.
Sri Lanka in the throes of the worst economic crisis since Independence has resorted to some desperate action; it has for the first time in its history declared bankruptcy, suspended debt repayment, secured an IMF bailout for the 17th time, and agreed to extremely stringent loan conditions, which have already caused social unrest with people […]
By Easwaran Rutnam Amnesty International (AI) has called for transparency on the International Monetary Fund (IMF) deal with Sri Lanka. Amnesty International’s Senior Director Deprose Muchena said that discussions on the deal should be in the public domain. He said that through the deal, social
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 Lanka is expecting to obtain around US $ 1.36 billion funds from major multilateral agencies, including the International Monetary Fund (IMF), World Bank and Asian Development Bank (ADB), this year.The post Sri Lanka eyes US $ 1.3 Billion from multilateral funding agencies this year appeared
By Ifham Nizam The Ceylon Electricity Board (CEB) and Ceylon Petroleum Corporation (CPC) would be privatised at the best of the International Monetary Fund (IMF) wants, trade unionists said yesterday. They said the government and Minister Kanchana Wijesekera were planning to hand over about 600
Prof. G. L. Peiris yesterday (27) urged Speaker Mahinda Yapa Abeywardena to act speedily on the main Opposition Samagi Jana Balawegaya (SJB) request to summon Finance Secretary Mahinda Siriwardena before the parliamentary Committee on Ethics and Privileges. Addressing the media on behalf of the Freedom People’s Alliance, the former External Affairs Minister said that the […]
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 Government will hike taxes on alcohol and tobacco taxes again in June 2023, and will slap drinkers and smokers with taxes linked to inflation from January 2024, according to intentions declared in an International Monetary Fund program. Sri Lanka has a large public sector workforce
USD 121 million out of USD 333 million, the first tranche that was extended to Sri Lanka by the International Monetary Fund (IMF), was used to pay the instalment of the Indian credit line yesterday (March 24), State Minister of Finance Ranjith Siyambalapitiya said.The post USD 121 Million paid
Former Governor of the Central Bank delivering the keynote address at a high profile Webinar hosted by the Central Bank of Sri Lanka today (24) said that Sri Lanka must implement the structural reforms proposed by the International Monetary Fund (IMF) without relaxing like in the past or else
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.
Holders of Sri Lanka’s international sovereign bonds face a 20% principal haircut in the country’s debt restructuring as well as maturity extensions and a reduction in coupons, according to a Barclays report. Investors’ focus has shifted to the restructuring of Sri Lanka’s $13.4 billion sovereign dollar bonds after Colombo got final sign off on a […]
Several private fertiliser companies have decided to reduce the price of a 50kg Urea fertiliser bag by Rs. 7,500, Minister of Agriculture Mahinda Amaraweera said.The post Urea fertiliser prices to be reduced appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka is probably the first country to light firecrackers for receiving a loan from the International Monetary Fund (IMF), former Minister Wimal Weerawansa told Parliament today. He noted that banners were also erected in some places congratulating the President for securing the loan
The Ministry of Finance has received the first tranche of the Extended Fund Facility (EFF) form the International Monetary Fund (IMF).
The economic crisis forced Sri Lanka to ensure financial discipline and slash unwanted spending, Prime Minister Dinesh Gunawardena told Parliament today. He said that the public and businesses are now being financially discipline and responsible. The Prime Minister also assured transparency when taking forward the reforms as agreed upon between Sri Lanka and the International […]
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
The loan received from the International Monetary Fund (IMF) and the stability of the Sri Lankan Rupee will help reduce electricity tariffs. State Minister of Power and Energy Indika Anuruddha Herath said that market conditions forced the Government to increase tariffs. He said that with the IMF
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.