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USD 3 mn Japanese grant attached to ongoing project By Shamindra Ferdinando An agreement on the much advertised cash assistance, provided exclusively to paddy farmers by the Wickremesinghe-Rajapaksa government, was finalised several weeks before then President Gotabaya Rajapaksa stepped down on July 14, 2022 amidst violent protests. The Asian Development Bank (ADB) has provided the […]
The Central Bank informed a Parliament committee that it is confident the first tranche of the financial assistance from the International Monetary Fund (IMF) will be received during the 1st quarter of 2023. The Committee on Public Finance (CoPF) chaired by (Dr.) Harsha De Silva stressed
The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters. India wrote to the IMF earlier this month
Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, the country’s central bank chief P. Nandalal Weerasinghe said. “There has been good progress this month with India already pledging financing assurances. We expect assurances from China and Japan soon,” Weerasinghe said […]
The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters.The post China’s EXIM bank offers Sri Lanka debt
The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters.
China is expected to hand over its letter of support for financing and debt restructuring of Sri Lanka, to the International Monetary Fund (IMF) on Sunday, the Hindustan Times reported.The post Sri Lanka’s debt restructuring: China expected to inform its support to IMF today appeared
Sri Lanka expects to get China's backing for its debt restructuring plan within days to help unlock a $2.9 billion loan from the International Monetary Fund, a government official said on Friday, as India pledged further support to its crisis-stricken southern neighbour.The post Sri Lanka expects
India’s External Affairs Minister S. Jaishankar on Thursday met Sri Lanka's top leadership and conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery.The post Jaishankar conveys India’s commitment to increase investment flows to Sri Lanka to hasten economic recovery appeared first on Sri Lanka News - Latest Breaking News in Sri La...
Dr. Jaishankar is in Sri Lanka to help under the “neighborhood first” strategy of India By R. R. M Lilani Dr. Jaishankar, India’s Foreign Minister, who is scheduled to arrive in Sri Lanka on January 19, 2023, has made another ‘neighbourhood first’ agreement with Sri Lanka by backing the country’s delayed debt restructuring programme with […]
India has told the International Monetary Fund that it strongly supports Sri Lanka's debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters.The post India ‘strongly supports’ Sri Lanka debt restructuring plan
Indian External Affairs Minister S. Jaishankar’s visit to Colombo on Thursday will focus on “supporting Sri Lanka” in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka’s debt. The two-day visit is expected […]
External Affairs Minister of India, S. Jaishankar’s visit to Colombo on Thursday will focus on “supporting Sri Lanka” in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka’s debt. The two-day visit is expected to see some announcements.The post ...
New tax administration system for Excise Dept. proposed at a cost of Rs 2 bn By Shamindra Ferdinando The International Monetary Fund (IMF) has stepped in to help streamline tax collection here amidst allegations of corruption and inefficiency against revenue collecting authorities. Justice Minister
Sri Lanka has completed debt restructuring talks with Japan, President Ranil Wickremesinghe said. Wickremesinghe said that Japan is one of the three main countries from who Sri Lanka has obtained loans. The other two countries are China and India. The International Monetary Fund (IMF) has requested
[…]The post 182 Experts Call For Debt Cancellation But Private Investors Play Hardball appeared first on Colombo Telegraph.
President Ranil Wickremesinghe has said that India’s response to cash-strapped Sri Lanka’s request for debt restructuring is expected by the end of this month. Sri Lanka, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), has been trying
The International Monetary Fund (IMF) is in talks with China to try and convince the country to restructure Sri Lanka’s debt. During a round-table media interaction, IMF Managing Director Kristalina Georgieva said that the IMF wants to help China understand both the whole issue of debt
Might affect IMF aid Samurdhi officials’ refusal to collect data to prepare a social welfare register to enhance transparency of government welfare programmes has caused many issues.This was revealed when the Extraordinary Gazette No. 2302/23, published under the Welfare Benefits Act No. 24 of 2002, was taken into consideration before the Committee on Public Finance […]
The Bangladesh Bank has extended the repayment period of the $200 million loan to Sri Lanka by six months until September this year amid the recovery of the South Asian country from its devastating economic crisis. The central bank made the decision at its board meeting on Thursday, a senior official, wishing to remain unnamed, […]
Indian Foreign Minister S. Jaishankar is expected in Sri Lanka next week, President Ranil Wickremesinghe said. The visit comes as both India and Sri Lanka are involved in debt restructuring talks. The International Monetary Fund (IMF) wants Sri Lanka to restructure its debt in order to release
The Exim Bank of China and the Sri Lankan Government had talks on Sri Lanka’s debt crisis. The discussion took place between Wu Fulin, Chairman of the Export-Import Bank of China and President Ranil Wickremesinghe. “Wu Fulin, Chairman of the Export-Import Bank of China, held a fruitful video conference with Ranil Wickremesinghe, President and Minister […]
The Central Bank of Sri Lanka (CBSL) bank has urged China and India to agree a write-down of their loans as soon as possible.The post Central Bank Governor urges China and India to reduce Sri Lanka’s debts soon appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s central bank has urged China and India to agree a write-down of their loans as soon as possible. The crisis-hit Indian Ocean state defaulted on its debt repayments and negotiated a $2.9bn (£2.4bn) bailout. But the International Monetary Fund will not release the cash until China
[…]The post Ranil’s Neoliberal Policies: A Death Knell For Working Class Sri Lankans appeared first on Colombo Telegraph.
Sri Lanka will restart negotiations on trade pacts with India, China and Thailand after a four-hear hiatus, an official said on Thursday, as the crisis-hit country races to seal deals to help it rebuild its economy.The post Sri Lanka to restart trade deal talks with India, China and Thailand – official appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Central Bank of Sri Lanka yesterday (December 04) laid out its short to medium-term policy path and a slew of other measures that it intends to roll out primarily to restore price stability and to maintain the financial system’s health, as Sri Lanka struggles to emerge from the worst economic crisis since its independence.The post Sri Lanka’s Central Bank lays out policies to restore pri...
Significant progress has been made at present in relation to the interaction with Sri Lanka’s creditors, the Central Bank of Sri Lanka said today. The bank said that it expects a crucial deal with the International Monetary Fund (IMF) to materialize in early 2023. Announcing its monetary and fiscal
By SHIHAR ANEEZ Tens of thousands of Sri Lankan individuals as well as corporates have to cut spending and investment from January as steep income tax rates come into force to finance a bloated state amid 65 percent inflation and turnover tax hikes that had already depleted disposable incomes. The higher income taxes are coming in […]
[…]The post Gota Back In The USA & A Chilling Killing: Welcome To 2023 A (Virtual) Realty In A Post-Truth World appeared first on Colombo Telegraph.