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Minister of Ports, Shipping, and Civil Aviation Mr. Nimal Siripala de Silva, has conveyed that the disbursement of the second instalment of the loan under the extended funding facility provided to Sri Lanka by the International Monetary Fund (IMF) is anticipated to occur in December.
Sri Lanka’s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors a key sticking point with countries like India paving the way for more loans from the International Monetary Fund.The post Sri Lanka gives China deal details, keeping IMF aid on track appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors  a key sticking point with countries like India  paving the way for more loans from the International Monetary Fund.
The targets laid out in Sri Lanka’s 2024 budget, particularly with regards to revenue and fiscal deficit, would be challenging to meet even with the economic recovery that is expected to continue next year, Fitch Ratings yesterday (November 15) said.The post Sri Lanka faces uphill battle in meeting 2024 budget targets: Fitch appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Storie...
Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardena, participating at a media briefing held at the Presidential Media Centre (PMC) on Wednesday (15), under the theme ‘Collective path to a stable country’ said that the existing national debt stands at approximately US $ 36 billion and only 37% of this debt is slated […]
Sri Lanka's State Minister of Finance, Shehan Semasinghe says the anticipated economic growth for the year 2024 is projected at 1.8%.The post Sri Lanka expects 1.8% Economic growth in 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Postponing Elections & Inviting The Dragon: Sri Lankan President’s China Tilt appeared first on Colombo Telegraph.
A bull run in Sri Lanka’s defaulted bonds may be nearing its end as investors turn skeptical over more gains with a successful debt revamp already priced in.The post Sri Lanka’s Asia-Beating Dollar Bond Rally May Be Approaching End appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Budget highlights Following are the highlights of Budget proposals made by President Ranil Wickremesinghe in Parliament yesterday: New economic and political system The President said in order not to fall back into a crisis, the economic and political system of Sri Lanka must be created anew. He said that a new social consensus should be […]
* Tax revenue to be raised by 47.1% in 2024 * Rs 10,000 increase for public sector workers * Pensioners to get Rs 2,500 allowance * Rs. 450 bn reserved for bank recapitalization * Four new universities to be established * 20% of state banks to be given off by Saman Indrajith President Ranil Wickremesinghe, […]
A sum of Rs. 3,000 billion has been allocated by the 2024 budget for the implementation of foreign debt restructuring and settlement of International Sovereign Bonds. Under the debt restructuring supported by the International Monetary Fund, Sri Lanka’s public debt as a percentage of GDP
Sri Lanka's government projected a lower-than-anticipated budget deficit for 2024 on Monday on the back of a significant jump in revenues which are crucial to keep its bailout programme from the International Monetary Fund afloat.The post Sri Lanka’s 2024 budget sets ambitious revenue
Sri Lanka is likely to raise taxes and curb spending in its annual budget to meet the International Monetary Fund s conditions and maintain a $3 billion bailout, but elections next year might see the government delay some reforms.
The Executive Board has approved a proposal to be considered by the Board of Governors to conclude the 16th General Review of Quotas with a significant increase in quotas.The post IMF Executive Board approves a proposal to increase financial quotas appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The Executive Board has approved a proposal to be considered by the Board of Governors to conclude the 16th General Review of Quotas with a significant increase in quotas.
Sri Lanka President Ranil Wickremesinghe will seek to boost tax revenue and rationalise spending in the government’s second full-year budget on Monday, targeting a return to growth for the crisis-hit economy while keeping an eye on elections.The post Sri Lanka balances polls and crisis recovery in 2024 budget deliberations appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka and Argentina remain very vulnerable amid a worsening in global financial conditions while China has suffered a sharp deterioration in financial resilience since pre-COVID times, a think-tank study found on Wednesday.The post Sri Lanka, Argentina top list of most vulnerable economies -study appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Minister of Ports, Shipping and Aviation, Nimal Siripala de Silva recently received an assurance from Saudi Arabian Ambassador to Sri Lanka, Khalid Hamoud Nasser Alkahtani, that KSA would support ongoing economic recovery efforts. They met on Nov 6. During the meeting, the Saudi Arabian Ambassador expressed appreciation for the rapid progress achieved by Sri Lanka’s […]
Nepali economist and Member of Parliament Dr. Swarnim Waglé says the International Monetary Fund (IMF) gets blamed for the mess created by politicians when the government has to implement unpopular policies to comply with the conditions set by the global lender for the bailout package.
By N Sathiya Moorthy In a television interview last month, Foreign Minister Ali Sabry reportedly said that the Government of President Ranil Wicrkemesinghe has taken ‘substantial steps to move away from a Welfare State’ in the last 18 months. And he said it not as if it was inevitable under the nation’s economic circumstances and […]
ECONOMYNEXT –Opposition and SJB leader Sajith Premadasa has accused the government of shrinking the economy through its proposal to increase value added tax (VAT) to 18 percent, claiming that it will reduce spending and investments. Speaking at an event on Friday November 03, Premadasa said Sri Lanka is experiencing a shortage in both dollars and […]
[…]The post Doctors’ Brain Drain: Health Security Concern In Sri Lanka appeared first on Colombo Telegraph.
[…]The post BRI Dynamics & Politics Of Cabinet Reshuffle appeared first on Colombo Telegraph.
President Ranil Wickremesinghe, on Wednesday night, speaking at the National Industry Awards ceremony, acknowledged the challenging decision to increase the Value Added Tax (VAT) to 18 percent, emphasising the imperative need to maintain economic stability. National Industry Excellence Awards 2023 was held at the Nelum Pokuna Theatre in Colombo. President Wickremesinghe stressed the importance of ...
Weeks of mounting political tension have erupted into protests and bloodshed in Bangladesh, leaving the country on edge ahead of general elections due in January. Several senior opposition leaders were arrested last Sunday, a day after a massive rally against the government turned violent, resulting in the deaths of at least two opposition supporters. The rejuvenated […]
Sri Lanka's key inflation rate rose to 1.5% in October from 1.3% a month ago, the statistics department said on Tuesday.The post Sri Lanka’s key inflation rate rises to 1.5% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka to increase Value-Added Tax (VAT) from 15 percent to 18 percent effective from January 01, 2024.The post Sri Lanka to increase VAT to 18% appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
State Minister of Finance Shehan Semasinghe has assured that while the government will not take any decisions that would adversely affect the country s economy, the reforms currently being implemented, in compliance with the agreement under the International Monetary Fund (IMF), are ones
ECONOMYNEXT – Sri Lanka is in the process of creating a Revenue Authority and the 2024 budget is likely to announce it to monitor the three key state income collecting bodies due to their poor performance, sources who are aware of the new move said. A Parliament Sectoral Oversight Committee on National Economic and Physical […]
Thursday 26th October, 2023 Some SLPP MPs are shedding copious tears for the public who are struggling to keep their heads above water. Prominent among them is former Minister Namal Rajapaksa, who is trying to absolve the SLPP of the blame for exponential increases in taxes and tariffs. Attributing the people’s economic woes to the […]