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Sri Lankans have lost access to most medicine and medical supplies, setting them on course for a humanitarian disaster, Direct Relief reported. Unlike Russia’s invasion of Ukraine and the recent hurricane batterings of Puerto Rico and Florida, Sri Lanka’s crisis grew slowly and has garnered few international headlines. But Sri Lankans are suffering amid the […]
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
Unlike the financial crisis of 2008, the economic levers alone were insufficient to stimulate global economic recovery in 2022 as what had led to the current crisis was the consequences of evolving geopolitics, President Ranil Wickremesinghe said on Thursday at the ADB’s 55th annual meeting. “The Ukraine war on one side and the US-China rivalry, […]
Japan is prepared to “do its part” over Sri Lanka’s debt issue, but other creditors, such as China and India, should also be involved in efforts to resolve it, Finance Minister Shunichi Suzuki said Thursday.The post Japan set to do its part over Sri Lanka debt woes – Finance Minister appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
A food crisis in Sri Lanka looms as the island nation faces its worst economic disaster in decades. With food price inflation higher than 90%, even staples like rice have become almost unaffordable for many Sri Lankans. The World Food Programme (WFP) estimates that about 30% of the population is food insecure and that one out of […]
As calls are growing for the independence of Sri Lanka’s Central Bank, which was also clearly laid out in the staff-level agreement with the International Monetary Fund (IMF), there are growing concerns among certain sections whether total independence would mean lack of accountability
For the first time in parliamentary history, the Central Bank of Sri Lanka has issued a dire warning to Parliament and political parties therein over the responsibility on their part to ensure financial stability and discipline. Their failure to do so would trigger public protests again, they were told. There hadn’t been such a public […]
Sri Lanka’s former president, Gotabaya Rajapaksa, who fled the country in July after tens of thousands of protesters stormed his home and office in a display of anger over the country’s economic crisis, has returned to the country after seven weeks.The post Sri Lanka’s ousted president Gotabaya Rajapaksa returns home after fleeing appeared first on ONLANKA News :. Sri Lanka Latest Breaking N...
External Affairs Minister of India, Dr. S. Jaishankar said on Thursday that the relationship between India and China was going through an “extremely difficult phase” after what Beijing had done at the border and emphasised that the Asian Century would not happen if the two neighbours could not join hands.The post India has done its best to assist Sri Lanka – Jaishankar appeared first on ONLA...
India says it is prepared to support Sri Lanka to secure a deal with the International Monetary Fund (IMF). Indian External Affairs Minister S. Jaishankar said that India had done the best of its abilities to assist Sri Lanka. “This year alone India had extended $3.8 billion of support to Sri
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[…]The post Pelosi’s Pivot As Cold War & Colonialism Rebound: Blue-Greenwash In The Indian Ocean appeared first on Colombo Telegraph.
The United States and India have had high-level talks on the situation in Sri Lanka. US Secretary of State Antony Blinken discussed the situation in Sri Lanka at a meeting with Indian External Affairs Minister S. Jaishankar. Blinken tweeted saying during the meeting with Jaishankar he discussed the implications of Russia’s aggression against Ukraine and Sri […]
by Chandre Dharmawardana, chandre.dharma@yahoo.ca. The forex crisis had forced the government to jettison its initial set of economic managers of the Central bank who looked for home-grown solutions and opposed dealing with the International Monetary Fund (IMF). The President re-instated a set
Calls for unity in a country torn apart by nationalism and monetary instability
Selected imports will be restricted to balance payments for fuel, President Ranil Wickremesinghe said today. The President told Parliament that the immediate requirement before the country is fuel. “While appreciating the international assistance in addressing the fuel shortage, it in timely that we now initiate a system for such importation from our own export income […]
AL Jazeera) Some Asian central banks must rapidly raise interest rates to prevent an “upward spiral” in inflation as the war in Ukraine drives surging fuel and food prices, an International Monetary Fund (IMF) official has said. While inflation in Asia remains “moderate”
The head of the U.S. government aid agency called on China on Wednesday to help Sri Lanka and other nations that had borrowed heavily from Beijing with debt restructuring, not just with lines of credit and emergency loans.The post USAID chief calls on China to restructure Sri Lanka’s debt appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
Hambantota in southern Sri Lanka housed ousted President Gotabaya Rajapaksa following the recent crisis, until he was forced to flee the country entirely. That continues a trend of the city, and especially its strategic deep-sea port, being in the news for all the wrong reasons. In 2017, when Sri Lanka found itself struggling to make […]
Global un-employment set to rise
The Indian economy is on course to achieve projected 8-8.5 per cent growth based on high-frequency indicators for the first quarter of the FY 2022-23, the Finance Ministry said on 19 July. Earlier on 31 January, the Economic Survey tabled in the Parliament projected the real GDP during 2022-23 to grow at 8.0-8.5 per cent. […]
The International Monetary Fund hopes to complete rescue talks with Sri Lanka “as quickly as possible,” Managing Director Kristalina Georgieva said on Wednesday, hours before the crisis-hit South Asian nation elected a new president. Speaking with Nikkei Asia in Tokyo, Georgieva
The International Monetary Fund hopes to complete rescue talks with Sri Lanka "as quickly as possible," Managing Director Kristalina Georgieva said on Wednesday, hours before the crisis-hit South Asian nation elected a new president.The post IMF hopes to complete Sri Lanka aid talks ‘
International Monetary Fund (IMF) Managing Director Kristalina Georgieva says the economic crisis in Sri Lanka is a warning sign to the rest of the world.Speaking to G20 Finance Ministers and Central Bank Governors in Indonesia, Georgieva said that the global economic outlook has darkened
International Monetary Fund (IMF) Managing Director Kristalina Georgieva says the economic crisis in Sri Lanka is a warning sign to the rest of the world. Speaking to G20 Finance Ministers and Central Bank Governors in Indonesia today, Georgieva said that the global economic outlook has darkened
Countries already under pressure from the economic fall-out of the COVID-19 pandemic, risk seeing the same economic turmoil and human misery as Sri Lanka, the UN said. “We’re witnessing a tragic series of events that are unfolding in Sri Lanka right now that should be a warning to anyone who thinks that, you know, it […]
Says economy could contract 7-pct in 2022
Sri Lanka’s total debt burden increased to Rs 21.6 trillion by March 2022, Prime Minister Ranil Wickremesinghe told Parliament today. He said that Sri Lanka needs to pay $3.4 billion between June and December this year, $5.8 billion in 2023, $4.9 billion in 2024, $6.2 billion in 2025, $4.0 billion in 2026 and $4.3 billion […]
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