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The Central Bank of Sri Lanka has relaxed its monetary policy stance in line with the faster than expected slowing of inflation. The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 31 May 2023, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate […]
- Central Bank of Sri Lanka further reduces policy interest rates (Category: Breaking News)
- CBSL’s decision to raise policy rates in line with IMF expectations (Category: Breaking News)
- Central Bank of Sri Lanka further reduces policy interest rates (Category: Breaking News)
- Central Bank of Sri Lanka decides to maintain policy rates (Category: Breaking News)
The Indian High Commission yesterday (30) said that following a request from Sri Lanka, the State Bank of India (SBI) had extended the tenure of the USD 1 billion Credit Facility, provided in March 2022, for the procurement of essential items. In this context, an Amendment Agreement was signed yesterday, in the presence of the […]
- India should treat us like its little sister, not be Big Brother (Category: Breaking News)
- Creative Accounting (Category: Business)
- Oil Stock (Category: Business)
- Digital Trade (Category: Business)
Sri Lanka has been granted an extension of the credit facility signed March 2022, with India providing access to a USD 1 billion credit facility until March 2024.The post India extends USD 1 Billion Credit Line for Sri Lanka until March 2024 appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
- India extends tenure of USD 1 billion credit facility provided to Sri Lanka (Category: Breaking News)
- India extends LTTE ban for another 5 years (Category: Breaking News)
- India extends $1 bln credit line for Sri Lanka by a year (Category: Breaking News)
- India extends ban on onion exports indefinitely ahead of general election (Category: Breaking News)
In response to a request from the Government of Sri Lanka (GOSL), the State Bank of India (SBI) has extended the tenure of the USD 1 billion Credit Facility provided to GOSL for procurement of essential items in March 2022. In this context, an Amendment Agreement was signed today (30 May 2023) in the presence […]
- Emirates to promote Sri Lanka as ideal destination for travellers (Category: Breaking News)
- World’s largest passenger airline makes rare landing in Sri Lanka (Category: Breaking News)
- Indian Navy’s Advanced Light Helicopter lands in Sri Lanka (Category: Breaking News)
- Indian Navy ship arrives in Colombo (Category: Breaking News)
[…]The post IMF Bailout: Will Enforced Austerity Lead To A Fascist Government? appeared first on Colombo Telegraph.
- Target 2048 – Social Market Economy Ideology Need Be Clarified & Signed Off (Category: Breaking News)
- Child’s Guide To How Ranilnomics Should Be Designed & Implemented (Category: Breaking News)
- Debt Restructuring, Austerity, & The IMF: A Solution Or A Worsening Of The Problem? (Category: Breaking News)
- Without A Code Of Ethics & Principles Of morality, No Meaning In Social Market Economy (Category: Breaking News)
Sinopec (600028.SS) has signed a contract to enter Sri Lanka’s retail fuel market, the President’s office said on Monday, as the crisis-hit country attempts to reduce pressure on its meagre dollar reserves. Under the new deal the Chinese firm will be given a 20-year licence to operate
- Sinopec offers to fully finance Hambantota refinery (Category: Breaking News)
- Sinopec to operate 200 filling stations in Sri Lanka (Category: Breaking News)
- China’s Sinopec to begin islandwide fuel distribution in Sri Lanka (Category: Breaking News)
- Sri Lanka to approve Sinopec’s $4.5 billion refinery proposal (Category: Breaking News)
Islamabad [Pakistan], April 28 (ANI): Amid a rise in inflation and a shortage of foreign exchange reserves, people in Pakistan have started to face difficulties in performing Haj, Pakistan vernacular media reported. The Haj quota is now available for the first time in Pakistani history, but fewer people are making the pilgrimage. Most Pakistanis are […]
- As economic situation looks gloomy in Pakistan, IMF advises strict measures (Category: Breaking News)
- Message from the JVP for Haj . (Category: Breaking News)
- Pakistan rules Gilgit-Baltistan with iron grip, treats citizens as second-rate: Report (Category: Breaking News)
- People can’t be left to mercy of miscreants: Nawaz Sharif slams PTI chief over long march (Category: Breaking News)
The prevailing economic crisis dealt a huge blow to the country’s fisheries sector resulting in setbacks and decline of production thereby raising the retail prices of fish during last year, says the Central bank in its latest annual report. The seventy third Annual Report of the Monetary Board of the Central Bank of Sri Lanka […]
- Lanksa Sathosa slashes prices of five essential items (Category: Breaking News)
- CB announces further jump in inflation (Category: Breaking News)
- Government says no need to import eggs and chicken (Category: Breaking News)
- Fish Stalls open till late night for New Year (Category: Breaking News)
Around 40 percent of Sri Lankans have resorted to livelihood-based coping strategies by reducing their spending on education and health owing to the current economic crisis, says the Central Bank of Sri Lanka, in its latest annual report. The 73rd Annual Report of the Monetary Board of the Central Bank of Sri Lanka released recently […]
- Transformation of agro-food system: (Category: Breaking News)
- Joint food security assessment by govt., FAO, WFP next month (Category: Breaking News)
- WFP finds 32 percent of Lankan households are food insecure (Category: Breaking News)
- Economic crisis takes its toll on education, DCS survey reveals (Category: Breaking News)
Sri Lanka expects to host 1.55 million visitors and earn 2.7 billion Sri Lankan rupees ($8.4 million) in much-needed tourism revenue this year, as it maps a road to the recovery of its tourism sector amid its worst economic crisis in decades.The post Sri Lanka expects cash infusion from 1.5 million tourists in 2023 for crisis-hit economy appeared first on Sri Lanka Breaking News and Top Headlines ...
- Sri Lanka looks to adventure travel to attract ‘quality’ tourists and help rebuild economy (Category: Breaking News)
- Indian cruise ship to launch operations to Sri Lanka (Category: Breaking News)
- Analysis: A year later, Sri Lanka’s tentative economic recovery eludes the poor (Category: Breaking News)
- Tourist arrivals in Sri Lanka cross 200,000 in December (Category: Breaking News)
Sri Lanka President Ranil Wickremesinghe addressed the United National Party (UNP) May Day celebrations held at the Sugathadasa Indoor Stadium in Colombo yesterday (May 01) through video technology.The post Sri Lanka President says Let 2048 be the year of development for Sri Lanka appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- Government’s objective is to develop Sri Lanka as a thriving nation by 2048 (Category: Breaking News)
- Let us collectively join hands to make 2048 the year of development in Sri Lanka – President (Category: Breaking News)
- President to intensify focus on national unity, youth aspirations (Category: Breaking News)
- Elections will be held in accordance with the Constitution, Presidential poll in 2024 – President (Category: Breaking News)
[…]The post Preparing The Ground For Early Elections appeared first on Colombo Telegraph.
- New Mandates Before New Amendments (Category: Breaking News)
- Preparing Or Posturing For Elections? (Category: Breaking News)
- President Needs Trust To Succeed In Problem Solving (Category: Breaking News)
- Speeding Up Recovery Requires Consistency (Category: Breaking News)
By Sanath Nanayakkare Sri Lanka, while pursuing the macro-fiscal adjustment programme, under the IMF’s Extended Fund Facility arrangement, should focus on two key national issues concurrently, President Ranil Wickremesinghe said yesterday. “If the country is to achieve economic growth and share the dividends of prosperity among all its people, we need to focus on two […]
- UNP urges agreement on policies to remain in place for 25 years (Category: Breaking News)
- Ranil: SJB has abandoned UNP vision (Category: Breaking News)
- Culprits as investigators (Category: Breaking News)
- Hope springs eternal … (Category: Breaking News)
By Jehan Perera The second round of reducing the prices of a variety of fuels (2 percent for ordinary petrol to 29 percent for super diesel used by luxury vehicles) is an indication that the government is seeking to improve its support base amongst the better off sections of the population. This could be to […]
- Democracy requires elections in good times and bad (Category: Breaking News)
- Rebuild trust with people to revive economy (Category: Breaking News)
- PAFFREL: Ranil offers to strengthen PCs, having postponed elections to them (Category: Breaking News)
- Preparing The Ground For Early Elections (Category: Breaking News)
[…]The post Is It 1848 Again? Unrest This Time Is Global appeared first on Colombo Telegraph.
- Vladimir Putin, Xi Jinping & Joe Biden (Category: Breaking News)
- Waiting For Godot: Can Some Developing Nations Unite & Transform The Planet? (Category: Breaking News)
- Gathering Storms Cloud On The Horizon; Military, Political, Strategic & Economic Uncertainties A... (Category: Breaking News)
- Snivelling Won’t Combat Corruption; Are We Waiting For Sri Lanka’s Nelson Mandela? (Category: Breaking News)
Sri Lanka's key inflation rate eased to 35.3% in April from 50.3% in March, the statistics department said on Friday, a sign of relief for the crisis-battered economy.The post Sri Lanka’s key inflation rate eases to 35.3% in April appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- Sri Lanka unexpectedly cuts rates by 250 bps as inflation eases (Category: Breaking News)
- Sri Lanka’s key inflation rate eases to 25.2% in May (Category: Breaking News)
- Sri Lanka’s key inflation rate eases to 4% in August (Category: Breaking News)
- Sri Lanka’s April inflation climbs to 2.7%, up from March’s 2.5% (Category: Breaking News)
[…]The post Are We Leading From Behind? appeared first on Colombo Telegraph.
- The Urgent & Critical Issues Related To Climate Change (Category: Breaking News)
- Rising Temperature Rising Frustration (Category: Breaking News)
- Impact Of Climate Change In Sri Lanka: National Security Challenges & Way Forward (Category: Breaking News)
- Forget The politicians & Their Bureaucrats, This Is Why We The Public, Need To Understand Climat... (Category: Breaking News)
Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades.The post Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- Sri Lanka economy could shrink by -3.5% to -4%, president says (Category: Breaking News)
- Sajith claims VAT hike will shrink economy (Category: Breaking News)
- Sri Lanka economy to shrink over 8-pct in 2022, inflation may peak below 70-pct: CB chief (Category: Breaking News)
- Sri Lanka fixed wireless users shrink, broadband up (Category: Breaking News)
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
- Sri Lanka Government hoping to restructure $17 billion foreign debts along with local debts (Category: Breaking News)
- Sri Lanka virtually let down by China in securing a $2.9 billion IMF loan in December (Category: Breaking News)
- President urges China to change tune on debt (Category: Breaking News)
- Fitch downgrades Sri Lanka’s long-term local-currency IDR to ‘CC’ (Category: Breaking News)
Economists sharply cut Sri Lanka’s growth outlook through this year as curbs on imports and still-limited reserves persist even as the International Monetary Fund releases bailout loans and authorities work toward debt restructuring efforts.The post Sri Lanka GDP outlook slashed as economy struggles to recover – report appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ON...
- Sri Lanka unexpectedly cuts rates by 250 bps as inflation eases (Category: Breaking News)
- Central Bank of Sri Lanka threatens administrative measures over high market interest rates (Category: Breaking News)
- Japanese giant Mitsubishi Corporation to wind up operations in Sri Lanka (Category: Breaking News)
- Economist Amal Sanderatne falls to death from apartment complex in Colombo (Category: Breaking News)
[…]The post Taxes, Swiss Bank Accounts & The Chinese Cafe appeared first on Colombo Telegraph.
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
- Playing The Fiddle While The Country Burns! (Category: Breaking News)
- Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? (Category: Breaking News)
- Ranil’s Budget Crisis & Ibn Khaldun (Category: Breaking News)
The Asian Development Bank is considering more concessionary funding for Sri Lanka and support for green bond issues as part of its assistance to help the South Asian nation recover from its worst economic crisis in decades.The post Asian Development Bank eyeing cheaper funds for Sri Lanka, green bond support appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- ADB to disburse US$ 203 Million emergency loan to support Sri Lanka’s poor and vulnerable (Category: Breaking News)
- ADB approves $100 million loan to support SMEs in Sri Lanka (Category: Breaking News)
- Sri Lanka shows signs of recovery but must maintain reform momentum: ADB (Category: Breaking News)
- Sri Lanka crisis: President meets ADB officials on areas of cooperation (Category: Breaking News)
Y P Prakash China is making a comeback in Sri Lanka. First, it gave its consent on conditionalities for the IMF to lend money to the island nation and now reports indicate that China’s Sinopec has pledged to invest in Sri Lanka’s southern district of Hambantota. While Sri Lanka’s experience of Chinese investments has been […]
- Strategic Power (Category: Business)
- Fire Power (Category: Business)
- Power Push (Category: Business)
- Coal Load (Category: Business)
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.
- SriLankan Airlines obtains Government’s approval to recruit foreign pilots (Category: Breaking News)
- SriLankan Airlines participates at the Ottawa Travel and Vacation Show (Category: Breaking News)
- SriLankan Airlines, Korean Air activate codeshare partnership (Category: Breaking News)
- Dialog, SriLankan offer star points, FlySmiLes conversion (Category: Breaking News)
[…]The post Janatha Aragalaya: The People’s Struggle In Sri Lanka appeared first on Colombo Telegraph.
- The Exit Of The Old Guard & The Arrival Of The New (Category: Breaking News)
- Modi-Wickremesinghe Tamil Drama (Category: Breaking News)
- Diaspora Tamils & 13A (Category: Breaking News)
- 40 Years After The Anti-Tamil Pogrom Of July 1983: Root Causes Remain Unaddressed (Category: Breaking News)
Sri Lanka’s economy is projected to contract further in 2023 before it begins a gradual recovery in 2024, as the country navigates an unprecedented economic crisis, the Asian Development Bank (ADB) said in its annual flagship economic publication, the Asian Development Outlook (ADO) April 2023.The post Sri Lanka’s economy to contract further before gradual recovery in 2024 – ADB appear...
- Sri Lanka shows signs of recovery but must maintain reform momentum: ADB (Category: Breaking News)
- Asian Development Bank eyeing cheaper funds for Sri Lanka, green bond support (Category: Breaking News)
- ADB approves $200 Million to sustain economic stabilization efforts in Sri Lanka (Category: Breaking News)
- ADB approves $350 Million for Sri Lanka economic stabilization programme (Category: Breaking News)
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 ...
- Central Bank of Sri Lanka threatens administrative measures over high market interest rates (Category: Breaking News)
- Sri Lanka central bank keeps policy rates unchanged to tame inflation (Category: Breaking News)
- Sri Lanka central bank chief: monetary policy transmission still incomplete (Category: Breaking News)
- Sri Lanka central bank to consider a single policy rate mechanism (Category: Breaking 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) approved a US$3 billion loan to Sri Lanka to help resolve […]
- Human Rights Watch fears IMF loan could erode rights in Sri Lanka (Category: Breaking News)
- CBSL Governor urges public to become informants to boost tax revenue (Category: Breaking News)
- Tax payers look to tighten belts further or migrate as progressive taxes bite (Category: Breaking News)
- IMF Loan Risks Eroding Rights; Sri Lanka Should Ensure Fair Taxes, Accountability For Corruption... (Category: Breaking News)
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 and that anti-corruption reforms provide accountability. On […]
- HRW says economic crisis puts rights in Sri Lanka in peril (Category: Breaking News)
- Rights group accuses Sri Lanka of cracking down on dissent (Category: Breaking News)
- Ranil urged to end use of counter terror laws on protesters (Category: Breaking News)
- Ongoing abuses undermining proposed TRC goals in Sri Lanka (Category: Breaking News)
[…]The post IMF Loan Risks Eroding Rights; Sri Lanka Should Ensure Fair Taxes, Accountability For Corruption: HRW appeared first on Colombo Telegraph.
- Sri Lankan Govt. Should Withdraw Draft ‘Rehabilitation’ Law: Human Rights Watch (Category: Breaking News)
- Rights Groups Urge Strong UN Resolution On Sri Lanka: UNHRC Should Enhance Mandates, Address Gro... (Category: Breaking News)
- Reject New Counterterrorism Bill: Proposed Law Breaks Government Pledge To End Abuse – HRW (Category: Breaking News)
- Rights groups urge strong UN resolution on Sri Lanka (Category: Breaking News)
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