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[…]The post Unraveling The Root Causes Of Sri Lanka’s Foreign Currency Crisis appeared first on Colombo Telegraph.
- Debt Restructuring, Austerity, & The IMF: A Solution Or A Worsening Of The Problem? (Category: Breaking News)
- Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? (Category: Breaking News)
- From Socialism To Success: Sweden’s Economic Evolution (Category: Breaking News)
- Budget 2023: A Depth Or Dearth (Category: Breaking News)
As a collective body of exporters, we have been at the forefront of sustaining employment and ensuring a steady flow of foreign exchange, even amidst the most severe economic downturns faced by our nation. Our membership covers the majority of merchandise exports, which account for some 13% of Sri Lanka’s GDP. Today, we stand united […]
- ‘Recognizing, Inspiring and Strengthening’ SL’s exporters (Category: Breaking News)
- Brandix excels at export awards (Category: Breaking News)
- Dollars and conscience (Category: Breaking News)
- Why record export earnings may not be good news (Category: Breaking News)
[…]The post Why The Sri Lankan Rupee Is Appreciating appeared first on Colombo Telegraph.
- Journey Through The Rotten Bridge For The Reforms Of Government Expenditure (Category: Breaking News)
- Who Are Primarily Responsible For The Economic Disaster, The Politicians Or The People? (Category: Breaking News)
- The Impact Of The Next Election On The Economic Reforms (Category: Breaking News)
- Sri Lanka In Dire Straits (Category: Breaking News)
Sri Lanka's President, Ranil Wickremesinghe, asserted that the nation’s economy is experiencing robust growth due to the government’s initiatives.The post Sri Lanka’s President says Government initiatives drive robust economic growth appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka President Ranil delivers Government’s policy statement in Parliament (Category: Breaking News)
- Sri Lanka expects 1.8% Economic growth in 2024 (Category: Breaking News)
- Government’s objective is to develop Sri Lanka as a thriving nation by 2048 (Category: Breaking News)
- President blames Sajith for crisis (Category: Breaking News)
Summarised below are the key operational and financial highlights of our performance during the quarter under review: Group PBT at Rs.1.40 billion in the first quarter of the financial year 2023/24 is a decrease over the Rs.14.80 billion recorded in the previous financial year. The first quarter of the previous year included Rs.10.12 billion of […]
- JKH records EBITDA growth of 9% to Rs.10.41 billion in Q3 (Category: Breaking News)
- Dialog rings steady results (Category: Business)
- ComBank stays on growth trajectory in 2023 with notable Q4 performance (Category: Breaking News)
- Dialog dials top line growth in 2Q; forex losses cut profit (Category: Business)
Fitch Ratings has downgraded Sri Lanka's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'C' from 'CC'. The issue ratings on local-currency bonds have also been downgraded to 'C' from 'CC'.The post Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘C’ appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
- Fitch downgrades Sri Lanka (Category: Breaking News)
- Fitch Downgrades Sri Lanka s Long-Term Local-Currency IDR to C (Category: Breaking News)
- Fitch downgrades SL’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
Fitch Ratings has warned of risks in Sri Lanka’s domestic debt restructuring plan but noted that it resolves uncertainties around its impact on the local banking sector. The Sri Lankan Government’s proposal for treatment of domestic debt marks a significant step towards resolving uncertainties around the impact of the sovereign’s debt restructuring on the local […]
- Fitch downgrades Sri Lanka’s long-term local-currency IDR to ‘CC’ (Category: Breaking News)
- Fitch Ratings warns of risks from political instability in Sri Lanka (Category: Breaking News)
- Fitch affirms rating on 15 Sri Lankan Banks – Removes Watch Negative (Category: Breaking News)
- Fitch warns Sri Lankan corporates at risk (Category: Breaking News)
ECONOMYNEXT –Sri Lanka’s personal income tax hikes have hit economic activity in the first quarter though despite currency stability helped businesses cut prices, Hemas Holdings, a top consumer goods group has said.As the currency stabilized, as central bank ended contradictory money and exchange policy conflicts, businesses had cut prices. Mainstream economists generally claim that price […...
- Rupee appreciation alone not indicative of economic stabilisation – economist (Category: Breaking News)
- Sajith claims VAT hike will shrink economy (Category: Breaking News)
- Tax payers look to tighten belts further or migrate as progressive taxes bite (Category: Breaking News)
- CBSL Governor upbeat about being on right track, but urges govt. to do more to protect low-incom... (Category: Breaking News)
By Hema Senanayake hemasenanayake@yahoo.com IMF has an ideology, a system of ideas and ideals which forms the basis of its decisions and policy prescriptions for which the recipient country of the loan claims as of its own. The most important idea does not originate from economic theory but international trade theories instead. The Great Recession […]
- Flexible Rate (Category: Business)
- RW says great power rivalries and geopolitics emerging threat to Third World (Category: Breaking News)
- Steve Hanke on currency boards and flawed pegs amid Sri Lanka meltdown (Category: Breaking News)
- Reactions (Category: Business)
Adventure tourism is playing a key role in helping Sri Lanka rebuild its economy after a turbulent few years for the South Asian nation.The post Sri Lanka looks to adventure travel to attract ‘quality’ tourists and help rebuild economy appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- Sri Lanka looks to adventure travel to attract quality tourists and help rebuild economy (Category: Breaking News)
- Sri Lanka approves visa-free entry for tourists from 07 countries (Category: Breaking News)
- Driving Adventure (Category: Business)
- Sri Lanka Tourism ready for tourists (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)
[…]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)
Around USD 500 million entered the market within a period of seven days, the Governor of the Central Bank of Sri Lanka, Nandalal Weerasinghe said.The post USD 500 million entered the market in seven days – CBSL Governor appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka’s Central Bank Governor asks critics to provide alternatives (Category: Breaking News)
- Sri Lanka has no alternative other than IMF – CBSL chief (Category: Breaking News)
- Economic situation will worsen if political stability is not established soon  CBSL chief (Category: Breaking News)
- Dr. Nandalal Weerasinghe re-appointed CBSL Governor for 6-year term (Category: Breaking News)
Sri Lanka’s rupee, which became the world’s best performing currency this year amid hopes of an International Monetary Fund bailout, may resume declines and lose a fifth of its value against the dollar by end-2023, according to Fitch Solutions. “We are optimistic that Sri Lanka will be able to secure an IMF board approval by […]
- Sri Lanka s rupee will reverse gains and plummet 20%, Fitch says (Category: Breaking News)
- Rupee weakens against USD (Category: Breaking News)
- Notable appreciation of rupee against major currencies (Category: Breaking News)
- Fitch places seven Sri Lankan insurers on Rating Watch Negative (Category: Breaking News)
Sri Lankan rupee appreciated yesterday (February 28) on improved sentiments over the current and future foreign exchange conditions in the domestic market after the announcement that International Finance Corporation (IFC) is willing to provide a US$ 400 million worth of swap facility
- Sri Lankan Rupee further depreciates against U.S. Dollar (Category: Breaking News)
- Sri Lankan Rupee appreciates further against U.S. Dollar (Category: Breaking News)
- Sri Lankan Rupee depreciates against U.S. Dollar (Category: Breaking News)
- Sri Lankan Rupee appreciates against U.S. Dollar (Category: Breaking News)
Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, posted impressive overall growth with annual revenue surpassing Rs 100 Bn once again, recording Rs 108 Bn for the financial year 2022. This resulted in the Group recording a revenue increase of 5.2% for the financial year 2022, strengthened by a healthy bottom line […]
- SLT Group annual revenue surpasses Rs. 100 bn amid unprecedented challenges (Category: Breaking News)
- SLT Group stays resilient for Q3 overcoming external impacts (Category: Breaking News)
- SLT Group achieves stable revenues for Q1, remaining resilient despite challenges (Category: Breaking News)
- Aitken Spence records PBT of Rs. 8.5 billion for first half of 2022/23, with quadruple-digit gro... (Category: Breaking News)
Sri Lanka Telecom Group (SLT Group) posted an impressive overall growth with annual revenue surpassing Rs 100 bn once again, recording Rs 108 bn for the financial year 2022. This resulted in the Group recording a revenue increase of 5.2% for the financial year 2022, strengthened by a healthy bottom line of Rs 4,765 Mn […]
- SLT Group annual revenue surpasses Rs. 100 Bn again (Category: Breaking News)
- SLT Group stays resilient for Q3 overcoming external impacts (Category: Breaking News)
- SLT Group achieves stable revenues for Q1, remaining resilient despite challenges (Category: Breaking News)
- Aitken Spence records PBT of Rs. 8.5 billion for first half of 2022/23, with quadruple-digit gro... (Category: Breaking News)
[…]The post Accountability Issues & Human Rights Cannot Be Glossed Over appeared first on Colombo Telegraph.
- The need to strengthen national accountability mechanisms (Category: Breaking News)
- Time For Truth Come Out (Category: Breaking News)
- Government Needs To Commit To More Than Commissions (Category: Breaking News)
- Government Needs To Commit To More Than Commissions (Category: Breaking News)
by Jehan Perera The government’s proposal to set up a truth and reconciliation mechanism to deal with the unresolved human rights issues of the war will get a boost in the aftermath of last week’s unexpected developments that will directly affect three former presidents of Sri Lanka hitherto thought to be untouchable by virtue of […]
- Accountability Issues & Human Rights Cannot Be Glossed Over (Category: Breaking News)
- Post-War Reconciliation Process: Human Rights violation (Category: Breaking News)
- Tamil diaspora call on more countries to sanction GR, MR (Category: Breaking News)
- A first indication of readiness to go on a new path (Category: Breaking News)
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 […]
- Sri Lanka gambles on tax hikes; downside risks seen than gains (Category: Breaking News)
- Sri Lanka expands state workers 11-pct under revenue based fiscal consolidation (Category: Breaking News)
- Death and taxes: inevitabilities of life (Category: Breaking News)
- Budget, Taxation Turmoil and Policy Blunders – Part II (Category: Breaking News)
Two Fundamental Rights actions In a Fundamental Rights action (SCFR 212/2022) against a string of VIPs, the Supreme Court has granted leave to proceed against former President Gotabaya Rajapaksa, former Finance Ministers Mahinda Rajapaksa and Basil Rajapaksa, former Central Bank Governors, Professor W.D Lakshman and Ajith Nivard Cabraal, the Monetary Board of Sri Lanka and […]
- Gotabaya, Mahinda, Basil and 36 others to face legal action? (Category: Breaking News)
- Sri Lanka’s top court allows case against ex-president, top officials over currency crisis (Category: Breaking News)
- Sumanthiran: Rajapaksas have enough money to compensate 22 million Sri Lankans (Category: Breaking News)
- SC rules that Rajapaksas, Monetary Board responsible for current economic crisis (Category: Breaking News)
By A.J.A Abeynayaka The Supreme Court yesterday granted leave to proceed with several fundamental rights petitions seeking legal action against former President Gotabaya Rajapaksa, former Finance Ministers Mahinda Rajapaksa and Basil Rajapaksa, and 36 others for financial irregularities and mismanagement of the economy.The cases were filed by Transparency International Sri Lanka (TISL) and a forme...
- Supreme Court grants leave to proceed against GR, MR, Basil and other VIPs (Category: Breaking News)
- Economic crisis: Patali calls for punitive action against errant politicians, officials (Category: Breaking News)
- Sumanthiran: Rajapaksas have enough money to compensate 22 million Sri Lankans (Category: Breaking News)
- Sri Lanka’s top court allows case against ex-president, top officials over currency crisis (Category: Breaking News)
Sri Lanka economic crisis aggravated after the collapse of rupee in March 2022
- Travel ban sought on ex-Sri Lanka PM, Basil, Lakshman, Cabraal, Attygalle (Category: Breaking News)
- Supreme Court grants leave to proceed against GR, MR, Basil and other VIPs (Category: Breaking News)
- Gotabaya, Mahinda, Basil and 36 others to face legal action? (Category: Breaking News)
- Supreme Court finds Rajapaksa brothers guilty over economic crisis (Category: Breaking News)
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
- Debt Restructuring As Rocket Science: The IMF, Green, Blue & Pink-Washing BlackRock? (Category: Breaking News)
- ‘Make The Economy Scream’: Whither The Asian 21st Century? (Category: Breaking News)
- Gota Back In The USA & A Chilling Killing: Welcome To 2023 A (Virtual) Realty In A Post-Truth Wo... (Category: Breaking News)
- Alternatives To The IMF & The Future Of The Welfare State: Beyond The Blame Game Between Superpo... (Category: Breaking News)
Interest on several International Sovereign Bonds have been missed.
- S&P downgrades two Sri Lanka sovereign bonds to ‘D’ (Category: Breaking News)
- S&P lowers Sri Lanka’s sovereign rating to Select Default grade (Category: Breaking News)
- S&P marks Sri Lankan bonds as ‘default’, deepening junk status (Category: Breaking News)
- Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
[…]The post The ACF Commission: To Exorcise Ghosts Of Truth That Continued To Haunt Regardless appeared first on Colombo Telegraph.
- Commission Of Inquiry: Testify At Your Own Peril (Category: Breaking News)
- Kapila Jayasekera: Killer-In-Chief In Both ACF & Five Students Cases (Category: Breaking News)
- Looking To The Past: The Political Cultivation Of An Obliging Judiciary To Violate Rights (Category: Breaking News)
- Antics Of Rajapaksa’s Viceroy In The Volatile North (Category: Breaking News)
[…]The post Impunity In Times Of Uncertainty appeared first on Colombo Telegraph.
- Kapila Jayasekera: Killer-In-Chief In Both ACF & Five Students Cases (Category: Breaking News)
- Ranil Wickremesinghe’s Democratic Credentials? A Test, A Challenge! (Category: Breaking News)
- Commission Of Inquiry: Testify At Your Own Peril (Category: Breaking News)
- The ACF Commission: To Exorcise Ghosts Of Truth That Continued To Haunt Regardless (Category: Breaking News)
We believe the foreign-currency funding and liquidity profile is highly stretched
- Fitch rates BOC’s Subordinated Debt ‘AA(lka)’ (Category: Breaking News)
- Good early demand for BOC’s historic $ 500 m bond (Category: Business)
- Fitch Assigns BOC’s USD Senior Notes Final ‘BB-’ Rating (Category: Breaking News)
- Sri Lanka DFCC Bank rating watch negative kept in soft-peg collapse: Fitch (Category: Breaking News)
Views of Milton Friedman, Robert Mundel and how John Greenwood and Alan Walters set up the Hong Kong currency board
- Milton Friedman’s views on currency boards explained by Hanke amid Sri Lanka soft-peg crisis (Category: Breaking News)
- Sri Lanka continues to soft-peg in May intervening in both directions (Category: Breaking News)
- Sri Lanka central bank deep in debt, dollar shortages at ‘guidance’ rate : Wijewardena (Category: Breaking News)
- Sri Lanka rates elevated amid failed float and DDR fears (Category: Breaking News)
2025, 2027 bonds downgraded to default a month after coupon payments missed
- Sri Lanka sovereign rating at SD but ISBs downgraded to ‘D’ by S&P (Category: Breaking News)
- S&P lowers Sri Lanka’s sovereign rating to Select Default grade (Category: Breaking News)
- S&P marks Sri Lankan bonds as ‘default’, deepening junk status (Category: Breaking News)
- S&P pushes Sri Lankan bonds deeper into junk territory with ‘default’ rating (Category: Breaking News)
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