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In a special statement to Parliament today (13), President Ranil Wickremesinghe emphasized the critical role of the government’s program, backed by assistance from the International Monetary Fund (IMF) and debt restructuring, in rebuilding the collapsed Sri Lankan economy. The President warned
Sri Lanka currently imports most of its energy needs, including oil, coal and hydrocarbons. To ease the economic burden, the island nation aims to generate 70% of its electricity from renewable sources by 2030.The post Sri Lanka approves nuclear power plant construction with Russia as top contender appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund (IMF) said its executive board cleared the first review of Sri Lanka's about $3 billion bailout on Tuesday, providing about $337 million in funds to help tackle the fallout from the country's worst financial crisis in decades.The post IMF board approves first review
The Executive Board of the International Monetary Fund (IMF) has approved the disbursement of approximately US$ 337 million to Sri Lanka as part of a bailout package. The IMF said the Executive Board completed the first review under the 48-month Extended Fund Facility with Sri Lanka, providing
The ‘Civil Society Initiative on Anti-Corruption Reform for Economic Recovery,’ led by Transparency International Sri Lanka (TISL) and comprising Verité Research, Centre for Policy Alternatives (CPA), Sarvodaya Shramadana Movement, People’s Action for Free and Fair Elections (PAFFREL), and National Peace Council (NPC) yesterday said that there was an urgent need for political will and genuine [...
[…]The post New Episodes Of Sri Lanka Political Theatre appeared first on Colombo Telegraph.
Human Rights Watch (HRW) has accused Sri Lanka of ignoring the European Union’s (EU) GSP Plus requirements. Issuing a statement today, HRW said that the Sri Lankan authorities had detained nine ethnic Tamils under the country’s abusive counterterrorism law for commemorating those who died in the 1983-2009 civil war, Human Rights Watch said today.The Sri Lankan […]
[…]The post Tamils Detained For Commemorating War Dead: 9 Held Under Abusive PTA appeared first on Colombo Telegraph.
Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday.The post Sri Lanka to receive about $600 million ADB
The risks from China’s debt pile are mounting as the country grapples with an economic slowdown and property crisis, a leading credit ratings agency has said. Moody’s issued the warning as it cut its outlook on the government’s debt to negative, from stable.The firm is the latest to raise concern about problems facing the world’s […]
Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday.
A US-funded port project in Sri Lanka that is partly owned by a private group close to India’s ruling party could signal a new form of partnership to counter growing Chinese influence in the Indo-Pacific region.The post A China rivalry twist emerges in Sri Lanka’s new US-funded, Indian-built port appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka's in-principle pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday.The post IMF says Sri Lanka debt deal could help board
A group of Sri Lanka's creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan's Jiji News reported on Wednesday, without naming a source or giving any details.The post Creditor nations likely to agree on Sri Lanka debt restructuring – report appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top S...
The Lawyers’ Collective (LC) has strongly condemned what it calls President Ranil Wickremesinghe’s attempt to intimidate the Constitutional Council of Sri Lanka.LC has said in a media statement: “The Lawyers’ Collective strongly condemns the recent attempt by President Wickremesinghe to intimidate the Constitutional Council of Sri Lanka. In an authoritarian move, on 23 November 2023, […...
[…]The post President Resists Independent Review Of His Nominees To High Posts By Constitutional Council appeared first on Colombo Telegraph.
Sri Lanka’s central bank signaled it will pause after cutting interest rates for a fourth time this year as the economy gradually recovers from its unprecedented crisis and inflation bottoms out.The post Sri Lanka signals pause after four rate cuts as IMF loan awaited appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
has said. Even the International Monetary Fund (IMF) had not factored in state expenditures when the latest bailout […]
Rs. 10 billion allocated for potential future elections in Sri Lanka, State Minister for Plantations, Enterprise Reforms and Finance, Ranjith Siyambalapitiya announced.The post Sri Lanka allocated Rs. 10 billion for potential future elections appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka's consumer price inflation rose to 1% in October year-on-year from 0.8% in September, the statistics department said on Tuesday.The post Sri Lankan inflation rises to 1% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Regain A Vision Of Rhe Common Good appeared first on Colombo Telegraph.
[…]The post Greenwashing Bond Scams & Financializing Mother Nature: Climate Science Fiction Versus Local Realities appeared first on Colombo Telegraph.
Sri Lanka expects to receive the second installment of the loan provided under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) in December, 2023.The post Sri Lanka expects second tranche of IMF loan in December appeared first on ONLANKA - Sri Lanka Latest Breaking News
Sri Lanka will call for expressions of interest (EOI) in setting up nuclear power plants, its energy minister said on Friday, as it seeks cheap electricity to support its economic recovery.The post Sri Lanka seeks investors for nuclear power plants appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Shamindra Ferdinando One-rime Secretary of the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) Lacille de Silva yesterday (17) said that leaders of political parties represented in Parliament should set up a committee to study the landmark Supreme Court […]
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 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 […]