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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 […]
The Government has enforced what is seen as an unofficial, partial lockdown from midnight today until 10th July with the public being urged to stay home. Cabinet Spokesman, Minister Bandula Gunawardena said that schools in Colombo and other major cities will remain closed until 10th July. Schools in other areas will function at the discretion […]
Market has risen throughout the week, but in thin trade.
By Ashanthi Warunasuriya Sri Lanka is facing a fullblown humanitarian emergency, the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) said. The UN said in its latest update that currently close to 200 essential medicines are now out of stock in Sri Lanka, with a predicted shortage of another 163 critical over the […]
Prime Minister Ranil Wickremesinghe informed Parliament today that Sri Lanka was facing the threat of hitting rock bottom. He also said that going to the International Monetary Fund (IMF) is the only option Sri Lanka has to resolve the economic crisis. The Prime Minister said that the aim
Brokers see downward trend to continue in the next few weeks until interest rates come down.
Talks will continue over the next few days with an IMF delegation already in the island nation, he said.
"China and the United States could work together to help Sri Lanka (to) overcome current difficulties (sp)."
[…]The post IMF – Eagerly Awaited – Desperation Grows! appeared first on Colombo Telegraph.
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed Prime Minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]
[…]The post Depart From The Comfort Zone! appeared first on Colombo Telegraph.
The Government is looking to provide food free of charge to 10% of the population, Prime Minister Ranil Wickremesinghe said. He said that due to the pending food shortage he was launching a food security program in the country. Prime Minister Ranil Wickremesinghe added that he was hopeful that through the food security program the […]
Sri Lanka is compelled to depend on other countries to manage the impacts of economic crisis.
Wickremesinghe is on the spotlight for his performance after accepting Prime Minister post unconditionally.
Prime Minister Ranil Wickremesinghe has warned that the next three weeks will be tough for Sri Lanka. Speaking in Parliament today, the Prime Minister said that the public must use fuel and gas as carefully as possible. He also said that unessential travel should be limited as much as possible. “Therefore, I urge all citizens […]
Says guidance rate has reduced volatility
[…]The post Sri Lanka’s Economic, Political & Human Crisis appeared first on Colombo Telegraph.
[…]The post Elon Musk To Rescue Sri Lanka From IMF Debt Bondage? appeared first on Colombo Telegraph.
They brought the proposal (in 2020) that Financial Advisors have to be appointed to make debt sustainable.
“What the international community is looking for is long-term policy credibility and sustainability."
Experts say, “The lack of cooperation by Beijing would complicate the debt recovery journey of Sri Lanka”. The magnitude of the economic crisis that Sri Lanka is facing has reached catastrophic proportions. The whole world is astounded by the rampant mismanagement beyond the comprehension of anybody. Once an economic model of Asia, is now reeling […]
Cabraal has been prevented leaving the country from April 7
[…]The post Masks Of Democracy & Energy Geopolitics: Is Full Spectrum Dominance The Endgame? appeared first on Colombo Telegraph.
Lack of parliament majority could drag the new prime minister's economic recovery plans
[…] The post Delayed IMF Assistance & The Fertilizer Ban: President Rajapaksa’s “Two Mistakes” That Pauperized Sri Lanka appeared first on Colombo Telegraph.
Colombo: India continues help its close neighbor Sri Lanka which is facing the worst economic crisis in its history, by lending economic support and assistance. Indian Minister of Finance Nirmala Sitharaman told The International Monetary Fund recently to help Sri Lanka by extending its rapid aid
[…] The post IMF Facility? Is It Sufficient To Deliver Prosperity To Sri Lankans? appeared first on Colombo Telegraph.
Three leading international firms are among firms seeking to provide financial advice to Sri Lanka to help revamp $12 billion in external debt. According to Reuters, Ayres Investment Management LLP, DecisionBoundaries LLC and Perella Weinberg LP are among firms seeking to provide financial advice to Sri Lanka’s creditors as the country heads towards a revamp […]
THE cost of living is a daily state of being, rather than a condensed number for the masses. However, the latest August data depicts dangerous signs for the Government as it heads towards elections. On Tuesday President Mahinda Rajapaksa was seen visiting the drought-hit regions ahead of his campaign trail in the three provinces that ...
By Shamil Samsul Mueen 1. Introduction The global financial crisis has raised imperative issues concerning the stability and reliability of existing financial systems. This has driven an extensive global re-examination on the competence of the existing financial architecture and the search for a more enduring solution. As a result an increasing interest in Islamic finance ...