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Public employees at Sri Lanka's ports, hospitals, schools, and railways went on strike on Wednesday to protest against high costs of living as the country struggles to recover from a severe financial crisis.The post Sri Lanka’s public workers strike to press for lower taxes, power bills appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
By Shamindra Ferdinando President Ranil Wickremesinghe, who is also the Finance Minister, recently named three persons – all women -whose intervention supposedly brought relief to bankrupt Sri Lanka. UNP leader Wickremesinghe paid glowing tributes to Indian Finance and Corporate Affairs Minister Nirmala Sitharaman, US Secretary of State Janet Yellen, and IMF Managing Director and Chairman [&...
India extend its assistance to Sri Lanka without waiting on others During a recent visit by the Indian External Affairs Minister Dr. Jai Shankar to Sri Lanka, Foreign Minister Ali Sabri expressed his deep appreciation and gratitude to India on behalf of President Ranil Wickremesinghe and the government and people of Sri Lanka, for assisting […]
Sri Lanka needs institutional reforms in order to achieve long-term debt sustainability, said Steve Hanke, who played a key role in establishing new currency regimes in emerging markets like Argentina and Montenegro.The post Sri Lanka needs institutional changes for long-term debt sustainability, expert says appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Minister of Power and Energy Kanchana Wijesekera says that steps will be taken to provide about 36,000 new connections that have been delayed due to the financial crisis in the Ceylon Electricity Board (CEB) within a period of 06 weeks.
India had helped Sri Lanka more than any other country, especially, Sri Lanka’s Foreign Minister Ali Sabry said during Raisina Dialogue ‘Ideas Pod.’ While the Indian government took some bold decisions to help Sri Lanka face its economic crisis, even the Indian public came forward to support Sri Lanka, the country’s foreign minister said in […]
By Akitha Perera and Ranil Dharmasena The government no longer provides the nutrition pack for pregnant women who earn more than Rs 50,000 a month and a large number of women including government servants were adversely affected by the decision, Opposition leader Sajith Premadasa told Parliament on Thursday. Premadasa said that women had been adversely […]
Multilateralism is in crisis today and the failure of the global architecture of governance is affecting developing countries the most, Prime Minister Narendra Modi said on Thursday in his address to the first foreign ministers’ meeting of G20 nations in 2023. “The architecture of global governance created after the Second World War was to serve two functions: First, to […]
which coordinate the preparation and management of the financial crisis between the Central […]
The International Monetary Fund (IMF) on Tuesday said Sri Lanka had secured financing assurances from all its major bilateral creditors, paving the way for the IMF board to consider approval of a long-awaited $2.9 billion four-year bailout.The post IMF board poised to approve $2.9 billion Sri Lanka bailout appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka's central bank raised interest rates in an unexpected move on Friday in a bid to help the country secure a bailout package from the International Monetary Fund (IMF) to stabilise its crisis-hit economy.The post Sri Lanka unexpectedly raises rates to fulfil IMF bailout requirements appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post IMF’s Prescription: Panacea Or Palliative? appeared first on Colombo Telegraph.
Sri Lanka's key inflation rate eased to 50.6% in February from 51.7% in January, the statistics department said on Tuesday, as food prices eased.The post Sri Lanka’s key inflation rate eases to 50.6% in February appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Why Should We Beg IMF? – When More Than $36 Billion To Be Recovered appeared first on Colombo Telegraph.
The International Finance Corporation (IFC), the World Bank’s investment arm, said it will provide Sri Lanka with a $400 million cross-currency swap facility to help fund essential imports.The post World Bank’s IFC to provide Sri Lanka with $400 million financing appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Islamabad , February 20 (ANI): The experience of Chinese companies working on the ground in Pakistan has been far from pleasant. Most of the early China – Pakistan Economic Corridor investments were in the power sector. The investments, however, created sizeable liabilities on the future cash flows of these projects, Indo Pacific Centre for Strategic […]
[…]The post Sri Lanka’s Asian Heritage appeared first on Colombo Telegraph.
Facing a dire national financial crisis and an urgent need to generate foreign currency income, state-owned SriLankan Airlines (SL) is restructuring and expanding its network to markets that were strong in the pre-Covid period, including Australia, and China.
Sri Lanka is tangled in the worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange that forced the country to annouce a suspension of foreign debt repayments in April 2022.
Sri Lanka is tangled in the worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange that forced the country to annouce a suspension of foreign debt repayments in April 2022.The post Sri Lanka to make $2.6 billion in loan repayments in first half
By Maleeha Lodhi PAKISTAN’S bane has long been a narrow, oligarchic power elite that has dominated its politics and controlled its economy at the cost of people’s welfare and the country’s progress and development. Its entrenched position over decades meant that governance challenges multiplied with force and intensity, leaving the country with daunting problems of […]
Excerpted from volume ii of Sarath Amunugama autobiography I was lucky both as Permanent Secretary and a researcher in the field of family planning to spend time in the east coast which is one of the loveliest parts of Sri Lanka, with its pristine beaches and a large swath of blue sea. The Information department […]
[…]The post Warning Signal To RW’s Transformation Agenda appeared first on Colombo Telegraph.
Colombo [Sri Lanka], February 2 (ANI): External Affairs Minister S Jaishankar’s visit to Sri Lanka is being seen as a harbinger of positive developments and an improved economic and financial situation for the island nation. Jaishankar during his visit to Sri Lanka reasserted India’s pursuit of the ‘Neighbourhood First’ policy and the belief in not […]
Samagi Jana Balawegaya (SJB) MP Eran Wickramaratne has stated that Sri Lanka s financial crisis cannot be addressed merely by revenue raising measures, without the implementation of cost cutting and efficiency increasing measures.
In an unprecedented turn of events, Pakistan’s close allies Saudi Arabia and the UAE have asked Islamabad to forget the Kashmir issue as the country is embroiled in other complex issues that need to be resolved. “Don’t cry for Kashmir” were the innuendos used by the Middle Eastern leaders when Pakistan Prime Minister Shabazz Sharif […]
[…]The post Mahinda Rajapaksa, Ministers, Tri-Services/Police, Corporates Owe Massive Amount In Electricity Bill Payments, RTI Disclosures Show appeared first on Colombo Telegraph.
China’s government on Friday confirmed it is offering Sri Lanka a two-year moratorium on loan repayments as the Indian Ocean island nation struggles to restructure $51 billion in foreign debt that pushed it into a financial crisis.The post China confirms two-year debt moratorium offer for Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s international bondholders group was prepared to engage with the island nation’s authorities in debt restructuring talks consistent with the parameters of the IMF Programme, their legal adviser, White & Case LLP, said.The post Sri Lanka bondholders ready for debt restructuring talks with authorities appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News...
Sri Lanka's key inflation rate eased to 54.2% in January from 57.2% in December, the country's statistics department said on Tuesday.The post Sri Lanka’s key inflation rate eases to 54.2% in January appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.