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By Amal Jayasinghe Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country’s airline top of the list for reform.With nearly 6,000 staff, SriLankan Airlines is the biggest and most expensive of the cash-haemorrhaging, sclerotic […]
Sri Lanka's new government will release the 2023 budget on Monday focused on boosting revenue, implementing tax reforms and fiscal consolidation to secure an IMF bailout package to help the country recover from its worst financial crisis in decades.The post Sri Lanka’s 2023 budget aims
Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country's airline top of the list for reform.The post Turbulence ahead: Airline on the block in Sri Lanka reforms appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Lack of Common Sense Of A Time-Expired President appeared first on Colombo Telegraph.
[…]The post Need To Restrain The Power Of Shadow Finance appeared first on Colombo Telegraph.
[…]The post Sri Lanka: Strategizing Economic Recovery appeared first on Colombo Telegraph.
Sri Lanka said it held a productive meeting with its bilateral creditors, which include India and China, on Thursday as the country looks to restructure its debt and carve a path out of its worst financial crisis in decades.The post Sri Lanka holds debt restructuring talks with bilateral creditors
[…]The post Corruption & Lack Of Common-Sense; Presidential Brutalities appeared first on Colombo Telegraph.
Hundreds of people marched in Sri Lanka's largest city Colombo on Wednesday protesting against higher taxes, inflation and alleged state-led repression as the country struggles to emerge from its worst financial crisis in seven decades.The post Hundreds march in crisis-hit Sri Lanka protesting tax
Sri Lanka's power and energy minister Kanchana Wijesekera said on Tuesday his country was expecting a diesel shipment from China that will possibly arrive by the end of November, as his country faces a deep financial crisis.The post Sri Lanka energy minister: expects diesel shipment from China, possibly by November appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News...
[…]The post President Says ‘Raising Direct Taxes Inevitable To Reach IMF Goals’ – A Response appeared first on Colombo Telegraph.
[…]The post Two Men, Two Cultures appeared first on Colombo Telegraph.
Tax evasion: By Shamindra Ferdinando SLPP MP Mahindananda Aluthgamage yesterday (25) said the Finance Ministry owed an explanation regarding its failure to regulate chartered accountants to increase state revenue. The former minister said so when The Island asked whether the Finance Ministry had cared to verify accusations he made in Parliament on 20 Sept., about […]
Shareholders would be given a rights issue of 100 shares for every existing 423 shares.
Softlogic Finance PLC, a subsidiary of Softlogic Capital PLC, has revealed plans to go for a Rights Issue to raise over Rs. 850mn to infuse fresh capital for adherence with capital adequacy requirements as well as supporting its digitalization drive and business expansion of the Company. The rights issue will be implemented in the proportion […]
Sri Lanka approved legislation on Tuesday to let companies from oil-producing nations import and sell fuel as it attempts to cope with a steep oil bill that deepened its worst financial crisis in decades.The post Sri Lanka approves law to liberalize petroleum imports appeared first on Sri Lanka
Malnutrition has increased rapidly in Sri Lanka due to unprecedented economic crisis
[…]The post IMF Must Become More Than Just A Debt Collector For Private Creditors appeared first on Colombo Telegraph.
International, calls for accountability for the island nation’s leadership for its worst financial crisis [&#...
Sri Lanka’s economic crisis is deepening with unsustainable debt and a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic and debt restructuring and the implementation of a deep reform program are critical for Sri Lanka’s economic stabilization, says the World Bank in its twice-a-year update, underscoring the need for Sri Lanka to build resilience.The post Debt res...
The World Bank warned that Sri Lanka’s economic crisis is deepening with unsustainable debt and a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic. Debt restructuring and the implementation of a deep reform program are critical for Sri Lanka’s economic stabilization, says the World Bank in its twice-a-year update, […]
September tourist arrivals have plunged to lowest in 11 months.
Sri Lanka's central bank is likely to maintain interest rates on Thursday in an effort to get a grip on inflation which has remained stubbornly high despite a sharp contraction in the crisis-hit economy.The post Sri Lanka Central Bank to hold rates as inflation worries persist appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
A key measure of Sri Lanka's consumer inflation surged to an annual record 69.8% in September, official data showed on Friday, highlighting the challenge for the central bank as the island reels under its worst financial crisis in seven decades.The post Sri Lanka’s key inflation rate surges
Unlike the financial crisis of 2008, the economic levers alone were insufficient to stimulate global economic recovery in 2022 as what had led to the current crisis was the consequences of evolving geopolitics, President Ranil Wickremesinghe said on Thursday at the ADB’s 55th annual meeting. “
Wickremesinghe says Sri Lanka is taking some painful reforms to come out of economic crisis
The Asian Development Bank (ADB) is ready to provide further financial support to Sri Lanka, a top official of the regional lender said on Tuesday, as the Indian Ocean nation battles its worst economic crisis in more than seven decades.The post Asian Development Bank vows more help for crisis-hit Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Appellants Asked To Give Affidavits To The RTI Commission As First Step To Prosecution Under RTI Act appeared first on Colombo Telegraph.
Dozens of people have died after a boat carrying migrants and refugees from Lebanon capsized off Syria’s coast, according to the Syrian and Lebanese governments.On Friday, the Lebanese transport minister said that 71 people had died in Thursday’s disaster.The Syrian government had previously said that 20 survivors were being treated in Basel hospital in Tartous.The […]
BY Consultant Family Physician, Dr. S. Kumaran, and Viduni Basnayake This article describes the experiences of a novel, evidence-based approach that involves patients, and their family members, in delivering health care, providing medical education, and conducting research, at a primary care institution, called a Family Health Care Centre. The Northern Province, in Sri Lanka, is […]