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Sri Lanka has reached an agreement with the Export-Import Bank of China to cover about $4.2 billion of the island nation's outstanding debt, its finance ministry said in a statement on Thursday.The post Sri Lanka says it has deal with China EXIM bank covering $4.2 billion of debt appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka expects the Executive Board of the International Monetary Fund (IMF) to clear the next tranche of IMF financing of about US$334 million to be disbursed following a deal reached between Sri Lanka and China. The Finance Ministry said that the Government of Sri Lanka reached an agreement
Discussions between Sri Lanka and all its creditors are ongoing, though the International Monetary Fund has not been informed about any specific agreements, its mission chief for the country said on Wednesday.The post Sri Lanka’s talks with creditors ongoing, unaware of specific deals –
The International Monetary Fund (IMF) says despite the early signs of stabilization, Sri Lanka s full economic recovery is not yet assured.
Discussions between Sri Lanka and all its creditors are ongoing, though the International Monetary Fund has not been informed about any specific agreements, its mission chief for the country said on Wednesday.
Another team of officials from the International Monetary Fund (IMF) is expected to visit Sri Lanka next week. Minister of Justice, Prisons Affairs and Constitutional Reforms Dr. Wijeyadasa Rajapakshe told the media that the team would hold extensive discussions on the second tranche
China said one of its financial institutions has reached a preliminary agreement with Sri Lanka on resolving China-related debt, a potentially major step toward resolving the South Asian nation’s fiscal woes.The post China says Exim Bank and Sri Lanka reached preliminary debt deal appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has made commendable progress in implementing difficult but needed reforms, but its full recovery is not yet assured, Daniel Leigh, a senior official in the International Monetary Fund s research department, told reporters.
by Saman Indrajith The SJB yesterday proposed that the government reduce taxes on professionals and compensate for the revenue loss by other means such as tackling the problem of counterfeit revenue stickers on liquor bottles. Addressing the media at the Opposition Leader’s Office in Colombo, SJB Colombo District MP and economist Dr. Harsha de Silva […]
[…]The post Sri Lanka: IMF / World Bank – Systemic Reforms Needed appeared first on Colombo Telegraph.
Sri Lanka's central bank resumed interest rate cuts on Thursday to boost growth and as the government seeks to lift revenue and repair its balance sheets in a bid to secure continued financial support from the International Monetary Fund.The post Sri Lanka resumes rate cuts to boost growth as inflation cools appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Minister of Trade, Commerce and Food Security Nalin Fernando expressed optimism about the country’s economic prospects during a press conference on the theme of ‘Collective Path to a stable country, held at the Presidential Media Center on Wednesday (04). He stated that with the government’s efforts to reduce economic contraction, there is a possibility of […]
[…]The post Sri Lanka At A Crossroads: The IMF’s 16-Point Prescription For Reform appeared first on Colombo Telegraph.
Sri Lanka s is facing a big challenge from its largest bilateral lender, China to secure a concrete debt relief framework, as it is blocking access to desperately needed cash bailout of 3 billion US dollars from International Monetary fund, Nikkei Asia reported.
Crisis-hit Sri Lanka will focus on improving tax collection to reduce budget deficits as it streamlines the structure of the tax system, the treasury secretary said on Wednesday, with new legislation planned to improve public finances.The post Sri Lanka aims to streamline tax structure, boost collections appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Saman Indrajith Opposition and SJB leader Sajith Premadasa told Parliament yesterday that Sri Lanka had failed to secure the crucial second tranche of a $3 billion loan from the International Monetary Fund as the country was still being ruled by the same corrupt family regime
The World Bank revised up its forecasts for Sri Lanka's economy on Tuesday, noting the crisis-hit nation had made strides in reducing inflation and had benefited from tourism revenue as well as an appreciation in its currency.The post World Bank boosts Sri Lanka economic forecasts after inflation progress appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The US government said a bondholder’s lawsuit against Sri Lanka over the country’s historic debt default should be put on hold.The post Sri Lanka Bondholder Lawsuit Should Be Put on Hold, U.S. Says appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund (IMF) has recommended sixteen priority actions in its recently released Governance Diagnostic Assessment (GDA) on Sri Lanka to address systematic and severe governance weaknesses and deep-rooted corruption vulnerabilities across State functions in order to unlock
[…]The post Take Great Care To Ensure The Reach Of RTI Commission Is Not Limited By Future Legislation: IMF Tells Government appeared first on Colombo Telegraph.
By SHIHAR ANEEZ ECONOMYNEXT –Sri Lanka’s second tranche of a $3 billion loan from the International Monetary Fund is likely to be delayed as the country has failed to meet the program objective and a global lender’s official said there is no fixed timeline on the disbursement of second tranche. Sri