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Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades.The post Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
Indian tourists visiting Sri Lanka will be able to pay for transactions in Indian Rupees (INR), the Governor of the Central Bank of Sri Lanka Nandalal Weerasinghe said. Delivering a special address in the Webinar on ‘Economic Scenario of Sri Lanka: Current Status and Way Ahead’, organized by Federation of Indian Chambers of Commerce and […]
Celebrating over three decades of service and support to grow microfinance customers across the island, Sri Lanka’s leading private sector bank HNB PLC, revived its annual trade fair and exhibition for Micro, Small and Medium Enterprises (MSMEs) The Gami Pubuduwa Pola 2023. Organised by the bank to showcase up-and-coming businesses in its portfolio, the trade […]
IMF has shown the way and now Sri Lanka has to dig itself out of the mess, says Governor by Sanath Nanayakkare Central Bank Governor Dr. Nandalal Weerasinghe recently said that Sri Lanka needs to build and keep a ‘comfortable level’ of currency reserves in order to maintain the country’s balance-of-payments situation in the event […]
The Central Bank of Sri Lanka (CBSL) has decided to suspend the law imposed by the Central Bank that a certain amount of dollars must be converted into Sri Lankan rupees from Sri Lankans living abroad and those receiving export income from this month.The post Sri Lanka’s Central Bank rule on Dollar conversion suspended appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ON...
Sri Lanka's national carrier has been struggling against even more headwinds than many of its rivals.The post Sri Lanka airline boss says ‘don’t be a CEO during Covid’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Janatha Aragalaya: The People’s Struggle In Sri Lanka appeared first on Colombo Telegraph.
Sri Lankan President Ranil Wickremesinghe announced that the agreement with the International Monetary Fund (IMF) would be presented to Parliament for a vote on whether to support it and that following this vote, the key points of the agreement would be enacted into law.The post Once the Parliament approves IMF agreement, the main points will be passed into law – Sri Lanka President appeared...
Sri Lankan authorities are exploring the possibility of domestic debt optimisation (DDO) operations aimed at liquidity relief while preserving financial stability to avoid further eroding of Sri Lanka’s repayment capacity, the country’s Central Bank said issuing a press release on Thursday night. The Central bank said the DDO would be conducted on a voluntary basis […]
Sri Lanka has a final opportunity to progress and it is imperative for everyone to collaborate in creating a prosperous community for future generations, without resorting to finger-pointing, emphasized President Ranil Wickremesinghe.The post Sri Lanka President says ‘this is our last chance to forge ahead’ appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA ...
Sri Lanka will kick off a reworking of part of its domestic debt next month and aims to finalise it by May, central bank and treasury officials told creditors during a virtual presentation on Thursday.The post Sri Lanka expects to finalise domestic debt rework by May appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Governor of the Reserve Bank of India (RBI) Shri Shaktikanta Das and the High Commissioner of Sri Lanka to India Milinda Moragoda today discussed enhancing trade using the Indian Rupee. Continuing his engagement with key officials of the Indian Government, the High Commissioner of Sri Lanka to India Milinda Moragoda met with the Governor […]
Sri Lankan President Ranil Wickremesinghe emphasized during an interview organized by Harvard University on the 24th, through Zoom technology, that Sri Lanka’s access to the growing Indian and African markets should not be disrupted by any big power rivalry or conflictThe post Sri Lanka’s access to growing Indian & African markets cannot be disrupted – President Ranil appeared fir...
[…]The post Still On The Rotten Bridge appeared first on Colombo Telegraph.
A popular Zimbabwe preacher who has links with a pastor in Sri Lanka, has denied allegations of corruption after he was accused of gold-smuggling. Issuing a lengthy statement, Presidential Envoy and preacher Uebert Angel, said that the allegations in an Al Jazeera documentary was part of a well-crafted ploy to trap the Ambassador and tarnish […]
[…]The post Jaffna Revisited – Some Quick Impression On Post-War Development appeared first on Colombo Telegraph.
[…]The post Conflict Resolution Might Be The Way Out? appeared first on Colombo Telegraph.
By Shamindra Ferdinando The Japanese embassy and UNICEF (United Nations Children’s Fund, previously known as United Nations International Children’s Emergency Fund), on 16 March, 2023, issued a joint statement that dealt with the impact the developing political-economic-social crisis is having on the poor in Sri Lanka. The statement focused on the suffering of the children […]
President Ranil Wickremesinghe says Sri Lanka is no longer bankrupt after the International Monetary Fund (IMF) approved a loan facility for the country. Making a special statement, President Wickremesinghe said that the approval of the IMF facility for Sri Lanka signals an end of Sri Lanka’s bankruptcy status. President Ranil Wickremesinghe emphasised that Sri Lanka […]
Sri Lanka President Ranil Wickremesinghe emphasised that Sri Lanka is no longer considered as a bankrupt country by the world.The post Sri Lanka can no longer be considered a bankrupt country – President appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post ‘Contemporary Issues In Socio-Economic Development’: A Timely Publication By Kelaniya University appeared first on Colombo Telegraph.
India says under its ‘Neighbourhood First’ policy it has always come forward to help debt-ridden Sri Lanka, and in the latest instance New Delhi has distributed rations in Kalmunai. Taking to Twitter, the High Commission of India in Colombo said, “Support by @IndiainSL to needy sections continues!! Glimpses of ration distribution in Kalmunai.” The cash-strapped […]
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 […]
Sri Lanka is negotiating with India to extend a $1 billon credit line by a few months, two sources told Reuters, as the island nation tries to line up funds for the rest of the year while the IMF looks set to approve a $2.9 billion loan for it soon. The credit line is to […]
In a major breakthrough, Sri Lanka has received a financial assurance letter from the Exim Bank of China and the letter of agreement has been sent to the International Monetary Fund (IMF). President Ranil Wickremesinghe told Parliament that he received the financial assurance letter from the Exim Bank of China last night and he and […]
[…]The post President Ranil Wickremesinghe’s Special Statement – Full Text appeared first on Colombo Telegraph.
China has given assurances that it will support Sri Lanka’s debt restructuring, clearing the biggest hurdle for the South Asian nation to secure a $2.9 billion bailout from the International Monetary Fund (IMF).The post China gives assurances to the IMF that it will support Sri Lanka’s debt restructuring appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Supreme Court Shows Democratic Route To Government appeared first on Colombo Telegraph.
India is pushing for the use of Indian Rupees (INR) for economic transactions between India and Sri Lanka. The High Commission of India recently organised a discussion on the use of INR for economic transactions between India and Sri Lanka. Representatives from the Bank of Ceylon, State Bank of India and the Indian Bank shared […]
By Jehan Perera The economy is beginning to give indications of macro stability which President Ranil Wickremesinghe has made his primary objective. The most visible of these is the appreciation of the rupee against the dollar and other international currencies which signals a shift from the previous trend of depreciation. Over the past year the […]