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The United States has welcomed the in-principle agreement reached between Sri Lanka and the Official Creditor Committee (OCC) on specific financing terms to restructure the island nation s debt in line with the parameters set in the International Monetary Fund (IMF) program.
Sri Lanka's in-principle pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday.The post IMF says Sri Lanka debt deal could help board
- Sri Lanka’s second review of $2.9 billion IMF bailout possible in first half of 2024 – official (Category: Breaking News)
- IMF Team to conduct second review of Sri Lanka’s EFF program in March 2024 (Category: Breaking News)
- IMF board approves first review of Sri Lanka’s nearly $3 billion bailout (Category: Breaking News)
- There is “strong expectation” of Sri Lanka commercial creditor deal: IMF (Category: Breaking News)
Sri Lanka s in-principle pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday.
Official creditors and Sri Lanka have agreed, in principle, on restructuring the country’s debt. The Paris Club said that following the launch event in April 2023, 17 countries formally formed, on May 9, an Official Creditor Committee (OCC) co-chaired by India, Japan and France (as chair of the Paris Club) to respond to the Sri […]
- Official Creditor Committee confirms debt treatment deal with Sri Lanka (Category: Breaking News)
- IMF notes Sri Lanka still in talks with official bilateral creditors (Category: Breaking News)
- Paris Club provides financing assurances to IMF on Sri Lanka (Category: Breaking News)
- China only observer in Sri Lanka’s debt restructuring platform (Category: Breaking News)
A group of Sri Lanka's creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan's Jiji News reported on Wednesday, without naming a source or giving any details.The post Creditor nations likely to agree on Sri Lanka debt restructuring – report appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top S...
- Sri Lanka’s creditors hold 1st meeting, with China as observer (Category: Breaking News)
- Japan urges early signing of debt MoU between Sri Lanka and creditors (Category: Breaking News)
- Japan says no pact yet with Sri Lanka on debt restructure talks (Category: Breaking News)
- Sri Lanka’s debt repayments to be suspended until 2028 – NikkeiAsia Reports (Category: Breaking News)
The Lawyers’ Collective (LC) has strongly condemned what it calls President Ranil Wickremesinghe’s attempt to intimidate the Constitutional Council of Sri Lanka.LC has said in a media statement: “The Lawyers’ Collective strongly condemns the recent attempt by President Wickremesinghe to intimidate the Constitutional Council of Sri Lanka. In an authoritarian move, on 23 November 2023, […...
- President Resists Independent Review Of His Nominees To High Posts By Constitutional Council (Category: Breaking News)
- Lawyers’ Collective condemns proposal for poll postponement (Category: Breaking News)
- Wide-ranging proposals on judicial & legal reforms from SJB Lawyers Federation to Sajith (Category: Breaking News)
- GL reiterates CC not part of Executive (Category: Breaking News)
Sri Lanka’s rights abuses flout EU trade benefits requirements By Claudio Francavilla (from Human Rights Watch website) Sri Lanka’s economy has contracted every year since 2019, but exports to the European Union have increased, providing vital income in desperate economic times. This has largely been due to the EU’s Generalised Scheme of Preferences Plus (GSP+), which […]
- Proposed Law Breaks Government Pledge to End Abuse’ – HRW (Category: Breaking News)
- ‘SL should expedite signing FTA with China and expand scope of same instrument with India’ (Category: Breaking News)
- IMF won’t assist if govt. puts off LG polls (Category: Breaking News)
- US Trade Delegation Reviews Labor Rights For GSP (Category: Breaking News)
[…]The post President Resists Independent Review Of His Nominees To High Posts By Constitutional Council appeared first on Colombo Telegraph.
- President resists independent review by CC of his nominees to high posts – Lawyers’ Collective (Category: Breaking News)
- Abolishing The Executive Presidency – Is Time Running Out? (Category: Breaking News)
- That Abstention Vote (Category: Breaking News)
- Democracy Is Founded On Elections: Lawyers Collective Condemns Range Bandara’s Statement (Category: Breaking News)
Sri Lanka has fallen well short of its obligations linked to the EU’s Generalised Scheme of Preferences Plus (GSP+), Human Rights Watch (HRW) said.Sri Lanka’s economy has contracted every year since 2019, but exports to the European Union have increased, providing vital income in desperate economic times. This has largely been due to the EU’s […]
- HRW accuses Sri Lanka of ignoring EU GSP+ requirements (Category: Breaking News)
- HRW says economic crisis puts rights in Sri Lanka in peril (Category: Breaking News)
- HRW sees army probe as a tactic (Category: Breaking News)
- Halt deportation of Tamils says HRW (Category: Breaking News)
Sri Lanka’s central bank signaled it will pause after cutting interest rates for a fourth time this year as the economy gradually recovers from its unprecedented crisis and inflation bottoms out.The post Sri Lanka signals pause after four rate cuts as IMF loan awaited appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka central bank to consider a single policy rate mechanism (Category: Breaking News)
- Sri Lanka’s Central Bank Chief says Money printing has drastically reduced in 2022 (Category: Breaking News)
- Sri Lanka Says Inflation Nears Peak, Easing Pressure on Economy (Category: Breaking News)
- Sri Lanka central bank chief: monetary policy transmission still incomplete (Category: Breaking News)
Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe has revealed that the second tranche of the Extended Fund Facility (EFF) offered by the International Monetary Fund (IMF) is expected to be received in December.
China has been requested to share copies of a letter issued to Sri Lanka on debt restructuring, with other creditors, including the International Monetary Fund (IMF). President Ranil Wickremesinghe said that China had given him a confidential letter on restructuring Sri Lanka’s debt
- Letter To Tiran (Category: Breaking News)
- Sri Lanka receives financial assurance letter from China (Category: Breaking News)
- Gotabaya yet to submit resignation letter (Category: Breaking News)
- President sends resignation letter (Category: Breaking News)
has said. Even the International Monetary Fund (IMF) had not factored in state expenditures when the latest bailout […]
- Eran questions whether country needs so many ministers (Category: Breaking News)
- NPP MP Herath quits PSC appointed to probe causes of bankruptcy (Category: Breaking News)
- Revenue raising measures insufficient to recover SL s financial crisis  SJB (Category: Breaking News)
- Govt. should not deviate from agenda of national needs in discussions to find solutions to crise... (Category: Breaking News)
The agreement reached between Sri Lanka and the Export-Import Bank of China (Exim Bank) is a positive step forward in the island nation s debt restructuring process, the International Monetary Fund (IMF) says.
Rs. 10 billion allocated for potential future elections in Sri Lanka, State Minister for Plantations, Enterprise Reforms and Finance, Ranjith Siyambalapitiya announced.The post Sri Lanka allocated Rs. 10 billion for potential future elections appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- We have Rs.10 Billion to conduct elections in 2023 – Election Commission (Category: Breaking News)
- A budget of Rs. 10 billion has been allocated for the election – State Minister Ranjith Siyambal... (Category: Breaking News)
- Funds for PC and LG polls to be allocated from 2025 Budget? (Category: Breaking News)
- Sri Lanka’s Budget Speech 2024 (Category: Breaking News)
Sri Lanka's consumer price inflation rose to 1% in October year-on-year from 0.8% in September, the statistics department said on Tuesday.The post Sri Lankan inflation rises to 1% in October appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s key inflation rate rises to 1.5% in October (Category: Breaking News)
- CCPI based inflation drops to 66% in October (Category: Breaking News)
- Sri Lanka’s inflation slows down to 70.6% in October 2022 (Category: Breaking News)
- Sri Lanka’s inflation climbed to 60.8% in July – CCPI (Category: Breaking News)
[…]The post Regain A Vision Of Rhe Common Good appeared first on Colombo Telegraph.
- System Change Happening In Wrong Direction (Category: Breaking News)
- Pragmatism Needs Fairness To Be Statesmanlike (Category: Breaking News)
- What The President Can Do Before He Goes (Category: Breaking News)
- Preoccupation With Repression Will Be Counter-Productive (Category: Breaking News)
Sri Lanka, which expects a loan of USD 300 million from the International Monetary Fund (IMF), has imported some commonly grown food such as taro roots (Kiri Ala), garlic, potatoes, tomato, papaw, water melon, long beans, pineapple etc. at a cost of USD 295 million last year, SLPP MP Madura
- Home grown solutions become success for Sri Lanka. (Category: Breaking News)
- President pays homage to Kiri Vehera in New Year (Category: Breaking News)
- Poverty, Aswesuma and food security (Category: Breaking News)
- Lanka food exports surge by 41% to $ 95 m (Category: Breaking News)
Sri Lanka Government's revenue in the first eight months saw a robust 43.5 percent increase.The post Sri Lanka Government revenue surges by 43.5%, yet expanding budget deficit spurs VAT hike appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka tax revenues up 27-pct with galloping inflation, one off levy (Category: Breaking News)
- Sri Lanka’s Tax revenue surpasses Rs. 3 trillion (Category: Breaking News)
- Sri Lanka to increase VAT to 12 percent, telecom levy to 15 percent (Category: Breaking News)
- Controversial Social Security Contribution levy comes into effect (Category: Breaking News)
[…]The post Greenwashing Bond Scams & Financializing Mother Nature: Climate Science Fiction Versus Local Realities appeared first on Colombo Telegraph.
- Of Elections, Bond Scams & Money Politics: The Anatomy Of Default @75 (Category: Breaking News)
- Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-So... (Category: Breaking News)
- A French Spring Amid IMF Mission Creep: Ranil Tangoes In Paris As Macron Pivots To BRICS (Category: Breaking News)
- Debt Restructuring As Rocket Science: The IMF, Green, Blue & Pink-Washing BlackRock? (Category: Breaking News)
Sri Lanka expects to receive the second installment of the loan provided under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) in December, 2023.The post Sri Lanka expects second tranche of IMF loan in December appeared first on ONLANKA - Sri Lanka Latest Breaking News
- Sri Lanka aims to have $2.9 billion IMF loan finalised in December (Category: Breaking News)
- IMF Executive Board considers Sri Lanka’s loan facility for approval today (March 20) (Category: Breaking News)
- IMF third tranche negotiations for Sri Lanka begin tomorrow (Category: Breaking News)
- Exclusive: Sri Lanka expects up to $8 billion more in loans, asset restructuring (Category: Breaking News)
Sri Lanka will call for expressions of interest (EOI) in setting up nuclear power plants, its energy minister said on Friday, as it seeks cheap electricity to support its economic recovery.The post Sri Lanka seeks investors for nuclear power plants appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- CEB seeks 82% increase in electricity tariffs (Category: Breaking News)
- Keheliya Rambukwella seeks bail (Category: Breaking News)
- Sri Lanka seeks 10-year debt moratorium (Category: Breaking News)
- Sri Lanka seeks US$ 6 Billion fuel credit line from Saudi Arabia (Category: Breaking News)
By Shamindra Ferdinando One-rime Secretary of the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) Lacille de Silva yesterday (17) said that leaders of political parties represented in Parliament should set up a committee to study the landmark Supreme Court […]
- Is Speaker’s announcement consistent with SC determination? (Category: Breaking News)
- 22 A: Amendments accepted at ‘committee stage’ should be subjected to SC approval (Category: Breaking News)
- SC makes interim order to provide funds for local elections (Category: Breaking News)
- Opposition asks EC to comply with SC directive (Category: Breaking News)
Minister of Ports, Shipping, and Civil Aviation Mr. Nimal Siripala de Silva, has conveyed that the disbursement of the second instalment of the loan under the extended funding facility provided to Sri Lanka by the International Monetary Fund (IMF) is anticipated to occur in December.
Sri Lanka’s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors a key sticking point with countries like India paving the way for more loans from the International Monetary Fund.The post Sri Lanka gives China deal details, keeping IMF aid on track appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- IMF to visit Sri Lanka in late August for staff-level agreement – Central Bank Governor (Category: Breaking News)
- Sri Lanka to officially present IMF deal, debt restructuring plans to creditors tomorrow (Category: Breaking News)
- Sri Lanka Says Inflation Nears Peak, Easing Pressure on Economy (Category: Breaking News)
- Sri Lanka central bank chief says sovereign lenders yet to outline debt talks plans (Category: Breaking News)
Sri Lanka s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors  a key sticking point with countries like India  paving the way for more loans from the International Monetary Fund.
The targets laid out in Sri Lanka’s 2024 budget, particularly with regards to revenue and fiscal deficit, would be challenging to meet even with the economic recovery that is expected to continue next year, Fitch Ratings yesterday (November 15) said.The post Sri Lanka faces uphill battle in meeting 2024 budget targets: Fitch appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Storie...
- Sri Lanka’s 2024 budget sets ambitious revenue, deficit targets (Category: Breaking News)
- Fitch Ratings warns of risks from political instability in Sri Lanka (Category: Breaking News)
- Fitch downgrades Sri Lanka’s long-term local-currency IDR to ‘CC’ (Category: Breaking News)
- Sri Lanka Government revenue surges by 43.5%, yet expanding budget deficit spurs VAT hike (Category: Breaking News)
Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardena, participating at a media briefing held at the Presidential Media Centre (PMC) on Wednesday (15), under the theme ‘Collective path to a stable country’ said that the existing national debt stands at approximately US $ 36 billion and only 37% of this debt is slated […]
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Successful completion of the foreign debt restructuring process could potentially reduce Sri Lan... (Category: Breaking News)
- Paris Club ready to start debt relief for Sri Lanka (Category: Breaking News)
- US to participate in Sri Lanka’s debt restructuring (Category: Breaking News)
Sri Lanka's State Minister of Finance, Shehan Semasinghe says the anticipated economic growth for the year 2024 is projected at 1.8%.The post Sri Lanka expects 1.8% Economic growth in 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka budget to seek recovery for crisis-hit economy (Category: Breaking News)
- Sri Lanka begins crucial debt restructuring talks with China (Category: Breaking News)
- Cabinet nod to provide rice to 2 million low-income families (Category: Breaking News)
- Sri Lanka ranks 64 on Global Hunger Index 2022 (Category: Breaking News)
[…]The post Postponing Elections & Inviting The Dragon: Sri Lankan President’s China Tilt appeared first on Colombo Telegraph.
- Modi’s Wolf Worrier Diplomacy Opens A Window For China In South Asia (Category: Breaking News)
- Rise Of Ultranationalism & Elections, Tamil Nationalism & Resurrection Of LTTE Ideology In Sri L... (Category: Breaking News)
- Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-So... (Category: Breaking News)
- The Influence Of Sirima Bandaranaike & Ranil Wickremesinghe On The Foreign Policy Of Sri Lanka (Category: Breaking News)
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