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A year after angry Sri Lankans stormed the president's residence and forced his ouster during a meltdown of the economy, the island's streets are calm, there are no serpentine queues at fuel stations and hours-long power cuts have ended.The post Analysis: A year later, Sri Lanka’s tentative economic recovery eludes the poor appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top S...
- Sri Lanka cabinet approves new electricity tariff without saying what it is (Category: Breaking News)
- Japan to support Sri Lanka’s debt restructuring negotiations (Category: Breaking News)
- IMF team in Colombo this week for first review of Extended Fund Facility (Category: Breaking News)
- Sri Lanka sees forex reserves exceeding $4 billion after fresh funding (Category: Breaking News)
India plans to allow Sri Lanka up to 12 years to repay its debt to help ease the financial burden on the country, India’s Export Credit Guarantee Corporation (ECGC) Ltd’s Chairman-cum-Managing Director M. Senthilnathan said. Sri Lanka, facing its worst economic and political crisis in over seven
- India starts debt-restructuring talks with Sri Lanka (Category: Breaking News)
- India provided nearly $4 billion in food, financial assistance to Sri Lanka (Category: Breaking News)
- India to invest more in Sri Lanka after crisis support of $3.8 Bn (Category: Breaking News)
- Sri Lanka thanks India for giving assurances to IMF for USD 2.9B bailout package (Category: Breaking News)
[…]The post Involuntary & Inequitable DDO appeared first on Colombo Telegraph.
- Sustainable Debt & Unsustainable Democracy (Category: Breaking News)
- Economy, Easter Phoenix & Politics (Category: Breaking News)
- Politics Of Easter Investigation In A Wriggling Economy (Category: Breaking News)
- RW’s Political Rating & Fitch’s Credit Rating (Category: Breaking News)
China is only an observer in Sri Lanka’s debt restructuring platform created by the Paris Club of Creditors along with India and Japan. Sri Lanka hopes that China will assist the country in its bid to restructure the external debt in the ongoing negotiations, Foreign Minister Ali Sabry said. Sabry said negotiations have been progressing […]
- China – Sri Lanka FTA talks stall following disagreements (Category: Breaking News)
- Debt restructuring to be completed before polls (Category: Breaking News)
- Sri Lanka seeks innocent passage for fishermen via Indian waters (Category: Breaking News)
- China’s delays in restructuring the debt have put Sri Lanka in an awkward position. (Category: Breaking News)
Sri Lankan state can’t allow even a small bank to collapse because that will trigger a bank run with a devastating impact on the economy. Governor of the Central Bank of Sri Lanka CBSL) Dr. Nandalal Weerasinghe said, on Thursday night, taking part in a televised discussion. Dr. Weerasinghe said that Domestic Debt Restructuring (DDR) […]
- EPF asked to pay 30% tax unless it participates in domestic debt restructuring process (Category: Breaking News)
- Governance issues, etc., will have to be sorted out to avert further debt restructuring: Verité ... (Category: Breaking News)
- SJB to present amendment to EPF act (Category: Breaking News)
- COPF discusses effect of domestic debt restructuring on EPF (Category: Breaking News)
Banks, which pay taxes over 50%, least affected By Sanath Nanayakkare If the Employees’ Provident Fund (EPF) and other pension funds did not wish to participate in the proposed domestic debt restructuring process, there will be an application of higher annual income tax of 30%, Central Bank Governor Dr. Nandalal Weerasinghe said yesterday. The EPF […]
- CB Governor outlines importance of DDR to protect banks and save overall economy (Category: Breaking News)
- Governance issues, etc., will have to be sorted out to avert further debt restructuring: Verité ... (Category: Breaking News)
- Involuntary & Inequitable DDO (Category: Breaking News)
- Central Bank informs EPF members: “decided to opt for” DDO (Category: Breaking News)
The World Bank yesterday (28) approved USD 700 million in budgetary and welfare support for Sri Lanka.This is the biggest funding infusion into the country since the International Monetary Fund (IMF) bailout package approved in March. Through this funding, the World Bank said it aims to help Sri Lanka implement foundational reforms that restore macroeconomic stability and sustainability, mitigate ...
- Sri Lanka receives $250 Mn as budgetary support from World Bank (Category: Breaking News)
- SL hopes for productive talks at IMF WB spring meetings (Category: Breaking News)
- World Bank to provide $500 mn budgetary support to Sri Lanka (Category: Breaking News)
- Minister Semasinghe paints glowing picture emanating from WB budgetary support (Category: Breaking News)
The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.The post World Bank approves $700 Million for crisis-hit Sri Lanka appeared
- World Bank set to approve $700 Million for Sri Lanka next week (Category: Breaking News)
- World Bank to provide $500 million budget support to Sri Lanka (Category: Breaking News)
- No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank (Category: Breaking News)
- Sri Lanka budget to seek recovery for crisis-hit economy (Category: Breaking News)
[…]The post DDR & The Moral-Cum-Political Question appeared first on Colombo Telegraph.
- Restructuring The Economy: A Stock Take (Category: Breaking News)
- Sustainable Debt & Unsustainable Democracy (Category: Breaking News)
- Involuntary & Inequitable DDO (Category: Breaking News)
- Political Buddhism & Corruption: The Unholy Twins (Category: Breaking News)
Sri Lankan tea prices that had been piping hot have cooled off as production in the world’s fourth-largest tea grower begins to recover.The post Sri Lanka tea prices dip 40% from record high on production rebound appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Prices of cup of plain tea and milk tea reduced (Category: Breaking News)
- Sri Lanka tea industry to fully recover next year, says minister (Category: Breaking News)
- Leaf Trend (Category: Business)
- Crop Condition (Category: Business)
Expressing strong opposition to the proposed domestic debt restructuring programme announced by the government, Prof. G. L. Peiris, MP, yesterday (26) accused the Wickremesinghe-Rajapaksa administration of being insensitive and irresponsible in addressing the issue. Instead of working on a social security net to protect the needy, the government was taking a dangerous path that would […]
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- JVP moves SC to prevent possible losses to EPF, ETF (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
Debt-laden Sri Lanka will unveil its domestic debt restructuring strategy this week, central bank chief P Nandalal Weerasinghe said on Sunday (Jun 25), as the island navigates its worst financial crisis in decades. Sri Lanka will also likely obtain Cabinet and parliamentary approval for the debt
- CB warns of catastrophic consequences if banking sector collapses (Category: Breaking News)
- Sri Lanka’s sovereign lenders yet to outline debt talks plans (Category: Breaking News)
- Sri Lanka to announce debt restructuring strategy in April (Category: Breaking News)
- CBSL Governor refuses to resign over pay hike issue (Category: Breaking News)
ECONOMYNEXT –Sri Lanka has been moving forward in bilateral debt negotiations by talking to individual creditors despite a clearly defined process for dealing with Paris Club and other creditors, President Ranil Wickremesinghe had said last week. Sri Lanka was following a ‘debtor led’ strategy by reforming the economy and also aiming at a ‘highly efficient […]
- No queues because we have stopped repaying our debt, but we’ll be back in trouble when repayment... (Category: Breaking News)
- India greatly sensitive to needs of Lanka – PM Modi (Category: Breaking News)
- President tells Arab envoys Lanka wants immediate ceasefire in Gaza (Category: Breaking News)
- President wants Lanka to be first in South Asia to join RCEP, largest trade bloc in history (Category: Breaking News)
[…]The post Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? appeared first on Colombo Telegraph.
- Planning For A Year Of Elections (Category: Breaking News)
- Is State Owned Temasek A Useful Concept For Sri Lanka? (Category: Breaking News)
- To Be Realistic, There Are Only Two Options (Category: Breaking News)
- Liberal Or Edible Economics: Global Disorder Worst In A Century (Category: Breaking News)
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.
- Government land policy is fair- Keheliya (Category: Breaking News)
- Bond Auction (Category: Business)
- ‘SL will implement home-grown solution’ (Category: Breaking News)
- Market Flavour (Category: Business)
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran
- Sri Lanka settles US$ 20 million Iranian oil debt with tea (Category: Breaking News)
- Sri Lanka set to start tea-for-oil barter with Iran next month (Category: Breaking News)
- Lankan, Iranian officials discuss how to boost SL tea exports (Category: Breaking News)
- Iran to double tea imports from SL (Category: Breaking News)
Friday 23rd June, 2023 SriLankan Airlines came under a scathing attack in Parliament on Wednesday. In what turned out to be a rare moment of unity among warring political parties, both sides of the House joined forces to bash the so-called national carrier left, right and centre. Not that the beleaguered airline does not deserve […]
- Cabinet nod to lease up to 11 aircraft for SriLankan (Category: Breaking News)
- SOEs Restructuring Unit to study and make recommendations on SriLankan (Category: Breaking News)
- More than 10 SriLankan flights delayed today, at least 3 cancelled (Category: Breaking News)
- SriLankan Airlines double daily flights between Colombo and Mumbai (Category: Breaking News)
By Prabhat Patnaik After Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis. It has asked for a $4.5 billion loan from the IMF, apart from $1 billion from the World Bank and $2.5-3 billion from multilateral agencies
- A stitch in time saves nine - Facing the short-term economic challenges (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
- After Lanka and Pakistan, now Bangladesh lines up before IMF for bailout (Category: Breaking News)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
By Shamindra Ferdinando UNDP Resident Representative in Colombo, Azusa Kubota, accompanied international expert on parliamentary development, Kevin Deveaux, to meet Speaker Mahinda Yapa Abeywardena at the Parliament on 14th June. They were joined by Policy Expert and Head of Governance, UNDP Colombo, Chandrika Karunaratne. Japanese national Kubota took over the UNDP mission in Colombo in […]
- Lacille poses pertinent questions to Parliament, UNDP (Category: Breaking News)
- Where have millions of USD invested in good governance and accountability projects et al gone? (Category: Breaking News)
- Impact of foreign-funded projects on Parliament’s standing as sole sovereign and supreme body (Category: Breaking News)
- US hand in GR’s ouster: Speaker finally confirms allegations (Category: Breaking News)
The Sri Lanka Government has not yet taken a final decision regarding the domestic debt optimization programme, Minister of State for Finance Shehan Semasinghe said.The post Sri Lanka Government has not taken a final decision yet regarding domestic credit optimization – Minister of State for Finance appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka ...
- Don’t be fooled by false advertising – Minister of State for Finance (Category: Breaking News)
- No move to restructure domestic debt – State Minister (Category: Breaking News)
- No final decision yet regarding domestic debt optimization - Semasinghe (Category: Breaking News)
- No final government decision yet regarding domestic credit optimization (Category: Breaking News)
[…]The post Paris Summit To Push For Global Debt Reforms & What Sri Lanka Could Bring To The Table appeared first on Colombo Telegraph.
- IMF & Global Debt Crises (Category: Breaking News)
- Of Elections, Bond Scams & Money Politics: The Anatomy Of Default @75 (Category: Breaking News)
- Debt Restructuring As Rocket Science: The IMF, Green, Blue & Pink-Washing BlackRock? (Category: Breaking News)
- Child’s Guide To Debt Restructuring: Not A Cakewalk But A Task Entailing Hard Work (Category: Breaking News)
The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March. The economy of the country of 22 million is expected
- Sri Lanka and China’s EXIM Bank discuss debt restructuring exercise (Category: Breaking News)
- Top social media video creator/comedian promotes Sri Lanka (Category: Breaking News)
- Sri Lanka receives 1st disbursement of US$ 250 million from WB (Category: Breaking News)
- US to explore areas to support Sri Lanka (Category: Breaking News)
The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March.The post World Bank set to approve $700 Million for Sri
- World Bank to provide $500 million budget support to Sri Lanka (Category: Breaking News)
- World Bank provides loan to strengthen healthcare in Sri Lanka (Category: Breaking News)
- No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank (Category: Breaking News)
- World Bank’s IFC to provide Sri Lanka with $400 million financing (Category: Breaking News)
ලබන සතියේදී ශ්රී ලංකාව වෙනුවෙන් ඩොලර් මිලියන 700ක අරමුදලක් ලෝක බැංකුව විසින් අනුමත කිරීමට නියමිත බව රොයිටර්ස් පුවත් සේවය වාර්තා කර තිබෙනවා. “COLOMBO, June 19 (Reuters) – The WorldThe post ලෝක බැංකුවෙන් ඩොලර් මිලියන 700ක් ? appeared first on ITN News.
- මොහුව කොහේදී හරි දුටුවාද? (Category: Sinhala)
- බදාදා (10) විදුලි කප්පාදු කාලසටහන : අද පැයක් (Category: Sinhala)
- ඕස්ට්රේලියාවේ ආර්ථිකය වේගවත් ලෙස වර්ධනය වෙයි (Category: Sinhala)
- අගමැතිතුමාගේ අලුත් අවුරුදු පණිවුඩය (Category: Sinhala)
Sri Lanka's economy (LKGDP=ECI) shrank 11.5% in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades.The post Sri Lanka’s economy shrinks 11.5% in first quarter as financial crisis continues appeared
- Sri Lanka balances polls and crisis recovery in 2024 budget deliberations (Category: Breaking News)
- Sri Lanka economy could shrink by -3.5% to -4%, president says (Category: Breaking News)
- At least 17 people hospitalized after massive fire in Pettah (Category: Breaking News)
- Sri Lanka to start next round of talks with creditors in April (Category: Breaking News)
Thursday 15th June, 2023 Sri Lanka Customs has reportedly informed the government that it will not be able to meet its revenue targets due to the existing ban on vehicle imports. It has suggested that a foreign credit line be opened for the import controls at issue to be eased. But the question is why […]
- Remove ban on vehicle imports – Customs… (Category: Breaking News)
- Sri Lanka Customs deems import restrictions on vehicles a hindrance to revenue (Category: Breaking News)
- Import restrictions further relaxed (Category: Breaking News)
- Vehicle imports increase (Category: Breaking News)
Sri Lanka's President Ranil Wickremesinghe is likely to discuss the crisis-stricken nation's debt with Paris Club members on the sidelines of a trip to France next week, sources familiar with the matter told Reuters on Tuesday.The post Sri Lanka president to hold debt talks on France visit –
- Sri Lanka could wrap up debt restructure talks by Sept, president says (Category: Breaking News)
- India expected to send ‘positive’ message on debt during Jaishankar’s visit to Sri Lanka (Category: Breaking News)
- Sri Lanka President Ranil Wickremesinghe leaves for UK and France on official visit (Category: Breaking News)
- Sri Lanka President to hold talks with Tamil National Alliance ahead of India visit – report (Category: Breaking News)
[…]The post FDIs – BOIs & Exchange Crisis appeared first on Colombo Telegraph.
- Shocking & Damaging Performance Of BOI In Front Of COPF: Sack All The BOI Senior Staff To Save T... (Category: Breaking News)
- Fly Highdream Big (Category: Breaking News)
- India Is Over The Moon, Ranil Wants Sri Lankan Children Taught Hindi & Chinese (Category: Breaking News)
- Budget Woes; How Soon Will Titanic Touch The Bottom? (Category: Breaking News)
By Y P Prakash The current state of Sri Lanka evokes memories of India’s experience in the 1990s, although India was able to rectify the situation before it escalated to a critical level akin to a Bastille-like crisis. By 1991, India found itself on the brink of sovereign default. The Gulf
- India – Sri Lanka Strengthen Trade and Connectivity with Daily Chennai-Jaffna Flights (Category: Breaking News)
- Sri Lanka’s energy sector at risk: Calls for diversification amidst Chinese investments (Category: Breaking News)
- India’s aerial capabilities undergoing substantial expansion and advancement (Category: Breaking News)
- Breaking Barriers: Sri Lanka’s Ambitious Vision for Regional Energy Integration and Grid Connect... (Category: Breaking News)
A highly appreciative skill of the Pakistani administration is their extensive theatricals which can deceive the most intelligent of men. Lengthy speeches in the parliament are converted into minutes packed with wise counsel. After collecting enough praises and spewing venom on the opposition, they end up ultimately doing what they would do anyway — putting […]
- Pakistan’s election chaos casts shadow on next IMF deal (Category: Breaking News)
- IMF promises Pakistan ‘immediate’ release of $1.1bn loan after key meet (Category: Breaking News)
- Pakistan, IMF reach staff-level deal to release $1.1bn from bailout package (Category: Breaking News)
- Target Tool (Category: Business)
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