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Sri Lanka's central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9 billion International Monetary Fund (IMF) bailout to stabilise its crisis-hit economy.The post Sri Lanka to hold rates as inflation slows slightly
By Ramesh Khan At the beginning of the year 2022, none in Sri Lanka would have thought that the end of the pandemic would not signal the end of misery. Instead, it signaled the advent of misery in forms that had been unknown to the Sri Lankans until now. A country filled with tourist spots, […]
Sri Lanka has postponed a round of debt restructuring talks initially expected to be held on Thursday to allow central bank and treasury officials to provide clarifications sought by the country's creditors, its state minister of finance said.The post Sri Lanka postpones debt restructuring talks, hopes for IMF deal in December appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ...
Sri Lanka needs to implement budget proposals and reform measures to start earning crucial foreign exchange to help stabilise its economy and ensure it does not return to crisis, its central bank chief said on Tuesday.The post Sri Lanka must implement budget proposals to avoid return to crisis
by Prof. Aruna Shanthaarchch (Department of Economics and Statistics Sabaragamuwa University of Sri Lanka) Who are the Middle Class? The term, middle class, has been defined in a variety of ways. Historically, it was a social class characterised by intellectuals, who were neither capitalists nor workers. They were the well-educated service providers and small-scale entrepreneurs, […]
Sri Lanka unveils a budget on Monday attempting to put the South Asian government's finances in order, with reforms to advance a $2.9 global billion bailout from the island's worst financial crisis since independence in 1948.The post Sri Lanka budget to seek recovery for crisis-hit economy appeared
the island nation’s recovery from the unprecedented economic crisis as it is […]
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
By Amal Jayasinghe Inflation in crisis-hit Sri Lanka dipped marginally for the first time in 12 months but prices were still an eye-watering 66 percent higher than a year ago, official data showed Monday. The island nation of 22 million people has suffered months of extreme economic hardship
[…]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
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
By Rebecca Bundhun India’s economy and equity markets are outperforming most of their global peers. Despite a slew of challenges including macroeconomic headwinds stemming from Russia’s war in Ukraine, elevated crude oil prices and tightening liquidity globally, the growth story of Asia’s third-largest economy remains intact. “The Indian economy and equity markets proved to be [&...
[…]The post President Says ‘Raising Direct Taxes Inevitable To Reach IMF Goals’ – A Response appeared first on Colombo Telegraph.
Sri Lanka’s worst post-war economic crisis represents a major blow to the country’s progress towards achieving the United Nations’ Sustainable Development Goals (SDGs), efforts that were already hobbled by the COVID pandemic. However, the situation is also providing impetus to the work of academics
[…]The post Child’s Guide To Ranilnomics: Don’t Ignore The Message Delivered By IPS SOE22 appeared first on Colombo Telegraph.
intensifying global food, energy crisis – World Bank appeared first on Sri Lanka News - Latest Break...
By Meera Sirinivasan As Sri Lankans continue braving their worst economic crisis since Independence, urban poverty on the island has tripled in the last year, from 5% to 15 %, according to a recent World Bank report.Sri Lanka is experiencing “its highest poverty rate since 2009
By SHIHAR ANEEZ Leaving his family and relatives was the hardest decision for Suren. But he had no other option.He never wanted to go abroad for work. An accountant by profession, Suren even had the opportunity to be promoted for a higher post at the private firm he was working at in Colombo. But he was […]
We will give our storage facilities and pipelines for a fee.
Sri Lanka’s 70% inflation is hitting its peak as crippling shortages ease and bailout funds look within reach, yet it’s far from putting the central bank governor at ease.The post Sri Lanka Says Inflation Nears Peak, Easing Pressure on Economy appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Weekend power cuts reduced with rain
Sri Lankan lawmakers began debating a proposed constitutional amendment on Thursday that would trim the powers of the president, a key demand of protesters who are seeking political reforms and solutions to the country’s dire economic crisis.The post Sri Lankan lawmakers debate bill to trim presidential powers appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
By Hiran H. Senewiratne The CSE’s business sentiment was impaired yesterday following the Central Bank raising Rs 16 billion out of a required Rs 75 billion via Treasury Bills at a weekly auction, which amounted to just 22 per cent of the total issued on the previous day. Besides, President Ranil Wickremesinghe’s public statement on […]
[…]The post ‘Make The Economy Scream’: Whither The Asian 21st Century? appeared first on Colombo Telegraph.
[…]The post Continuing Corruption: Begging IMF: Increasing Taxes appeared first on Colombo Telegraph.
Leaving his family and relatives was the hardest decision for Suren. But he had no other option.The post Sri Lankans migrate, work over time, eat less to beat inflation appeared first on EconomyNext.
[…]The post Ranil-Rajapaksa: The Bells Shall Toll For The ‘Hilters’ Of Our Time! appeared first on Colombo Telegraph.
Group A-W will have 1 hour and 20 minutes power cut during the night.
A country’s security is not only ensured militarily but is also secured through food and economic security, Sri Lankan President Ranil Wickremesinghe emphasised.The post A country’s security is not only militarily but economic and food security as well – President appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.