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Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.The post Sri Lanka’s economy shrinks 8.4% amid fertiliser, fuel shortages appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ...
Basically there is a limit to what can be shared with the public or parliament
The Health Ministry spends nearly 40% of the Ministry’s expenditure on medicines to purchase medicines for cancer patients, it was revealed at a meeting with the President.The post Health sector needs an urgent policy change – President appeared first on ONLANKA News :. Sri Lanka Latest Breaking News Updates - Sri Lanka News.
; The International Monetary Fund (IMF) on Thursday announced that it will provide […]
Fears have been raised of patients reducing hospital visits owing to high drug prices. The concerns were raised during a meeting between the Government Medical Officers’ Association and President Ranil Wickremesinghe. The report of a three-member committee appointed by the Government Medical Officers’ Association to look into the shortage of drugs in the country was […]
Sri Lanka’s former president, Gotabaya Rajapaksa, who fled the country in July after tens of thousands of protesters stormed his home and office in a display of anger over the country’s economic crisis, has returned to the country after seven weeks.The post Sri Lanka’s ousted president Gotabaya Rajapaksa returns home after fleeing appeared first on ONLANKA News :. Sri Lanka Latest Breaking N...
The budget is aimed at almost doubling the tax-to-GDP ratio to 15 percent by 2025 from 8.2 percent.
Wickremesinghe is budgeting in a sea of monetary instability
A team from the International Monetary Fund (IMF) will meet Sri Lanka's president on Wednesday for talks to finalise a bailout package, including restructuring debt of about $29 billion, amid the nation's worst financial crisis in more than seven decades.The post IMF team to holds talks with crisis
‘Inflation will not be as high as initially expected’ Inflation will not be as high as initially expected and there are signs of economy stabilising, Central Bank Governor Dr. Nandalal Weerasinghe says.Dr. Weerasinghe said that during the past few months a number of initiatives had been made to improve the economy and they were yielding […]
Calls for unity in a country torn apart by nationalism and monetary instability
The Government and the Central Bank of Sri Lanka (CBSL) have been implementing several measures to ease the burden of the current economic hardships on the people. One major factor that is contributing to the current crisis and the resultant hardships is the lack of foreign exchange liquidity in the banking system. Such shortage of […]
We need to only remind ourselves of what happened to Greece and China (KMT) - D S Sennayake
Hambantota in southern Sri Lanka housed ousted President Gotabaya Rajapaksa following the recent crisis, until he was forced to flee the country entirely. That continues a trend of the city, and especially its strategic deep-sea port, being in the news for all the wrong reasons. In 2017, when Sri Lanka found itself struggling to make […]
The government defaulted an interest payment of 78 million US dollar of a sovereign bond on May 19
Indian billion dollar credit line also works Undiyal fashion
[…]The post 9th July Revolution Ousted Rajapaksa Dynasty; So, Let It Imprimatur appeared first on Colombo Telegraph.
India has surpassed China to become the top lender to Sri Lanka, as the former came to the rescue when Sri Lanka started experiencing some acute shortage of foreign currency from the beginning of the year which reached a breaking point in March causing a complete collapse of the country’s economy.The post India eclipses China to become top lender to debt-laden Sri Lanka appeared first on ONLANKA N...
[…]The post The Destiny Of China’s Colony Of Sri Lanka appeared first on Colombo Telegraph.
Says economy could contract 7-pct in 2022
Sri Lanka’s total debt burden increased to Rs 21.6 trillion by March 2022, Prime Minister Ranil Wickremesinghe told Parliament today. He said that Sri Lanka needs to pay $3.4 billion between June and December this year, $5.8 billion in 2023, $4.9 billion in 2024, $6.2 billion in 2025, $4.0 billion in 2026 and $4.3 billion […]
Prime Minister Ranil Wickremesinghe informed Parliament today that Sri Lanka was facing the threat of hitting rock bottom. He also said that going to the International Monetary Fund (IMF) is the only option Sri Lanka has to resolve the economic crisis. The Prime Minister said that the aim
Talks will continue over the next few days with an IMF delegation already in the island nation, he said.
"China and the United States could work together to help Sri Lanka (to) overcome current difficulties (sp)."
[…]The post IMF – Eagerly Awaited – Desperation Grows! appeared first on Colombo Telegraph.
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed Prime Minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]
[…]The post Depart From The Comfort Zone! appeared first on Colombo Telegraph.
Sri Lanka is compelled to depend on other countries to manage the impacts of economic crisis.
Wickremesinghe is on the spotlight for his performance after accepting Prime Minister post unconditionally.
Prime Minister Ranil Wickremesinghe has warned that the next three weeks will be tough for Sri Lanka. Speaking in Parliament today, the Prime Minister said that the public must use fuel and gas as carefully as possible. He also said that unessential travel should be limited as much as possible. “Therefore, I urge all citizens […]