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President Ranil Wickremesinghe today revealed China’s refusal to agree to the same conditions placed by India and the Paris Club when restructuring Sri Lanka’s debt. He said that the International Monetary Fund (INF) had proposed that all of Sri Lanka’s main creditors reach
- Former UK PM David Cameron holds talks with RW (Category: Breaking News)
- President says money wasted on CEB, CPC, SriLankan (Category: Breaking News)
- Government will not remove anyone owing to protests (Category: Breaking News)
- China asked to share copies of letter on Sri Lanka debt restructuring (Category: Breaking News)
Sri Lanka President Ranil Wickremesinghe emphasised the importance of having a proper plan to strengthen the country’s economy, during a meeting with businessmen and lawyers in the Kandy district.The post Having Proper plan to strengthen Sri Lanka’s economy is important – President appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Initial steps taken through budget to strengthen economy under five-year plan – President (Category: Breaking News)
- Sri Lanka President says Let 2048 be the year of development for Sri Lanka (Category: Breaking News)
- Once the Parliament approves IMF agreement, the main points will be passed into law – Sri Lanka ... (Category: Breaking News)
- President calls Opposition Party Leaders for crucial meeting on IMF proposals (Category: Breaking News)
President Ranil Wickremesinghe says a loan under the International Monetary Fund (IMF) Extended Fund Facility (EFF) is expected to be received in March. He expressed these views during a meeting held with small and large-scale rice mill owners at the Presidential Secretariat, the President’
- Sri Lanka President expects IMF Extended Fund Facility in March (Category: Breaking News)
- Government to provide 10 kg of rice to 2 million families (Category: Breaking News)
- IMF wants Sri Lanka to restore debt sustainability (Category: Breaking News)
- Northern Province to produce food to feed the country (Category: Breaking News)
The economic and financial condition of Sri Lanka is very precarious at the moment. It has been facing the worst economic crisis since its independence in 1948. The Sri Lankan economy is going through a high rate of inflation, a shortage of essential commodities including fuel and medicines, and a depleted foreign exchange reserve insufficient […]
- China holds key to Sri Lanka’s debt restructuring to ease economic crisis (Category: Breaking News)
- Sri Lanka president wants China to dramatically change stance on debt relief (Category: Breaking News)
- Sri Lanka must avoid China’s debt restructuring as Beijing is to seek preferential treatment (Category: Breaking News)
- US Treasury Secy assures support for Sri Lanka’s debt restructure: president’s office (Category: Breaking News)
ECONOMYNEXT –Sri Lanka still needs adequate assurances from other bilateral creditors for its program to be approved, the International Monetary Fund said, after Paris Club lenders said they will re-structure debt. “We welcome the recent statement by the Paris Club to provide financing
- USD 2.9bn IMF loan facility: Govt. confident of completing process early next year (Category: Breaking News)
- Nuland accuses China of failing to help SL with ‘credible and specific assurances’ acceptable to... (Category: Breaking News)
- Minister Sabry praises India for being first country to support Lanka’s debt restructuring (Category: Breaking News)
- IMF says 2.9bn loan bailout for Sri Lanka tied to debt relief from bilateral creditors (Category: Breaking News)
Pakistan is gripped by a major economic crisis, with the rupee plummeting, inflation soaring and energy in short supply as IMF officials visit to discuss a vital cash injection.The post ‘We’ll end up like Sri Lanka’: Pakistan stares at economic collapse as IMF visits appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka needs laser-like focus on IMF programme implementation: Dr. Indrajit Coomaraswamy (Category: Breaking News)
- IMF eyes creditor assurances as it prepares Sri Lanka visit (Category: Breaking News)
- Sri Lanka, Russia continue talks on loan for Russian oil products (Category: Breaking News)
- Jaishankar conveys India’s commitment to increase investment flows to Sri Lanka to hasten econom... (Category: Breaking News)
The International Monetary Fund (IMF) has approved loans of $4.7 billion to Bangladesh for disbursal starting immediately, making it the first to secure such funds out of three South Asian countries that applied last year amid economic trouble.The post Bangladesh secures $4.7 billion from IMF
- Bangladesh secures loans of $4.7 billion from IMF (Category: Breaking News)
- IMF insists on creditor assurances to unlock $2.9 Billion Sri Lanka bailout (Category: Breaking News)
- Bangladesh seeks $4.5 billion IMF loan as deficit widens (Category: Breaking News)
- Sri Lanka confident of meeting conditions for IMF funding soon – report (Category: Breaking News)
Sri Lanka's Central Bank Governor Dr. Nandalal Weerasinghe said regardless of the future elections, he wants to see a continuation of the economic reform path the country has embarked on, as it is the only way to come out of the current crisis.The post Sri Lanka’s Central Bank insists on staying on reform path regardless of election outcome appeared first on Sri Lanka News - Latest Breaking ...
- IMF process should continue whoever is in power – Central Bank Governor (Category: Breaking News)
- Sri Lanka will have to go for another DDO strategy if targets of current plan not achieved – CBS... (Category: Breaking News)
- Sri Lanka must implement budget proposals to avoid return to crisis (Category: Breaking News)
- Sri Lanka’s Central Bank Governor explains debt restructuring process (Category: Breaking News)
India and Sri Lanka have been able to address the impact of a Chinese surveillance vessel’s visit to Hambantota port last year and Colombo is looking to New Delhi to help drive economic recovery through investments in key sectors such as energy, Sri Lankan envoy Milinda Moragoda said.The post Jaishankar’s visit reset bilateral relations, says Sri Lankan envoy appeared first on Sri Lanka News...
- Sri Lanka-India cooperation will heavily focus on connectivity, investment - Envoy (Category: Breaking News)
- HC Moragoda meets India s Petroleum Minister for bilateral energy cooperation (Category: Breaking News)
- India steps up internationalisation of INR for Sri Lanka s economic recovery (Category: Breaking News)
- Sri Lanka, India to sign power grid linking pact within two months – envoy (Category: Breaking News)
While implementing complex programmes such as the International Monetary Fund (IMF), difficult decisions related to it should be implemented regardless of who is in power, Central Bank Governor Dr. Nandalal Weerasinghe said on Wednesday (January 25).The post IMF process should continue whoever
- Sri Lanka’s Central Bank Governor asks critics to provide alternatives (Category: Breaking News)
- Sri Lanka to introduce new central bank law, inflation target (Category: Breaking News)
- IMF to visit Sri Lanka in late August for staff-level agreement – Central Bank Governor (Category: Breaking News)
- Sri Lanka’s Central Bank Chief says Money printing has drastically reduced in 2022 (Category: Breaking News)
India formally notified that it would support Sri Lanka’s debt restructuring plan, clearing a major hurdle for the bankrupt nation to unlock a $2.9 billion bailout from the International Monetary Fund, Bloomberg reported citing a person with knowledge of the matter.The post India formally notifies
- India ‘strongly supports’ Sri Lanka debt restructuring plan, it tells IMF (Category: Breaking News)
- Sri Lanka’s debt restructuring: China expected to inform its support to IMF today (Category: Breaking News)
- China assures commitment towards Sri Lanka’s debt restructuring process (Category: Breaking News)
- Sri Lanka postpones debt restructuring talks, hopes for IMF deal in December (Category: Breaking News)
President Ranil Wickremesinghe has said that India’s response to cash-strapped Sri Lanka’s request for debt restructuring is expected by the end of this month. Sri Lanka, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), has been trying
- IMF says G20 Common Framework delivering for Sri Lanka (Category: Breaking News)
- Exim Bank of China and Sri Lanka discuss debt issue (Category: Breaking News)
- Interim-budget which meets IMF expectations presented to Parliament (Category: Breaking News)
- Indian Foreign Minister to arrive in Sri Lanka next week (Category: Breaking News)
Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore blocks for foreign firms to scout for energy resources and bring in vital investments to the crisis-hit country, a top official told Reuters on Thursday.The post Sri Lanka finalises oil exploration rules, earmarks 900 offshore blocks appeared first on Sri Lanka News - Latest Breaking News in Sri L...
- SL to offer tenders for oil exploration in 5 blocks: Premajayantha (Category: Breaking News)
- Sri Lanka finalises regulations for offshore oil gas exploration investments (Category: Breaking News)
- Tenders for Oil Exploration (Category: Breaking News)
- Sri Lanka to broaden offshore oil search (Category: Breaking News)
Sri Lanka is yet to receive financial assurances from its bi-lateral creditors, State Minister of Finance Shehan Semasinghe said. As a result, he said Sri Lanka has not yet been able to secure approval for a bailout package from the International Monetary Fund (IMF) Executive Board. “
- IMF wants Sri Lanka to provide more relief to the poor (Category: Breaking News)
- Shehan to lead Sri Lankan delegation for IMF and World Bank meetings (Category: Breaking News)
- Sri Lanka expects first review by IMF to be successful (Category: Breaking News)
- Sri Lanka confident of reaching Staff Level deal with IMF (Category: Breaking News)
Sri Lanka will restart negotiations on trade pacts with India, China and Thailand after a four-hear hiatus, an official said on Thursday, as the crisis-hit country races to seal deals to help it rebuild its economy.The post Sri Lanka to restart trade deal talks with India, China and Thailand – official appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka, India to sign power grid linking pact within two months – envoy (Category: Breaking News)
- Sri Lanka to fast-track trade pact with Thailand amid crisis (Category: Breaking News)
- Sri Lanka to restart trade deal talks with India, China and Thailand - official (Category: Breaking News)
- India expected to send ‘positive’ message on debt during Jaishankar’s visit to Sri Lanka (Category: Breaking News)
‘Petroleum, water services, too, should be under electricity regulator’ By Shamindra Ferdinando The Convenor of the combined trade union front, in fuel, ports and power sectors of the Samagi Jana Balavegaya (SJB), Ananda Palitha, yesterday (04) alleged that consumers had been deprived of the benefit of the continuing drop in world crude oil prices as […]
- Govt. flayed for jacking up fuel prices despite Rs 120 bn profit since last Sept. (Category: Breaking News)
- SJB unionist: IOC and Sinopec benefit from special levy on fuel to recover CPC losses (Category: Breaking News)
- VAT on fuel already subjected to several taxes unfair – SJB trade union wing (Category: Breaking News)
- Union blames loss-making state ventures on governments using them as job banks (Category: Breaking News)
Significant progress has been made at present in relation to the interaction with Sri Lanka’s creditors, the Central Bank of Sri Lanka said today. The bank said that it expects a crucial deal with the International Monetary Fund (IMF) to materialize in early 2023. Announcing its monetary and fiscal
- Sri Lanka seeks assistance from the World Bank (Category: Breaking News)
- UN assures assistance to Sri Lanka to address economic challenges (Category: Breaking News)
- France in talks with creditors on Sri Lanka issue (Category: Breaking News)
- New Foreign Minister promises to deliver (Category: Breaking News)
(AFP)Sri Lanka on Thursday welcomed the first Russian travellers aboard a new flight service that was launched after the bankrupt nation urged Moscow to help revive its beleaguered economy by sending tourists. Russia was Sri Lanka’s biggest source of visitors at the start of the year but arrivals nearly ceased after the invasion of Ukraine […]
- Russian airline Aeroflot resumes flights to Sri Lanka after 4 months (Category: Breaking News)
- Putin orders to increase flights between Russia and friendly states (Category: Breaking News)
- Russian Airline Red Wings commences direct flights to Sri Lanka (Category: Breaking News)
- Govt. to get Russian, Chinese flights to Mattala (Category: Breaking News)
By SHIHAR ANEEZ Tens of thousands of Sri Lankan individuals as well as corporates have to cut spending and investment from January as steep income tax rates come into force to finance a bloated state amid 65 percent inflation and turnover tax hikes that had already depleted disposable incomes. The higher income taxes are coming in […]
- Sri Lanka gambles on tax hikes; downside risks seen than gains (Category: Breaking News)
- Sri Lanka expands state workers 11-pct under revenue based fiscal consolidation (Category: Breaking News)
- Death and taxes: inevitabilities of life (Category: Breaking News)
- Budget, Taxation Turmoil and Policy Blunders – Part II (Category: Breaking News)
An estimated 5.7 million people (26 per cent of the population) or more are now in need of humanitarian assistance, with at least 4.9 million (22 per cent) being food insecure, a situation report by International Federation of Red Cross And Red Crescent Societies (IFRC) said. The report issued on December 28 said the current […]
- Nearly 6 million Lankans need humanitarian assistance – Red Cross (Category: Breaking News)
- LOLC Divi Saviya – reaches 100 days humanitarian efforts (Category: Breaking News)
- WFP warns against rising hunger levels in Sri Lanka (Category: Breaking News)
- Children have started losing weight rapidly (Category: Breaking News)
When Sri Lanka slid into its worst economic crisis in seven decades leading to deadly riots and alarming shortages of fuel, food and medicines earlier this year, its giant northern neighbour stepped into the breach.The post India makes inroads into Sri Lanka under China’s long shadow appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Infrastructure, energy and debt on agenda as Sri Lanka president arrives in India (Category: Breaking News)
- India says it will protect its interests as Chinese boat heads to Sri Lanka (Category: Breaking News)
- India plans no more funding for Sri Lanka as IMF talks progress (Category: Breaking News)
- India, Sri Lanka agree to boost ties through energy, power and port projects (Category: Breaking News)
Global lenders including the World Bank, the Asian Development Bank and the IMF are planning coordinated assistance to help Sri Lanka recover from its economic crisis, the government said on Tuesday.The post Global lenders eye coordinated assistance for Sri Lanka – Government appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka sees forex reserves exceeding $4 billion after fresh funding (Category: Breaking News)
- Sri Lanka Says Inflation Nears Peak, Easing Pressure on Economy (Category: Breaking News)
- India ‘strongly supports’ Sri Lanka debt restructuring plan, it tells IMF (Category: Breaking News)
- IMF working with multilateral lenders on financing programmes for Sri Lanka (Category: Breaking News)
Sri Lanka’s inflation is expected to significantly cool in the coming months after peaking near 70% this year, and the nation may gradually relax a currency band as inflows improve, central bank governor Nandalal Weerasinghe said.The post Sri Lanka’s inflation expected to significantly cool in the coming months – CBSL Governor appeared first on Sri Lanka News - Latest Breaking News in ...
- Sri Lanka’s headline inflation may rise to 70% in coming months – Central Bank of Sri Lanka (Category: Breaking News)
- Sri Lanka central bank chief: monetary policy transmission still incomplete (Category: Breaking News)
- Sri Lanka to introduce new central bank law, inflation target (Category: Breaking News)
- Sri Lanka Says Inflation Nears Peak, Easing Pressure on Economy (Category: Breaking News)
The dramatic fuel shortages that accompanied mass protests in Sri Lanka earlier this year may have eased, but for millions of Sri Lankans the economic crisis is worse than ever, said a report by the Amnesty International. It said: This month, the United Nations renewed a humanitarian appeal, stating that 28 percent of the population faces […]
- India s Adani Group to run three Sri Lankan airports? (Category: Breaking News)
- International rights groups slam Sri Lanka s flawed plans for a Truth Commission (Category: Breaking News)
- Ankara donates consignment of urgently needed medical supplies to Sri Lanka (Category: Breaking News)
- Rights group: Sri Lankan Tamil women exposed to sexual violence, trafficking after war (Category: Breaking News)
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
- Sri Lanka Central Bank to hold rates as inflation worries persist (Category: Breaking News)
- Sri Lanka’s Central Bank to hold rates as inflation stays high (Category: Breaking News)
- Central Bank of Sri Lanka threatens administrative measures over high market interest rates (Category: Breaking News)
- Sri Lanka unexpectedly raises rates to fulfil IMF bailout requirements (Category: Breaking News)
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, […]
- IFC to provide $400 million to banks in Sri Lanka (Category: Breaking News)
- $ 400 m IMF lifeline for struggling Sri Lanka (Category: Business)
- Over 400 respond (Category: Breaking News)
- US$ 400 m India-SL energy transaction in the pipeline (Category: Business)
Sri Lanka is in talks with the United Nations Development Programme and other agencies for a debt-for-nature swap programme, as the South Asian island faces its worst economic crisis in decades.The post Sri Lanka looks at debt relief through nature conservation – report appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka central bank chief says sovereign lenders yet to outline debt talks plans (Category: Breaking News)
- China responds to Victoria Nuland’s comment on Debt Relief to Sri Lanka (Category: Breaking News)
- India ‘strongly supports’ Sri Lanka debt restructuring plan, it tells IMF (Category: Breaking News)
- Sri Lanka president urges debt relief to help green transition (Category: Breaking News)
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 calls for debt-restructuring proposals from dealer managers (Category: Breaking News)
- Sri Lanka could wrap up debt restructure talks by Sept, president says (Category: Breaking News)
- Japan says no pact yet with Sri Lanka on debt restructure talks (Category: Breaking News)
- Japan, India and France launch creditors meeting on Sri Lanka debt (Category: Breaking News)
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 first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- 6.2 million people in Sri Lanka facing moderate acute food insecurity – FAO (Category: Breaking News)
- Sri Lanka ranks 64 on Global Hunger Index 2022 (Category: Breaking News)
- Sri Lanka begins crucial debt restructuring talks with China (Category: Breaking News)
- Sri Lanka still among 10 countries with highest food price inflation (Category: Breaking News)
By Amal Jayasinghe Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country’s airline top of the list for reform.With nearly 6,000 staff, SriLankan Airlines is the biggest and most expensive of the cash-haemorrhaging, sclerotic […]
- Union: UL will be stripped of profitable units to ensure no takers for national carrier (Category: Breaking News)
- Four replacement engines for grounded aircraft by mid-July: Minister (Category: Breaking News)
- The National Airline: A financial catastrophe in the making! (Category: Breaking News)
- UL attempt to recruit foreign pilots flops due to low pay, high taxes – Dayasiri (Category: Breaking News)
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