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” Sri Lanka cannot do without IMF’s support. Having declared its inability to service its foreign debt, Sri Lanka is struggling to reach a consensus with lenders and the IMF. Two of Sri Lanka’s major creditors, India and China, locked horns over a port visit by a Chinese ship. Sri Lanka should be wary of […]
By Uditha Devapriya Divided from the Indian subcontinent, yet also deeply connected to it, Sri Lanka has never had an opportunity of forging and shaping a foreign policy of its own. The high point of its foreign relations, under the three Bandaranaike administrations over a period of 20 years, did signal an effort, and a […]
[…]The post Purchasing Power Parity appeared first on Colombo Telegraph.
[…]The post The Aragalaya & Morality appeared first on Colombo Telegraph.
Bangladesh has warned developing countries not to become like Sri Lanka by taking loans from China. Bangladesh’s Finance Minister AHM Mustafa Kamal has warned that developing countries must think twice about taking more loans through China’s Belt and Road Initiative as global (BRI) inflation and slowing growth add to the strains on indebted emerging markets, […]
President Gotabaya Rajapaksa’s two years in office – a period of unprecedented political turmoil, uncertainty and further deterioration of Parliament – should be thoroughly examined. In fact, the UNP, with the support of the then President Maithripala Sirisena, paved the way for Gotabaya Rajapaksa’s candidature, at the 2019 presidential election, by blocking Mahinda Rajapaksa’s path […...
The World Food Programme (WFP) is seeking donor support to reach 3.4 million people in Sri Lanka with food and nutrition assistance as nearly a quarter of Sri Lanka is facing food shortages for millions.Sri Lanka’s worst economic crisis since independence is spinning off a “serious food
SL too on agenda BY S VENKAT NARAYAN Our Special Correspondent NEW DELHI, August 6: India is maintaining a studied “loud silence” on the tensions between China and the United States and the developments in the Taiwan Straits in the wake of US House Speaker Nancy Pelosi’s controversial visit to Taipei last week. The decision […]
and avoid a Lanka-like forex crisis. While the […]
[…]The post Pelosi’s Pivot As Cold War & Colonialism Rebound: Blue-Greenwash In The Indian Ocean appeared first on Colombo Telegraph.
India expects bilateral trade worth $8-9 billion with Russia and Sri Lanka in the next two months after it allowed international trade in rupees, India’s trade secretary said.The post India expects $8-$9 Billion bilateral trade with Russia, Sri Lanka in two months appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
The United States and India have had high-level talks on the situation in Sri Lanka. US Secretary of State Antony Blinken discussed the situation in Sri Lanka at a meeting with Indian External Affairs Minister S. Jaishankar. Blinken tweeted saying during the meeting with Jaishankar he discussed the implications of Russia’s aggression against Ukraine and Sri […]
by Chandre Dharmawardana, chandre.dharma@yahoo.ca. The forex crisis had forced the government to jettison its initial set of economic managers of the Central bank who looked for home-grown solutions and opposed dealing with the International Monetary Fund (IMF). The President re-instated a set
Calls for unity in a country torn apart by nationalism and monetary instability
Selected imports will be restricted to balance payments for fuel, President Ranil Wickremesinghe said today. The President told Parliament that the immediate requirement before the country is fuel. “While appreciating the international assistance in addressing the fuel shortage, it in timely that we now initiate a system for such importation from our own export income […]
By Kalinga Tudor Silva One of the important ways, the current economic crisis in Sri Lanka has directly impacted our lives is having to go through long and seeming unending queues, to access petrol, diesel, kerosene and even our dear passports. Queues have multiplied, sprung
The widely acclaimed globalisation of the post-Cold-War era is now running in reverse. A protracted slowdown in global trade has been reinforced by persistent pandemic-related supply chain disruptions, ongoing pressures of the US-China trade war and efforts to align cross-border economic ties with geostrategic alliances, known as “friend-shoring”. These developments raise the pressure on China, [&...
[…]The post Presidential Dilemma: Find Fuel Or Face Protests appeared first on Colombo Telegraph.
Developments in Sri Lanka underline the risk of destabilising social and labour unrest throughout Asia-Pacific because of rising living costs impacting the region, S&P Global Market Intelligence said. Countries with similarly weak economic fundamentals and/ or poor economic policies have reduced resilience to external shocks, such as the COVID-19 pandemic, the Russia-Ukraine conflict, high oil...
The head of the U.S. government aid agency called on China on Wednesday to help Sri Lanka and other nations that had borrowed heavily from Beijing with debt restructuring, not just with lines of credit and emergency loans.The post USAID chief calls on China to restructure Sri Lanka’s debt appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
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
Global un-employment set to rise
Reiterating its call for dialogue and diplomacy, India on Monday (local time) said that if the conflict in Ukraine is not solved through talks immediately, there will be severe repercussions in the global economy which will derail the efforts of securing food security and eradicating hunger in the run-up to 2030. Speaking at the UN […]
[…]The post Is Global Financial Crash Imminent in 2022? appeared first on Colombo Telegraph.
Bangladesh Prime Minister Sheikh Hasina has lambasted those who are making wholesale criticism that Bangladesh will face the same situation like that of Sri Lanka. They are making the comments without realising the global context under the fallout of the Covid-19 and Russia-Ukraine War, the Daily Star quoted her as saying. “Let them say that […]
[…]The post 39 Years After Black July, It Is Time For Tamil Eelam: Preparing For A Unilateral Declaration Of Independence appeared first on Colombo Telegraph.
The Asian Development Bank (ADB) says Sri Lanka’s growth is forecast to contract by 7.6% in 2022 and economic activity will remain subdued in 2023.In its latest Asian Development Outlook Supplement, the ADB said the island nation is beset with multifaceted and deepening challenges emanating from long-standing fiscal and current account deficits that have led to […]
The International Monetary Fund hopes to complete rescue talks with Sri Lanka “as quickly as possible,” Managing Director Kristalina Georgieva said on Wednesday, hours before the crisis-hit South Asian nation elected a new president. Speaking with Nikkei Asia in Tokyo, Georgieva
The International Monetary Fund hopes to complete rescue talks with Sri Lanka "as quickly as possible," Managing Director Kristalina Georgieva said on Wednesday, hours before the crisis-hit South Asian nation elected a new president.The post IMF hopes to complete Sri Lanka aid talks ‘
[…]The post Good Bye Ranil; “Welcome” President Dulles Alahapperuma appeared first on Colombo Telegraph.