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Sri Lanka will restart bailout talks with the International Monetary Fund (IMF) in August, its new president said on Wednesday, while calling on lawmakers to form an all-party government to resolve a crippling economic crisis.The post Sri Lanka to restart IMF bailout talks, president calls
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 […]
assport of a British national, Kayleigh Fraser, who had posted about the protests on social media, seized
A leading human rights group has accused the new Sri Lanka Government of cracking down on dissent. The Sri Lankan Government is using emergency regulations to harass and arbitrarily detain activists seeking political reform and accountability for the country’s economic crisis, Human Rights Watch said today. Since Ranil Wickremesinghe was sworn in as President on July […]
Reserves depleted for debt repayment, imports and some capital flight
Sri Lanka's new president Ranil Wickremesinghe said on Sunday it was not the right time for former president Gotabaya Rajapaksa to return to the country as it could inflame political tensions, the Wall Street Journal reported.The post Sri Lanka President says it’s not right time for Rajapaksa to return after fleeing country, WSJ reports appeared first on ONLANKA News :. Sri Lanka Breaking Ne...
President Ranil Wickremesinghe says it was not the right time for former President Gotabaya Rajapaksa to return to the country as it could inflame political tensions, the Wall Street Journal reported. “I don’t believe it’s the time for him to return,” Wickremesinghe said in an interview with the Journal. “I have no indication of him […]
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 […]
Sri Lanka's new president Ranil Wickremesinghe has formally invited MPs to join an all-party unity government to revive the bankrupt economy by undertaking painful reforms, his office said Sunday.The post Sri Lanka president seeks unity government to save economy appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
We need to only remind ourselves of what happened to Greece and China (KMT) - D S Sennayake
Sri Lanka’s president said Saturday that an agreement with the International Monetary Fund to help pull the bankrupt nation out of its economic crisis has been pushed back to September because of unrest over the past weeks.The post Sri Lanka leader says IMF agreement pushed back after unrest
AL Jazeera) Some Asian central banks must rapidly raise interest rates to prevent an “upward spiral” in inflation as the war in Ukraine drives surging fuel and food prices, an International Monetary Fund (IMF) official has said. While inflation in Asia remains “moderate”
The International Monetary Fund (IMF) said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state's government seeks a financing loan from the Washington-based fund.The post IMF says Sri Lanka needs to talk with China about debt restructuring
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 Lanka found itself struggling to make […]
By Sanath Nanayakkare There is still possibility for Sri Lanka to arrive at a staff level agreement with the International Monetary Fund (IMF) by August 2022 to qualify for an extended fund facility, but the new government will need to demonstrate its ability to implement the required policies
The government defaulted an interest payment of 78 million US dollar of a sovereign bond on May 19
Sri Lanka’s new President, Ranil Wickremesinghe, had sought the top job for decades. Now he has to find ways to avoid the fate of his predecessor as he fends off protesters who’re angry about persistent food and fuel shortages.The post Here’s what to expect in Sri Lanka with a new President in power appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Sri Lanka Latest News.
Independent Experts* today expressed alarm about record high inflation, rising commodity prices, power shortages, crippling fuel crisis and the economic collapse in Sri Lanka, as the country grapples with unprecedented political turmoil. This crisis has had a serious impact on the enjoyment of human rights for the entire population, the experts said. “Time and again, […]
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 9th July Revolution Ousted Rajapaksa Dynasty; So, Let It Imprimatur appeared first on Colombo Telegraph.
Sri Lanka’s Acting President Ranil Wickremesinghe today (July 18) stated that the absence of a proper Easter Sunday investigation has meant that this issue has still not been fully resolved and he is requesting the assistance of the UK Government and their intelligence services.The post Easter Attacks: Sri Lanka to seek assistance of UK Government & intelligence over Easter Sunday attacks ...
Acting President Ranil Wickremesinghe has warned of elements attempting to disrupt the peace. Issuing a special statement, Wickremesinghe said that these elements would be prohibited from disrupting the country’s progress. Wickremesinghe further stated that the peaceful protesters who had legitimate concerns would be engaged with by the Government and solutions would be found for them. […]
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...
Quick election may be needed
Sri Lankan lawmakers met Saturday to begin choosing a new leader to serve the rest of the term abandoned by the president who fled abroad and resigned after mass protests over the country’s economic collapse.The post Sri Lanka begins choosing leader to replace ex-president appeared first on ONLANKA News - Sri Lanka News - Latest News Sri Lanka - Breaking News from Sri Lanka.
Sri Lanka’s opposition leader, who is seeking the presidency next week, vowed Friday to “listen to the people” who are struggling through the island nation’s worst economic crisis and to hold accountable the president who fled under pressure from protesters.The post Sri Lanka’s opposition leader who is seeking the presidency sees tough work ahead appeared first on ONLANKA News - Sri Lanka Ne...
Economic crisis: By Shamindra Ferdinando SLPP MP Dr. Nalaka Godahewa has said that some of those members of Parliament, with expertise in financial matter, recently reached, what he called, an initial consensus on an economic recovery plan.The Gampaha District MP declared that a range of proposals, made by interested parties, outside the Parliament, too, had been […]