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The International Monetary Fund (IMF) is still awaiting assurances on Sri Lanka in order to present a Fund-supported program for Sri Lanka to the IMF’s Executive Board, for approval. The IMF confirmed that India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary […]
- IMF Executive Board approves bailout package for Sri Lanka (Category: Breaking News)
- IMF wants Sri Lanka to implement deals with official creditors (Category: Breaking News)
- Chinese Embassy in Sri Lanka slams US envoy (Category: Breaking News)
- D-day for Sri Lanka as IMF Executive Board meets to decide on EFF (Category: Breaking News)
India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday.The post India commits to help Sri Lanka on debt in prospective IMF program appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- India ‘strongly supports’ Sri Lanka debt restructuring plan, it tells IMF (Category: Breaking News)
- IMF eyes creditor assurances as it prepares Sri Lanka visit (Category: Breaking News)
- India commits to help Sri Lanka on debt in prospective IMF program (Category: Breaking News)
- Sri Lanka’s debt restructuring: China expected to inform its support to IMF today (Category: Breaking News)
India’s External Affairs Minister S. Jaishankar on Thursday met Sri Lanka's top leadership and conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery.The post Jaishankar conveys India’s commitment to increase investment flows to Sri Lanka to hasten economic recovery appeared first on Sri Lanka News - Latest Breaking News in Sri La...
- India remains committed to assist Sri Lanka in its economic recovery – Jaishankar tells Sabry (Category: Breaking News)
- “A friend in need is a friend indeed”: Sri Lanka’s praise for India (Category: Breaking News)
- Sri Lanka’s creditors must take proactive steps to facilitate its recovery: Jaishankar (Category: Breaking News)
- India’s prudence towards Sri Lanka further consolidates the “neighbourhood first” policy of Prim... (Category: Breaking News)
India's foreign minister arrives in Colombo on Thursday following his country's backing of Sri Lanka for a $2.9 billion International Monetary Fund (IMF) loan, leaving China as the island's last remaining major creditor to agree to a debt restructuring plan.The post India foreign minister visits Sri Lanka with stronger ties, China in focus appeared first on Sri Lanka News - Latest Breaking News in...
- India expected to send ‘positive’ message on debt during Jaishankar’s visit to Sri Lanka (Category: Breaking News)
- Jaishankar conveys India’s commitment to increase investment flows to Sri Lanka to hasten econom... (Category: Breaking News)
- Sri Lanka expects financing assurances from China for IMF deal within days (Category: Breaking News)
- Sri Lanka’s debt restructuring: China expected to inform its support to IMF today (Category: Breaking News)
A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7%, but the losses could reach 8-12% in some countries, if technology is also decoupled, the International Monetary Fund (IMF) said in a new staff report.The post IMF says fragmentation could cost global economy up to 7% of GDP appeared first on Sri Lanka News ...
- IMF says fragmentation could cost global economy up to 7% of GDP (Category: Breaking News)
- IMF Executive Board approves a proposal to increase financial quotas (Category: Breaking News)
- Global economy faces tougher year in 2023, IMF chief warns (Category: Breaking News)
- IMF refutes reports on its advice to digital service tax in Sri Lanka (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 to to get financial assurances from its major creditors […]
- 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)
By Dr. C. S. Weeraratna (csweera@sltnet.lk) Sri Lanka is facing an unprecedented crisis mainly due to economic mismanagement and corruption in the various development sectors. During the last few weeks, at various discussions related to the country’s economy, the need to take effective action on the present economic situation in the country has been highlighted. […]
- Reducing Trade Deficit (Category: Breaking News)
- Ailing rubber sector? (Category: Breaking News)
- Achieving food security:Integrated plan necessary (Category: Breaking News)
- Sector report (Category: Business)
Why did former President Sirisena vacate the Paget Road residence, having made it part of his ‘deal’ with the UNP? A three-judge bench of the Supreme Court, comprising Justices Priyantha Jayawardena, Gamini Amarasekara, and Kumuduni Wickremasinghe, having examined the arguments put forward by both the petitioner and respondent parties, issued an interim order on March […]
- Sirisena’s castle in the air (Category: Breaking News)
- SC quashes Cabinet decision granting Paget Road residence to Maithripala (Category: Breaking News)
- Proroguing The Parliament – A Political Subterfuge! (Category: Breaking News)
- Sirisena, SLFP enmeshed in Easter Sunday fallout (Category: Breaking News)
India has handed 75 passenger buses to Sri Lanka as part of its assistance towards strengthening public transport infrastructure in the cash-strapped country.The post India provides 75 buses to Sri Lanka to support public transport system appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- India provides 75 buses to Sri Lanka to support public transport system (Category: Breaking News)
- Sri Lanka plans to enhance Public Transportation with 200 new Buses in 2024 (Category: Breaking News)
- National Transport Commission working towards reducing bus fare prices (Category: Breaking News)
- QR code system to be introduced to pay Sri Lanka Transport Board (SLTB) bus fares (Category: Breaking News)
Bangladesh Prime Minister Sheikh Hasina and Sri Lankan President Ranil Wickremesinghe will be among 20 world leaders who will participate in the “Voice of the Global South Summit” (VGSS) next week hosted by India virtually, Indian media reported.The post President to participate in India-hosted Voice of Global South Summit – report appeared first on Sri Lanka News - Latest Breaking News in S...
- Ranil to participate in Indian summit virtually (Category: Breaking News)
- Sri Lanka President arrives in New York to attend the 78th session of the United Nations General... (Category: Breaking News)
- President to participate in India-hosted Voice of Global South Summit - report (Category: Breaking News)
- President addresses second Voice of Global South Summit (Category: Breaking News)
Foreign assistance to overcome Sri Lanka’s financial crisis will not be available as the international community has no trust in incumbent government, says the main opposition SJB. Addressing the media at the Opposition Leader’s office in Colombo recently, Chief Opposition Whip and Kandy District
- Govt. planning to place EPF, ETF under independent body (Category: Breaking News)
- SJB divided, some attend Ranil’s tea party (Category: Breaking News)
- SJB to take disciplinary action against its MPs who joined govt (Category: Breaking News)
- Sajith: EPF will lose Rs 12 trillion due to domestic debt restructuring (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)
[…]The post Prospects For Global Capitalism: 2023 & After appeared first on Colombo Telegraph.
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (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)
By Easwaran Rutnam France, which is part of the Paris Club, is in talks with Sri Lanka’s creditors in an attempt to ensure a solution is reached for the financial crisis sooner than later. The newly appointed French Ambassador to Sri Lanka, Jean-François Pactet, told a select group of journalists
- France ready to support Sri Lanka in its efforts to restructure its debt (Category: Breaking News)
- France saddened by the demise of its diplomat in Sri Lanka (Category: Breaking News)
- France looks to strengthen ties with Sri Lanka (Category: Breaking News)
- French Ambassador to Sri Lanka Jean-François Pactet passes away (Category: Breaking News)
Regular revelations, pertaining to high profile scams that had undermined revenue collection, underline the pathetic failure on the part of Parliament to ensure financial discipline. The Central Bank, five-member Monetary Board, Cabinet of Ministers and Parliament as an institution should accept the responsibility for the current crisis. The likes of Bandula Gunawardena continue to pursue […...
- Rs 16 bn revenue loss: CIABOC summons Bandula over sugar duty scam (Category: Breaking News)
- Rs. 16 bn sugar duty scam: Recovery of losses further delayed (Category: Breaking News)
- SL wouldn’t have been in this mess if IMF conditions had been complied with – State FM (Category: Breaking News)
- Sugar duty scam: Bandula misses CIABOC summons, asks for another day (Category: Breaking News)
By R M M Lilani A significant shift in the chaotic foreign policy of the Sri Lankan government has raised the idea of Japan once more acquiring the East Container Terminal (ECT), as the International Monetary Fund works to ameliorate Sri Lanka’s current financial crisis. After signing a MoU
- by Arundathie Abeysinghe U.S., Japan, India and Australia ready to intervene to prevent Sri Lank... (Category: Breaking News)
- Sri Lana PM laments unilateral termination of Japan, India-funded projects (Category: Breaking News)
- Quad urged to take more proactive role to address Sri Lanka crisis (Category: Breaking News)
- Beijing restless as QUAD comes to Colombo’s aid (Category: Breaking News)
The three-year-old is losing weight and complains of leg pains and weakness. The doctor's diagnosis is clear - Nitisha is underfed and malnourished.The post Sri Lanka’s children go hungry as food prices soar appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Tourist arrivals to Sri Lanka soar, surpassing 600,000 within 3 months (Category: Breaking News)
- Sri Lanka to appoint cost of living committee chaired by president as prices soar (Category: Breaking News)
- Tourist arrivals soar with record November (Category: Business)
- Asian shares soar after ECB, focus on payrolls (Category: Business)
Amendments to Exchange Control Act contemplated By Shamindra Ferdinando State Finance Minister Ranjith Siyambalapitiya yesterday (07) said the government would introduce some amendments to the Exchange Control Act No 12 of 2017 as part of its response to the continuing financial crisis. The SLFPer
- Prez should explain why he scrapped time-tested exchange controls – NFF (Category: Breaking News)
- USD 56.5 bn parked overseas: Govt. must deal with errant exporters firmly – Justice Minister (Category: Breaking News)
- SLC, cryptocurrency and repealing of time-tested law (Category: Breaking News)
- Little headway in cleaning mess (Category: Breaking News)
The 20th Communist Party Congress of China may put a hold on the Chinese restructuring talks with Sri Lanka to secure the $2.9 billion facility to revive the ailing economy. The deadline was set for December, but it may be extended to January, according to the Central Bank of Sri Lanka. China is the main […]
- Sri Lanka has miles to go for IMF debt relief and salvaging the payments crisis (Category: Breaking News)
- China assures Sri Lanka of its help in addressing debt challenges (Category: Breaking News)
- India’s response to debt restructuring request expected by Jan end: SL (Category: Breaking News)
- Bad news for Beijing: Colombo will not allow China to use Sri Lanka as base to threaten India (Category: Breaking News)
Saudi Arabia’s NEOM smart city offers a great opportunity for Sri Lankan professionals and skilled workers, a government minister from the South Asian nation said.The post NEOM offers Sri Lankan workers ‘lifetime opportunity,’ minister says appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Saudi Arabia offers Haj pilgrimage to Sri Lankan Muslim Tri Forces personnel for first time (Category: Breaking News)
- NEOM offers Sri Lankan workers lifetime opportunity, minister says (Category: Breaking News)
- New employment scheme with Saudi Arabia sparks hope among Sri Lankan workers (Category: Breaking News)
- Nearly 90 Sri Lankan female domestic workers stranded in Oman (Category: Breaking News)
The Paris Club creditor nations are proposing a 10-year moratorium on Sri Lankan debt and another 15 years of debt restructuring as a formula to resolve the current financial crisis in the Island nation. While the Paris Club is still to formally reach out to India and China, two of Sri Lanka’s
- France in talks with creditors on Sri Lanka issue (Category: Breaking News)
- Paris Club ready for close coordination with China, India on Sri Lanka debt talks (Category: Breaking News)
- Paris Club provides financing assurances to IMF on Sri Lanka (Category: Breaking News)
- Official creditors and Sri Lanka agree in principle on debt restructuring (Category: Breaking News)
Putting equal onus on rich global north and developing global south, the Paris Club creditor nations are proposing a 10-year moratorium on Sri Lankan debt and another 15 years of debt restructuring as a formula to resolve the current financial crisis in the island nation, the Hindustan Times
- Paris Club proposing a 10-year moratorium on Sri Lanka s debt - Report (Category: Breaking News)
- Paris Club proposes 10-year moratorium for Sri Lanka (Category: Breaking News)
- Paris Club to give Sri Lanka financing assurances amid IMF debt talks – sources (Category: Breaking News)
- France in talks with creditors on Sri Lanka issue (Category: Breaking News)
Sri Lanka's central bank on Thursday threatened administrative intervention to control high market interest rates that it regarded as out of line with the inflation outlook.The post Central Bank of Sri Lanka threatens administrative measures over high market interest rates appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka resumes rate cuts to boost growth as inflation cools (Category: Breaking News)
- Sri Lanka Central Bank further reduces policy rates (Category: Breaking News)
- Central Bank of Sri Lanka decided to maintain policy interest rates at their current levels (Category: Breaking News)
- Central Bank of Sri Lanka issues order slashing interest rates on lending products (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)
[…]The post Economic Bankruptcy & Political Instability appeared first on Colombo Telegraph.
- Remembrance Week Marking Persecution Of Sri Lankan Muslims (Category: Breaking News)
- Modi’s Wolf Worrier Diplomacy Opens A Window For China In South Asia (Category: Breaking News)
- New Delhi, Colombo & Tamils: The Adani Factor (Category: Breaking News)
- New Delhi, Colombo & Tamils: The Adani Factor (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)
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
- Sri Lanka budget to seek recovery for crisis-hit economy (Category: Breaking News)
- Sri Lanka balances polls and crisis recovery in 2024 budget deliberations (Category: Breaking News)
- Sri Lanka’s economy to shrink by 2% in 2023, Central Bank says (Category: Breaking News)
- Sri Lanka’s president to cut spending in interim budget (Category: Breaking News)
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.The post Turbulence ahead: Airline on the block in Sri Lanka reforms appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- SriLankan Airlines obtains Government’s approval to recruit foreign pilots (Category: Breaking News)
- Sri Lanka’s airline posts US $ 525 million annual loss (Category: Breaking News)
- SriLankan CEO believes ‘worst is over’, expects $50 Million profit next year (Category: Breaking News)
- SriLankan Airlines returns to profit amid privatization efforts (Category: Breaking News)
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