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A food crisis in Sri Lanka looms as the island nation faces its worst economic disaster in decades. With food price inflation higher than 90%, even staples like rice have become almost unaffordable for many Sri Lankans. The World Food Programme (WFP) estimates that about 30% of the population is food insecure and that one out of […]
USAID Administrator Samantha Power today announced an additional $40 million in development assistance to Sri Lanka to help farmers purchase fertilizer and other vital agricultural inputs. Power, who is currently in Sri Lanka, made the announcement after meeting farmers and discussing their issues. This assistance will support Sri Lankans as they come out of a […]
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 post War On China? – VI: India & The US: Forward Policy & The Brzezinskian Project appeared first on Colombo Telegraph.
” 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 […]
[…]The post Ripples In The Indian Ocean: Yuan Wang 5 & Easter Sunday 2019 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, […]
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 crisis,” says the World Food Programme Representative and […]
[…]The post Pelosi’s Pivot As Cold War & Colonialism Rebound: Blue-Greenwash In The Indian Ocean appeared first on Colombo Telegraph.
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 of managers whose ideas were more orthodox and aligned with the neo-liberal bankers […]
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 up on either side of the road and across the […]
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 post Presidential Dilemma: Find Fuel Or Face Protests appeared first on Colombo Telegraph.
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.
The world has just been given a grim reminder of the mind-numbing costs of legitimate political dissent against state repression in Myanmar. The country’s military rulers have had no qualms about executing four pro-democracy activists, including well known political activist Kyaw Min Yu and former legislator Pho Zayar Thaw. Besides being made to witness absolute […]
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 […]
Global un-employment set to rise
The Indian economy is on course to achieve projected 8-8.5 per cent growth based on high-frequency indicators for the first quarter of the FY 2022-23, the Finance Ministry said on 19 July. Earlier on 31 January, the Economic Survey tabled in the Parliament projected the real GDP during 2022-23 to grow at 8.0-8.5 per cent. […]
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 said the fund was “very deeply concerned about the well-being of the people in […]
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 ‘as quickly as possible’ appeared first on ONLANKA News - Sri Lanka News - Latest News in Sri Lanka - Br...
[…]The post Good Bye Ranil; “Welcome” President Dulles Alahapperuma appeared first on Colombo Telegraph.
Sri Lanka’s Acting President Ranil Wickremesinghe says that the issues which prevail in Sri Lanka with regard to hunger, are man made.The post The food crisis in Sri Lanka is man made, Acting President Ranil tells Global Forum appeared first on ONLANKA News - Sri Lanka News - Latest News Sri Lanka - Breaking News from Sri Lanka.
(Vatican News) Pope Francis on Sunday implored the authorities of Sri Lanka to listen to the cries of their people, suffering under the country’s worst economic crisis in 70 years. “I join in the grief of the people of Sri Lanka, who continue to suffer the effects of political and economic instability,” the pope said […]
ECONOMYNEXT –Sri Lanka should stop money printing earlier than indicated in a statement by Prime Minister Ranil Wickremesinghe, opposition legislator Harsha de Silva said, though legislators have already given extensive powers to the agency engage in liquidity injections. “Prime Minister Ranil Wickremesinghe talked about money printing,” de Silva told parliament. “He said, the in...
Countries already under pressure from the economic fall-out of the COVID-19 pandemic, risk seeing the same economic turmoil and human misery as Sri Lanka, the UN said. “We’re witnessing a tragic series of events that are unfolding in Sri Lanka right now that should be a warning to anyone who thinks that, you know, it […]
Says economy could contract 7-pct in 2022