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Brokers see downward trend to continue in the next few weeks until interest rates come down.
Talks will continue over the next few days with an IMF delegation already in the island nation, he said.
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Protests beginning to father pace as petrol, diesel shortages threaten to bring the country to a standstill
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Passenger transport, goods transport hit
Sri Lanka's ongoing economic crisis has threatened a looming food crisis.
Currency crisis has triggered forex shortages
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"China and the United States could work together to help Sri Lanka (to) overcome current difficulties (sp)."
[…]The post IMF – Eagerly Awaited – Desperation Grows! appeared first on Colombo Telegraph.
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed Prime Minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]
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Customers are sending questionaries to exporters on a daily basis inquiring about the country's situation.
The United Nations team in Sri Lanka and non-governmental organisations launched a joint Humanitarian Needs and Priorities (HNP) Plan today, calling for US$47.2 million to provide life-saving assistance to 1.7 million people worst-hit by the economic crisis over a four-month period, from June to September. This directly responds to the Government of Sri Lanka’s request […]
Sri Lanka is compelled to depend on other countries to manage the impacts of economic crisis.
Wickremesinghe is on the spotlight for his performance after accepting Prime Minister post unconditionally.
Prime Minister Ranil Wickremesinghe has warned that the next three weeks will be tough for Sri Lanka. Speaking in Parliament today, the Prime Minister said that the public must use fuel and gas as carefully as possible. He also said that unessential travel should be limited as much as possible. “Therefore, I urge all citizens […]
"We have to work hard from this point onwards to ensure the next harvest is a success."
Says guidance rate has reduced volatility
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[…]The post RW’s Tax Hike Welcome But Much More To Be Done To Come Out Of The Crisis appeared first on Colombo Telegraph.
Money printing creates forex and fuel shortages
[…]The post Elon Musk To Rescue Sri Lanka From IMF Debt Bondage? appeared first on Colombo Telegraph.
Central bank has run out of reserves and is guidance rate
crisis with a shortage of US Dollars causing great hardships across the country. As […]
The Government is targeting US $5bn this year for repayments, plus a further US $1bn to bolster the country’s reserves, Prime Minister Ranil Wickremesinghe said today. The Prime Minister, during a meeting today with representatives from the Joint Chambers, elaborated that discussions with the IMF are proceeding and he was hopeful that negotiations would conclude […]
[…]The post Changing Pillows To Cure Headaches: Politicians—Constitutional Amendment Mess appeared first on Colombo Telegraph.
France has gifted Sri Lanka anesthetics and respiratory medications worth 300,000 Euros
They brought the proposal (in 2020) that Financial Advisors have to be appointed to make debt sustainable.