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Maldives President Ibrahim Mohamed Solih has conceded defeat in a presidential run-off vote after an official count showed his rival Mohamed Muizzu in an impenetrable lead. “Congratulations to president-elect Muizzu,” Solih wrote on X, formerly known as Twitter, after the Elections Commission of the Maldives showed his opponent winning 54 percent of ballots on Saturday. […]
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[…]The post Only A Unified Approach Can Solve The Economic Crisis appeared first on Colombo Telegraph.
Negotiations to secure the second tranche of funding from the International Monetary Fund (IMF) to Sri Lanka are progressing positively, Acting Finance Minister Shehan Semasinghe announced.The post Sri Lanka’s acting finance minister says positive progress in securing second IMF tranche appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9bn bailout package, due to a potential shortfall in government revenue generation, Al Jazeera has reported, quoting the lender. Speaking after a two-week visit to the country, IMF delegation head Peter Breuer on Wednesday said a […]
The International Monetary Fund (IMF) says despite early signs of stabilization, full economic recovery in Sri Lanka is not yet assured. Growth momentum remains subdued, with real GDP in the second quarter contracting by 3.1 percent on a year-on-year basis and high-frequency economic indicators continuing to provide mixed signals. Reserve accumulation has also slowed in […]
Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on Wednesday citing people familiar with the matter. The members want the group of major creditors, including the US, Japan and India, to sign a memorandum […]
The International Monetary Fund (IMF) mission team concluding its visit to Sri Lanka said that despite early signs of stabilization, full economic recovery is not yet assured.The post Despite signs of stabilization, full economic recovery not yet assured – IMF Mission appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
S&P Global Ratings on Monday (Sept. 25) raised its long- and short-term local currency sovereign credit ratings on Sri Lanka to ‘CCC+/C’ from ‘SD/SD’ (selective default).The post S&P raises Sri Lanka local currency ratings to ‘CCC+/C’, says outlook stable appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Over 200 corporate leaders attended the second Economic Forum sponsored by HSBC recently which was to discuss and share insights into the latest global trends and opportunities emerging for economic growth in Sri Lanka. Frederic Neumann, HSBC’s Chief Asia Economist and Co-Head of Global Research for HSBC Asia along with Aayushi Chaudhary, HSBC Economist for […]
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Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage.The post Sri Lanka pays off $200 million loan from Bangladesh with $4.5 million interest appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage. In the last instalment, Sri Lanka paid about $50 million and $4.5 million in interest on the loan on Thursday night, a senior official of Bangladesh […]
[…]The post 117th Birth Anniversary & Long Legacy Of JR Jayewardene appeared first on Colombo Telegraph.
Sri Lanka has called for reform in multilateral institutions like the UN, particularly the expansion of the Security Council’s composition. President Ranil Wickremesinghe addressed the UN General Assembly in New York yesterday which reflected on the theme of “Rebuilding trust and reigniting solidarity” and its relevance to Sri Lanka’s recent challenges. He mentioned how Sri...
Sri Lanka President Ranil Wickremesinghe addressed the UN General Assembly in New York yesterday (September 21) which reflected on the theme of “Rebuilding trust and reigniting solidarity” and its relevance to Sri Lanka’s recent challenges.The post Sri Lanka President address at the UNGA highlighting Sri Lanka’s journey to rebuild trust and global solidarity appeared first on ONLANKA - Sri L...
President Ranil Wickremesinghe addressed the UN General Assembly in New York on Thursday (21) on the theme “Rebuilding trust and reigniting solidarity” and its relevance to Sri Lanka’s recent challenges. He mentioned how Sri Lanka faced significant social, economic and political challenges in the past year, including threats to democratic traditions but has managed to […]
Acting Finance Minister Ranjith Siyambalapitiya during a press conference held today (21) at the Presidential Media Center, focusing on the theme of ‘Collective Path to a Stable Country’ said that over the past year, the government successfully increased the country’s foreign reserves from 1.8 billion dollars to 3.8 billion dollars. He added that in August […]
… warns that it could potentially damage both investment prospects and freedom of expression SJB MP and Chair of the Committee on Public Finance, Harsha de Silva, on Tuesday (19), criticised the government’s move to introduce the online safety bill, calling it an “archaic and draconian piece of legislation” that violates fundamental principles and represents […]
By Güner UREYA As the first Ambassador of the Republic of Kosovo to the People’s Republic of Bangladesh, I followed the developments and general trends in other South Asian countries as well, since we do not have diplomatic relations with neighbouring countries of Bangladesh. One of these countries is Sri Lanka. As I started writing, […]
Recognises Bank for highest number of transactions in country’s trade and supply chain finance domain between 1 July 2022 and 30 June 2023 The Commercial Bank of Ceylon has once again been declared the Asian Development Bank’s (ADB’s) ‘Leading Partner Bank’ in Sri Lanka for trade and finance transactions, in a significant reaffirmation of the […]
Piyumi Ranadewa is a Research Assistant working on migration and urbanisation policy research at IPS. She holds a BSc (Hons) in Agriculture, specialising in Agriculture Economics and Business (First Class) from Wayamba University of Sri Lanka, graduating with Dean’s Honours. She also holds a Master of Agri-Enterprise and Technology Management from Wayamba University of Sri […]
[…]The post Sri Lanka’s Online Safety Bill: A Regressive Overreach Stifling Investment & Freedom Of Speech appeared first on Colombo Telegraph.
[…]The post IMF & Global Debt Crises appeared first on Colombo Telegraph.
South Korean President Yoon Suk-yeol pledged his support for Sri Lankan President Ranil Wickremesinghe’s economic recovery plan for Sri Lanka and praised his counterpart’s program aimed at alleviating the severe economic crisis in the country and commended his dedication.The post South Korea pledges support for President Ranil Wickremesinghe’s economic recovery plan appeared first on ONLANKA...
“Our focus is on achieving 70% renewable energy by 2023. This includes 25% from solar panels, 15% from wind power, and 10% from natural gas. However, transitioning the energy mix is a gradual process, requiring meticulous planning and execution. We aim to reach 60% renewable energy by 2026 and eliminate fossil fuel-based electricity generation by […]
Former State Minister Dr. Nalaka Godahewa, MP yesterday pointed out that a careful look at the Central Bank’s 2023 data revealed that the much-touted promise to build a thriving export-oriented economy under the current government was only a pipedream. Addressing the media at the Nidahasa office
The United States and Sri Lanka marked the fourteenth Trade and Investment Framework Agreement (TIFA) Council Meeting in Colombo today (18), solidifying their commitment to enhancing trade and investment relations. The technical level meeting, co-chaired by K.J. Weerasinghe of the Government of Sri Lanka and Brendan Lynch, Acting Assistant United States Trade Representative for South […]
Sri Lanka has sought technical assistance and training from the U.S in the fight against corruption. The United States and Sri Lanka marked the fourteenth Trade and Investment Framework Agreement (TIFA) Council Meeting in Colombo today (18), solidifying their commitment to enhancing trade and investment relations. The technical level meeting, co-chaired by K.J. Weerasinghe of […]