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Crisis-hit Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF) over $3bn (£2.4bn) of funding. The deal, which still needs to be approved by the global lender’s board, comes after an eight-month delay. The South Asian nation is facing its worst economic
- Pakistan’s ex-president, Pervez Musharraf dies aged 79 (Category: Breaking News)
- JP Morgan to take over First Republic bank (Category: Breaking News)
- Nearly 40 pupils killed by militants in Uganda school attack (Category: Breaking News)
- Protesters among prisoners pardoned by Iran leader (Category: Breaking News)
The International Monetary Fund (IMF) has reached a staff-level pact with Pakistan on a $3 billion stand-by arrangement, the lender said, a decision long awaited by the South Asian nation which is teetering on the brink of default.
The World Bank yesterday (28) approved USD 700 million in budgetary and welfare support for Sri Lanka.This is the biggest funding infusion into the country since the International Monetary Fund (IMF) bailout package approved in March. Through this funding, the World Bank said it aims to help Sri
- Sri Lanka receives $250 Mn as budgetary support from World Bank (Category: Breaking News)
- SL hopes for productive talks at IMF WB spring meetings (Category: Breaking News)
- World Bank to provide $500 mn budgetary support to Sri Lanka (Category: Breaking News)
- World Bank releases additional USD 250 million for Sri Lanka to sustain economic reforms (Category: Breaking News)
The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.The post World Bank approves $700 Million for crisis-hit Sri Lanka appeared
- World Bank set to approve $700 Million for Sri Lanka next week (Category: Breaking News)
- World Bank to provide $500 million budget support to Sri Lanka (Category: Breaking News)
- No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank (Category: Breaking News)
- Sri Lanka budget to seek recovery for crisis-hit economy (Category: Breaking News)
The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.
Sri Lankan tea prices that had been piping hot have cooled off as production in the world’s fourth-largest tea grower begins to recover.The post Sri Lanka tea prices dip 40% from record high on production rebound appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Prices of cup of plain tea and milk tea reduced (Category: Breaking News)
- Sri Lanka tea industry to fully recover next year, says minister (Category: Breaking News)
- Leaf Trend (Category: Business)
- Crop Condition (Category: Business)
Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.The post World Bank to provide $500 million budget
- World Bank set to approve $700 Million for Sri Lanka next week (Category: Breaking News)
- Sri Lanka receives $250 Mn as budgetary support from World Bank (Category: Breaking News)
- World Bank to provide $500 mn budgetary support to Sri Lanka (Category: Breaking News)
- World Bank approves $700 Million for crisis-hit Sri Lanka (Category: Breaking News)
Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.
Debt-laden Sri Lanka will unveil its domestic debt restructuring strategy this week, central bank chief P Nandalal Weerasinghe said on Sunday (Jun 25), as the island navigates its worst financial crisis in decades. Sri Lanka will also likely obtain Cabinet and parliamentary approval for the debt restructuring strategy this week, Weerasinghe told local TV channels […]
- CB warns of catastrophic consequences if banking sector collapses (Category: Breaking News)
- Sri Lanka’s sovereign lenders yet to outline debt talks plans (Category: Breaking News)
- Sri Lanka to announce debt restructuring strategy in April (Category: Breaking News)
- CBSL Governor refuses to resign over pay hike issue (Category: Breaking News)
ECONOMYNEXT –Sri Lanka has been moving forward in bilateral debt negotiations by talking to individual creditors despite a clearly defined process for dealing with Paris Club and other creditors, President Ranil Wickremesinghe had said last week. Sri Lanka was following a ‘debtor led’ strategy by reforming the economy and also aiming at a ‘highly efficient […]
- No queues because we have stopped repaying our debt, but we’ll be back in trouble when repayment... (Category: Breaking News)
- India greatly sensitive to needs of Lanka – PM Modi (Category: Breaking News)
- President tells Arab envoys Lanka wants immediate ceasefire in Gaza (Category: Breaking News)
- President wants Lanka to be first in South Asia to join RCEP, largest trade bloc in history (Category: Breaking News)
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran next month appeared first on ONLANKA - Latest Breaking News updates on Sri Lanka.
- Sri Lanka settles US$ 20 million Iranian oil debt with tea (Category: Breaking News)
- Sri Lanka set to start tea-for-oil barter with Iran next month (Category: Breaking News)
- Lankan, Iranian officials discuss how to boost SL tea exports (Category: Breaking News)
- Iran to double tea imports from SL (Category: Breaking News)
International Monetary Fund (IMF) Managing Director Kristalina Georgieva says the G20 Common Framework is delivering for countries outside of the Common Framework such as Sri Lanka. She said that the top priority must be to ease the debt burden on countries, especially those who have been hit
- IMF chief seeks timely resolution of Sri Lanka’s debt restructuring (Category: Breaking News)
- IMF chief says China helped reach debt relief deal for Sri Lanka (Category: Breaking News)
- IMF wants to resolve debt crisis in Sri Lanka (Category: Breaking News)
- IMF in talks with China to restructure Sri Lanka’s debt (Category: Breaking News)
Sri Lanka President Ranil Wickremesinghe met with U.S. Secretary of the Treasury Janet Yellen on Thursday (June 22) on the sidelines of the Paris Summit for a New Global Financing Pact.The post Sri Lanka President highlighted challenges faced in debt restructuring process to U.S. Treasury Secretary appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
- Yellen ‘eager’ to work with China on debt, other global challenges (Category: Breaking News)
- Janet Yellen warns United States could run out of cash by June 1 (Category: Breaking News)
- Janet Yellen warns US could run out of cash by June 1 (Category: Breaking News)
- Janet Yellen sworn in as Biden's Treasury Secretary (Category: USA, South Dakota)
The International Monetary Fund (IMF) says it is committed to support Sri Lanka’s economic reforms. IMF Managing Director Kristalina Georgieva said that she had a very good meeting with Sri Lanka President Ranil Wickremesinghe in Paris. “I warmly welcomed the strong ownership by Sri Lanka
- US envoy in Sri Lanka discusses obstacles faced by upcountry families (Category: Breaking News)
- Malaysia and Sri Lanka discuss ways to improve political, economic ties (Category: Breaking News)
- Almost 1,500 doctors may have left Sri Lanka in 2022 (Category: Breaking News)
- US envoy holds talks with Anura Kumara Dissanayake (Category: Breaking News)
Sri Lankan President Ranil Wickremesinghe met with the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva in Paris, France on Thursday (June 22).The post Committed to support Sri Lanka’s economic reforms – IMF chief tells Sri Lankan President appeared
- IMF chief Kristalina and Sri Lanka President Ranil discuss ongoing reforms and debt restructurin... (Category: Breaking News)
- IMF Chief meets President Ranil, commends Sri Lanka s economic reform efforts (Category: Breaking News)
- IMF MD and President Wickremesinghe focus on Financial Reforms and Debt Restructuring initiatives (Category: Breaking News)
- IMF chief and Ranil discuss restructuring Sri Lanka’s debt (Category: Breaking News)
Japan has appreciated the steps taken by President Ranil Wickremsinghe to restructure Sri Lanka’s debt. Newly appointed Eastern Province Governor Senthil Thondaman, who is on a visit to Japan, met the State Minister of Foreign Affairs of Japan, TAKEI Shunsuke, for talks today. During the discussion, the Japanese Minister had noted the steps taken by […]
- Sri Lanka distribute chicks among poultry farmers (Category: Breaking News)
- Ranil questions English spoken by Tamil activist (Category: Breaking News)
- China-Japan tensions flare up over maritime disputes (Category: Breaking News)
- Aragalaya activist Piyath Nikeshala arrested (Category: Breaking News)
The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has assured the institution s commitment towards supporting Sri Lanka s economic reforms.
The United Nation’s deputy human rights chief on Wednesday urged the international community to use accepted principles of universal and extraterritorial jurisdiction to investigate and prosecute alleged perpetrators of human rights violations in Sri Lanka, as long as the accountability deficit remains in the island nation.The post United Nations slams Sri Lanka’s misuse of ICCPR Act, propos...
- The President kicked off Visi Vara Jaya Nada (Category: Breaking News)
- U.N. presses Sri Lanka to advance human rights amid economic crisis (Category: Breaking News)
- UN human rights office approached for information on 10 Sri Lankans (Category: Breaking News)
- UN sees Aragalaya as important starting point for Sri Lanka (Category: Breaking News)
[…]The post Law In Crisis: Government Is Still Controlled By Kaputu Kāk Kā appeared first on Colombo Telegraph.
- Lack of Common Sense Of A Time-Expired President (Category: Breaking News)
- Downward Spiralling Economy: Increased Govt Spending & Reduced Revenue (Category: Breaking News)
- Corruption & Lack Of Common-Sense; Presidential Brutalities (Category: Breaking News)
- People Called On To Play Direct Role To Sustain Democracy (Category: Breaking News)
By Shamindra Ferdinando UNDP Resident Representative in Colombo, Azusa Kubota, accompanied international expert on parliamentary development, Kevin Deveaux, to meet Speaker Mahinda Yapa Abeywardena at the Parliament on 14th June. They were joined by Policy Expert and Head of Governance, UNDP Colombo, Chandrika Karunaratne. Japanese national Kubota took over the UNDP mission in Colombo in […]
- Lacille poses pertinent questions to Parliament, UNDP (Category: Breaking News)
- Where have millions of USD invested in good governance and accountability projects et al gone? (Category: Breaking News)
- Impact of foreign-funded projects on Parliament’s standing as sole sovereign and supreme body (Category: Breaking News)
- US hand in GR’s ouster: Speaker finally confirms allegations (Category: Breaking News)
The Sri Lanka Government has not yet taken a final decision regarding the domestic debt optimization programme, Minister of State for Finance Shehan Semasinghe said.The post Sri Lanka Government has not taken a final decision yet regarding domestic credit optimization – Minister of State for Finance appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka ...
- Don’t be fooled by false advertising – Minister of State for Finance (Category: Breaking News)
- No move to restructure domestic debt – State Minister (Category: Breaking News)
- No final decision yet regarding domestic debt optimization - Semasinghe (Category: Breaking News)
- No final government decision yet regarding domestic credit optimization (Category: Breaking News)
The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March. The economy of the country of 22 million is expected to shrink […]
- Sri Lanka and China’s EXIM Bank discuss debt restructuring exercise (Category: Breaking News)
- Top social media video creator/comedian promotes Sri Lanka (Category: Breaking News)
- Sri Lanka receives 1st disbursement of US$ 250 million from WB (Category: Breaking News)
- US to explore areas to support Sri Lanka (Category: Breaking News)
The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March.The post World Bank set to approve $700 Million for Sri Lanka next week appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - S...
- World Bank to provide $500 million budget support to Sri Lanka (Category: Breaking News)
- World Bank provides loan to strengthen healthcare in Sri Lanka (Category: Breaking News)
- No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank (Category: Breaking News)
- World Bank’s IFC to provide Sri Lanka with $400 million financing (Category: Breaking News)
Sri Lanka is yet to finalise restructuring its domestic debt, State Minister of Finance Shehan Semasinghe said. Semasinghe tweeted saying that the Government is fully committed to ensure the stability of the banking and financial sector. He said that premature speculations without a conclusion could potentially undermine market confidence. “The process of domestic debt optimization […]
- Shehan Semasinghe sworn in as Acting Finance Minister (Category: Breaking News)
- Sri Lanka says economy has stabilised and growth is emerging (Category: Breaking News)
- Sri Lanka to continue talks with bondholders (Category: Breaking News)
- Shehan to lead Sri Lankan delegation for IMF and World Bank meetings (Category: Breaking News)
Pakistan Finance Minister Ishaq Dar continued with his “contradictory” approach with the International Monetary Fund (IMF), alleging that geopolitics was behind a stalled loan programme as global institutions wanted Islamabad to default like Sri Lanka and then enter negotiations.The post Foreign
- Foreign powers want Pakistan to default like Sri Lanka- Pakistani Minister (Category: Breaking News)
- Pakistan sees attempt to make country default like Sri Lanka (Category: Breaking News)
- Pakistan s finance minister opposes provincial snap polls mandated by court (Category: Breaking News)
- Federal budget for FY 2023-24 a huge downer for housewives in Pakistan (Category: Breaking News)
Over the past few decades, the People’s Republic of China has made remarkable strides in advancing its Belt and Road Initiative (BRI) projects. The BRI aims to foster cooperation and connectivity worldwide, particularly with Asian nations. Currently, the BRI encompasses more than 140 countries, and China is actively working towards establishing digital silk roads between […]
- President Wickremesinghe visits Huawei Company in China (Category: Breaking News)
- Chinese-made Huawei devices could disrupt US nuclear communication (Category: Breaking News)
- Huawei launches its largest-ever regional Seeds for the Future Program, inspiring digital talent... (Category: Breaking News)
- Sri Lanka President inked agreement with Huawei company for digitization of Sri Lanka’s schools (Category: Breaking News)
Pakistan Finance Minister Ishaq Dar continued with his Âcontradictory approach with the International Monetary Fund (IMF), alleging that geopolitics was behind a stalled loan programme as global institutions wanted Islamabad to default like Sri Lanka and then enter negotiations.
By Y P Prakash The growth of regional industries is crucial for India to realize its ambitions of becoming a global manufacturing hub, and India’s potential in this regard is undeniable. The International Monetary Fund predicts that India’s GDP will grow by 6.1% in 2023, surpassing
- Air India inks deal for 540 Airbus and Boeing planes in “historic” order (Category: Breaking News)
- Air India takes delivery of its first Boeing 787 Dreamliner (Category: Business)
- Spotlight turns to output as Boeing wins show (Category: Business)
- Emirates’ $18 b blockbuster Boeing order kicks off air show (Category: Business)
Sri Lanka's economy (LKGDP=ECI) shrank 11.5% in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades.The post Sri Lanka’s economy shrinks 11.5% in first quarter as financial crisis continues appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
- Sri Lanka balances polls and crisis recovery in 2024 budget deliberations (Category: Breaking News)
- Sri Lanka economy could shrink by -3.5% to -4%, president says (Category: Breaking News)
- At least 17 people hospitalized after massive fire in Pettah (Category: Breaking News)
- Sri Lanka to start next round of talks with creditors in April (Category: Breaking News)
The federal budget for Fiscal Year 2023-24, presented by Pakistan Finance Minister Ishaq Dar on Friday, came as a huge disappointment for homemakers as it offered no respite from surging household expenses, The News International reported. Reeling under an economic crisis of the kind seldom experienced in the country’s history, women in Pakistan are finding […]
- Pakistan sees attempt to make country default like Sri Lanka (Category: Breaking News)
- Despite squeezing people, govt projects record high deficit (Category: Breaking News)
- IMF asks Pakistan to take steps to be able to function as a country (Category: Breaking News)
- Foreign powers want Pakistan to default like Sri Lanka – Pakistan Finance Minister (Category: Breaking News)
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