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World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva said there was a growing risk of global recession, with inflation remaining a continuing problem after Russia’s invasion of Ukraine.The post World Bank’s Malpass, IMF’s Georgieva see rising risks of Global Recession appeared first on Sri Lanka News - Latest Breaking News in Sri Lan...
[…]The post Ranil’s Debt Driven Growth Strategy appeared first on Colombo Telegraph.
Sri Lanka’s economic crisis is deepening with unsustainable debt and a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic and debt restructuring and the implementation of a deep reform program are critical for Sri Lanka’s economic stabilization, says the World Bank in its twice-a-year update, underscoring the need for Sri Lanka to build resilience.The post Debt res...
The World Bank warned that Sri Lanka’s economic crisis is deepening with unsustainable debt and a severe balance of payment crisis on top of lingering scars of the COVID-19 pandemic. Debt restructuring and the implementation of a deep reform program are critical for Sri Lanka’s economic stabilization, says the World Bank in its twice-a-year update, […]
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
[…]The post Global Recession & Its Impact On Sri Lanka appeared first on Colombo Telegraph.
Unlike the financial crisis of 2008, the economic levers alone were insufficient to stimulate global economic recovery in 2022 as what had led to the current crisis was the consequences of evolving geopolitics, President Ranil Wickremesinghe said on Thursday at the ADB’s 55th annual meeting. “The Ukraine war on one side and the US-China rivalry, […]
By Dr UPUL WIJAYAWARDHANA On Friday 23rd, the British Chancellor of the Exchequer was billed to present a mini-budget, but what he actually did took everyone by surprise, as it was a budget and half! It was full of tax cuts including the reduction of the basic rate of income tax from 20% to 19%, […]
By ATANU BISWAS Exactly one hundred years ago, in October 1922, Benito Mussolini and his National Fascist Party seized power through the March on Rome (Marcia su Roma) and became Italy’s youngest Prime Minister. A dark period of totalitarian evolution emerged which eventually would spread wings in some other parts of Europe as well. And […]
Emphasising the importance of strategic economic ties between India and Saudi Arabia, External Affairs Minister S Jaishankar said on Sunday that the collaboration holds the “promise of shared growth, prosperity, stability, security and development”. Jaishankar, who reached Riyadh on Saturday, is on a three-day visit to Saudi Arabia – his first as External Affairs Minister. He […]
Indian Prime Minister Narendra Modi told Russian President Vladimir Putin on Friday that now was not the time for war, directly assailing the Kremlin chief in public over the nearly seven-month-long conflict in Ukraine. Locked in a confrontation with the West over the war, Putin has repeatedly said Russia is not isolated because it can […]
Wickremesinghe says Sri Lanka is taking some painful reforms to come out of economic crisis
By Michael Kugelman, Pakistan’s Polarization Undermines Crisis Response As world leaders gathered at the United Nations General Assembly this week, the organization estimated that Pakistan’s catastrophic floods have now displaced nearly 8 million people. A health crisis looms: Floodwaters have triggered outbreaks of cholera, malaria, and dengue fever. Thousands of pregnant women and more than [...
Series of crises SL has faced have dealt a heavy blow Reviving presents SL with an opportunity to address its long-running challenges by Sanath Nanayakkare Young people are not only the present but also the future; developing plans and policies without them is a futile exercise, they need to be the front and centre of […]
[…]The post HSZ Symbolizes Increasing Economic Insecurity appeared first on Colombo Telegraph.
New York [US], September 24 (ANI): Noting that India is now the fifth biggest economy in the world and envisions itself as a developed country by 2047, External Affairs Minister S Jaishankar on Saturday said that the country’s own development is inseparable from rest of the world. Jaishankar
[…]The post Child’s Guide To Ranilnomics: Proposed Debt Restructuring Will Pose More Issues Than Answers appeared first on Colombo Telegraph.
Climate change has become the primary challenge of the 21st century. Now that “net zero” goals for carbon emission have gained near-universal acceptance, they will begin to drive transformational economic change through massive waves of investment. Change will sweep across virtually every major industry and activity (from energy to transport, and construction to heavy industry), […]
The US central bank has pushed interest rates to the highest level in almost 15 years as it fights to rein in soaring prices in the world’s largest economy. The Federal Reserve announced it was raising its key rate by another 0.75 percentage points, lifting the target range to 3% to 3.25
By N Sathiya Moorthy President Ranil Wickremesinghe’s address at the first-ever graduation ceremony of the National Defence College (NDC) in capital Colombo reiterated four points. The first three have been repeated by successive governments and their leaders over the past three decades in particular. Initiated under the predecessor government of President Gotabaya Rajapaksa in the […]
[…]The post Next Round: Ranil Versus The JVP appeared first on Colombo Telegraph.
Tokyo [Japan], September 8 (ANI): As the Chinese economy is in the grip of a zero-COVID policy, the administration of President Xi Jinping is rushing to secure stable supplies of resources by increasing purchases of Russian oil. It was visible in the city of Linyi, where one gas station had signs
External Affairs Minister S Jaishankar on Saturday said the world recognizes that India is capable of defending its interests and added that the country is unshaken in the face of standoffs along the border areas. “We’ve been resolute when challenged in border areas. 2 yrs ago, in the middle of Covid, we had China move forces in […]
Islamabad, Pakistan– United Nations Secretary-General Antonio Guterres has appealed for “massive” global support for Pakistan where unprecedented floods have killed nearly 1,400 people and displaced more than 33 million.Guterres made the appeal as he landed in the Pakistani capital early on Friday morning and was received by Hina Rabbani Khar, the state minister for foreign […]
[…]The post Adopting A Humanist Approach To Empower Youths For National Development appeared first on Colombo Telegraph.
For the first time in parliamentary history, the Central Bank of Sri Lanka has issued a dire warning to Parliament and political parties therein over the responsibility on their part to ensure financial stability and discipline. Their failure to do so would trigger public protests again, they were told. There hadn’t been such a public […]
Mikhail Sergeyevich Gorbachev who died last Tuesday was hardly known outside the Soviet Union when JR Jayewardene made himself Sri Lanka’s President in 1978. Seven years later, on March 11, 1985, Gorbachev would be become the General Secretary of the Soviet Communist Party. He was 54 years old and was the first leader of the […]
[…]The post Lanka Adrift In Tempestuous Seas appeared first on Colombo Telegraph.
[…]The post The World After Mikhail Gorbachev & Sri Lanka After JR Jayewardene appeared first on Colombo Telegraph.
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...