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China s economy grew at a 5.2% pace in the first three quarters of the year and showed signs of improvement in November, with factory output and retail sales rising, the government said Friday.
The second review of Sri Lanka's $2.9 billion bailout with the IMF could be completed in the first half of 2024, provided it manages to meet debt restructuring and revenue targets set under the programme, an official said on Wednesday.The post Sri Lanka’s second review of $2.9 billion IMF bailout possible in first half of 2024 – official appeared first on ONLANKA - Sri Lanka Latest Bre...
- IMF Team to conduct second review of Sri Lanka’s EFF program in March 2024 (Category: Breaking News)
- IMF ready to support Sri Lanka’s discussions with bondholders (Category: Breaking News)
- IMF says Sri Lanka debt deal could help board clear first bailout review (Category: Breaking News)
- IMF to conduct bailout review for Sri Lanka in September (Category: Breaking News)
By Shamindra Ferdinando Chairman of the Committee on Ways and Means Patali Champika Ranawaka on Tuesday (12) alleged that the Finance Ministry had allowed the operation of a distillery in spite of that company failing to pay taxes. The former minister said that the country lost millions for want of political will to recover what that company owed […]
- Govt. MP slams Finance Ministry over gaping holes in tax collection system (Category: Breaking News)
- Corrupt elements use Parliament, Finance Ministry to evade taxes (Category: Breaking News)
- Parliament flays FM, etc., for revenue shortfalls: Siyambalapitya says situation not properly as... (Category: Breaking News)
- Accusations reiterated, explanation sought from FM (Category: Breaking News)
By Rathindra Kuruwita IMF’s second review under the 48-month Extended Fund Facility (EFF) arrangement for Sri Lanka is expected to be completed by the end of the first half of 2024, IMF Senior Mission Chief for Sri Lanka, Peter Breuer, told journalists Wednesday morning. Addressing the IMF’s Virtual Press Briefing on the First Review of […]
- IMF Executive Board to take up Sri Lanka s first review on Dec.12 (Category: Breaking News)
- IMF Executive Board set to take up Sri Lanka s first review today (Category: Breaking News)
- IMF team to visit Sri Lanka for second EFF review (Category: Breaking News)
- IMF convenes special press briefing on Sri Lanka s first review (Category: Breaking News)
President Ranil Wickremesinghe told Parliament yesterday that Sri Lanka was set to come out of bankruptcy by securing of the second tranche of the International Monetary Fund’s (IMF’s) Extended Fund Facility. “We will now focus on securing the foreign aid that was suspended after we declared bankruptcy,” the President said, making a special statement to Parliament […]
- No objection from CB chief to tabling IMF deal:Speaker (Category: Breaking News)
- IMF working with a government without a mandate – Handunnetti (Category: Breaking News)
- CBK: Proposed anti-corruption bill inadequate to end widespread problem (Category: Breaking News)
- Ranil likely to go for presidential poll first – sources (Category: Breaking News)
In a special statement to Parliament today (13), President Ranil Wickremesinghe emphasized the critical role of the government’s program, backed by assistance from the International Monetary Fund (IMF) and debt restructuring, in rebuilding the collapsed Sri Lankan economy. The President warned
- Kamala Harris' VP win is huge for HBCUs, Tougaloo president says (Category: USA, Mississippi)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
The International Monetary Fund (IMF) said its executive board cleared the first review of Sri Lanka's about $3 billion bailout on Tuesday, providing about $337 million in funds to help tackle the fallout from the country's worst financial crisis in decades.The post IMF board approves first review of Sri Lanka’s nearly $3 billion bailout appeared first on ONLANKA - Sri Lanka Latest Breaking ...
- IMF says Sri Lanka debt deal could help board clear first bailout review (Category: Breaking News)
- IMF staff to visit Sri Lanka in September for first programme review (Category: Breaking News)
- IMF board poised to approve $2.9 billion Sri Lanka bailout (Category: Breaking News)
- First review of IMF’s Extended Fund Facility for Sri Lanka to commence today (Category: Breaking News)
The Executive Board of the International Monetary Fund (IMF) has approved the disbursement of approximately US$ 337 million to Sri Lanka as part of a bailout package. The IMF said the Executive Board completed the first review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with access to SDR 254 million […]
- IMF says full economic recovery in Sri Lanka is not yet assured (Category: Breaking News)
- IMF reaches crucial staff-level agreement with Sri Lanka following first review (Category: Breaking News)
- Human Rights Watch fears IMF loan could erode rights in Sri Lanka (Category: Breaking News)
- IMF confident Sri Lanka can be put on the path to prosperity (Category: Breaking News)
[…]The post Why NPP? appeared first on Colombo Telegraph.
- Homework For NPP (Category: Breaking News)
- NPP Deserves Fairness From Critics (Category: Breaking News)
- RW, IMF & The Economy (Category: Breaking News)
- Politics Of Paranoia (Category: Breaking News)
Two policy-based loans (PBLs) have been arranged following discussions between the Asian Development Bank (ADB) and the Sri Lankan government, the Ministry of Finance said. Accordingly, the PBLs are slated to be used for the implementation of the Financial Sector Stability and Reform Programme, in a bid to create a stable financial system that provides […]
- Voters in Padukka send money orders to Election Commission for 2023 LG polls (Category: Breaking News)
- Circular issued to control expenditures in public service (Category: Breaking News)
- 2024 budget process begins with govt. presenting Appropriation Bill (Category: Breaking News)
- Former senior public servants among appointments to National Commissions (Category: Breaking News)
[…]The post Proposed Labour Reforms: When A Labour Lawyer Speaks Like A Labour Economist appeared first on Colombo Telegraph.
- Target 2048 – Growth Lab Experiment Should Be Converted From A Mere Wish To Ground Level Reality (Category: Breaking News)
- Budget 2021: A Reversion To JR Jayewardene Policies Of 1940s? (Category: Breaking News)
- Budget 2021: A Reversion To JR Jayewardene Policies Of 1940s? (Category: Breaking News)
- Budget 2021: A Reversion To JR Jayewardene Policies Of 1940s? (Category: Breaking News)
[…]The post Should The Central Bank Act Be Amended By A Future Government? appeared first on Colombo Telegraph.
- Nexus between money, exchange rate, money printing and inflation (Category: Breaking News)
- The Contribution Of The Monetary Policy For Overcoming The Current Economic Crisis Faced In Sri ... (Category: Breaking News)
- Inflation – Public Enemy Number One (Category: Breaking News)
- The Latest IMF Condition – Make The Central Bank Independent (Category: Breaking News)
[…]The post JRJ, The Arrogant Man Whose 1977 Constitution Started The Ruin appeared first on Colombo Telegraph.
- The Curse Of JRJ Constitution Continues (Category: Breaking News)
- Lessons From America (Category: Breaking News)
- Separation Of Powers, Rule Of Law, Corruption & SL Bankruptcy (Category: Breaking News)
- Immediate Governmental Actions Needed (Category: Breaking News)
The Asian Development Bank (ADB) has approved a USD 200 million concessional loan for Sri Lanka to help stabilize the country’s finance sector following the sovereign debt and economic crises that started in April 2022 after it suspended its external debt payments.The post ADB approves $200 Million to sustain economic stabilization efforts in Sri Lanka appeared first on ONLANKA - Sri Lanka Latest ...
- ADB approves $350 Million for Sri Lanka economic stabilization programme (Category: Breaking News)
- ADB approves $100 million loan to support SMEs in Sri Lanka (Category: Breaking News)
- ADB approves $200mn to sustain economic stabilization efforts in Sri Lanka (Category: Breaking News)
- ADB to disburse US$ 203 Million emergency loan to support Sri Lanka’s poor and vulnerable (Category: Breaking News)
[…]The post New Episodes Of Sri Lanka Political Theatre appeared first on Colombo Telegraph.
- Restoring The Dignity Of Sri Lankan Cricketers (Category: Breaking News)
- The Rise & Fall of Bhanuka Rajapakse: How Sri Lankan Cricket’s Mismanagement Dimmed A Superb Tal... (Category: Breaking News)
- Sri Lanka will appeal ICC suspension – Sports Minister (Category: Breaking News)
- Nominations handed over for Sri Lanka Cricket elections (Category: Breaking News)
By Rathindra Kuruwita Dissident Sri Lanka Freedom Party (SLFP) MP, Dayasiri Jayasekera, has expressed concern over a potential 50% drop in the revenue of the Ceylon Petroleum Corporation (CPC) due to the entry of foreign companies into the petroleum market. Jayasekera highlighted the adverse impact of the policies of successive governments on the CPC. “The […]
- It’s alright for new foreign fuel retailers to undercut CPC in pricing productsBy Rathindra Kuru... (Category: Breaking News)
- Fuel Distributors Association threatens legal action against CPC (Category: Breaking News)
- Govt.’s strong-arm tactics bound to fail, say petroleum unions (Category: Breaking News)
- CPC leaves shed owners in limbo (Category: Breaking News)
by Harim Peiris As we approach the end of 2023 and with about a year to go for the next presidential election due before end 2024, President Ranil Wickremesinghe’s frequent refrain and indeed the rationale for his administration is the revival of the national economy after it was spectacularly
- UNDP and LKI Propose a ‘Blue Economy’ Approach for Sri Lanka’s Economic Development (Category: Breaking News)
- IMF should oppose restrictions on Freedom of Expression, Civil Society Groups (Category: Breaking News)
- Japan funds UNDP-led anti-corruption initiative, pledges about one million USD (Category: Breaking News)
- IMF Executive Board approves US$3 Billion under the Extended Fund Facility arrangement for Sri L... (Category: Breaking News)
Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday.The post Sri Lanka to receive about $600 million ADB funding post-IMF approval – official appeared first on ONLANKA - Sri Lanka Latest Breaking News and ...
- Sri Lanka eyes US $ 1.3 Billion from multilateral funding agencies this year (Category: Breaking News)
- ADB approves $200 Million to sustain economic stabilization efforts in Sri Lanka (Category: Breaking News)
- Asian Development Bank vows more help for crisis-hit Sri Lanka (Category: Breaking News)
- World Bank releases additional USD 250 million for Sri Lanka to sustain economic reforms (Category: Breaking News)
Minister of Justice, Prison Affairs and Constitutional Reform, Wijayadasa Rajapakse, unveiled plans to introduce a new legislative framework aimed at regulating microfinance institutions operating within the country. Expressing deep concern regarding the unregulated status of certain microfinance entities, Minister Rajapakse emphasized the necessity for decisive measures. He underscored the intent...
- Govt. to establish authority to regulate microfinance outifts (Category: Breaking News)
- Proposed Legislation for Comprehensive Regulation of Microfinance Institutions in Sri Lanka – Mi... (Category: Breaking News)
- Justice Minister unveils plan to tame microfinance organisations through new legislative framework (Category: Breaking News)
- Bill to tighten money-lending laws including microfinance (Category: Breaking News)
by Ifham Nizam Political instability is one of the biggest stumbling blocks when it comes to managing climate vulnerability, a senior climate scientist has warned. Speaking at a recent symposium titled ‘Poverty Alleviation in an Era of Economic Crisis’, former Director of the Natural Resources Management Centre (NRMC) of the Ministry of Agriculture Dr. Ranjith […]
- Sri Lanka’s economy shows signs of stabilization, but poverty to remain elevated (Category: Breaking News)
- WB predicts Lanka’s poverty will increase to 28% in 2023 from 25% recorded last year (Category: Breaking News)
- ADB approves $350 mn for Sri Lanka Economic Stabilization Programme (Category: Breaking News)
- ADB’s knowledge engagement in Sri Lanka to be aligned with govt’s reform programme (Category: Breaking News)
[…]The post Climate Colonialism At CoP 28: Carbon Laundering Via Green Bondscams? appeared first on Colombo Telegraph.
- Greenwashing Bond Scams & Financializing Mother Nature: Climate Science Fiction Versus Local Rea... (Category: Breaking News)
- Debt Restructuring As Rocket Science: The IMF, Green, Blue & Pink-Washing BlackRock? (Category: Breaking News)
- Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-So... (Category: Breaking News)
- Pelosi’s Pivot As Cold War & Colonialism Rebound: Blue-Greenwash In The Indian Ocean (Category: Breaking News)
‘Politicians and public must behave better’ by Rathindra Kuruwita Sri Lanka has done extremely well on the economic front during the last 18 months, says former Governor of the Central Bank of Sri Lanka (CBSL) Dr. Indrajit Coomaraswamy. Dr. Coomaraswamy revealed his assessment of the country’s economic recovery process while addressing a Centre of Poverty […]
- Ex-central bank chief on main reason for Sri Lanka s socio-economic regression (Category: Breaking News)
- Sri Lanka can t use $1.5 billion China swap on IMF concerns  Dr. Coomaraswamy (Category: Breaking News)
- Prez appoints renumeration committee to review CBSL pay hike issue (Category: Breaking News)
- Economic situation will worsen if political stability is not established soon  CBSL chief (Category: Breaking News)
[…]The post Resolving Systemic Debt Crises Needs A Paradigm Shift appeared first on Colombo Telegraph.
- IMF & Global Debt Crises (Category: Breaking News)
- Paris Summit To Push For Global Debt Reforms & What Sri Lanka Could Bring To The Table (Category: Breaking News)
- Lasantha Wickrematunge’s Assassination: Empty Promises Of Accountability (Category: Breaking News)
- Idiot’s Guide To Global & Domestic Debt (Category: Breaking News)
What has been widely described as the “historic” Supreme Court judgment which by a majority 4-1 decision of a five-judge bench held the Rajapaksa brothers, Mahinda, Gotabaya and Basil and other unelected officials including two past Governors of the Central Bank, a former Secretary to the President, a former Treasury Secretary and some members of […]
- SLPP convention on Dec. 15 (Category: Breaking News)
- Two ex-Presidents say people will find it impossible to live under new VAT regime (Category: Breaking News)
- Mahinda pledges support for President Ranil (Category: Breaking News)
- No expectation of returning to power, says Mahinda Rajapaksa (Category: Breaking News)
ECONOMYNEXT –Sri Lanka’s non-performing loans after the latest currency crisis is showing signs of having peaked but some sectors are hit worse than others with problem loans dating back from Coronavirus moratoriums, a banking official said. Hotels, transport and arts and entertainment sectors had bad loans of 30 to 20 percent, while the overall level […]
- SLBA calls for government engagement to facilitate debt recovery process (Category: Breaking News)
- Parate execution is the last resort to protect depositors’ funds – SLBA (Category: Breaking News)
- CB Governor outlines importance of DDR to protect banks and save overall economy (Category: Breaking News)
- Harsha hints at Chinese hurdle in debt relief talks (Category: Breaking News)
[…]The post A Political Imperative appeared first on Colombo Telegraph.
- Ranil’s Perilous Authoritarian Alternative (Category: Breaking News)
- Futility Of “Ranilnomics” Without Systemic Change (Category: Breaking News)
- Economy, 13th Amendment & System Change (Category: Breaking News)
- Politics Behind Economic Recovery (Category: Breaking News)
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 increased to 3.4% in November 2023 from 1.5% in October 2023. This increase in the headline inflation is mostly in line with the projections envisaged by the Central Bank of Sri Lanka (CBSL) in November 2023. The Food […]
- Sri Lanka s inflation climbs to 2.8% in November (Category: Breaking News)
- Colombo s consumer price inflation increases to 4% in Dec. (Category: Breaking News)
- CBSL Governor says inflation could rise to 7% this month (Category: Breaking News)
- Central Bank Governor shares Sri Lanka’s inflation success story (Category: Breaking News)
Sri Lanka’s inflation accelerated in November for a second straight month as energy tariffs were raised to keep the International Monetary Fund’s $3 billion bailout on track.The post Sri Lanka inflation rises for second month on high energy costs appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s inflation eases to 2.5% in March 2024 (Category: Breaking News)
- Sri Lanka’s key inflation rate rises to 1.5% in October (Category: Breaking News)
- CCPI based inflation further drops to 57.2% (Category: Breaking News)
- Sri Lanka consumer price inflation eases to 53.2% in January but impulses still persist (Category: Breaking News)
Sri Lanka's in-principle pact with creditor nations to restructure its debt prepares the way for the International Monetary Fund (IMF) to consider clearing the first review of a bailout next month, the global lender said on Thursday.The post IMF says Sri Lanka debt deal could help board clear first bailout review appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s second review of $2.9 billion IMF bailout possible in first half of 2024 – official (Category: Breaking News)
- IMF Team to conduct second review of Sri Lanka’s EFF program in March 2024 (Category: Breaking News)
- IMF board approves first review of Sri Lanka’s nearly $3 billion bailout (Category: Breaking News)
- There is “strong expectation” of Sri Lanka commercial creditor deal: IMF (Category: Breaking News)
The French Development Agency’s (Agence Française de Développement also known as AFD) Regional Directorate is strengthening its base in Sri Lanka in line with the commemoration of 75 years of diplomatic relations between Sri Lanka and France. It also marks the enduring partnership between AFD Group and its Sri Lankan partners, which began in 2005 […]
- France to provide EUR 450,000 to CEB for renewable energy (Category: Breaking News)
- France continues support for Sri Lanka’s renewable energy plans (Category: Breaking News)
- EU, AFD, and World Bank support strengthening Sri Lanka s public finance management (Category: Breaking News)
- French government pledges support for the development process of Sri Lanka (Category: Breaking News)
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