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By Shamindra Ferdinando Dissident SLPP MP Prof. G. L. Peiris recently questioned President Ranil Wickremesinghe’s declaration that Sri Lanka was the only country in Asia where democracy is completely safeguarded, thereby Opposition rights guaranteed. Nothing could be further from the truth, the former External Affairs Minister told a gathering at the launch of ‘Ira Kaluwara’ by […]
The World Bank has found that more than a quarter of Sri Lanka’s population is living in poverty,according to its latest publication. Titled ‘World Bank Update: Bridges to Recovery’ released last week (April 2) shows that poverty has increased over the past four years—from 11 percent in 2019 to almost 26 percent in 2024 in Sri Lanka. […]
The assistance of the Asian Development Bank (ADB) to help Sri Lanka recover from the crisis will be aligned with the strategic objectives of the Bank’s country partnership strategy (CPS) 2024–2028, Takafumi Kadono, Country Director, Sri Lanka Resident Mission, ADB said. Mr. Kadono
[…]The post Palestine & Ukraine: Two More Nails In Imperialism’s Coffin? appeared first on Colombo Telegraph.
ECONOMYNEXT –At least 10 Sri Lanka’s Members of Parliament (MPs) elected in the 2020 general elections are not anymore the legislature, either due to death or resignation or legal issues, official data showed. With the latest death of ruling Sri Lanka Podujana Peramuna (SLPP) legislator K H Nandasena (69 years) on Thursday (04), Parliament has […]
Mr. Rajith Keerthi Tennakoon, President Director General of Community Affairs, stated that between President Ranil Wickremesinghe’s assumption of office and February 2024, the Government of Sri Lanka has settled a total of US$ 1909.7 million in foreign debt and interest payments.The post Sri Lanka settles $1.9 Billion in Foreign Debt and Interest Payments: Official Statement appeared first on ONLA...
Sri Lanka’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. But, the country still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank’s latest bi-annual update. The Sri Lanka Development Update, Bridge to Recovery, highlights that […]
[…]The post Brahmins Demand A Debate On Debt appeared first on Colombo Telegraph.
[…]The post Katchatheevu Crisis – Seal The Deal Mr. Modi appeared first on Colombo Telegraph.
Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardena, has stressed that any alteration, even as small as one-tenth, to the on-going government program spearheaded by President Ranil Wickremesinghe could pose a significant threat to the stability of the country once more. Despite numerous reports indicating an increase in poverty among the country’s most vulnerable, the minister ...
Sri Lanka’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. But, the country still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank’s latest bi-annual update.The post Sri Lanka’s economy shows signs of stabilization, but poverty to remain elevated ̵...
[…]The post Conundrum Of Elections & IMF Programme appeared first on Colombo Telegraph.
Sri Lanka still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank’s latest bi-annual update. The World Bank also said that Sri Lanka’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. Released today, the Sri Lanka Development […]
[…]The post Sinhala Buddhist Nationalism & Women In Sri Lanka appeared first on Colombo Telegraph.
By Jehan Perera Tracing history and going back to the colonial era, President Ranil Wickremesinghe has said that despite the adverse impact of world wars and internal conflicts, Sri Lanka has steadfastly upheld its democratic value of ensuring the functioning of both the government and the opposition without interruption. The president was addressing members of […]
[…]The post Colombo University Business Economic Summit 2024: Keynote Address appeared first on Colombo Telegraph.
[…]The post Politics Behind Economic Recovery appeared first on Colombo Telegraph.
Sri Lanka was optimistic about resolving its debt restructuring issues in the second quarter to secure financing from the International Monetary Fund (IMF), as external creditors are reportedly engaging positively, Bloomberg said quoting the country’s state finance minister. “We anticipate a favourable outcome,” stated state minister Shehan Semasinghe during discussions held in L...
Sri Lanka is hopeful it can resolve debt restructuring issues in the second quarter so it can get financing from the International Monetary Fund because external creditors are all engaging “positively,” according to the South Asian nation’s junior finance minister.The post Sri Lanka confident of meeting conditions for IMF funding soon – report appeared first on ONLANKA - Sri Lanka Latest Bre...
Sri Lanka’s cabinet has approved increasing the minimum wage by 40%, a top official said on Tuesday, to support workers struggling with living costs as the economy slowly shakes off its worst financial crisis in decades, helped by an IMF bailout. Sri Lanka’s economy collapsed in early 2022
In its quest to challenge Western hegemony in global governance and make itself more representative of the Global South, BRICS has begun to expand itself, including more new member nations. The expansion has led to a formal request by Pakistan to join BRICS in late 2023. This has led to discourse and speculations by scholars, […]
In an unprecedented display of candor, Premier Li Qiang’s inaugural government work report delivered a scathing indictment of the myriad economic woes plaguing China at the recently concluded National People’s Congress in Beijing. The wide-ranging report pulled no punches in exposing the cascading domestic fragilities and external hostilities that threaten to derail the world’s second-largest [...
Sri Lankan President Ranil Wickremesinghe emphasizes the necessity of a new economic reform program for the country’s economic recovery.The post Sri Lanka President stresses vitality of new Economic reforms for country’s recovery appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
President Ranil Wickremesinghe participating in a friendly discussion organized by the ‘United Youth Union’ on the theme ‘Future of our Youth’ in Polonnaruwa on Saturday (23), stressed the necessity of a new economic reform program for the country’s economic recovery. He requested for collective support from all citizens to prevent the next generation from inheriting […]
[…]The post Mr. President, You Plan To Rapidly Transform The Country Into An Export Economy By Passing Two New Laws In April 2024? appeared first on Colombo Telegraph.
… corruption cited as one of the three issues faced by the country Japanese Ambassador Hideaki Mizukoshi Thursday (21) urged Sri Lanka to turn the continuing economic, political and social crisis into an opportunity to achieve success. The Ambassador said that the country
Global investors and Sri Lankan officials expect to start negotiations aimed at restructuring $12 billion in defaulted global bonds next week, Bloomberg News reported on Thursday.The post Sri Lanka to start restructuring talks with investors next week, Bloomberg News reports appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Global investors and Sri Lankan officials expect to start negotiations aimed at restructuring $12 billion in defaulted global bonds next week, Bloomberg News reported on Thursday. A steering committee, comprising of bondholders, will begin talks as they weigh a proposal from the government to rework the overseas debt that has been in default since 2022, […]
Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement for the release of $1.1bn from a $3bn bailout package the indebted country needed to avert a sovereign default. “The IMF team has reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan’s stabilisation programme,” the IMF […]
[…]The post Why The Sri Lankan Rupee Is Appreciating appeared first on Colombo Telegraph.