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The International Monetary Fund (IMF) on Saturday called for ‘timely and orderly processes’ under common framework with regards to Sri Lanka’s debt resolution. The island nation faced severe economic crisis which resulted in high debt.The post IMF calls for ‘timely and orderly processes’
[…]The post Sri Lanka’s Asian Heritage appeared first on Colombo Telegraph.
Aljazeera reports that there is a severe shortage of greenbacks in Bangladesh due to its dwindling foreign reserves and a sharp drop in the value of its taka currency against the dollar. In the past six months, Bangladesh’s foreign reserves have dropped below $32bn from $39bn while the value of the taka has fallen by […]
By Noah Berman A wave of darkness engulfed Pakistan on January 24 as its aging power grid strained to meet the country’s demand for electricity. The massive outage was the latest in a series of blackouts that have become a chronic symptom of Pakistan’s ailing and climate-vulnerable economy, under duress from devastating natural disasters, a colossal […]
India is drafting a proposal for G20 countries to help debtor nations badly hit by the economic fallout from the pandemic and Ukraine war, by asking lenders including China, the world's largest sovereign creditor, to take a large haircut on loans.The post Exclusive: G20 host India to propose China, other creditors take haircuts on loans – sources appeared first on Sri Lanka News - Latest Bre...
Moldova’s Government has collapsed and its pro-EU prime minister has stepped down after 18 months of political and economic turbulence. Europe’s poorest country was struggling with “multiple crises”, outgoing PM Natalia Gavrilita said on Friday. With the war raging in neighbouring Ukraine, Moldova has been facing inflation, high energy prices, a refugee influx and Russian [...
US President Joe Biden has warned that the US will move to protect itself if China threatens its sovereignty as he used a joint address to Congress to deliver a defiant message to Beijing and defend his economic record in the White House. “I am committed to work with China where it can advance American […]
By Shamindra Ferdinando Eric Walsh presented his credentials to President Ranil Wickremesinghe, on Feb. 02, at the President’s House in Kandy. Wickremesinghe was flanked by Foreign Minister Ali Sabry, PC, and Presidential Secretary Saman Ekanayake. Canada, with the concurrence of Sri Lanka, appointed Walsh as High Commissioner of Canada to Colombo. Walsh, who had served […]
[…]The post Is The World, Hopelessly Divided Over Ukraine, Coming Together For Sri Lanka? appeared first on Colombo Telegraph.
USD 3 mn Japanese grant attached to ongoing project By Shamindra Ferdinando An agreement on the much advertised cash assistance, provided exclusively to paddy farmers by the Wickremesinghe-Rajapaksa government, was finalised several weeks before then President Gotabaya Rajapaksa stepped down on July 14, 2022 amidst violent protests. The Asian Development Bank (ADB) has provided the […]
A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7%, but the losses could reach 8-12% in some countries, if technology is also decoupled, the International Monetary Fund (IMF) said in a new staff report.The post IMF says fragmentation could cost global economy up to 7% of GDP appeared first on Sri Lanka News ...
Sri Lanka: Crisis of Rights, Accountability (Jakarta, January 12, 2023) – The change of presidents of Sri Lanka in 2022 did not lead to any improvement in the country’s human rights record, Human Rights Watch said on Wednesday in its World Report 2023. During 2022, thousands of Sri Lankans
[…]The post Change Of Presidents Did Not Lead To Any Improvement In Human Rights: HRW appeared first on Colombo Telegraph.
President Ranil Wickremesinghe has responded to calls for reform and accountability with repression, Human Rights Watch said today following the release of its World Report 2023. The change of presidents of Sri Lanka in 2022 did not lead to any improvement in the country’s human rights record, Human Rights Watch said in the report. During 2022, […]
The New Year 2023 is definitely going to be a significant year for India’s leadership ambitions. India’s presidency of the G20 forum as well as the Shanghai Corporation Organization (SCO), brings with itself the rare opportunity to present to the world that India is well-prepared and well-equipped to clinch its position as an emerging power. […]
By Easwaran Rutnam Private companies who lent at high interest rates are holding up vital debt relief for Sri Lanka, a group consisting of over 180 global economists and development experts said. Debt Justice said that these private companies, who lent to corrupt politicians, must face consequences from their risky lending by cancelling Sri Lanka’s […]
Bangladesh Prime Minister Sheikh Hasina and Sri Lankan President Ranil Wickremesinghe will be among 20 world leaders who will participate in the “Voice of the Global South Summit” (VGSS) next week hosted by India virtually, Indian media reported.The post President to participate in India-hosted Voice of Global South Summit – report appeared first on Sri Lanka News - Latest Breaking News in S...
President Ranil Wickremesinghe will be among 20 world leaders who will participate in the “Voice of the Global South Summit” (VGSS) next week hosted by India virtually. The summit will take place on January 12 and January 13 and will be chaired by Prime Minister Narendra Modi. Other than leaders from the neighbourhood, leaders from […]
[…]The post President RW’s Priority In 2023 appeared first on Colombo Telegraph.
[…]The post Prospects For Global Capitalism: 2023 & After appeared first on Colombo Telegraph.
and the potential of another financial crisis, said former vice-finance minister Zhu […]
[…]The post Where Are We Heading In 2023? appeared first on Colombo Telegraph.
When Sri Lanka slid into its worst economic crisis in seven decades leading to deadly riots and alarming shortages of fuel, food and medicines earlier this year, its giant northern neighbour stepped into the breach.The post India makes inroads into Sri Lanka under China’s long shadow appeared
By Dr Laksiri Fernando One mistake we normally make in analysing the situation or crisis in Sri Lanka is to do it in isolation. Sri Lanka is unfortunately only a part of a world system. Although this situation is valid to almost all other countries, smaller or weaker a country, larger
Pakistan is making efforts to find a new energy alliance to ensure an uninterrupted energy supply to households and industries, Geo-Politik reported. Pakistan is trying to diversify its energy sources for tackling the energy crisis. A delegation of Pakistani ministers, including the Minister
Burkina Faso’s Government has expelled the top UN diplomat in the country who was a former UN official in Sri Lanka. Barbara Manzi, the United Nations’ resident and humanitarian coordinator in the West African nation, was declared persona non grata, the foreign affairs ministry said in a statement. Burkina Faso has been wracked by violence […]
President Ranil Wickremesinghe stressed that everyone should unite to fulfil their moral responsibility for the country, sidelining the traditional political system of trying to grab power at the next election by palming off all the responsibilities on the government.The post Step out of traditional politics and fulfil moral responsibility – President appeared first on Sri Lanka News - Lates...
Some countries, such as Algeria, Jordan, Morocco and Oman, offered concessions including constitutional changes, to stall protests. Ukraine’s famed ‘Maidan Protest,’ in 2013-14 led to the overthrow of pro-Russian dictator, Yanukovych. by HARSHA KAKAR The Arab Spring in 2010-11 challenged and overthrew authoritarian governments in the Middle East and North Africa. They commenced in Tunisia […...
Months into Russia’s invasion of Ukraine, it is becoming increasingly clear that the latter’s traumas would not end any time soon. Nor is the invader registering any notable gains from its fatal decision to annex Ukraine by armed means and might. However, it’s abundantly clear that the destabilizing economic consequences for the world from the […]
[…]The post Budget 2023: A Depth Or Dearth appeared first on Colombo Telegraph.