On Sri Lanka’s reform-regress-run to the IMF crisis cycle By Daniel Alphonsus Countries never learn from others’ mistakes, they only learn from their own. Sri Lanka is an exception: we don’t even learn from our folly. Apparently neither does the IMF. Sri Lanka’s 17th IMF programme is set to be approved on March 20th. Is…
The participants of the adventure trail ‘Raid Amazones 2023’ arrived at Bandaranaike International Airport this morning (20 March) on SriLankan Airlines’ flight UL 564 from Paris. SriLankan Airlines is the Presenting Partner of Raid Amazones and extended a warm welcome with a traditional flare to the arriving group. The group boarded the Udarata Menike train…
Authorities had been scrambling to rescue Credit Suisse before financial markets reopened on Monday. ALJAZEERA – Switzerland’s largest bank, UBS, has agreed to buy Credit Suisse for 3 billion Swiss francs ($3.24bn), officials from the banks have said, in a deal designed to contain a widening crisis of confidence in global finance. The agreement, announced late…
Great importance was given to the African continent in the Presidential announcement on the 75th anniversary of independence where President Ranil Wickremesinghe met with the envoys from the African region. The meeting was organised by the Ministry of Foreign Affairs on 3rd February 2023 at the Presidential Secretariat. To coincide with the momentous occasion Mr….
nvestors are betting that Sri Lanka will win final approval for about $2.9 billion bailout from the International Monetary Fund on Monday, a key step for the bankrupt nation to revive its economy from the worst crisis in decades. The South Asian nation’s dollar bonds have returned 20% this year, the top performers in the…
Reuters – International Monetary Fund Managing Director Kristalina Georgieva will travel to China from March 24 to March 30, IMF sources told Reuters on Friday. Georgieva will deliver a keynote speech at the China Development Forum (CDF) in Beijing on March 26, and speak at the Boao Forum for Asia Annual Conference on March 30…
With regard to the captioned matter, we would like to clarify that we have not received any direct or indirect requests or instructions from any state institution to close their accounts with us. We wish to strongly emphasize that People’s Bank has always been a trusted partner for state organizations in providing reliable banking services,…
First 100 customized e-cycles handed over to delivery partners Yet another Uber initiative to promote sustainability on its platform Customized, delivery-friendly e-cycles: Range of 100+ km and top speed of 30 km/hr Uber Eats, Sri Lanka’s most loved food and grocery delivery platform, today brought on board 100 electric cycles on its platform. The e-cycles…
Direct exposures to Silicon Valley Bank (SVB) and Signature Bank among Fitch Ratings’ portfolio of rated banks in APAC appear limited, says Fitch. Weaknesses that contributed to the failure of the two banks are among the factors already considered in our rating assessments for APAC banks, but these are often offset by structural factors, such…
Reuters – Sri Lanka will introduce new central bank legislation with the intent of improving independence, accountability and price stability in the country, central bank governor Nandalal Weerasinghe said on Thursday. Sri Lanka is waiting for a $2.9 billion bailout program from the International Monetary Fund (IMF) to be finalised on March 20 and establishing…
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