Georgieva says global outlook to be downgraded as recession risk ‘has gone up’ Nikkei Asia (TOKYO) – The International Monetary Fund hopes to complete rescue talks with Sri Lanka “as quickly as possible,” Managing Director Kristalina Georgieva said on Wednesday, hours before the crisis-hit South Asian nation elected a new president. Speaking with Nikkei Asia…
By Mark Mobius When Sri Lanka’s financial crisis started to deepen a few months ago, I decided to visit the country to observe first-hand the political and social developments. At the time, street demonstrations were still peaceful and power outages were few and far between, at least in the hotel I stayed at, where private…
The Insurance Association of Sri Lanka (IASL) would like to clarify their position regarding a recent inaccurate news article being circulated regarding the procedure of issuing National Fuel Passes. As the representative body of the insurance industry of Sri Lanka, the Insurance Association of Sri Lanka (IASL) states that the information is incorrect and categorically…
With the aim of supporting the local fashion industry further progress in improving their ESG performance in their supply chains and their operations, given the growing focus of stakeholders and consumers who expect an emphasis on sustainability and social responsibility from their fashion brands, PricewaterhouseCoopers (PwC), collaborated with the Export Development Board of Sri Lanka (EDB)…
Sri Lanka presented its second Voluntary National Review (VNR) on the achievement of the Sustainable Development Goals (SDGs) Friday (15) at the High Level Political Forum (HLPF), convened under the auspices of the United Nations Economic and Social Council in New York. The Report entitled ‘Inclusive Transformation Towards a Sustainably Developed Nation for All’ was…
The Alumni Association of the Postgraduate Institute of Management (PIMA) is the largest and the strongest MBA Alumni network in Sri Lanka, with a professional strength that is widely spread, representing multi-disciplines which goes beyond 5,000 members. PIM Alumni, as the Nations Thought Leaders, express their concern over the current state of affairs in the…
By: Tiffahny Hoole and Janani Wanigaratne Sri Lanka is going through a crisis of a magnitude that has never been witnessed in its economic history. The country is in disarray as people wait in lines to purchase essentials. Official reserve assets have plummeted to a US Dollar 1920[1] million by May this year and the…
CNN – Sri Lanka’s acting President Ranil Wickremesinghe has said the country’s previous administration was “covering up facts” about its crippling financial crisis. Former leader Gotabaya Rajapaksa’s government did not tell the truth, that Sri Lanka was “bankrupt” and “needed to go to the International Monetary Fund (IMF),” Wickremesinghe told CNN from parliament in the nation’s administrative capital Sri Jayawardenepura…
‘It was my duty to convey the support for democracy to the Sri Lanka Speaker in-person and reiterate to him the support that India has provided to the people of Sri Lanka in their difficult times.’ India needs that the continuing transition in Sri Lanka won’t solely be “easy,” it’ll additionally assist the island nation…
Reuters – Sri Lanka’s acting President Ranil Wickremesinghe said on Monday that the country had almost concluded negotiations with the International Monetary Fund (IMF), a day after he declared a state of emergency in the island nation. “The acting president further explained that negotiations with the International Monetary Fund (IMF) were nearing conclusion, and discussions…
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