Sri Lanka’s economy is suffering both internally and externally. Internally, a large budget gap continued to exist due to the severe deficit between Government revenue and expenditure while externally a wide gap between imports and exports has been created and the trade deficit has been detrimental to the country for a prolonged period of time.The failure to address the issues took the country down a path...
The International Monetary Fund’s Extended Fund Facility was approved at its Board of Directors meeting on Monday night.President Ranil Wickremesinghe stayed in the President’s office with the two State Finance Ministers and other Finance Ministry officials until the decision was received. President’s Chief of Staff Sagala Ratnayaka and President’s Secretary Saman Ekanayake stayed there to support the...
At a time when Sri Lankan schoolboys are showcasing their prowess on the cricket field with authority and promise, the petted and pampered Sri Lanka team crashed mockingly to a shameful defeat, bowled out for 76 chasing New Zealand’s 274 in the first ODI in Auckland yesterday.The Sri Lankans fell like nine pins from the second over of their target chase when opener Nuwanidu Fernando was run out for 4...
If Sri Lanka has to permanently get out of the current economic crisis the country has to make drastic structural changes, said former Governor of the Central Bank of Sri Lanka, Dr. Indrajit Coomaraswamy.He told a zoom event titled ‘What is next for Sri Lanka in the wake of the IMF program’ organised by the Central Bank of Sri Lanka that the IMF has given very comprehensive guidelines in this regard and...
