Sunday Observer

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26 June, 2022 0

To explore possibility of further US assistance:

A high-level delegation representing the United States Department of the Treasury and the Department of State will visit Sri Lanka, from today till June 29 to explore the possibility of further US assistance to Sri Lanka in the wake of the economic crisis, the US Embassy in Colombo said yesterday.Members of the delegation include Deputy Assistant Secretary of Treasury for Asia, Robert Kaproth and Deputy...

26 June, 2022 0

IMF-Sri Lanka talks positive

The talks in Colombo between the nine-member staff mission from the International Monetary Fund (IMF) and senior officials from the Finance Ministry have made key progress in restructuring the country’s balance of payments for much needed financial consolidation, sources at the Prime Minister’s office told the Sunday Observer yesterday.“IMF-Government negotiations have moved in a positive direction from...

26 June, 2022 0

Special credit facility for NRFC holders

A program has been formulated to provide a special credit facility for foreign exchange remitted by Sri Lankan expatriates to licensed commercial banks.Following a proposal submitted by Transport, Highways and Mass Media Minister Dr. Bandula Gunawardena, expatriates who remit funds to a Non-Resident Foreign Currency (NRFC) account at any licensed commercial bank will be eligible for an interest-free loan...

26 June, 2022 0

The one problem is debt

How much external debt Sri Lanka has incurred over the years is extremely clear — far too much. What’s not clear is what amount of debt was incurred in which period and what purposes each separate tranche of debt was used for.External debt ballooned, it seems, after the budget deficit ballooned, and we are told that this happened in the last decade or so in particular.However, successive Governments were...

26 June, 2022 0

Dr. Wijeyananda Dahanayake: a trusted champion of the poor masses

Dr. Wijeyananda Dahanayake was the fifth Prime Minister of Ceylon from September 26, 1959 to March 20, 1960. He found himself installed as Head of the Government under “fortuitous circumstances,” following the assassination of S. W. R. D. Bandaranaike. It is to his credit that he maintained stability and security of the country during his short span. He was the most illustrious, outspoken, harmless and...

26 June, 2022 0

New Investment Promotion Minister confident of stabilising rocking ship

During the meeting with President Gotabaya Rajapaksa on Thursday, Indian Foreign Secretary Vinay Kwatra had said that the Government of India will extend its fullest support to Sri Lanka in overcoming the current difficult situation as a close friend.A four-member high-ranking Indian delegation led by Indian Foreign Secretary Kwatra arrived in Sri Lanka on Thursday to hold bilateral talks on the assistance...

26 June, 2022 0

No walk-in-the-park for Sri Lanka in Galle

Elated by their triumph in the ODI series, Sri Lanka will be looking for a repeat of the home Test series against Australia in 2016 when the two teams leave aside the fanfare of white ball cricket and get down to more series stuff with the first of two Tests starting in Galle on Wednesday.Sri Lanka had a 3-0 clean sweep of Australia the last time the two teams played in a Test series in the island but the...

26 June, 2022 0

Indonesia-Sri Lanka trade Talks soon

Negotiations on the Indonesia-Sri Lanka Preferential Trade Agreement (ISL-PTA) will begin soon as both countries see the enormous potential to boost bilateral trade, said Ambassador of the Republic of Indonesia, Dewi Gustina Tobing on the sidelines of a bilateral trade forum organised by the National Chamber of Commerce of Sri Lanka in Colombo last week.Referring to a timeline Tobing said discussion...