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SLT-Mobitel announces national proposal: Focused on technology and digitally empowered citizens
– SLT-MOBITEL, the leading communication and technology service provider in Sri Lanka announced a national proposal to enhance critical services and sectors, and digitally empower citizens. SLT-MOBITEL, one of the most powerful players in the telecommunications and technology sector, cites archaic legacy systems, inefficiency, corruption, heavy operational costs and waste in critical sectors and services […]
Sri Lanka’s Runaway Inflation and the Limits of Monetary Policy
By Dr Dushni Weerakoon: The bad news on inflation keeps coming. As of June 2022, year-on-year (YOY) inflation nationally is estimated at an all-time high of 59%. Annual inflation is lagging significantly behind at around 21%, indicative of the speed at which price inflation has been spiralling in recent months. This is in sharp contrast to Sri Lanka’s previous bout of high inflation in 2008 […]
Blockchain platform SORA announced launch XOR currency in Sri Lanka
XOR – a blockchain-based currency under SORA – a blockchain-platform that holds XOR (the currency code for the cryptocurrency SORA) announced the launch of the cryptocurrency in Sri Lanka in July 2022. SORA (XOR) isn’t owned by any single nation or individual, but belongs to all of its users, and is designed as a new […]
Diplomat Podcast: Economist Dr. Ganeshan Wignaraja on SL economic crisis
July 25, 2022 (LBO) – Former Executive Director of the Lakshman Kadirgamar Institute Dr. Ganeshan Wignaraja gave a comprehensive analysis of Sri Lanka’s economic crisis to “The Diplomat” publication recently.The interview with Luke Hunt, one of the most articulate on the crisis so far, takes stock of the current situation and points a path forward. […]
Ceylon Chamber Congratulates New President & Highlights Key Priorities
The Chairman of the Ceylon Chamber of Commerce, congratulating the new President of Sri Lanka through a letter, has highlighted key areas that require priority attention. Key priorities: Resuming discussions with the IMF urgently to reach a staff level agreement soon. Expediting the negotiations with creditors to successfully conclude the debt restructuring process […]
Parliament elects Ranil Wickremesinghe as Succeeding President of Sri Lanka
Parliament on Wednesday elected Ranil Wickremesinghe as the Succeeding President by the votes of the Members of Parliament. Accordingly, Ranil Wickremesinghe received 134 votes, Dullas Alahapperuma received 82 votes and Anura Kumara Dissanayake received 3 votes. The names of three Members of Parliament were proposed and seconded in the Parliament yesterday (19) for the vacancy […]
Invest to progress, not to regress: bridging the infrastructure gaps in Sri Lanka
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 […]
Sri Lanka’s Deepening Economic Crisis: The Plight of the Poor
By Lakshila Wanigasinghe: Empty supermarket shelves, endless queues to buy essentials and overnight camping around fuel stations are now regular sights in Sri Lanka. As the economy continues to plummet with no viable short-term solutions in sight, levels of frustration among the citizens continue to rise. The country’s worst economic crisis since independence has battered […]
Sri Lanka introduces QR-based National Fuel Pass to manage fuel usage
The Ministry of Power & Energy today introduced the National Fuel Pass allowing the general public to purchase a guaranteed quota of fuel per week. Accordingly, one vehicle can be registered under one National Identity Card, Passport, or Business Registration Number. Registrations are open via fuelpass.gov.lk website. “A QR code will be allocated to each […]
IMF expects to resume discussions with Sri Lanka as soon as possible
The International Monetary Fund says that they are hoping for a resolution of the current turmoil in Sri Lanka in order to resume the discussions on an IMF-supported program. “We hope for a resolution of the current situation that would allow for our resumption of a dialogue on an IMF supported program,” Gerry Rice of […]