Author: lbostgadmin
Tough Choices
The IMF plans to work on a macroeconomic impact, budgetary and balance of payments needs assessment to the tsunami-hit Sri Lanka, besides stepping in with up to US$ 160 mn in emergency financial assistance, a senior International Monetary Fund official said on Wednesday.The IMF plans to work on a macroeconomic impact, budgetary and balance of […]
Late Train
Sri Lanka’s southern rail service will be back on track by March, with the Department estimating the repair bill to restore the tract to touch Rs.1.6 billion. Sri Lanka’s southern rail service will be back on track by March, with the Department estimating the repair bill to restore the tract to touch Rs. 1.6 billion. […]
Shelving Plans
Donors say funds hang in the balance, if the government shelves long term plans such as electricity reforms lined up this year, as tsunami re-building takes centre stage.Donors say funds hang in the balance, if the government shelves long term plans such as electricity reforms lined up this year, as tsunami re-building takes centre stage. […]
Building Block
The government has finally approved coastal building regulations, under the Urban Development Authority(UDA), for tsunami-damaged parts of the country.The government has finally approved coastal building regulations, under the Urban Development Authority(UDA), for tsunami-damaged parts of the country. Under latest guidelines no new construction is allowed up to 100m in the western coast and 200m in […]
Credit Slip
Sri Lanka’s tsunami tragedy will affect an estimate Rs. 20 billion in loans given out by commercial banks to individuals and business in the ravaged coastal belt.Sri Lanka’s tsunami tragedy will affect an estimate Rs. 20 billion in loans given out by commercial banks to individuals and business in the ravaged coastal belt. A fraction […]
Confused Comrades
The JVP wants all tsunami-affected businesses released from their current and previous tax obligations. The JVP wants all tsunami-affected businesses released from their current and previous tax obligations. The government’s main coalition partner, the JVP is calling for blanket tax concessions for tsunami-affected businesses – when the government says no tax breaks. In a statement […]
Money Galore
The World Bank’s private sector financing arm is offering cash grants through its business investments in Sri Lanka who have undertaken post-tsunami reconstruction work.The World Bank’s private sector financing arm is offering cash grants through its business investments in Sri Lanka who have undertaken post-tsunami reconstruction work. Sanjiva Senanayake, the International Financial Corp’s Resident Representative […]
US Defence Secretary says Sri Lanka may not need its troops for much longer.
Visiting US military leaders say Sri Lanka is well on the road to recovery and that its troops may not be needed much longer as the immediate the relief phase ends.Visiting US military leaders say Sri Lanka is well on the road to recovery and that its troops may not be needed much longer as […]
The Treasury says it already has US$ 500 mn needed for tsunami reconstruction work for this year
The Treasury says it has already secured US$ 500 mn that is needed for reconstruction work of tsunami damages for this year.The Treasury says it has already secured US$ 500 mn that is needed for reconstruction work of tsunami damages for this year. “We have already secured the US$ 500 mn that is needed for […]
US pulls back ships from Sri Lanka, Tigers take flack over child soldiers
The US Monday pulled back two military supply ships deployed for tsunami-relief operations in Sri Lanka even as Canada vowed a long-term commitment of its troops to help the island get back on its feet. The US Monday pulled back two military supply ships deployed for tsunami-relief operations in Sri Lanka even as Canada vowed […]
Tsunami Act
Sri Lanka is to arm itself with tough emergency laws before a major post-tsunami reconstruction effort which has secured unprecedented international financial backing, officials said. Sri Lanka is to arm itself with tough emergency laws before a major post-tsunami reconstruction effort which has secured unprecedented international financial backing, officials said. The laws proposed by President […]
Government expects public investment to jump to 9.5 percent of GDP this year and says debt moratorium will give over US$ 500 million in BOP support
Government expects public investment to jump to 9.5 percent of GDP this year and says debt moratorium will give over US$ 500 million in BOP support.Government expects public investment to jump to 9.5 percent of GDP this year and says debt moratorium will give over US$ 500 million in BOP support. Treasury Secretary P. B. […]