Author: lbostgadmin
Digging Deep
The Asian Development Bank says it is not keen on offsetting debt, but is pushing for more grant aid and a re-scheduling of loans. Sri Lanka owes the Manila based bank a total of US$ 1.6 bn in total to date, with debt repayment this year standing at US$ 75 mn. Given the ‘extraordinary financing’ […]
UN steps in with US$ 166 mn urgent aid for tsunami relief work, including US$ 30 mn payable through cash schemes for survivors
United Nations agencies have stepped in with US$ 166 mn in urgent aid for Sri Lanka, part of which will fund a scheme to set off tax liabilities of some half a million people who have lost all paper in the recent tsunami.United Nations agencies have stepped in with US$ 166 mn in urgent aid […]
Norway in post-tsunami bid to salvage Sri Lanka peace process
Norway will next week launch its first post-tsunami attempt to salvage Sri Lanka’s faltering peace process, diplomatic sources here said.Norway will next week launch its first post-tsunami attempt to salvage Sri Lanka’s faltering peace process, diplomatic sources here said. Top peace envoy Erik Solheim is due here for talks with Sri Lankan leaders as well […]
As Expected
Sri Lanka’s request for a US$ 113.5 mn debt moratorium on interest payments due to the International Monetary Fund came through on Thu., freeing up some cash for emergency post-tsunami reconstruction bills.Sri Lanka’s request for a US$ 113.5 mn debt moratorium on interest payments due to the International Monetary Fund came through on Thu., freeing […]
ADB says 2 mn more people could be pushed into poverty after tsunami
The Asian Development Bank says the wall of water that ripped across southern Asia last month, killing more than 150,000, could throw nearly 2 million additional people into poverty.According to a report released by the ADB today “The poverty impact of the tsunami will be enormous,” said Ifzal Ali, Chief Economist with the Manila-based multilateral […]
The US says it has provided more than US$ 38 mn in emergency assistance to Sri Lanka.
The US announced on Thursday that it had provided more than US$ 38 mn in emergency relief assistance to Sri Lanka.The US announced on Thursday that it had provided more than US$ 38 mn in emergency relief assistance to Sri Lanka. “The United States has so far provided more than US$ 38 mn in emergency […]
Where Are They?
Sri Lanka’s tsunami orphans could be further traumatized unless they are quickly reunited with their surviving relatives, rights organisations warned amid calls to put them up for adoption.Sri Lanka’s tsunami orphans could be further traumatized unless they are quickly reunited with their surviving relatives, rights organisations warned amid calls to put them up for adoption. […]
Mine Scare
Landmine ban advocacy groups have said claims of shifting landmines are exaggerated, with the tsunami uprooting just about ten of the explosive devices in all un-cleared areas.Landmine ban advocacy groups have said claims of shifting landmines are exaggerated, with the tsunami uprooting just about ten of the explosive devices in all un-cleared areas. The past […]
Tourism industry pushes through delayed reforms as it plans tsunami recovery
A tsunami that wrecked Sri Lanka’s coast in peak tourist season is having its better fallouts, pushing through delayed reform plans while the sector bounces back.A tsunami that wrecked Sri Lanka’s coast in peak tourist season is having its better fallouts, pushing through delayed reform plans while the sector bounces back. The Tourism Ministry said […]
Debt Grace
The Paris Club of creditor nations offered an unconditional freeze on debt repayments for Indonesia, the Seychelles and Sri Lanka to help them recover from last month’s catastrophic tidal waves.The Paris Club of creditor nations offered an unconditional freeze on debt repayments for Indonesia, the Seychelles and Sri Lanka to help them recover from last […]
Fluid Picture
International rating agency Fitch Ratings, says a debt moratorium extended by the Paris Club, deferring external debt service for an as yet unspecified period could lead to an unintended bunching of repayments and more generalised debt service difficulties at a later date.Making its observation before the Paris Club meeting Fitch says that the G7 external […]
Money Matters
Civil rights groups are calling on the government and other non-governmental organisations (NGO) for transparency in tsunami relief operations.Civil rights groups are calling on the government and other non-governmental organisations (NGO) for transparency in tsunami relief operations. “An immediate attempt should be made to account for all donations that have been received for reconstruction and […]