Category:
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 […]
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 […]
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. […]
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 […]
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 […]
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 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 […]
Deal?
Top bureaucrats were frantically trying to secure a deal with the LTTE for relief to reach thousands affected by the Tsunami in areas under their control. Top bureaucrats were frantically trying to secure a deal with the LTTE for relief to reach thousands affected by the Tsunami in areas under their control. Government still has […]
Tsunami Boom
The tsunamis that ravaged Sri Lanka are unlikely to dampen the island nation’s booming property market in the months ahead as foreigners hopefully sniff out bargains and aid floods in, analysts said.The tsunamis that ravaged Sri Lanka are unlikely to dampen the island nation’s booming property market in the months ahead as foreigners hopefully sniff […]
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. […]
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’ […]
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 […]