Category: Economy

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 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 […]

Top officials from the main international donor agencies will meet with LTTE top brass on Thursday to discuss tsunami damages. Top officials from the main international donor agencies will meet with LTTE top brass on Thursday to discuss tsunami damages. “The country directors of the Asian Development Bank (ADB), World Bank and senior officers of […]

Only US$ 717mn materialises in Geneva on Tuesday out of the nearly US$ 4 bn worth of promises made on behalf of tsunami victims.Only US$ 717mn materialises in Geneva on Tuesday out of the nearly US$ 4 bn worth of promises made on behalf of tsunami victims. “The UN already had concrete commitments today from […]

A visiting team of US lawmakers say aid needs to vary in form and be spread over time to support long term relief efforts in tsunami affected nations.A visiting team of US lawmakers say aid needs to vary in form and be spread over time to support long term relief efforts in tsunami affected nations. […]

Sri Lanka’s Central Bank says the negative fall out from the tsunami will be mitigated by growth in reconstruction and rehabilitation, though the devastation has left the country with a US$ 1.4 bn repair bill. Sri Lanka’s Central Bank says the negative fall out from the tsunami will be mitigated by growth in reconstruction and […]

Sri Lanka’s Central Bank says the negative fall out from the tsunami will be mitigated by growth in reconstruction and rehabilitation, though the devastation has left the country with a US$ 1.4 bn repair bill. Sri Lanka’s Central Bank says the negative fall out from the tsunami will be mitigated by growth in reconstruction and […]

The U.S. government will not back European-led calls for a suspension of debt repayments by tsunami- stricken countries until it determines whether that’s in the best interests of the nations involved, a U.S. Treasury spokesman said. The U.S. government will not back European-led calls for a suspension of debt repayments by tsunami- stricken countries until […]

The Ceylon Chamber of Commerce is lobbying the Treasury to be included in a list of agencies allowed to bring in duty free relief shipments to help tsunami victims.The Ceylon Chamber of Commerce is lobbying the Treasury to be included in a list of agencies allowed to bring in duty free relief shipments to help […]

The US contribution to rehabilitating tsunami wrecked Sri Lanka comes to US$ 25 mn already, says outgoing US Secretary of State, Colin L.Powell. The US contribution to rehabilitating tsunami wrecked Sri Lanka comes to US$ 25 mn already, says outgoing US Secretary of State, Colin L. Powell. “The total US contribution so far is US$ […]

The Asian Development Bank (ADB) pledges US 0 mn to Indonesia, Maldives, and Sri Lanka at the Jakarta donor conference on Thursday.The ADB said it will provide up to US $500 mn to Indonesia, Maldives, and Sri Lanka in the form of grants and highly concessional funds to rebuild after Decembers tsunamis. In addition, more […]

As foreign aid jams the single international airport available, the Sri Lankan government and the LTTE, lock horns to gain control over relief supplies.As foreign aid jams the single international airport available, the Sri Lankan government and the LTTE, lock horns to gain control over relief supplies. The Tamil Rehabilitation Organisation (TRO) – a registered […]