Category: Economy and Markets
World Bank warns that Sri Lanka’s short election cycles and populist policies may turn the island into a banana republic
A multilateral lender has warned that Sri Lanka’s increasingly short election cycles and populist policies are threatening to turn the island into an unstable Latin American-style republic. A multilateral lender has warned that Sri Lanka’s increasingly short election cycles and populist policies are threatening to turn the island into an unstable Latin American-style republic. “The […]
Foreign donors put Sri Lanka on notice amid war fears
International donors are warning the Sri Lankan government that it risks returning to war if it does not overcome opposition from coalition allies and resume peace talks with Tamil Tiger rebels, analysts and diplomats said.International donors are warning the Sri Lankan government that it risks returning to war if it does not overcome opposition from […]
Sri Lankan, Mistaken As American, Faces Terror In Iraq
Day after day, locked in a cement room somewhere in Iraq, the hooded men beat him.They told him he would be beheaded.“Ameriqi!” they shouted, even though he comes from this poor Sri Lankan fishing village.Day after day, locked in a cement room somewhere in Iraq, the hooded men beat him. They told him he would […]
Fears rise for Sri Lanka peace process as Norway fails to end deadlock
A top Norwegian envoy who failed in his latest effort to revive Sri Lanka’s peace talks has warned both parties to honour a truce or risk a return to full-scale war, diplomats said Friday.A top Norwegian envoy who failed in his latest effort to revive Sri Lanka’s peace talks has warned both parties to honour […]
Central Bank forecasts 6% GDP next year
Sri Lanka’s economy could grow 6.0% in 2005 on a continued cease-fire between government troops and rebel forces, an easing of a drought that hurt agriculture this year and lower crude oil prices, said the central bank’s governor, Sunil Mendis.Sri Lanka’s economy could grow 6.0% in 2005 on a continued cease-fire between government troops and […]
Haphazard reform saddles Sri Lanka with skewed growth and persistent poverty.
Haphazard reform has saddled Sri Lanka with unequal and skewed growth, the World Bank says in its new country report.Haphazard reform has saddled Sri Lanka with unequal and skewed growth, the World Bank says in its new country report. “There has been enough growth in Sri Lanka to have already achieved the millennium development goals […]
Norway embassy closes after anthrax scare
Sri Lanka’s peace broker Norway shut its embassy in Colombo Thursday after the diplomatic mission received a package containing a white powder suspected to be anthrax, police said. Sri Lanka’s peace broker Norway shut its embassy in Colombo Thursday after the diplomatic mission received a package containing a white powder suspected to be anthrax, police […]
Sri Lanka banks on higher aid flows to prop its rupee and foreign reserves
Sri Lanka is banking on higher foreign aid inflows to lift the rupee from its doldrums and replenish country reserves that dissolved rather quickly after high crude oil prices blew a hole in its balance sheet.Sri Lanka is banking on higher foreign aid inflows to lift the rupee from its doldrums and replenish country reserves […]
FTA with Pakistan in honour of President’s visit
Pakistan and Sri Lanka will meet next week to tie up a free trade agreement between the two countries by the time Sri Lanka’s President pays a visit to Pakistan next year. Pakistan and Sri Lanka will meet next week to tie up a free trade agreement between the two countries by the time Sri […]
Foreign donors accuse Marxists of sabotaging Sri Lanka peace bid
International aid donors asked President Chandrika Kumaratunga to rein in her Marxist ally after accusing them of undermining Norwegian-led peace efforts in a move that push Sri Lanka back to war.International aid donors asked President Chandrika Kumaratunga to rein in her Marxist ally after accusing them of undermining Norwegian-led peace efforts in a move that […]
Sri Lanka makes no change to its short term interest rates
The Central Bank kept its key short-term interest rates steady in December, following its monthly monetary policy announcement late Tue.The Central Bank kept its key short-term interest rates steady in December, following its monthly monetary policy announcement late Tue. The overnight repurchase (repo) and reverse repurchase (reverse repo) rates will remain at 7.5 percent and […]
World Bank cleared a US$ 75 million loan to Sri Lanka
A World Bank Wednesday cleared a US$ 75 million loan to Sri Lanka for housing reconstruction in the war ravaged North and East of the island.A World Bank Wednesday cleared a US$ 75 million loan to Sri Lanka for housing reconstruction in the war ravaged North and East of the island. Around 46,000 poor, conflict-affected […]