Category:
Sri Lanka IMF supported budget implies tight second half
July 27, 2009 (LBO) – Sri Lanka’s IMF supported budget for 2009 implies a more credible revenue target, maintaining nominal capital expenditure at previous year’s levels in an economy that is inflating less, initial analysis shows.Sri Lanka’s runaway budgets were the underlying reason for the balance of payments crisis last year. IMF said short term […]
Sri Lanka keeps back IMF technical MOU
July 27, 2009 (LBO) – Sri Lanka has not released the technical memorandum of understanding between the government and the International Monetary Fund, taking a step back from the level of transparency established earlier.Sri Lanka’s central bank has published a letter of intent (LOI) and a memorandum of economic and financial policies (MEFP) relating to […]
Slow Lane
July 26, 2009 (LBO) – Too many transport ministries and agencies which do not co-ordinate effectively has resulted in poor transport service in Sri Lanka and delayed its aim of becoming a hub, an expert said. There were also high levels of exclusion between different modes – land, water, air – with three ministries involved. […]
‘s tryst with truth draws protests
NEW DELHI, July 26, 2009 (AFP) – The Indian version of a US reality TV show that extracts secrets from minor celebrities has caused protests and a furore in parliament with its focus on infidelity, incest and other taboo subjects. Indian Express columnist Shubhra Gupta was similarly insistent that viewers should be the final arbiters […]
Sri Lanka IMF program a framework for donor support: mission chief
July 26, 2009 (LBO) – A 20-month International Monetary Fund backed economic plan will boost Sri Lanka’s reserves and provide a framework for donors to back post-war reconstruction, an official who led the mission to the island said. Though an immediate priority of the government was providing relief to refugees, reconstruction needs would grow over […]
Sri Lanka central bank to clean up data act under IMF program
July 26, 2009 (LBO) – Sri Lanka’s central bank will improve data reporting following the approval of a 2.6 billion US dollar facility by the International Monetary Fund, a loan document released by the monetary authority said. IMF sent a ‘safeguards assessment’ mission to the central bank in May to ensure that its funds could […]
Court Block
July 25, 2009 (AFP) – A Sri Lankan court has ordered a dozen websites to be blocked for allegedly containing pornographic material involving local women and children, a press report said Saturday.The Telecommunications Regulatory Commission (TRC) was asked to block access to the 12 websites, including redtube.com, an adult-content sharing portal, the Lankadeepa newspaper said. […]
Tech Venture
July 25, 2009 (LBO) – Sri Lanka’s Aitken Spence had formed a company to develop hotel sector software, California Software Company Limited (Calsoft), a Bombay listed Indian information technology firm has said. The company will develop software targeting businesses operating in the hospitality industry at first. The joint venture firm named ‘CalSpence’ will have its […]
Sri Lanka gets US$2.6bn from IMF on tight budget, rupee flexibility
July 25, 2009 (LBO) – The International Monetary Fund has approved a 2.6 billion US dollar loan to Sri Lanka with a 322 million dollar tranche being immediately disbursed on a program that is aiming to keep the budget deficit at 7.0 percent of the economy. The IMF said a combination of short term foreign […]
Sri Lankan stocks up 4.0-pct during week
July 24, 2009 (LBO) – Sri Lankan shares gained on Friday as foreign investors pushed up trading volumes especially on selected blue chips such as John Keells Holdings (JKH) and banking counters, brokers said.Dialog Telekom a unit of Telekom Malaysia closed flat at 5.25 rupees. “Further improvement in activity level was seen due to the […]
Daft Draft
July 24, 2009 (LBO) – Sri Lanka’s draft national transport policy came in for strong criticism at a public forum by experts who said it ignored important modes of private transport and private sector investment. Rohan Samarajiva, head of LirneAsia, a regional think tank, said the policy was also silent on opportunities in rebuilding transport […]
Sea Links
July 24, 2009 (LBO) – Sri Lanka plans to propose reviving ferry services and a railway link with India, across the Palk Straits, at a conference of south Asian transport ministers in Colombo, the island’s transport ministry said.The two proposals will be put forward by the government during a meeting of transport ministers of the […]