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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 […]
Debt a la carte
The United Kingdom has come forward to pick up 10 percent of Sri Lanka’s debt repayments to multilateral lenders from next year, as part of the UK government’s efforts to ease the island nation’s US$ 1.5 bn tsunami reconstruction cost.The United Kingdom has come forward to pick up 10 percent of Sri Lanka’s debt repayments […]
Sea Rescue
A group of volunteers are being banded together to form the country’s first Sea Rescue Institution, to search and save life in local maritime disasters.A group of volunteers are being banded together to form the country’s first Sea Rescue Institution, to search and save life in local maritime disasters. Thought up well before the tsunami […]
Beached People
Sri Lanka will publish new building guidelines to start rebuilding tsunami-damaged houses along the coast, in a few days time, says the Urban Development Authority (UDA).Sri Lanka will publish new building guidelines to start rebuilding tsunami-damaged houses along the coast, in a few days time, says the Urban Development Authority (UDA). “We have identified three […]
Top officials from international donor agencies to meet with LTTE top brass
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 […]
US lawmakers say aid needs to vary in form and be spread over time
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. […]
Only US$ 717mn materialises in Geneva out of nearly US$ 4 bn worth of promises for 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.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 […]
Trick ‘n Treat
Top multilateral donors who are drawing up new financing plans for Sri Lanka’s post-tsunami period are due to stump up over US$ 500 mn in additional loans in the coming weeks, a joint statement said Tue.Top multilateral donors who are drawing up new financing plans for Sri Lanka’s post-tsunami period are due to stump up […]
Central Bank says tsunami’s negative impact may be mitigated by the reconstruction and rehabilitation activities
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 […]
Central Bank leaves its short-term interest rates intact, though warns of possible downside economic risk following the recent tsunami
Sri Lanka’s Central Bank opted not to tinker with its short-term interest rates for the second consecutive month, though there may be some downside risks on economic performance this year due to the recent tsunami. The bank said its overnight repurchase (repo) and reverse repurchase (reverse repo) rates will remain at 7.5 percent and 9.0 […]
Sri Lanka must control aid flow to halt currency rise, IMF Says
Sri Lanka must slow the flow of overseas aid into the country to prevent its currency from further rising against the dollar and the yen, said Raghuram Rajan, chief economist at the International Monetary Fund.Sri Lanka must slow the flow of overseas aid into the country to prevent its currency from further rising against the […]
Please Forgive
Sri Lanka will ask the Paris Club group of foreign-creditor governments and the International Monetary Fund to allow it to delay debt payments to help it pay for reconstruction projects after the Dec. 26 tsunami. Sri Lanka will ask the Paris Club group of foreign-creditor governments and the International Monetary Fund to allow it to […]