Tag: Sri Lanka
Sri Lanka IMF country report released
Nov 10, 2009 (LBO) – The International Monetary Fund (IMF) has released country report and staff papers covering the background and economic analysis leading up to a stand by loan to the island in July.Sri Lanka’s economic management has improved in recent months with both inflation and interest rates coming down, but external borrowings have […]
Sri Lanka agriculture, fishing revive in former war zone
Nov 10, 2009 (LBO) – Farmers and fishermen have been among the main borrowers under a Sri Lankan government loan scheme to revive economic activity in the former northern war zone, the Central Bank said. It said in a statement that a total of 1,875 loans valued at 264 million rupees has been disbursed under […]
South Asian broadband stuck in international bottleneck: study
CHENNAI, Nov 09, 2009 (LBO) – South Asian surfers get slower and less reliable broadband internet connections for every dollar spent despite compared to users in developed countries, despite ‘cheaper’ packages, researchers have found. “The US and Canada packages that we have tested are not too different to pricing to our ones but the difference […]
Sri Lanka to keep lid on defence spending in 2010
Nov 09, 2009 (LBO) – Sri Lanka is planning to keep defence spending for 2010 at 2009 levels in rupee terms, and divert money spent on military activities to reconstruction, the government had told the International Monetary Fund. In a revised program document given to the IMF following the approval of a 329.4 million US […]
Sri Lanka vows to help Australia on illegal migrants
November 9, 2009 (AFP) – Sri Lanka pledged in talks with Australia Monday to step up intelligence sharing and arrest people traffickers, President Mahinda Rajapakse’s office said.Seventy-eight Sri Lankans were rescued from a sinking boat in Indonesian waters last month.They have insisted on remaining on the Australian customs ship that picked them up, refusing to […]
Sri Lanka needs stable foreign reserves: IMF
Nov 09, 2009 (LBO) – Sri Lanka needs stable foreign reserves collected from current account transactions as ‘borrowed reserves’ flowing into Treasuries markets can flow out quickly, an International Monetary Fund official said.“Money has rolled right in and reserves are at a comfortable position,” IMF resident representative Koshi Mathai said. “There is a difference between […]
Gold price hits record high as dollar wanes
LONDON, November 9, 2009 (AFP) – Gold prices hit a record above 1,100 dollars on Monday with the dollar weakening after a pledge by G20 countries to keep economic recovery pumped up with easy money.In morning trading here, gold struck an all-time peak of 1,109.50 dollars an ounce as the euro rose to 1.50 dollars […]
Sri Lanka passes IMF loan hurdle, despite failing fiscal target
Nov 07, 2009 (LBO) – The International Monetary Fund (IMF) has approved a 413.4 million US dollar tranche under its stand by loan, despite the government failing to meet a key budget constraint, the lender said. Under the original deal, a net international reserve target, which excluded borrowed reserves other than that of the IMF […]
‘s stay
JAKARTA, November 6, 2009 (AFP) – Indonesia extended by a week on Friday a deadline for an Australian customs ship loaded with 78 protesting Sri Lankan asylum seekers to leave its territory.The extension would allow the Oceanic Viking, which has been moored on Bintan island since last month, to stay while a solution is found […]
90,000 displaced in Sri Lanka conflict return home: UN
GENEVA, November 6, 2009 (AFP) – About a third of those displaced during the conflict between Sri Lanka government and the Tamil Tigers have returned home over the past three months, the UN refugee agency said Friday.“Some 90,000 internally displaced people have returned to their villages in Sri Lanka’s north and east over the past […]
Sri Lanka boat people leader a known trafficker: Colombo
November 6, 2009 (AFP) – The leader of a boat of Sri Lankan asylum seekers held in Indonesia is a known people smuggler previously deported from Canada, the government said Friday, a charge he has strongly denied.Alex, who emerged as the spokesman for the 255 Sri Lankans whose boat was detained last month en route […]
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LONDON, November 6, 2009 (AFP) – The price of gold hit a record high above 1,100 dollars an ounce in trading here on Friday following a report that Sri Lanka had joined India in purchasing the precious metal in favour of the US currency. “The Central Bank of Sri Lanka has announced that it is […]