Tag: Sri Lanka
Sri Lanka to lead South Asian initiative to study impact of oil prices
SINGAPORE, September 20, 2006 (LBO) – Sri Lanka is leading a South Asia initiative to study the impact of oil prices and its effects on macro economic policies, Bangladesh’s Central Bank governor said. Finance misters of the South Asian Association for Regional Corporation (SAARC) – an eight member regional grouping – who met on the […]
End bloodshed to restore Sri Lanka business confidence: IMF-WBank
SINGAPORE, Sept 20, 2006 (AFP) – Sri Lanka has shown economic resilience but needs to end violence to restore much-needed business confidence, the World Bank and IMF said Wednesday. The South Asian nation forecasts a blistering 8.0 percent growth this year, the biggest in nearly three decades, despite soaring violence that has claimed more than […]
Muslims buried in Sri Lanka after being hacked to death
POTTUVIL, Sept 18 (AFP) – The bodies of 10 Muslim men found hacked to death were buried in the farming village of Pottuvil on Monday as the Tamil Tiger rebels and Sri Lankan forces blamed each other for the massacre.The victims, mostly between 20 and 27 years old, were brought to the Jumma Mosque in […]
War planes hit Tigers after Muslim massacre, reporters escape bombing
COLOMBO, Sept 19, 2006 (AFP) – Sri Lankan jets bombed suspected Tamil Tiger targets in the island’s east Tuesday, officials said, while rebel mortars killed four soldiers escorting journalists in the embattled Jaffna peninsula. Israeli-made Kfir war planes bombed positions of the Liberation Tigers of Tamil Eelam (LTTE) in the district of Batticaloa, the government’s […]
Tiger arms ship originated in Indonesia, more on the way: Sri Lanka
COLOMBO, Sept 19, 2006 (AFP) – A ship suspected of ferrying weapons to Tamil rebels that was sunk by the Sri Lankan military originated in Indonesia and more vessels may be on the way, a government minister said Tuesday. The ship was sunk Sunday off Sri Lanka’s east coast by naval ships and aircraft after […]
Sri Lanka civilian killings on the rise: rights group
NEW YORK, Sept 19, 2006 (AFP) – Sri Lanka’s government and Tamil Tiger rebels have stepped up killings of civilians in a surge of violence this year that has shattered gains made under a 2002 ceasefire, a leading rights group said Tuesday. More than 60,000 people have been killed in Sri Lanka’s Tamil separatist conflict […]
Sri Lanka GoldQuest controversy takes new turn with Central Bank denial
Sept 19 (LBO) – The controversy over the sudden recall of police investigators probing the GoldQuest scheme took a new turn, with the authorities denying that the move would affect an ongoing anti-pyramiding drive. The withdrawal of the police investigators from the bank’s unit investigating pyramid schemes will not affect ongoing investigations, the Central Bank […]
Price Cushion
SINGAPORE, September 19, 2006 (LBO) – Sri Lanka said Tuesday it was moving towards eliminating oil subsidies that are threatening to blow a hole in the nation’s budget and asked lenders for financial help to tide over oil shocks. Public Administration minister Sarath Amunugama said the government has responded appropriately to the sustained sharp rise […]
Government policies in Sri Lanka and elsewhere keep poor at bottom end
SINGAPORE, September 18, 2006 (LBO) – The World Bank rapped politically hungry governments saying short sighted policies fail to uplift the poor, keeping them at the ‘bottom end of the pyramid’. It’s a bad cycle. When projects are scaled up, they bump against the governments which failed their people in the first place, which is […]
Civil society groups slam IMF reforms
SINGAPORE, September 18, 2006 (LBO) – Civil society groups Sunday slammed IMFs plan to overhaul its governance structure, saying they mean very little to poor countries. The Washington based Fund’s policymakers backed the 61-year old International Monetary Fund’s reform agenda today, giving more voting power or influence to fast growing economies of China, Turkey, South […]
’s new thrust on linking aid and graft busting
SINGAPORE, September 18, 2006 (LBO) – World Bank’s policy body Monday asked the bank’s president not to lose sight of reducing poverty, as the global lender ups the tempo to curb corruption and promote good governance through lending programs. We strongly endorse the Bank’s role and mission is to eradicate poverty among middle income and […]
Sri Lanka among groups against IMF reforms
SINGAPORE, September 18, 2006 (LBO) – Sri Lanka was one of the 23 countries that opposed a plan to overhaul the voting shares of the International Monetary Fund. Voting rights or access to funds are determined on member’s economic growth, openness to trade, the amount of reserves they hold and the volatility of each economy. […]