Tag: Sri Lanka
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. […]
Tamil Tiger arms ship bombed off the coast of Sri Lanka
COLOMBO, Sept 17, 2006 (AFP) – Sri Lanka’s navy gunboats and war planes bombed a suspected Tamil Tiger arms ship Sunday, the defence ministry said, despite efforts by peace broker Norway to hold talks to uphold a truce.The defence ministry said in a statement that naval craft called for air support after the unnamed vessel […]
Sri Lanka boat people caught off Spain
PUERTO DE LOS CRISTIANOS, Spain, Sept 17, 2006 (AFP) – A second boatload of some 200 clandestine immigrants from Asia has been spotted on its way to the Canary Islands, this time from Guinea Bissau, police said here Saturday. “It’s carrying around 200 Asians and probably left from Bissau,” Agustin Brito Machin, secretary general of […]
”’, other South Asian nations doing better : IMF
SINGAPORE, Sep 17 (LBO) – Though other South Asian nations are doing reasonably well in fighting inflation Sri Lanka’s central bank must be more vigilant and do more to stabilize prices, a senior IMF official said. “The mainstay of monetary policy is to maintain financial stability and low inflation. South Asian economies are doing reasonably […]
Sri Lanka earns place among religious freedom violators
WASHINGTON, Sept 16 (AFP) – The United States on Friday classified six Asian countries as religious freedom violators, aside from China, Myanmar, North Korea and Vietnam already blacklisted as worst offenders in the region. Afghanistan, Brunei, India, Laos, Pakistan and Sri Lanka were included in a “significant” list of violators of religious freedom in the […]
‘s obsession with subsidies no help to the poor : Wolfowitz
SINGAPORE, Sept 16, 2006 (LBO) – The practice of Sri Lanka and other South Asian countries that spend massive public resources on subsidies do not help the poor, World Bank Chief Paul Wolfowitz said. “Subsidies are often given as an excuse to cushion the poor,” Wolfowitz said during an informal meeting with South Asian journalists […]
Japan Power
SINGAPORE, September 16, 2006 (LBO) – Japan has come forward to help Sri Lanka expand its energy mix, with financial backing to build a liquefied natural gas power plant, a top official said. Sri Lanka’s Treasury Secretary P B Jayasundara says the government hopes to have an LNG (Liquefied Natural Gas) plant up and running […]
Oil prices bigger threat than terrorism to Sri Lanka : CB Governor
SINGAPORE September 16, 2006 (LBO) – Historically high global oil prices have overtaken a three decades old ethnic conflict to emerge as the biggest challenge Sri Lankan economy has to face in recent times, the country’s Central Bank governor said Friday. We like to keep the discussion channels open between the World Bank and the […]
More deaths in Sri Lanka ahead of peace talks
Sept 16, 2006 (AFP) – Suspected Tamil Tiger rebels shot dead three civilians and a government soldier in separate incidents, the defence ministry said Saturday.The Tamil rebels are fighting for an independent homeland for the Tamil minority. More than 60,000 people have been killed in Sri Lanka’s bitter ethnic conflict since 1972.Two civilians were killed […]
Worker remittances help Sri Lanka weather shocks
SINGAPORE, September 16, 2006 (LBO) – Workers’ remittances is turning out to be an attractive sources of foreign financing for countries like Sri Lanka, which can sometimes use them as a buffer against oil shocks, the International Monetary Fund said Saturday. But they may be of only limited value in absorbing shocks and reducing vulnerability […]
IMF asks domestic policymakers to be nimble to external risks
Singapore September 15, 2006 (LBO) – The International Monetary Fund Friday asked domestic policymakers to be nimble and adapt to external risks like inflation and high oil prices that is threatening to disrupt global economic growth. The Washington based global financial watchdog and biggest financial backer, is also keen to boost its surveillance role of […]
Singapore may soften ban on civil society involvement in World Bank-IMF meet
Singapore September 15, 2006 (LBO) — Singapore Friday appeared to be willing to soften on an earlier ban of allowing civil society groups to participate in the annual World Bank-IMF meetings next week, following sharp objections from the international lenders “However, we cannot guarantee that all 27 activists will be admitted to Singapore,” it said. […]