Tag: Sri Lanka

Sri Lankas aid utilisation recorded an all time high of nearly US$ 1bn for 2003 and came close to forecast targets despite a politically volatile year that left the peace process in limbo.By end December the total disbursement of grants and loans came to US$ 986 mn compared to US$ 576 mn in 2002 despite […]

The LTTE will decide on how it and the territories under its paw would participate in the April 03, 2004 snap polls. The LTTE warned on Monday that it would honour the ceasefire agreement, but warned a snap poll was a setback to the budding peace process.rn rn”Our liberation organisation will rigidly observe the ceasefire […]

rnSri Lanka faces another expensive and possibly violent general election nearly four years before its due date leaving the peace process, donor decisions and economic policies in limbo.rnWhile a helpless UNF governments screamed lquote undemocratic and unethical the country is already in the process of breaking up under blue, green and red ranks with all […]

The UNF government is upbeat of romping back to power with the promise of peace and economic prosperity, despite being caught behind by the President, a senior cabinet minister said.ldblquote We have delivered what we promised to give, that is peace and development. And we will continue with our mandate when we come back to […]

President Chandrika Kumaratunga dissolved parliament late Saturday, calling for a snap poll on April 2, to break the bitter political deadlock.Parliamentary polls are not due till 2007 and a poll of this magnitude costs nearly a billion rupees endash money the exchequer has little to spare these days.rn rnStarting February 17, nominations for elections will […]

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The State is losing an estimated average of Rs. 450 million in revenue each month in its effort to subdue a rise in the cost of living due to higher world market prices.Finance Ministry officials say the current tax and import duty concessions could be met with higher duties for non-essential commodities that do not […]

World Bank says its poverty reduction funds can still be drawn on schedule if the IMF review is completed soon.The December tranche of the PRGF has been held back pending the settlement of political uncertainty and the government completing some key reforms.rn rnWorld Bank has to submit its review to the board by May, allowing […]

Colombos benchmark All Share Price Index (ASPI) shot up about 100 points on the back of more reports of a breakthrough in the political deadlock. However, stockbrokers say the actual ground situation on the political front has not changed significantly from two months ago.rn rnThe only positive reports to come out of the political arena […]

The international community will detach part of the US$ 4.5 billion in aid committed to rebuild Sri Lanka from progress with the peace process.Japanese special Envoy, Yasushi Akashi on Sunday said that donors were split over the decision to release aid, with some opting to hold back for a change in the current political impasse.rn […]

Hopes of securing US$ 80 mn from the International Monetary Fund (IMF) next month has been put off, due to the current turn of events in Sri Lanka, a top official said Tuesday.A review mission led by Jehangir Aziz, Deputy Division Chief of the IMFs Asia Pacific unit, gave the countrys macro fundamentals good marks.rn […]

The new Janatha Vimukthi Peramuna (JVP) Sri Lanka Freedom Party (SLFP) alliance, if voted in, says it would renegotiate the terms of the US$ 4.5 billion in aid pledged by international donors last year.The Memorandum of Understanding (MOU), the result of over 10 months of conference between the SLFP and JVP, is the first concrete […]