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Sri Lanka IMF Newswire

  • Published on Feb 13, 2021

    Sri Lanka official reserves down to USD4.8bn by end January; YTD rupee depreciation 4.2-pct

    Author LBO Posted on February 12, 2021 | Forex, Lead Story, Money Sri Lanka’s official reserves were 4.8 billion US dollars (USD 4,814.6mn) by the end of January 2021, down from 5.7 billion US dollars in December last year, the latest Central Bank data …

    Source: Lanka Business Online - Uncategorized
  • Published on Feb 8, 2021

    Sri Lanka: The Chinese ‘Debt Trap’ is a myth

    By Deborah Brautigam and Meg Rithmire/www.atlantic.com Colombo, February 8 (www.theatlantic.com): China, we are told, inveigles poorer countries into taking out loan after loan to build expensive infrastructure that they can’t afford and that will …

    Source: South Asia Journal - Neutral
  • Published on Feb 8, 2021

    Sri Lanka’s Foreign Debt Crisis Could Get Critical in 2021

    AdvertisementSri Lanka’s foreign debt troubles are not new and have often been juxtaposed with concerns over defaulting debt and Chinese debt trap controversies. Leading up to 2021, several rating agencies downgraded Sri Lanka’s sovereign credit ratings: …

    Source: The Diplomat - Neutral
  • Published on Feb 8, 2021

    Sri Lanka on positive and steady path for economic recovery ; Cabral

    Feb 08, 2021 (LBO) – State Minister of Finance, Capital Markets, and State Enterprise Reforms Ajith Nivard Cabral says Sri Lanka is on track now to enacting an effective economic recovery to swiftly close the gap between pre and post-COVID-19 output losses …

    Source: Lanka Business Online - Uncategorized
  • Published on Jan 21, 2021

    Fitch expects Sri Lanka’s FX reserves to decline to around USD4.2 bn in 2021 & USD3.4 bn in 2022

    Fitch downgraded Sri Lanka’s rating to ‘CCC’ from ‘B-’ in November 2020, reflecting the sovereign’s increasingly challenging public and external debt position. Fitch Ratings: How Are Sri Lanka’s Fragile External Finances Likely to Hold Up in 2021? The …

    Source: Lanka Business Online - Uncategorized
  • Published on Feb 22, 2021

    This Day in History - February 22

    Today is the 53rd day of 2021. There are 312 days left in the year. TODAY'S HIGHLIGHT 1630: English settlers in America discover how to make popcorn. OTHER EVENTS 1495: French forces under King Charles VIII enter Naples in Italy. 1759: French abandon …

    Source: Jamaica Observer - Uncategorized
  • Published on Feb 22, 2021

    Economy at a glance for 2020:Double whammy blow

    Highlights ICRA Lanka estimates Sri Lanka’s GDP growth rate in 2020 to be -4%. In addition, our estimates indicate industry, services, and agricultural sectors to have contracted by 7.3%, 1.7% and 1.3% respectively. By mid-March the COVID crisis took …

    Source: Lanka Business Online - Uncategorized
  • Published on Nov 28, 2020

    Fitch downgrades Sri Lanka to ‘CCC’

    * Fitch downgrades Sri Lanka to ‘CCC’ Fri, Nov 27, 2020, 09:32 pm SL Time, ColomboPage News Desk, Sri Lanka. Nov 27, Colombo: Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC’ reflecting Sri Lanka’s …

    Source: Lanka Page - Neutral
  • Published on Feb 15, 2021

    CPEC shrugs off all odds, moving forward with new vigour

    ISLAMABAD: Despite the international propaganda move, the China Pakistan Economic Corridor (CPEC) project is moving forward by shrugging off all odds with lot of successes and new investments. Although the year 2020 proved to be yet another period of …

    Source: The News International - Uncategorized
  • Published on Feb 12, 2021

    CHINA: We Have Concerns

    February 11, 2021: China looks forward to becoming the largest economy in the world during the next few years, and a military superpower a decade after that. Longer term the outlook is less promising. Time is not on China’s side. There are numerous …

    Source: Strategy Page - Neutral
  • Published on Nov 12, 2020

    Sri Lanka can manage current debt obligations without IMF help, says Cabraal

    Author LBO Posted on November 12, 2020 | Budget, Economy, Lead Story Nov 12, 2020 (LBO) – Sri Lanka can manage the current debt obligations without seeking the help of the International Monetary Fund (IMF), State Minister of Money & Capital Market and …

    Source: Lanka Business Online - Uncategorized
  • Published on Feb 10, 2021

    The Second Pillar of the Biden Administration’s Policy in Ethiopia: Make Ethiopia China’s Graveyard in Africa

    What Blinken today calls “preventive diplomacy and deterrence” used to be called “big stick diplomacy” over a hundred years ago. Folded Arms: How are we going to sock it to Ethiopia? An old African saying teaches, “When two elephants fight, it is the grass …

    Source: ECADF Ethiopian News & Views - Uncategorized
  • Published on Oct 23, 2020

    Sri Lanka turns to China rather than IMF to avoid default - Nikkei Asia

    COLOMBO -- Sri Lanka's ultranationalist government looks set to receive a financial lifeline from China rather than an International Monetary Fund bailout to avoid defaulting on foreign debts, affirming the Asian giant as lender of the last resort to …

    Source: Shanghai News.net - Neutral
  • Published on Oct 21, 2020

    Its China that happens to have the cash now, says Sri Lanka Minister

    Each country works out its own financing arrangements, says Ajith Nivard Cabraal, referring to Sri Lanka’s borrowing from China While government critics and the Opposition in Sri Lanka raise concern over the Rajapaksa administration’s growing reliance on …

    Source: Shanghai News.net - Neutral
  • Published on Oct 23, 2020

    Sri Lanka’s Changing Relationship to Chinese Loans

    AdvertisementThe recent visit of Yang Jiechi, a Chinese Communist Party (CCP) Politburo member and previously China’s foreign minister, to Sri Lanka sparked interest among many. To begin with, Sri Lanka’s opposition raised concerns about the visit of the …

    Source: The Diplomat - Neutral
  • Published on Oct 17, 2020

    Sri Lanka Eyes Pompeo Visit After Securing $500M Chinese Loan

    While negotiating a $500 million loan from China for development projects and a $50 million line of credit from India for defense upgrades, Sri Lanka is now eyeing a visit from the United States’ top diplomat. In the U.S. view, Sri Lanka is important due …

    Source: Westside Gazette - Florida - Neutral
  • Published on Feb 13, 2021

    I ask you to be confident; ongoing negotiations will produce results soon: Central Bank Governor

    Governor of Sri Lanka’s Central Bank, Professor W D Lakshman requests people to be confident as ongoing negotiations with overseas agencies will produce results within one and a half months time. Speaking to journalists in Colombo yesterday (12), the …

    Source: Lanka Business Online - Uncategorized
  • Published on Oct 12, 2020

    Sri Lanka knocks China's doors for $700 million loan; falls deeper into Beijing's debt trap

    Posters wishing Taiwan a happy National Day come up outside Embassy of China in New Delhi The Sri Lankan government is set to receive a fresh loan from China, ignoring all dangers of the debt trap policy by the Xi Jinping regime. The latest requirement of …

    Source: International Business Times - Neutral
  • Published on Feb 5, 2021

    Ecuador Sunday election, a return to heterodox populist economic policies?

    Friday, February 5th 2021 - 12:25 UTC Opinion polls point to a lead for left-leaning economist Andres Arauz, 35, who pledged last month to ignore the IMF agreement and increase social spending if elected Uncertain times ahead for Ecuador, if after four …

    Source: Merco Press - Neutral
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