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World Bank Approves $700 Million In Support For Crisis-Hit Sri Lanka
The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.
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World Bank Approves $500 Million In Budgetary Support To Sri Lanka
Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.
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Sri Lanka Hikes Power Prices By 275 Per Cent To Secure IMF Deal
Sri Lanka's electricity board hiked consumer rates by up to 275 percent, officials said Thursday, the second steep increase in months as the bankrupt island nation works to secure an IMF bailout.
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World Bank's New Warning On Sri Lanka Amid Severe Food Price Inflation
Sri Lanka is ranked fifth among the 10 countries with the highest food price inflation in the world, according to the latest World Bank assessment.
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Why World Bank Denied New Financing To Sri Lanka Amid Crisis
The World Bank does not plan to offer new financing to crisis-hit Sri Lanka until an "adequate" macroeconomic policy framework is in place, the global funding body has said.
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Crisis-Hit Sri Lanka Seeks $55 Million Loan From India To Buy Fertilizers
Sri Lanka has sought a $55 million loan from India for the procurement of urea amidst threatening a severe food shortage. The Cabinet has approved a proposal by the Prime Minister to sign an agreement with India to purchase urea.
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Crisis-Hit Sri Lanka To Receive $700 Million From World Bank: Report
The World Bank is planning to disburse $700 million to crisis-ridden Sri Lanka by re-purposing its existing loans, a move that will help the island nation grappling with an unprecedented economic crisis.
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No New Loans Or Bridge Financing To Crisis-Hit Sri Lanka: World Bank
The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation's economy sets up an adequate macroeconomic policy framework, the global lender has said.
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Sri Lanka Seeks $500 Million Loan From India For Fuel Costs Amid Crisis
The Sri Lankan Cabinet has approved seeking a 500 million dollar loan from the Exim Bank of India for the purchase of petroleum products amid a severe foreign exchange crisis in the island nation.
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"Sri Lanka To Take At Least 6 Months To Repay Its Debts": Central Bank
Sri Lanka will take at least six more months to start repaying its debts, the central bank said Thursday as the government shut schools because of fuel shortages.
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Lanka Economy Will Collapse If No Government Within 2 Days: Central Bank
Sri Lanka's economy will "collapse beyond redemption" unless a new government is appointed within two days to restore political stability, Central Bank of Sri Lanka Governor Nandalal Weerasinghe said Wednesday.
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Sri Lanka Says India, World Bank Considering $2 Billion Bridge Finance
Sri Lanka's finance minister said on Friday that India and the World Bank are considering extending about $2 billion in bridge finance so it can continue essential imports.
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World Bank Ready To Provide Emergency Economic Aid To Sri Lanka: Report
The World Bank is ready to provide emergency support to Sri Lanka and protect the vulnerable people amidst the unprecedented economic crisis in the country, a media report on Wednesday quoted a senior official of the global lender as saying.
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World Bank Slashes India, South Asia's Economic Growth Forecast Over Ukraine Crisis
World Bank cut its economic growth forecast for India and South Asia citing worsening supply bottlenecks, rising inflation risks due to Ukraine crisis
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Sri Lanka Can Overcome Crisis If Central Bank Independent, Says New Governor
Exuding confidence in overcoming the unprecedented economic crisis, the new Governor of the Central Bank of Sri Lanka said that one of the ways to overcome the current crisis situation is to allow the Central Bank to function independently.
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World Bank Approves $700 Million In Support For Crisis-Hit Sri Lanka
The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.
-
World Bank Approves $500 Million In Budgetary Support To Sri Lanka
Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.
-
Sri Lanka Hikes Power Prices By 275 Per Cent To Secure IMF Deal
Sri Lanka's electricity board hiked consumer rates by up to 275 percent, officials said Thursday, the second steep increase in months as the bankrupt island nation works to secure an IMF bailout.
-
World Bank's New Warning On Sri Lanka Amid Severe Food Price Inflation
Sri Lanka is ranked fifth among the 10 countries with the highest food price inflation in the world, according to the latest World Bank assessment.
-
Why World Bank Denied New Financing To Sri Lanka Amid Crisis
The World Bank does not plan to offer new financing to crisis-hit Sri Lanka until an "adequate" macroeconomic policy framework is in place, the global funding body has said.
-
Crisis-Hit Sri Lanka Seeks $55 Million Loan From India To Buy Fertilizers
Sri Lanka has sought a $55 million loan from India for the procurement of urea amidst threatening a severe food shortage. The Cabinet has approved a proposal by the Prime Minister to sign an agreement with India to purchase urea.
-
Crisis-Hit Sri Lanka To Receive $700 Million From World Bank: Report
The World Bank is planning to disburse $700 million to crisis-ridden Sri Lanka by re-purposing its existing loans, a move that will help the island nation grappling with an unprecedented economic crisis.
-
No New Loans Or Bridge Financing To Crisis-Hit Sri Lanka: World Bank
The World Bank has ruled out bridge financing or new loan commitments to crisis-hit Sri Lanka until the island nation's economy sets up an adequate macroeconomic policy framework, the global lender has said.
-
Sri Lanka Seeks $500 Million Loan From India For Fuel Costs Amid Crisis
The Sri Lankan Cabinet has approved seeking a 500 million dollar loan from the Exim Bank of India for the purchase of petroleum products amid a severe foreign exchange crisis in the island nation.
-
"Sri Lanka To Take At Least 6 Months To Repay Its Debts": Central Bank
Sri Lanka will take at least six more months to start repaying its debts, the central bank said Thursday as the government shut schools because of fuel shortages.
-
Lanka Economy Will Collapse If No Government Within 2 Days: Central Bank
Sri Lanka's economy will "collapse beyond redemption" unless a new government is appointed within two days to restore political stability, Central Bank of Sri Lanka Governor Nandalal Weerasinghe said Wednesday.
-
Sri Lanka Says India, World Bank Considering $2 Billion Bridge Finance
Sri Lanka's finance minister said on Friday that India and the World Bank are considering extending about $2 billion in bridge finance so it can continue essential imports.
-
World Bank Ready To Provide Emergency Economic Aid To Sri Lanka: Report
The World Bank is ready to provide emergency support to Sri Lanka and protect the vulnerable people amidst the unprecedented economic crisis in the country, a media report on Wednesday quoted a senior official of the global lender as saying.
-
World Bank Slashes India, South Asia's Economic Growth Forecast Over Ukraine Crisis
World Bank cut its economic growth forecast for India and South Asia citing worsening supply bottlenecks, rising inflation risks due to Ukraine crisis
-
Sri Lanka Can Overcome Crisis If Central Bank Independent, Says New Governor
Exuding confidence in overcoming the unprecedented economic crisis, the new Governor of the Central Bank of Sri Lanka said that one of the ways to overcome the current crisis situation is to allow the Central Bank to function independently.
