Sri Lanka-current 27th May 2022 – By Dr Harold Gunatillake *Sri Lanka PM to take over as finance minister too. Ali Sabry, previous finance minister, resigns *Wickremesinghe will present an interim budget within six weeks that will slash government expenditure ‘to the bone’. *The PM is seeking $4bn from the IMF, China and Japan to pay for food and fuel even as he slashes the budget to ‘bare bones’. *Sri Lanka’s Rajapaksa Appeals for Bridging Finance in TokyoLanka has run out of money to pay for food, fuel, medicines and other daily need. *Sri Lanka hikes fuel prices, hires financial and legal advisers *Sri Lanka’s inflation increased by 20-24 per cent Lanka’s Prime Minister Ranil Wickremesinghe will take charge as finance minister, the president’s office has announced. It will lead talks with the International Monetary Fund (IMF) as the crisis-hit nation seeks a bailout. “Prime Minister Ranil Wickremesinghe was sworn ...

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Broke, downgraded and begging: Sri Lanka pays price for missteps – by MARWAAN MACAN-MARKAR South Asian nation’s economic crisis draws comparisons with Lebanon’s meltdown Source:asia.nikkei.com BANGKOK — Sri Lanka’s failure to settle interest payments on sovereign bonds and its subsequent ratings downgrade have drawn unflattering comparisons with the economic meltdown in Lebanon. The South Asian nation on April 18 failed to pay interest of $78.13 million on $1.25 billion of bonds. Standard & Poor’s followed up this week with a downgrade to a “selective default” rating — the latest knife in the back of the debt-ridden economy. Foreign investors who had bought the island’s international sovereign bonds (ISBs) were angry that they were misled by promises the debt would be paid. The principal cheerleader was Nivard Cabraal, the then central bank governor. Throughout he stood by views he had expressed to Nikkei in a February interview: “I am determined to ...

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Fly half Sudesh brought honour and fame to Sri Lanka-by Althaf Nawaz Sudesh Abeysinghe Source:Dailynews In the game of Rugby Football, the Fly Half position should be occupied by a highly skilled player. Sudesh Abeysinghe was one of the best players who occupied this position for his school club and Sri Lanka Sudesh attended Isipathana College and went on to complete his educational career there. From his teenage days he was very keen in handling the oval shaped ball as he hailed from a rugby playing family which produced several players who excelled in the sport at school, club and at International level. ...

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