Current Economic Crisis in Sri Lanka -Inflation is 55% .. Sri Lanka is sixth in the world
According to the latest inflation chart by Steve Hanky, a professor of applied economics at Johns Hopkins University, Sri Lanka has risen to sixth place. According to Steve Hanky’s inflation, inflation in Sri Lanka has risen to a record 55% from 14.2%. According to Prof. Steve, the implementation of a Monetary Board in Sri Lanka from 1884 to 1950 would provide an ideal solution to the high inflation in Sri Lanka. What is special is that Sri Lanka has not been included in Prof. Hanky’s inflation table before and this time Sri Lanka has risen to the sixth position in that inflation table.
A no-confidence motion against Prime Minister Imran Khan
Opposition parties in Pakistan have filed a no-confidence motion against Prime Minister Imran Khan. The no-confidence motion, which alleges that Pakistan has plunged the country into a serious crisis due to poor management of its economy, is due to be debated next Thursday and will be put to a vote within seven days. The country’s opposition leader presented a no-confidence motion in parliament yesterday afternoon, saying confidence in parliament had been shattered. Opposition leader Shehbaz Sharif presented a no-confidence motion in parliament yesterday afternoon, saying “confidence in the prime minister has plummeted”. Pakistan’s opposition coalition says 342 out of 176 seats in parliament could be won in favor of a resolution to defeat Imran Khan’s government. Pakistan’s opposition coalition says 342 out of 176 seats in parliament could be won in favor of a resolution to defeat Imran Khan’s government. He accused the current prime minister of destroying the Pakistani economy.
India and Sri Lanka have signed six Memoranda of Understanding
India and Sri Lanka have signed six Memoranda of Understanding The Indian High Commission stated that the relevant agreements were signed at the Ministry of External Affairs yesterday. Accordingly, the implementation of a digital reciprocity program, the Establishment of a Maritime Rescue Coordinating Center, Memorandums of Understanding have been signed on the implementation of hybrid power plant projects on three islands outside Jaffna. The Ministry of External Affairs stated that the development of fishing harbors in Sri Lanka, Agreements have also been signed to set up computer labs in 200 schools in the Galle District. In addition, Sushma Swaraj has signed a Memorandum of Understanding between the Foreign Service Institute and the Bandaranaike International Diplomatic Training Institute.
“Diesel landing delay: Avoid being in diesel queues today and, tomorrow, Petrol will distribute as usual” – Petroleum Corporation
A ship carrying 37,500 tons of diesel has not been able to land as planned. Due to this, the Ceylon Petroleum Corporation warns the public not to wait in line at petrol stations for diesel today(30) and tomorrow (31). However, the Ceylon Petroleum Corporation stated that it will continue to supply diesel for essential services. The distribution of petrol will be carried out as usual without any shortage The chairman of the Petroleum Corporation said.
US Under Secretary of State for Political Affairs visits the Port of Colombo
A special US delegation led by US Under Secretary of State for Political Affairs Mrs. Victoria Nuland recently made a special visit at the Port of Colombo (POC). US Ambassador Her Excellency Juli J. Chung also included in the delegation. The delegation inspected the ongoing port development projects at the Port of Colombo from the SLPA Control Tower.
BIMSTEC Foreign Ministerial Conference is today
The Foreign Ministers’ Conference of BIMSTEC member countries will be held today (29). It was at the Bandaranaike International Conference Hall. Delegates from 7 countries including India, Bangladesh, Bhutan, Myanmar, Thailand and Nepal are participating in the 5th BIMSTEC Summit hosted by Sri Lanka.
Sri Lanka seeks $ 1 billion additional loan from India
Sri Lanka has requested an additional $ 1 billion loan from India to import essential food items, Reuters reports. According to a Reuters report, the Indian authorities have indicated that they will comply with Sri Lanka’s request for a new loan for the import of essential commodities such as rice, wheat flour, cereals, sugar and pharmaceuticals. This will be in addition to the $ 1 billion loan already pledged by India. Finance Minister Basil Rajapakse also signed a $ 1 billion loan agreement in the Indian capital, New Delhi, this month. In addition, India provided $ 500 million and $ 400 million in exchange rates for fuel purchases to Sri Lanka earlier this year.
Economic Crisis in Sri Lanka -China says no to debt restructuring but another loan to pay off debts
China has rejected a request from Sri Lanka to repay a loan taken from China, a weekend newspaper reports. But China has proposed another loan to pay off that debt. Accordingly, the Chinese government has recently agreed to provide a $ 1 billion loan to repay the loan installments. This billion will have to be used to repay the entire Chinese debt. In addition, interest will be added to new loans.
Today’s power cut schedule
The Public Utilities Commission will announce the power cuts today (29) Accordingly, the power cut is as follows. Zones A, B, C, D, E, F, G, H, I, J, K, L – 5 hours from 08.00 am to 06.00 pm and 2 hours and 30 minutes from 6.00 pm to 11.00 pm Zones P, Q, R, S, T, U, V, W – 5 hours from 08.30 am to 05.30 pm and 2 hours and 15 minutes from 5.30 pm to 11.00 pm.
Sri Lankan government providing Rs 5000 allowance for New Year
The government has decided to provide an allowance of Rs. 5,000 to selected families for the coming New Year. The decision was taken at a cabinet meeting chaired by the President yesterday. Accordingly, Cabinet approval has been granted to pay this allowance to 31 lakhs families for a period of two months.