Sri Lanka significantly overshot its 2009 budget deficit target set by International Monetay Fund (IMF) and will fail to meet the target set for 2010, a Finance Ministry report data showed on Tuesday. The IMF had set budget deficit targets of 7 percent of GDP by end-2009 and 6 percent this year as conditions for… Continue reading Sri Lanka will overshoot IMF 2010 deficit target-finmin
Author: Reuters
FACTBOX-Key political risks to watch in Sri Lanka
Sri Lanka holds parliamentary elections on April 8 amid economic worries, not least the IMF’s decision to delay the third tranche of a $2.6 billion loan after the government missed its 2009 deficit reduction targets. Following is a summary of key political risks to watch: * PARLIAMENTARY ELECTIONS Newly re-elected President Mahinda Rajapaksa is proceeding… Continue reading FACTBOX-Key political risks to watch in Sri Lanka
UPDATE 1-IMF delays third tranche of $2.6 bln Sri Lanka loan
The International Monetary Fund said on Thursday it is delaying the third tranche of a $2.6 billion loan to Sri Lanka after the government missed its 2009 deficit reduction targets. IMF officials told a news conference that Sri Lanka’s domestic budget borrowing — consistent with a budget deficit target of 7 percent of gross domestic… Continue reading UPDATE 1-IMF delays third tranche of $2.6 bln Sri Lanka loan
EU to halt Sri Lanka trade preferences amid human rights concern
The European Union said on Monday it planned to withdraw preferential trade benefits to Sri Lanka because of concerns about the south Asian island’s human rights record. The European Commission, which oversees the 27-nation bloc’s trade policy, said an investigation had revealed significant shortcomings in Sri Lanka’s implementation of three UN human rights conventions linked… Continue reading EU to halt Sri Lanka trade preferences amid human rights concern
Sri Lankans, police clash again over detained general
Hundreds of protesters demanding the release of defeated presidential candidate Sanath Fonseka clashed with Sri Lankan police on Sunday in a fourth day of street protests. "Police had to baton charge to disburse the crowd," said police spokesman Prasanth Jayakody, adding that three police officers were admitted to hospital with minor injuries. Tensions have risen… Continue reading Sri Lankans, police clash again over detained general
Q+A – Sri Lanka’s mounting political unrest
Hundreds of Sri Lankan lawyers staged a silent march in the capital on Friday in a third day of street protests aimed at winning the release of losing presidential candidate Sarath Fonseka. Here are some questions and answers on the political and economic implications of unrest in the island following the end of a 25-year… Continue reading Q+A – Sri Lanka’s mounting political unrest
Sri Lankan lawyers join protests over detained general
Hundreds of Sri Lankan lawyers staged a silent march in the capital Friday in a third day of street protests seeking the release of losing presidential candidate Sanath Fonseka. Tensions have risen on the island since the former army commander was arrested Monday by military police on charges of engaging in politics against his president… Continue reading Sri Lankan lawyers join protests over detained general
Sri Lanka police crackdown on opposition protest
Sri Lanka’s police used batons to disperse hundreds of supporters of losing presidential candidate Sarath Fonseka on Thursday, a Reuters witness said, in a second day of protests against his arrest. Tensions have risen on the island since former army commander Fonseka was arrested on Monday by military police on charges of engaging in politics… Continue reading Sri Lanka police crackdown on opposition protest
INTERVIEW-IMF sees Sri Lanka 2010 growth at 5.5 pct
Sri Lanka’s economy will grow 5.5 percent in 2010 due to improving domestic demand and potential export growth after the 25-year war ended in 2009 and as global recovery takes hold, the IMF said on Wednesday. However, the International Monetary Fund said there were concerns about the country’s fiscal deficit which needed to be addressed.… Continue reading INTERVIEW-IMF sees Sri Lanka 2010 growth at 5.5 pct
Ban raises Fonseka arrest with Sri Lanka president
Secretary-General Ban Ki-moon raised the arrest of a defeated Sri Lankan opposition candidate with its president and expressed concern about events in the Asian nation, the United Nations said on Wednesday. In a telephone call on Tuesday night, Ban also agreed with President Mahinda Rajapaksa that Lynn Pascoe, head of the U.N. political department, would… Continue reading Ban raises Fonseka arrest with Sri Lanka president
