• Latest
  • Trending

OBOR “very significant for Sri Lanka” says Central Bank Governor

May 18, 2017
Paris Club

Paris Club to give Sri Lanka financial assurances amid IMF debt talks – report

February 3, 2023
The first coin was officially presented to Hon. Ranil Wickremesinghe, the President of Sri Lanka by Dr. P. Nandalal Weerasinghe, Governor of CBSL at the President’s House at Kandy

Central Bank issues a Coin to mark 75th Independence Celebration of Sri Lanka

February 3, 2023
Kompanna Vidiya

No more ‘Slave Island’, it’s ‘Kompanna Vidiya’

February 3, 2023
Renaming Slave Island blots out a colonial blemish

Renaming Slave Island blots out a colonial blemish

February 3, 2023
Electricity

Power cut schedule for today in Sri Lanka: February 3rd

February 3, 2023
Cows

China says it successfully cloned 3 highly productive ‘super cows’

February 3, 2023
Reserve Bank Of India (RBI)

India cenbank asks local banks for details of Adani exposure

February 2, 2023
U.S. Under Secretary of State for Political Affairs Victoria Nuland

China has not done enough on Sri Lanka debt restructuring – U.S. diplomat

February 2, 2023
UK hit by biggest strike action in more than a decade

United Kingdom hit by biggest strike action in more than a decade

February 2, 2023
Gautam Adani

Adani loses Asia’s richest crown as stock rout deepens to $84 billion

February 2, 2023
top university in Sri Lanka

Top 20 Sri Lankan universities revealed: Webometrics

February 2, 2023
Fuel. Image credits - Wassim Chouak / Unsplash

Ceylon Petroleum Corporation increases fuel prices

February 1, 2023
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact
Friday, February 3, 2023
No Result
View All Result
NewsIn.Asia
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Paris Club

    Paris Club to give Sri Lanka financial assurances amid IMF debt talks – report

    The first coin was officially presented to Hon. Ranil Wickremesinghe, the President of Sri Lanka by Dr. P. Nandalal Weerasinghe, Governor of CBSL at the President’s House at Kandy

    Central Bank issues a Coin to mark 75th Independence Celebration of Sri Lanka

    Kompanna Vidiya

    No more ‘Slave Island’, it’s ‘Kompanna Vidiya’

    Renaming Slave Island blots out a colonial blemish

    Renaming Slave Island blots out a colonial blemish

    Electricity

    Power cut schedule for today in Sri Lanka: February 3rd

    Cows

    China says it successfully cloned 3 highly productive ‘super cows’

    Reserve Bank Of India (RBI)

    India cenbank asks local banks for details of Adani exposure

    U.S. Under Secretary of State for Political Affairs Victoria Nuland

    China has not done enough on Sri Lanka debt restructuring – U.S. diplomat

    Gautam Adani

    Adani loses Asia’s richest crown as stock rout deepens to $84 billion

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    U.S. Under Secretary of State for Political Affairs Victoria Nuland

    China has not done enough on Sri Lanka debt restructuring – U.S. diplomat

    UK hit by biggest strike action in more than a decade

    United Kingdom hit by biggest strike action in more than a decade

    Sri Lanka

    Sri Lanka makes top 10 in ‘Most Instagrammable Places in the World 2023’

    Bangladesh

    Bangladesh secures loans of $4.7 billion from IMF

    Chief pilot Ian Porter with wife Michelle, daughters Samantha and Sydney, who act as his co-pilots, and son Christopher.. Image credits - Samantha Porter

    The family of five flying around the world in a tiny plane

    Tory peer accused of ‘racially charged’ attack on BBC Modi documentary

    Tory peer accused of ‘racially charged’ attack on BBC Modi documentary

    Robert Clive and the taking of India

    Robert Clive and the taking of India

    Gandhi’s influence on Sri Lanka’s non-violent Independence struggle

    Gandhi’s influence on Sri Lanka’s non-violent Independence struggle

    The world is tired Of United States’ wars

    The world is tired Of United States’ wars

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    "Avatar: The Way of Water" has soared into the $2 billion club of top grossing movies worldwide.

    ‘Avatar: The Way of Water’ crosses $2 billion mark in worldwide box office

    Pathaan

    Posters of Shah Rukh Khan’s Pathaan torn down and burnt outside cinemas in India

    Oscars 2023

    Oscars 2023: ‘Everything Everywhere All At Once’ leads nominations

    Much-awaited Sri Lankan 3D animation movie “Gajaman” coming to theatres

    Much-awaited Sri Lankan 3D animation movie “Gajaman” coming to theatres

    Prince William and Prince Harry arrive at the Canadian National Vimy Memorial in Vimy, France on April 9, 2017.. Image credits - Jack Taylor/Getty Images/File

    Prince Harry’s ‘Spare’ creates world record, becomes fastest selling non-fiction book

    Cocaine Bear (Credit: Universal Pictures)

    20 of the best films to watch in 2023

    Avatar

    Avatar: The Way Of Water passes USD 1B at the global box office

    (Image credit: Alamy)

    The 20 best films of 2022

    Harry and Meghan

    ‘Harry & Meghan’ is Netflix’s most watched documentary debut in its first week

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Child. Image credits - Filip Mroz @mroz / Unsplash

    Your child’s academic success may start with their screen time as infants

    Chief pilot Ian Porter with wife Michelle, daughters Samantha and Sydney, who act as his co-pilots, and son Christopher.. Image credits - Samantha Porter

    The family of five flying around the world in a tiny plane

    Vaping

    Researchers uncover new negative effects of vaping

    Paris. Image credits - Alexander Kagan allewollenalex / Unsplash

    World’s ‘most powerful’ tourism city revealed

    Image credits - NASA nasa / Unsplash

    Earth’s inner core may have started spinning other way

    Global citizenship and residence advisory firm Henley & Partners has released its quarterly report on the world's most desirable passports. Click on to find out which passport offers the most access in 2023. Justin Sullivan/Getty Images

    The world’s most powerful passport for 2023 revealed

    Image credits - Tetiana Bykovets tetiana_bykovets / Unsplash

    New research reveals reason why chocolate tastes so good

    NASA’s Webb telescope

    Extraterrestrial wonders: Webb Telescope detects its 1st exoplanet

    Asafoetida plant. Photo via Adobe Stock.

    The most controversial ingredient in Indian food

    Best diet for 2023 is the science-backed Mediterranean style of eating

    Best diet for 2023 is the science-backed Mediterranean style of eating

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Child. Image credits - Filip Mroz @mroz / Unsplash

    Your child’s academic success may start with their screen time as infants

    Donald Trump

    Meta says it will restore Donald Trump’s Facebook and Instagram accounts

    WhatsApp

    5 great new features coming to WhatsApp in 2023

    Binance

    Binance is now authorised in seven EU Member States and fifteen jurisdictions worldwide

    Elon Musk

    Elon Musk breaks world record for largest loss of personal fortune in history

    Microsoft

    Microsoft in talks to invest $10 bln in ChatGPT owner – Semafor

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Paris Club

    Paris Club to give Sri Lanka financial assurances amid IMF debt talks – report

    The first coin was officially presented to Hon. Ranil Wickremesinghe, the President of Sri Lanka by Dr. P. Nandalal Weerasinghe, Governor of CBSL at the President’s House at Kandy

    Central Bank issues a Coin to mark 75th Independence Celebration of Sri Lanka

    Kompanna Vidiya

    No more ‘Slave Island’, it’s ‘Kompanna Vidiya’

    Renaming Slave Island blots out a colonial blemish

    Renaming Slave Island blots out a colonial blemish

    Electricity

    Power cut schedule for today in Sri Lanka: February 3rd

    Cows

    China says it successfully cloned 3 highly productive ‘super cows’

    Reserve Bank Of India (RBI)

    India cenbank asks local banks for details of Adani exposure

    U.S. Under Secretary of State for Political Affairs Victoria Nuland

    China has not done enough on Sri Lanka debt restructuring – U.S. diplomat

    Gautam Adani

    Adani loses Asia’s richest crown as stock rout deepens to $84 billion

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    U.S. Under Secretary of State for Political Affairs Victoria Nuland

    China has not done enough on Sri Lanka debt restructuring – U.S. diplomat

    UK hit by biggest strike action in more than a decade

    United Kingdom hit by biggest strike action in more than a decade

    Sri Lanka

    Sri Lanka makes top 10 in ‘Most Instagrammable Places in the World 2023’

    Bangladesh

    Bangladesh secures loans of $4.7 billion from IMF

    Chief pilot Ian Porter with wife Michelle, daughters Samantha and Sydney, who act as his co-pilots, and son Christopher.. Image credits - Samantha Porter

    The family of five flying around the world in a tiny plane

    Tory peer accused of ‘racially charged’ attack on BBC Modi documentary

    Tory peer accused of ‘racially charged’ attack on BBC Modi documentary

    Robert Clive and the taking of India

    Robert Clive and the taking of India

    Gandhi’s influence on Sri Lanka’s non-violent Independence struggle

    Gandhi’s influence on Sri Lanka’s non-violent Independence struggle

    The world is tired Of United States’ wars

    The world is tired Of United States’ wars

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    "Avatar: The Way of Water" has soared into the $2 billion club of top grossing movies worldwide.

    ‘Avatar: The Way of Water’ crosses $2 billion mark in worldwide box office

    Pathaan

    Posters of Shah Rukh Khan’s Pathaan torn down and burnt outside cinemas in India

    Oscars 2023

    Oscars 2023: ‘Everything Everywhere All At Once’ leads nominations

    Much-awaited Sri Lankan 3D animation movie “Gajaman” coming to theatres

    Much-awaited Sri Lankan 3D animation movie “Gajaman” coming to theatres

    Prince William and Prince Harry arrive at the Canadian National Vimy Memorial in Vimy, France on April 9, 2017.. Image credits - Jack Taylor/Getty Images/File

    Prince Harry’s ‘Spare’ creates world record, becomes fastest selling non-fiction book

    Cocaine Bear (Credit: Universal Pictures)

    20 of the best films to watch in 2023

    Avatar

    Avatar: The Way Of Water passes USD 1B at the global box office

    (Image credit: Alamy)

    The 20 best films of 2022

    Harry and Meghan

    ‘Harry & Meghan’ is Netflix’s most watched documentary debut in its first week

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Child. Image credits - Filip Mroz @mroz / Unsplash

    Your child’s academic success may start with their screen time as infants

    Chief pilot Ian Porter with wife Michelle, daughters Samantha and Sydney, who act as his co-pilots, and son Christopher.. Image credits - Samantha Porter

    The family of five flying around the world in a tiny plane

    Vaping

    Researchers uncover new negative effects of vaping

    Paris. Image credits - Alexander Kagan allewollenalex / Unsplash

    World’s ‘most powerful’ tourism city revealed

    Image credits - NASA nasa / Unsplash

    Earth’s inner core may have started spinning other way

    Global citizenship and residence advisory firm Henley & Partners has released its quarterly report on the world's most desirable passports. Click on to find out which passport offers the most access in 2023. Justin Sullivan/Getty Images

    The world’s most powerful passport for 2023 revealed

    Image credits - Tetiana Bykovets tetiana_bykovets / Unsplash

    New research reveals reason why chocolate tastes so good

    NASA’s Webb telescope

    Extraterrestrial wonders: Webb Telescope detects its 1st exoplanet

    Asafoetida plant. Photo via Adobe Stock.

    The most controversial ingredient in Indian food

    Best diet for 2023 is the science-backed Mediterranean style of eating

    Best diet for 2023 is the science-backed Mediterranean style of eating

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Child. Image credits - Filip Mroz @mroz / Unsplash

    Your child’s academic success may start with their screen time as infants

    Donald Trump

    Meta says it will restore Donald Trump’s Facebook and Instagram accounts

    WhatsApp

    5 great new features coming to WhatsApp in 2023

    Binance

    Binance is now authorised in seven EU Member States and fifteen jurisdictions worldwide

    Elon Musk

    Elon Musk breaks world record for largest loss of personal fortune in history

    Microsoft

    Microsoft in talks to invest $10 bln in ChatGPT owner – Semafor

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
NewsIn.Asia
No Result
View All Result
Home Around South Asia

OBOR “very significant for Sri Lanka” says Central Bank Governor

Editor by Editor
May 18, 2017
in Around South Asia, China, India, Sri Lanka, Top Story
Reading Time: 3 mins read
2 0
A A
Share on WhatsApp

Colombo, May 18 (newsin.asia): China’s One Belt One Road (OBOR) global infrastructure project will be “very significant” for Sri Lanka, said Dr.Indrajit Coomaraswamy, Governor of the Central Bank of Sri Lanka (CBSL).

Addressing the Foreign Correspondents’ Association here on Wednesday, Coomaraswamy said that Sri Lanka has a special place in the OBOR scheme because of its strategic location in the Indian Ocean.

“The Chinese consider Sri Lanka as the pearl of the Indian Ocean,” the Governor remarked.

ADVERTISEMENT

However, to get the best out of the OBOR project, Sri Lanka must negotiate properly and hard to “get a good deal,” he cautioned.

On the fate of the controversial China-funded Hambantota port in South Sri Lanka, the Governor said that while the percentage of stake the Chinese partner will get is still under negotiation, Sri Lanka will be getting US$ 1.1 billion in the first year of the deal (US$ 100 million immediately on signing the agreement, US $ 300 million after three months, and the rest in the remaining months of the current year).

He said Sri Lanka needs the US$ 1.1 billion, which the debt-equality swap will fetch, to repay its debts.

Dr.Coomaraswamy pleaded for a broader view at Hambantota port project for assessing its true value.

“Hambantota port should not be seen only as a port but as a means to trigger economic development of the Southern and Uva provinces which had been  neglected by Sri Lankan governments down the line,” he said

The Governor said that Sri Lanka needs to borrow from abroad to fund its development schemes, but the better thing would be to set up a system to attract Foreign Direct Investment which will boost exports and earn foreign exchange.

He regretted that Sri Lanka’s exports have been falling. In this context he welcomed the possibility of signing the India-Sri Lanka Economic and Technical Cooperation Agreement (ETCA) by the end of this year.

Asked if Sri Lankan politics would allow the signing of ETCA, the Governor said that to make the agreement acceptable, it has to be negotiated carefully giving due recognition to the asymmetry between the Indian and Sri Lankan economies and to the needs of the smaller Sri Lankan economy.

But Sri Lankans must realize that it will be senseless not to exploit the huge one billion strong Indian market next door through mechanisms like ETCA. He pointed out that Mexico, a small country bordering the US, has benefited immensely by entering the North American Free Trade Agreement.

He pleaded for rationality in decision making on foreign trade and investment agreements.

“In South Asia we seem to go by our heart more than by our brain,” he joked

He  pointed out how South East Asia countries have set aside political differences to enter into fruitful economic agreements.

Dr.Coomarswamy said that the Sri Lankan government is working out schemes to make doing business in Sri Lanka easier.

The Governor expressed concern about the sharp rise in the credit given to the private sector and said that too much of it is going into the construction industry and private consumption. Even money borrowed by the Small and Medium Enterprises (SME) sector is being diverted to the construction sector which is said to yield quick and good returns.

On the shortage of labor in Sri Lanka (said to  be 400,000) Coomaraswamy said that labor is there but it is in the wrong place, either in the Middle East or in domestic agriculture. Also, too many are in the low skills category. That calls for training facilities upgrade skills and employability, he said.

(The featured image at the top is that of Sri Lanka’s Central Bank Governor ,Dr.Indrajit Coomaraswamy) 

Related Posts

Paris Club
Around South Asia

Paris Club to give Sri Lanka financial assurances amid IMF debt talks – report

February 3, 2023
The first coin was officially presented to Hon. Ranil Wickremesinghe, the President of Sri Lanka by Dr. P. Nandalal Weerasinghe, Governor of CBSL at the President’s House at Kandy
Around South Asia

Central Bank issues a Coin to mark 75th Independence Celebration of Sri Lanka

February 3, 2023
Kompanna Vidiya
Around South Asia

No more ‘Slave Island’, it’s ‘Kompanna Vidiya’

February 3, 2023
Renaming Slave Island blots out a colonial blemish
Around South Asia

Renaming Slave Island blots out a colonial blemish

February 3, 2023
Electricity
Around South Asia

Power cut schedule for today in Sri Lanka: February 3rd

February 3, 2023
Cows
Around South Asia

China says it successfully cloned 3 highly productive ‘super cows’

February 3, 2023
  • Electricity

    Power cut schedule for today in Sri Lanka: February 3rd

    58696 shares
    Share 23496 Tweet 14667
  • Registration open for National Fuel Pass

    6625 shares
    Share 2687 Tweet 1641
  • Foreign Currency Official Exchange Rates from Central Bank of Sri Lanka

    1679 shares
    Share 678 Tweet 417
  • WATCH : Yohani’s first live performance in India

    789 shares
    Share 328 Tweet 192
  • Power interruption schedule released: Check your area power cut time

    747 shares
    Share 325 Tweet 176
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact

© 2022 All rights reserved.

No Result
View All Result
  • Home
  • Around South Asia
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
  • Around The World
  • Breaking News
  • Business
    • Exchange
  • Climate Change
  • Governance
    • Crime
    • Diplomacy
    • Defense
    • Human Rights
    • Politics
    • Strategic Affairs
  • Lifestyle
    • Books
    • Entertainment
      • Arts
      • Cinema
      • Gaming
      • Music
      • Movie
      • Series
      • TV
    • Health
    • Fashion
    • Food
    • Travel
  • Culture
    • Ethnicity
    • Gender
  • Development news
  • Economy
  • Education
  • Environment
  • Coronavirus
  • History
  • National
  • Offbeat
    • Media
    • Music and arts across South Asia
  • Recommended
    • Headlines
    • Highlights
    • Top Picture
    • Top Story
  • Religion
  • Science
  • Sports
    • Football
    • Cricket
      • LPL
      • IPL
    • Tennis
    • Formula 1
    • NBA
  • Tech
    • Instagram
  • United Nations
  • Weather
  • World
    • Japan
    • Russia
    • United States
  • Videos

© 2022 All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

eskisehir escort -

https://www.vudols.com/

- Sağlık Personeli - mersin escort - Antalya korsan taksi