Sri Lanka is now severely feeling the pinch of controversial declaration of preemptive debt default hinting the country’s bankruptcy made by the Central Bank Governor Nandalal Weerasinghe on April 12 as the finance ministry engagement of creditors debt on restructuring process dragging on without any positive results.
Shocking details of how some corrupted top officials of state-run Ceylon Petroleum Corporation(CPC) siphoning large sums of dollars in the procurement of oil from its favorite selected suppliers while penalising others who stepped into ease the shortage of fuel in the country have been revealed, Energy Ministry sources confirmed.
The State-run Urban Development Authority (UDA) has joined the bandwagon to rake in foreign exchange in an effort to overcome the ongoing economic crisis.
Businesses and people live in hope for better seasons to come, and both the LMD-NielsenIQ Business Confidence Index (BCI) and Consumer Confidence Index (CCI) reflect this sentiment