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»  Rajgama Heroes !
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyYesterday at 12:06 pm by කිත්සිරි ද සිල්වා

» Coronavirus Updates
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyYesterday at 7:26 am by The Invisible

» Thread for News on CSE and SL Economy
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyYesterday at 7:17 am by The Invisible

» Access Engineering AEL Technical Analysis
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyYesterday at 7:14 am by The Invisible

» In the Meantime, Within Our Shores !
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyThu Jul 02, 2020 10:35 pm by කිත්සිරි ද සිල්වා

» Obituary Notice.
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyWed Jul 01, 2020 12:51 pm by කිත්සිරි ද සිල්වා

»  6000 Post Club , Celebration of a Great Milestone, Slstock
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyTue Jun 30, 2020 9:35 am by slstock

» LIOC.N0000 (Lanka IOC PLC)
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyTue Jun 30, 2020 8:00 am by LSE

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» CFVF - First Capital
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» RCL - Royal Ceramics
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» Stocks - Banks Drag Wall Street Lower After Fed Buyback Ban; Dow Down 290
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyFri Jun 26, 2020 11:35 pm by nihal123

» Sri Lanka plans US$4bn PPP for LRT in place of Japan funded soft-loan project
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyThu Jun 25, 2020 8:57 pm by The Invisible

» PABC.N0000 (Pan Asia Banking Corporation PLC)
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» JKH.N0000
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyWed Jun 24, 2020 9:33 pm by The Invisible

» Plantation sector updates
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyWed Jun 24, 2020 10:32 am by The Invisible

» Dividend Announcements
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» LOLC Holdings
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» The Central Bank of Sri Lanka Further Reduces the Statutory Reserve Ratio
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyMon Jun 22, 2020 11:53 am by nihal123

» Sri Lanka tea prices pickup marginally mid June
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptySun Jun 21, 2020 8:11 pm by The Invisible

» කොළඹ කොටස් වෙළඳපොළ ඩිජිටල්කරණය කිරීමේ වැඩපිළිවෙල ඇරඹෙයි
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptySun Jun 21, 2020 12:55 pm by HUNTER

» Sri Lankans stock up, buy online in Covid-19 curfews, informal workers hard-hit: survey
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptySun Jun 21, 2020 9:34 am by The Invisible

» Sri Lanka chicken supplies to tighten after Covid-19 crisis, maize import controls
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» S&P SL20 සමාගම් ලැයිස්තුවේ වෙනසක්.
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptySat Jun 20, 2020 7:56 am by slstock

» HNB රුපියල් බිලියන 5ක ණය යෝජනා ක‍්‍රමයක් දියත් කරයි
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyFri Jun 19, 2020 10:47 pm by nihal123

» SAMP.N0000 (Sampath Bank PLC)
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyFri Jun 19, 2020 1:08 pm by dakzsl

» HAYC - Haycarb
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyFri Jun 19, 2020 12:04 pm by Rational Investor

» විශාලම ලැයිස්තුගත සමාගම් 50 විනිවිදභාවය පිළිබඳ වාර්තාවක් එළිදැක්වෙයි
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyThu Jun 18, 2020 11:13 pm by nihal123

» HAYL.N0000 Hayleys PLC
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» GLAS.N0000 (Piramal Glass Ceylon PLC)
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» Sri Lanka bank forex funding pressures, bad loans to rise after Covid-19: Fitch
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» Sri Lanka telecom regulator asked find businesses to use Lotus Tower
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» Gota's Era
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» Fitch Revises Ratings on 11 Sri Lankan Financial
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» Carlton Sports Network to resume broadcasts soon – Rohan Welivita
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» සල්ලි අච්චු ගැසුවාද?
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyWed Jun 10, 2020 11:35 pm by nihal123

» වටිනා පාඩමක්!
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyWed Jun 10, 2020 9:58 pm by Backstage

» Sri Lanka’s General Election on August 05
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» Hayleys MGT
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» AEL Access Engineering
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyTue Jun 09, 2020 11:08 am by The Invisible

» Sri Lanka import controls, cargo bottleneck hit apparel exporters
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyMon Jun 08, 2020 4:12 pm by The Invisible

» Sri Lanka tea prices ease lower, low growns drive May average to all time high
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» Sri Lanka plans to allow tourists from August, no mandatory quarantine
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» Sri Lanka makes trillion rupee mini-budget till August under Presidential powers
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyFri Jun 05, 2020 10:48 am by The Invisible

» HHL.N0000 ( Hemas Holdings PLC)
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyThu Jun 04, 2020 4:32 pm by Backstage

» LION.N0000 (Lion Brewery Ceylon PLC)
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyThu Jun 04, 2020 2:21 pm by The Invisible

» කොටස්--වෙළෙඳපොළ--වැසුවාද
Sri Lanka President orders 6-month debt moratorium, 4-pct working capital EmptyWed Jun 03, 2020 9:49 pm by nihal123

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Sri Lanka President orders 6-month debt moratorium, 4-pct working capital

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Sri Lanka President orders 6-month debt moratorium, 4-pct working capital Empty Sri Lanka President orders 6-month debt moratorium, 4-pct working capital

Post by The Invisible on Tue Mar 17, 2020 9:48 pm



ECONOMYNEXT – Sri Lanka’s President Gotabaya Rajapaksa ordered banks to suspend collecting loans for six months and provide working capital for businesses loans at 4 percent, as the country is battling a Coronavirus epidemic.

“Loan repayments to banks and financial institutions are a big burden for businesses,” President Rajapaksa said in a television address to the nation.

“I am ordering that debt should not be collected or six months and for working capital to be provided at 4 percent.”

Sri Lanka’s banks had already given a debt moratorium to tourism which was hit by a suicide bombings last year and a debt moratorium to those who requested in a proposal made by Prime Minister Mahinda Rajapaksa.

President Rajapaksa also ordered a price control on businesses. Dhall shall be sold at 65 rupees and a tin of sardine at 100 rupees he said, without specifying the size. (Colombo/Mar17/2020)








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Sri Lanka President orders 6-month debt moratorium, 4-pct working capital Empty Re: Sri Lanka President orders 6-month debt moratorium, 4-pct working capital

Post by කිත්සිරි ද සිල්වා on Tue Mar 17, 2020 11:05 pm

ජාතික ආපදාවත් චන්ද හිගමනට ! Shocked

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Sri Lanka President orders 6-month debt moratorium, 4-pct working capital Empty Re: Sri Lanka President orders 6-month debt moratorium, 4-pct working capital

Post by The Invisible on Wed Mar 18, 2020 10:16 am

I thought the speech was entirely to focus on what the Gvt doing to control this virus and why the people of country should actively support government. But at the end I saw reduction in dhal, canned fish prices ne Shocked
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Sri Lanka President orders 6-month debt moratorium, 4-pct working capital Empty Re: Sri Lanka President orders 6-month debt moratorium, 4-pct working capital

Post by කිත්සිරි ද සිල්වා on Wed Mar 18, 2020 10:23 am

The Real Message Yesterday !

" රටවැසියනි,
අපි ඉදිරියට දෙන පරිප්පු කෑමට සූදානම් වෙන්න ! " Shocked

The Invisible wrote:I thought the speech was entirely to focus on what the Gvt doing to control this virus and why the people of country should actively support government. But at the end I saw reduction in dhal, canned fish prices ne Shocked

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Sri Lanka President orders 6-month debt moratorium, 4-pct working capital Empty Re: Sri Lanka President orders 6-month debt moratorium, 4-pct working capital

Post by The Invisible on Wed Mar 18, 2020 1:00 pm

parippu samaga tin maalu Razz
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Sri Lanka President orders 6-month debt moratorium, 4-pct working capital Empty Re: Sri Lanka President orders 6-month debt moratorium, 4-pct working capital

Post by malanp on Wed Mar 18, 2020 3:07 pm

The Invisible wrote:

ECONOMYNEXT – Sri Lanka’s President Gotabaya Rajapaksa ordered banks to suspend collecting loans for six months and provide working capital for businesses loans at 4 percent, as the country is battling a Coronavirus epidemic.

“Loan repayments to banks and financial institutions are a big burden for businesses,” President Rajapaksa said in a television address to the nation.

“I am ordering that debt should not be collected or six months and for working capital to be provided at 4 percent.”

Sri Lanka’s banks had already given a debt moratorium to tourism which was hit by a suicide bombings last year and a debt moratorium to those who requested in a proposal made by Prime Minister Mahinda Rajapaksa.

President Rajapaksa also ordered a price control on businesses. Dhall shall be sold at 65 rupees and a tin of sardine at 100 rupees he said, without specifying the size. (Colombo/Mar17/2020)


Financial Times says Interest is suspended for 6 months while Economynext  says loan collection. ultimately only talk, nothing will happen. banks will operate as usual.

people will vote for them.

does president have powers to order banks or he needs to order through a gazzete or through Central Bank?

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Sri Lanka President orders 6-month debt moratorium, 4-pct working capital Empty Re: Sri Lanka President orders 6-month debt moratorium, 4-pct working capital

Post by slstock on Wed Mar 18, 2020 3:17 pm

malanp wrote:

Financial Times says Interest is suspended for 6 months while Economynext  says loan collection. ultimately only talk, nothing will happen. banks will operate as usual.

people will vote for them.

does president have powers to order banks or he needs to order through a gazzete or through Central Bank?

1) President can only make a request.

2) He will need to move this through proper channels for it to be a law !

Most probably nothing will happen in this case as you say
( unless some banks voluntarily does it)


ps : Its different from the scene , when President asked  Royal Thomian
match to be not held ( but they held it anyway)  Vs him easily ordering it not to be held .

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