World-renowned economist and Nobel laureate Prof Joseph Stiglitz on Thursday urged Sri Lanka to tackle its foreign debt crisis which was impeding growth.
Speaking at a high—powered economic forum in Colombo, he said that the assistance of the World Bank and other multilateral agencies should be sought to find ways of easing the debt problem.
Stiglitz, during a panel discussion with Prime Minister Ranil Wickremesinghe and billionaire investor George Soros, suggested a tax on land and property to boost sagging tax revenues.
However this proposal was opposed by another panel of discussants in which Stiglitz did not take part. Sri Lanka says it is seeking the advise of international economists and experts to suggest a new development path for the country. (Bandula)
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Tamar Amitai, a 25-year-old Israeli tourist who went missing in Uppuveli, Trincomalee, was found safe after a three-day joint search operation today.
The Colombo High Court today (28) sentenced former parliamentarian Hirunika Premachandra to three years of Rigorous Imprisonment over charges of the involvement of an abduction.
In his special statement, President Ranil Wickremesinghe announced that debt restructuring agreements will postpone all bilateral loan payments to foreign countries until 2028. Additionally, Sri Lanka will have until 2043 to repay these loans on concessional terms.
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