All Blogs
IMF asks Sri Lanka to resolve uncertainty surrounding local debt restructuring
The International Monetary Fund is requesting Sri Lankan authorities to resolve the uncertainty surrounding the domestic debt restructuring and control the interest rates. “We have taken note that this uncertainty has elevated interest rates in the country,” Peter Breuer, Senior Mission Chief for Sri Lanka told reporters in Colombo. “So, we are encouraging the authorities […]
Harsha proposes GDP growth-linked instrument for domestic debt optimisation
During a recent press conference, Opposition MP Harsha de Silva warned against the potential risks of domestic debt optimization, stressing the need for extreme caution. De Silva cautioned that if not managed carefully, domestic debt optimization could become a burden rather than a relief for the economy. Citing the net debt relief Laffer curve, de […]
Hambantota International Port launches Duty Free Complex
The Hambantota International Port (HIP) launched its Duty Free Complex with the opening of 2 duty free shops within the port’s premises. The complex is designed to grow the duty-free business catering to the vessels calling HIP. The first two operators to set up at HIP’s duty free complex are Royale Electronics and United Life, […]
FAO & China launch USD1.5 mn project to strengthen Fruit Value Chains in Sri Lanka
The Food and Agriculture Organization of the United Nations (FAO) initiated a 1.5 million USD project via funding from China as part of the South-South Cooperation (SSC) programme, to improve the quality and value of Sri Lankan fruits in the global market by improving the production and commercialization of fruit value-chains in Sri Lanka. The […]
TISL files petition with Supreme Court challenging Anti-Corruption Bill
Transparency International Sri Lanka (TISL) on Wednesday filed a petition (SC SD 19/2023) with the Supreme Court, challenging the Anti-Corruption Bill, highlighting several key concerns. While TISL welcomes the long-awaited Anti-Corruption Bill, TISL’s petition was filed challenging certain provisions of the law, on the basis that they are unconstitutional, considering that the law must be […]
President instructs amendment of Land Act to suit current needs
President Ranil Wickremesinghe instructed the relevant officials to amend the existing ordinances regarding lands to suit the current development needs. The President also informed to appoint a suitable committee to speed up the work. President Ranil Wickremesinghe issued these instructions during a discussion held at the Presidential Secretariat yesterday (10) evening, on amending the provisions […]
Creditor Committee wants debt treatment on terms at least as favorable as ones agreed by them
The official Creditor Committee comprised of 17 countries stresses the importance for private creditors and other official bilateral creditors of Sri Lanka to provide a debt treatment on terms at least as favorable as the ones agreed by the Creditor Committee. Releasing a statement after the first meeting of the Creditor Committee for Sri Lanka, […]
Two Cruise Ships at Hambantota International Port
Two cruise ships, MS Europa 2 and MS Azamara Quest visited Hambantota International Port (HIP) on Tuesday (9th). More than 900 passengers disembarked to visit popular tourist destinations in the South. Amongst the sights were the Yala National Park, Udawalawe National Park, Bundala National Park, Kataragama Devalaya and the Mulkirigala Temple. The visitors also had […]
Cabinet nod for World Bank funded social security programme
The proposed activities of the International Monetary Fund’s Extended Fund Facility program include measures to implement a strong social safety net to protect the most vulnerable groups in society, a statement on Cabinet decisions said. This week’s Cabinet decisions statement says the World Bank has agreed to provide a loan of USD 200 million to […]
Sri Lanka – Thailand FTA scheduled for early 2024
The fourth round of talks on the proposed Sri Lanka-Thailand Free Trade Agreement was held recently with both parties agreeing to complete the negotiations and prepare the relevant agreement for signature by the first quarter of 2024. The final round of discussions are scheduled to be held on 27 and 28 June, where a delegation […]