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We want to restructure only foreign debt &’s a win-win situation, CB Governor reiterates
Central Bank Governor reiterated on Thursday that the government’s position about debt restructuring remains the same and intends to restructure only the external debt. “What the President recently said was that the financial advisors are looking at the scenarios of any restructuring of domestic debt. But the government position still remains that we intend to […]
We have almost completed targets to reach staff level agreement: CBSL Governor
Sri Lanka’s Central Bank Governor says that they have almost completed all the required targets to reach a staff-level agreement with the IMF mission due in Sri Lanka at the end of this month. “IMF mission is planning to come here towards the end of the month with an intention to reach the staff level […]
Land Valuation Indicator for Colombo District increased by 17-pct during 1H 2022
Land Valuation Indicator (LVI) for Colombo District increased to 186.9 with a year-on-year change of 17.0 percent during the first half of 2022. This annual increase (17.0) and the semi-annual increase (4.6 percent) of LVI, showed a deceleration of the increasing trend observed in the second half of 2021. All sub-indicators of LVI, namely Residential […]
CBSL Monetary Policy Statement Indicates Economic/Forex Stabilisation
August 18, 2022 (LBO) – The monetary policy statement released by the Central Bank of Sri Lanka indicated stabilisation of the Sri Lankan currency and economy across a broad range of measures. “Pressures witnessed in the domestic foreign exchange market have eased to a large extent with the notable decline in import expenditure and improved […]
Groundbreaking ceremony for INSEE Warehouse at Hambantota Port Industrial Park
INSEE Cement, Sri Lanka’s leading cement manufacturer, began construction of their mega capacity warehouse within the industrial park in Hambantota International Port (HIP) last week. The US$ 3 million investment by INSEE will be the largest warehousing facility inside a port in Sri Lanka for raw materials used in the production of cement. The warehouse […]
Finance Minister requests the public to deposit or sell foreign currency notes in possession
In order to attract foreign currency held with the public into the banking system, the Minister of Finance has issued an Order granting an amnesty period of 1 month effective from 15.08.2022 for persons in, or resident in, Sri Lanka who hold foreign currency notes in possession to: i. Deposit into a Personal Foreign Currency […]
DCTS to replace UK GSP; SL to benefit from duty-free exports to UK on more than 80-pct of products
Over 99% of goods exported from Sri Lanka eligible for duty-free access to the UK £69m of tariffs saved on exports to the UK under the new Developing Countries Trading Scheme The UK is reshaping trade with 65 developing countries, including Sri Lanka, through a new trading framework: the Developing Countries Trading Scheme (DCTS). The DCTS […]
UN Sri Lanka & Government sign Sustainable Development Cooperation Framework for Sri Lanka
The United Nations Sustainable Development Cooperation Framework (UNSDCF) 2023-2027 was launched today by the Government of Sri Lanka and the United Nations in Sri Lanka. The UNSDCF is the Framework that guides the work of all the UN Agencies in Sri Lanka and articulates the collective vision and contribution of the United Nations to support […]
U.S. partners with David Pieris Motor Company to boost electric mobility in Sri Lanka
The U.S. government, through its development agency, the U.S. Agency for International Development (USAID), is committed to accelerating clean energy to drive social and economic sustainable growth in Sri Lanka. On August 16, Sri Lanka’s Minister of Power and Energy, Kanchana Wijesekera and U.S. Ambassador to Sri Lanka, Julie Chung attended a signing ceremony for a Memorandum […]
Central Bank relaxes mandatory conversion requirement on service export proceeds
With the view of encouraging service exporters to repatriate their export proceeds into the country, the Central Bank of Sri Lanka has withdrawn the mandatory requirement to convert service export receipts/proceeds, that are received in Sri Lanka on or after 12 August 2022. The service exporters may use their export proceeds so repatriated to Sri […]