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Rice mills declared an essential service
Apr 10, 2020 (LBO) – Since the provision of essential foods and rice production storage and distribution is imperative to ensure food security, services of the owners of all rice mills have been declared an essential service under the COVID – 19 quarantine process. Statement from President’s Media Division: Rice mills owners of the country […]
Saluting health care professionals – frontliners at Covid-19 global response
The year 2020 has forced all people living around the world with one of the biggest challenges since World War 2. This crisis of the Covid 19 pandemic, or more commonly known as the Corona Virus is a threat which is unprecedented and whilst the health impacts and casualty rates increase globally, the economic impacts […]
Joint Apparel Association Forum predicts USD1.5bn reduction in June quarter exports
Apr 10, 2020 (LBO) – The Joint Apparel Association Forum (JAAF) foresees an immediate contraction of 1.5 billion US dollars in Sri Lankan apparel exports during the 3-month period ending in June when compared to the last fiscal year. “However, the damage does not stop there as we expect further demand contractions that could result […]
Sri Lanka official reserves down to USD7.5bn by end-March
Apr 09, 2020 (LBO) – Sri Lanka’s gross official reserves were 7.5 billion US dollars (USD7,525.7mn) by the end of March, down from 7.9 billion US dollars in February, the latest Central Bank data showed. By the end of March, the foreign currency reserves were 7,119.1 million dollars while the reserve position in the IMF […]
European Union provides EUR 22mn grant to Sri Lanka
The European Union (EU) and its Member States are working with partners around the world to tackle the outbreak of the coronavirus pandemic and mitigate the effects of the crisis. The EU’s response follows a ‘Team Europe’ approach, aimed at saving lives by providing quick and targeted support. This includes improving the preparedness for and […]
US donates USD1.3mn to protect Sri Lanka healthcare workers & improve testing
Apr 09, 2020 (LBO) – The United States Government, through the United States Agency for International Development (USAID) has committed 1.3 million US dollars to help protect healthcare workers and slow the spread of the virus with infection prevention and control support “Through even the most difficult times, Americans and Sri Lankans support one another […]
PwC expects real GDP growth in Sri Lanka to be less than 2-pct this year
Apr 09, 2020 (LBO) – PricewaterhouseCoopers (PwC) expects real GDP growth in the Island to be less than 2 percent this year even if the pandemic is contained by mid-2020. Prior to the Coronavirus outbreak, the Central Bank expected the economy to grow at 4.5-5 percent with a modest recovery from the Easter Sunday attacks […]
‘s path to resurgence?
The European Union is discussing economic stimulus measures. EU finance ministers are due to meet today for talks on how to stave off a recession. Angela Merkel has pledged Germany’s support and member states battered by the coronavirus are desperate to get the money flowing.But there’s fierce debate over how to do that.
SL weak public finances will exacerbate economic shocks from COVID-19
By Fellows of the Advocata Institute Sri Lanka’s shaky public finances are about to receive another blow from the fallout of Covid-19. The most crucial aspect of a pandemic is always the human cost, but the spread of the virus has important repercussions for the economy. Studies indicate that pandemic impacts a country’s economy through […]
Sri Lanka : COVID -19 update
Apr 08, 2020 (LBO) – According to the World Health Organisation in Sri Lanka 180 people have tested positive with 38 people having recovered and 5 deaths reported. As cases start to climb in the South-East Asia Region, the Regional Director Dr Poonam Khetrapal Singh held a virtual meeting with Health Ministers of the Region […]