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CBSL implements Single Policy Interest Rate Mechanism by Introducing Overnight Policy Rate
The Monetary Policy Board of the Central Bank of Sri Lanka has decided to implement a single policy interest rate mechanism transitioning from its dual policy interest rate mechanism, with effect from 27 November 2024. Accordingly, the Central Bank introduces the Overnight Policy Rate (OPR), as its primary monetary policy tool to signal and operationalise […]
Local Consortium of SL Commits to Supporting Govt’s International Sovereign Bond Restructuring
The Local Consortium of Sri Lanka (the “LCSL”), comprised of domestic commercial banks and financial institutions, commits its full support for the Exchange Offer and Consent Solicitation launched today by the Government of Sri Lanka (the “Government”) to restructure the US$12.55bn in outstanding International Sovereign Bonds (“ISBs”) including terms tailored for local holders (the “Local […]
Global Sovereign Sector Outlook Is Neutral, with US Policy Risks to the Fore: Fitch Ratings
Global sovereign credit conditions are neutral entering 2025, as an only mild slowdown in world economic growth and further cuts to policy interest rates are balanced against persistent pressures on public finances and elevated geopolitical risks, Fitch Ratings says in its Global Sovereigns Outlook for 2025. Uncertainty over post-election US policies and their impact poses […]
Opinion: From Guesswork to Governance – How Data-Driven Policy Can Transform Sri Lanka’s Future
By Jithendra Antonio Amidst the sweeping wave of digital transformation, Sri Lanka stands at a consequential inflection point. While government decisions often rely on experience and tradition, the power of data can unlock solutions grounded in real-time evidence, directly addressing the needs of the people. Data-driven governance has proven transformative globally streamlining services, tackling corruption, […]
Ceylon Chamber of Commerce Welcomes Staff-Level Agreement for Third Review of IMF Program
The Ceylon Chamber of Commerce welcomes the announcement of a staff-level agreement for the third review under the International Monetary Fund (IMF) Extended Fund Facility program for Sri Lanka. This agreement underscores the progress the country has made in implementing structural reforms and achieving fiscal sustainability during this critical period of economic recovery. While acknowledging […]
‘s behind the US indictment of Indian billionaire Gautam Adani?
Indian billionaire Gautam Adani, one of the world’s richest people, has been indicted on multiple counts of fraud in the US. The criminal charges are related to his alleged role in a scheme to bribe officials in India. Prosecutors say he and other senior executives paid more than 250 million dollars to win contracts for […]
” Rating; Outlook Stable
Fitch Ratings has assigned Sri Lanka-based Senfin Asset Management (Private) Limited a first-time National Long-Term Rating of ‘BBB-(lka)’ with a Stable Outlook. Senfin is a 100%-owned subsidiary of a mid-sized finance and leasing company, Senkadagala Finance PLC (SFCL, BBB(lka)/Stable). The company manages unit trusts and provides discretionary portfolio services for institutional and high-net-worth investors. It […]
Foreign Investors Explore Opportunities at Trincomalee and Hambantota Ports
As part of the Voyage Sri Lanka 2024 initiative, a group of 20 potential foreign investors from countries including India, Saudi Arabia, Maldives, France, Japan, Thailand, the United States, and Cambodia visited the Trincomalee and Hambantota ports on November 24th and 25th. The visits aimed to showcase Sri Lanka’s potential as a hub for maritime […]
ComBank Digital soars past 1.5 million registered users in a landmark moment
The Commercial Bank of Ceylon has achieved another milestone in its digital revolution, with ‘ComBank Digital’ – the Bank’s omni-channel digital banking platform – surpassing 1.5 million registered users. Announcing the landmark, the Bank said the award-winning platform continues to lead digital transformation in Sri Lanka’s banking sector as the most widely used digital channel […]
IMF Reaches Staff-Level Agreement on the Third Review under SL’s Extended Fund Facility Arrangement
An International Monetary Fund (MF) team led by Peter Breuer, Senior Mission Chief for Sri Lanka, visited Colombo from November 17 to 23, 2024. After constructive discussions in Colombo, Mr. Breuer and Deputy Mission Chief Ms. Katsiaryna Svirydzenka issued the following statement: “We are pleased to announce that the IMF team reached staff-level agreement with the […]