Author: Ashanthi Ratnasingham
Will Govt place entire burden of domestic treasury bond debt optimization on EPF? Harsha
In a recent press conference MP Harsha de Silva outlined several critical points regarding the IMF Program and expressed general agreement with the stabilization program but stressed the need for specific amendments to focus the program towards medium-term growth. De Silva questioned the four-year plan outlined in the IMF Program. He pointed out that while […]
Sampath Bank reports profit before tax of Rs 4.5Bn and profit after tax (PAT) of Rs 2.6Bn at 31st March
Sampath Bank succeeded in raising Rs 10 Bn in Tier 2 capital via a debenture issue in February 2023 and despite the depressing economic outlook in the Country, the issue was oversubscribed – a testament to the investor confidence placed in Sampath Bank and widespread acceptance of the stability and prudent governance of the Bank. […]
Sri Lanka economy expected to contract by 3-pct in 2023, Grow 1.5-pct in 2024: IMF
Given the weak external environment and domestic policy tightening, aimed at restoring macroeconomic stability, Sri Lanka’s economy is expected to contract by 3 percent in 2023, before registering a modest growth of 1.5 percent in 2024, Krishna Srinivasan, Director of the Asia and Pacific Department of the International Monetary Fund (IMF) said. Speaking at a […]
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 […]
SJB opposes selling of strategically important SoEs but wants an end to monopoly
SJB Parliamentarian Eran Wickramaratne assured that main opposition was ready with plan and strategies to implement projects for the wellbeing of the people no sooner it comes to office after an elections due shortly. People of this country are eagerly awaiting to oust this government which has no mandate or even proper plan to implement […]
Sri Lanka Central Bank assures banking sector stability in debt restructuring process
The Central Bank of Sri Lanka (CBSL) has assured the banks that the regulatory stance in the on-going Domestic Debt Optimization (DDO) discussions with the diverse stakeholders will be that, the banking sector stability cannot be put at risk, a statement said. Presently the banking sector is well capitalized with average Capital Adequacy Ratio over 15% and […]
ADB President commends SL for action taken to overcome economic crisis and pledges further support
Foreign Minister Ali Sabry met with the President of Asian Development Bank, Masatsugu Asakawa in Seoul, Republic of Korea during the 56th Annual Meeting of the ADB, Tuesday. The Minister expressed Sri Lanka’s gratitude for the excellent partnership and cooperation extended by the Asian Development Bank during a challenging period for Sri Lanka and for […]
Govt public debt restructuring and concerns of the banking sector: SL Banks Association
The banks believe that all stakeholders involved in structuring the restoration of Sri Lanka’s Balance of Payments to a sustainable equilibrium must necessarily take a careful look at the resulting outcomes – impact to the banking sector capital and liquidity in a potential Domestic Debt Restructuring (DDR) and minimise the risk to the sector, a […]
President directs immediate action to solve plantation sector issues
President Ranil Wickremesinghe says that the government is committed to carrying out its agricultural modernization plan. Speaking at recent meeting held at the Presidential Secretariat he emphasized that there are several issue fading the sector and that one of the main challenges was related to the Mahaweli Authority and its lands, which are now being […]
‘s Central Bank says structural reforms needed for short and long-term issues: Annual Report
The implementation of structural reforms focusing not only on restoring near term stability but also on rebuilding the nation with adequate safeguards and resilience in the post-debt restructuring and post-IMF bailout era is vitally important for permanent revival from the current economic crisis, Central Bank of Sri Lanka releasing its 2022 annual report said. The […]
ITC meets Min of Trade to present e certificate of origin system for SL exporters
Nalin Fernando, Minister of Trade, Commerce and Food Security in Colombo was presented the new Electronic Certificate of Origin (eCoO) system by the International Trade Centre (ITC) team, led by Ms. Raghad Altalli, Programme Manager and Trade Facilitation Advisor. The new eCoO system, implemented by the Department of Commerce (DoC), is a fully digital solution […]
SL welcomes UN agreement to protect high seas
Sri Lanka welcomes the conclusion of negotiations on a landmark agreement to enhance the international legal regime concerning the conservation of marine biological diversity in the High Seas which concluded on 4th March at the United Nations Headquarters, New York, Ministry of Foreign Affairs said in a statement released today. The agreement covers almost two-thirds […]