Author: Gayan Chandrasekara
New perceptions study: Sri Lanka excels in tourist visa accessibility, boosting global tourism appeal
Sri Lanka comes in 33rd globally for ‘easy to get visa’. Colombo climbs six places to come in 57th for ‘leader in science and technology’. Sri Lanka’s capital ranks 74th for ‘accessible and good quality healthcare’. London, New York, and Paris remain world’s top 3-ranked cities across all metrics, as Tokyo and Dubai rise to […]
CCPI-Based Headline Inflation Remains Negative in December 2024
According to the Central Bank’s near-term projections, headline inflation, as indicated by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100), remained in negative territory for the fourth consecutive month, registering a deflation of 1.7% in December 2024, compared to a deflation of 2.1% in November 2024. Non-Food deflation (Y-o-Y) moderated to […]
HIP Witnesses Shift in Cruise Ship Origins with European Vessels Leading as Indian Arrivals Decline in 2024
Hambantota International Port (HIP) saw a modest increase in cruise ship arrivals in 2024, with a notable shift in the origins of the vessels. There was a decline in ships from the Indian subcontinent, while arrivals from Europe rose significantly. Of the 23 cruise ships that docked at HIP, only six were from India, while […]
Sri Lanka to Establish Doppler Weather Radar at Puttalam with JICA Funding
Sri Lanka is set to establish a Doppler weather radar in Puttalam, thanks to funding from the Japan International Cooperation Agency (JICA). This initiative is part of a broader effort to improve the country’s weather prediction and disaster preparedness. The island nation, surrounded by vast sea areas like the Bay of Bengal, the Arabian Sea, […]
Sri Lanka and India Exchange Protocol to Revise Agreement on Avoidance of Double Taxation
In a step towards enhancing economic cooperation, the Protocol for amending the Agreement on the Avoidance of Double Taxation was exchanged during President Anura Kumara Dissanayake’s State Visit to India. Sri Lanka and India initially entered into an Agreement in 2013 for the avoidance of double taxation and the prevention of fiscal evasion concerning income […]
‘s GDP Growth at 5.5-pct in Q3 2024
Sri Lanka has experienced a economic upturn, with the Gross Domestic Product (GDP) expanding by 5.5% in the third quarter of 2024 compared to the same period last year. The GDP for the third quarter of 2024 at constant price (2015) has increased up to Rs. 3,151,941 million from Rs. 2,987,544 million which recorded in […]
Sri Lanka Tourist Arrivals YoY Increased by 22-pct in November
Sri Lanka’s tourism sector continues to show strong recovery and growth, as evidenced by a 21.6% year-on-year increase in foreign tourist arrivals for November 2024. According to the Sri Lanka Tourism Development Authority, the number of tourists reached 184,158, compared to 151,496 in the same month of the previous year. This significant increase follows an […]
TISL Unveils Landmark Research on Private Sector Corruption Risks
Transparency International Sri Lanka (TISL) launched its ‘Corruption Risk Mapping Research: A Study on Sri Lanka’s Private Sector’ on December 12 at the BMICH in Colombo. This report presents an in-depth analysis of corruption risks within Sri Lanka’s private sector and explores potential measures to address them. Compiled by an Independent Researcher, this research documents […]
‘ Export Potential
The Sri Lanka Export Development Board (EDB) and the International Trade Centre (ITC) co-organized a series of factory visits as part of the UK-Sri Lanka Trade Mission under the SheTrades Commonwealth+ Programme. 59 factory visits were held from December 2nd to 6th, the initiative brought buyers from the West and North Yorkshire Chamber of Commerce […]
”s long-term foreign currency issuer rating on review for upgrade
Moody’s Ratings (Moody’s) has announced a review for a potential upgrade of the Government of Sri Lanka’s Ca long-term foreign currency issuer rating, which was previously assessed as stable. Accordingly, Moody’s has assigned (P)Caal foreign currency senior unsecured ratings to Sri Lanka’s new USD-denominated issuances in its exchange offer. These include the macro-linked bonds (MLBs), […]
IMF Managing Director Kristalina Georgieva Issues Statement to Financial Community on Sri Lanka
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement about Sri Lanka to Members of the Financial Community today: “The Sri Lankan authorities have been implementing an ambitious economic reform program supported by the IMF, which aims to restore debt sustainability and external viability, underpin broad macroeconomic reforms, and strengthen […]
IMF Staff-Level Agreement on Third Review of EFF Expected This Week: President Says Parliament
The President announced in Parliament that a staff-level agreement (SLA) with the International Monetary Fund (IMF) on the third review of Sri Lanka’s Extended Fund Facility (EFF) is anticipated this week. This announcement was made during the inaugural session in Parliament after the general election, highlighting the critical role of this agreement in securing continued […]