IMF asks Sri Lanka to resolve uncertainty surrounding local debt restructuring
The International Monetary Fund is requesting Sri Lankan authorities to resolve the uncertainty surrounding the domestic debt restructuring and control the …
Creditor committee to ensure comparable treatment; IMF expects negotiations to end by 1st program review
IMF Deputy Managing Director says that it is encouraging to see official creditors organizing themselves around a coordinated platform which helps ensure the …
Creditors’ Meeting launched; Japan, India & France agree on swift debt restructuring negotiation for SL
Japan, India, and France in the margins of the Spring Meetings on Thursday formally launched the Creditors’ Meeting on Sri Lanka’s debt restructuring …
Japan, India & France to announce the launch of debt restructuring negotiation process on Sri Lanka
Japan, India, and France will hold a press briefing on Thursday in the margins of the Spring Meetings to announce the launch of the debt restructuring …
People’s Bank of China to consider renewing swap arrangement with CBSL for another 3 years: report
People’s Bank of China (PBoC) has indicated that it will consider renewing its swap arrangement with the CBSL in 2024 for another three years if there is …
Wealth transfer tax & inheritance tax to be introduced in Sri Lanka
To reach a primary fiscal surplus of 2.3 percent of GDP by 2025, Sri Lanka will revamp the property tax system and introduce a wealth transfer tax. In …
IMF starts an in-depth governance diagnostic exercise on Sri Lanka, a first in Asia
The IMF is conducting an in-depth governance diagnostic exercise, which will assess corruption and governance vulnerabilities in Sri Lanka and provide …
Sri Lanka’s Probable IMF Support Deal Positive for Debt Negotiations: Fitch Ratings
Fitch Ratings believes Sri Lanka is likely to secure financing support from the IMF after the fund’s Executive Board set a date of 20 March to review the …
We sent Letter of Intent to IMF; expecting a reply before end of this month: President
The island nation is expecting the go-ahead from the Executive Board of the IMF for its Extended Fund Facility arrangement before the end of this month. …
We are ready to unlock IMF program; guidance band removed: CBSL Governor
Sri Lanka is now standing ready to unlock the IMF Extended Fund Facility arrangement as all prior actions of the program have been completed, the Central Bank …
Haircut in Chinese context politically very difficult but discussions continue: Kristalina Georgieva
International Monetary Fund Managing Director Kristalina Georgieva says that a haircut in the Chinese context is politically very difficult even though there …
Sri Lanka’s economy expected to register 8-pct contraction in 2022; gradual recovery from 2H2023: CBSL
Sri Lanka’s economy is projected to register a real contraction of around 8.0 percent in 2022 and a gradual recovery from the second half of 2023, the …
CCPI inflation would start falling down from this month: CBSL Governor
Sri Lanka’s Central Bank Governor expects that the Colombo Consumer Price Index (CCPI) will start falling down from this month and to follow a disinflation …
Wealth Tax is part of IMF discussion for Sri Lanka’s tax reforms: Staff Mission
The IMF-supported reform program will implement major tax reforms in Sri Lanka including making the personal income tax more progressive and broadening the tax …
Financing assurances from creditors crucial before IMF financial support: Staff Mission
Financing assurances to restore debt sustainability from Sri Lanka’s official creditors and making a good faith effort to reach a collaborative agreement …
Sri Lanka adds Indian Rupee to designated foreign currencies for off-shore banking
Sri Lanka’s Central Bank has added the Indian Rupee to the list of currencies that are permitted to be used for offshore banking, taking the total to 16. The …
We want to restructure only foreign debt & it’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 …
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 …
Sri Lanka’s stock exchange: Few people control it & few people rig it, says President
President Ranil Wickremesinghe says that he has questions about putting shares of the state-owned enterprises onto the current Stock Exchange. “What is …
Sri Lankan merchandise exports grew to an all-time record for the month of April
Earnings from the merchandise exports increased by 11.87% y-o-y to US$ 915.3 Mn in April 2022, the highest monthly value recorded for the month of April. This …