Category: Economy and Markets
Fitch Ratings’ decision to upgrade Sri Lanka shows recognition of progress in economic stabilisation: CCC
The Ceylon Chamber of Commerce is pleased to see the tangible results of the commitment and sustained efforts towards restoring Sri Lanka’s macroeconomic stability, reflected in Fitch Ratings’ decision to upgrade the country’s Long-Term Foreign-Currency Issuer Default Rating from ‘CCC+’ to ‘B-’, with a Stable Outlook. The upgrade is an important development in Sri Lanka’s economic […]
Sri Lanka’s Exports Surpass US$ 12 Bn in First Eight Months of 2026
Sri Lanka’s export sector has surpassed the US$ 12 Bn mark during the first eight months of 2026, with total exports reaching US$ 12.01 Bn, an increase of 4.26% compared with US$ 11.52 Bn recorded during the corresponding period of 2025. The growth reflects continued momentum in Sri Lanka’s export performance, with both merchandise and […]
IMF Staff Team Concludes Visit to Sri Lanka
Washington, D.C.: An International Monetary Fund (IMF) team led by Mr. Evan Papageorgiou visited Sri Lanka during September 10-23, 2026, to discuss (i) recent macroeconomic developments and progress in implementing economic and financial policies under the Extended Fund Facility (EFF) arrangement, and (ii) policy recommendations in the context of the 2026 Article IV Consultation. At […]
Fitch Upgrades Sri Lanka to ‘B-‘ from ‘CCC+’; Outlook Stable
Fitch Ratings has upgraded Sri Lanka’s Long-Term Issuer Default Ratings (IDRs) to ‘B-’ from ‘CCC+’. The Outlook is Stable. The upgrade reflects the implementation of macro-stabilization policies, underpinned by structural reforms, which have eased external financing risks and provide a degree of resilience to shocks. This is reflected by sharp improvements in fiscal and external […]
CBSL Governor: Reserve accumulation must be backed by sound fundamentals
Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe has said reserve accumulation cannot be viewed in isolation from the broader macroeconomic policy framework, stressing it must be underpinned by sound external sector fundamentals and an economy capable of generating and retaining foreign exchange. Weerasinghe was delivering the keynote address on “Challenges in Building […]
Sri Lanka’s services boom offsets manufacturing slowdown as PMI data shows uneven August recovery
Sri Lanka’s economy sent a mixed but broadly positive signal in August, as new Central Bank data show services activity accelerating sharply even as manufacturing growth lost momentum. The Purchasing Managers’ Index for Services jumped to 65.6 in August from 61.4 in July, marking an acceleration in what was already a strong expansion. The pickup […]
World Bank mobilizes record USD112 Bn in private capital, with lessons for economies like Sri Lanka
The World Bank Group has pulled in more private capital this year than at any point in its history, a shift that carries real relevance for import-reliant, foreign-exchange-constrained economies like Sri Lanka looking to attract investment beyond traditional aid channels. Private capital mobilized by the Group more than tripled over the past four years, climbing […]
Chasing the next $3Bn: What it will take for Sri Lanka’s apparel sector to get there
For thirty years, Sri Lanka’s apparel industry has quietly powered the country’s export economy accounting for roughly 40% of merchandise export revenue and employing 300,000 to 350,000 people. That scale wasn’t accidental. It was built through deliberate government-industry planning dating back to the early 1990s. The first transformation, anchored by the 200 Garment Factories Programme, […]
Sri Lanka records 4.2 percent GDP growth for 2Q 2026
The GDP for the second quarter of 2026 at constant price (2015) has increased to Rs. 3,029,816 million from Rs. 2,908,570 million which was reported in the second quarter of 2025. The GDP growth rate for the second quarter of year 2026 has been reported as 4.2 percent positive growth. The overall Agricultural activities declined […]
Build buffers before the storm, Central Bank Governor tells reserve managers
Sri Lanka’s Central Bank Governor Dr. Nandalal Weerasinghe used the inaugural Reserve Management Conference in Colombo on 10 September to deliver a pointed message to central bankers from across Asia and beyond: the world reserve managers once knew no longer exists, and the old playbook needs rewriting. Addressing delegates at the opening of the two-day […]
Opinion: For the first time, an idea that needs several ministries has the right place to go—the NBFC
By Lalith Kahatapitiya The Cabinet’s announcement of 24 August carried more than an administrative decision. Read carefully, it has the power to become the turning point of Sri Lanka’s economy, if what it promises is built into the Centre from the start. What the Centre is for The Cabinet decision of 24 August creates a […]
Abu Dhabi Securities Exchange and Colombo Stock Exchange Sign MoU to Strengthen Capital Market Connectivity
Members of the Sri Lankan Delegation meeting with members of ADX The Colombo Stock Exchange (CSE) and the Abu Dhabi Securities Exchange (ADX) have signed a Memorandum of Understanding (MoU) to strengthen capital market cooperation between Sri Lanka and the UAE. The agreement aims to promote knowledge exchange, enhance, support collaboration across trading technologies and […]