Category: Economy
Next Steps in Sri Lanka’s Economic Program Outlined by IMF
The International Monetary Fund (IMF) has recently approved the first review of Sri Lanka’s economic program, marking a significant milestone in the country’s economic recovery. However, the focus now shifts to the next steps in the program. “Program performance has been satisfactory, as signaled by the completion of the review,” says Julie Kozack, Director of […]
SL economy to record positive growth rates and gain further momentum over medium term: CB Governor
Sri Lanka has entered a path of recovery following the worst economic crisis in its postindependence history while the policy measures that were taken by the Government and the Central Bank during 2022 and 2023 helped restore macroeconomic stability, the Governor of the Central Bank said. Governor P. Nandalal Weerasinghe announcing the Central Bank’s annual […]
Uncertain Economic Outlook for Sri Lanka Amid Debt Restructuring & Structural Reforms: World Bank
The economic future of Sri Lanka remains uncertain, as the country navigates debt restructuring negotiations with private creditors and implements structural reforms to boost growth potential, according to the World Bank’s latest Global Economic Prospects report. The report highlighted that the economy contracted by an estimated 3.8 percent in 2023, and credit to the private […]
VIDEO INTERVIEW: What will the year 2022 look like for Sri Lanka? W A Wijewardena
“Sri Lanka will have a very gloomy future in 2022. If the government is interested in avoiding it, it has to immediately change the present economic policy.buy amoxicillin generic over the counterUnless the government does that, we are heading towards a major disaster in 2022.” Dr. W A Wijewardena, Former Central Bank Deputy Governor
Prime Minister urges business community to place their trust in government
May 03, 2019 (LBO) – Prime Minister Ranil Wickremesinghe urges the business community to place their trust in the government and says steps have been taken to resolve the current situation as early as possible and ensure the smooth flow of economic activity. A delegation of the Ceylon Chamber of Commerce led by Chairman Rajendra Theagarajah […]
Ceylon Chamber proposes action points for reviving Sri Lanka
May 02, 2019 (LBO) – Ceylon Chamber of Commerce has proposed several action points for reviving the Nation following the acts of terrorism which occurred on Easter Sunday. Consequent to concerns discussed at its April meeting of the Chamber Committee, the Ceylon Chamber of Commerce has sought meetings with President and Prime Minister to discuss matters relating […]
LAUGFS officially inaugurates operations of S Asia’s largest LPG transshipment terminal
May 02, 2019 (LBO) – LAUGFS Terminals Ltd officially inaugurated operations of its LPG transshipment terminal at the Hambantota international Port. It is the largest of its kind in South Asia, with the first of its LPG cargo brought in by the Sri Lankan flagged vessel Gas Success, part of LAUGFS Maritime’s own LPG vessel fleet. […]
Finance Minister leads Sri Lankan delegation to 52nd AGM of ADB
Apr 30, 2019 (LBO) – Finance Minister Mangala Samaraweera will lead the Sri Lankan Delegation to the 52nd Annual Meeting of the Board of Governors of the Asian Development Bank to be held in Nadi, Fiji from 2nd to 5th May 2019.The Annual Meeting of the ADB Board of Governors provides opportunities for member governments […]
‘s housing market is gearing to meet economic, environmental and social challenges
Apr 30, 2019 (LBO) – Sri Lanka’s Landmark Group, a real estate development company bent on challenging traditional approaches to the island’s housing and property market says it is now gearing up to meet the economic, environmental and social challenges facing the industry. The real estate company is run by leading businesswoman Neelangani Hapangama and managed by […]
Central Bank wants to reduce lending rates to SMEs by 200 bps in near term
Apr 29, 2019 (LBO) – Sri Lanka’s Central Bank expects the lending rates to reduce by around 200 basis points to SMEs in the near term that would reduce excessive cost of funds borne by the financial sector. The Central Bank said it observed high interest rates charged on lending products and excessively high interest rates […]
Millennium Challenge Corporation approves biggest grant ever received by Sri Lanka
Apr 26, 2019 (LBO) – The Millennium Challenge Corporation of the US Government has approved a grant of 480 million US dollars to Sri Lanka at its board meeting held on the 25th of April 2019 in Washington D.C. subject to Congressional Notification. On the request of the Prime Minister Ranil Wickremesinghe, the MCC has done […]
Central Bank presents annual report to Finance Minister; 2018 growth 3.2-pct
Apr 25, 2019 (LBO) – The sixty-ninth Annual Report of the Monetary Board of the Central Bank of Sri Lanka was presented to Mangala Samaraweera, the Minister of Finance, by Dr. Indrajit Coomaraswamy, the Governor of the Central Bank. According to the report, the real GDP growth was recorded at 3.2 percent in 2018, compared […]