Category: Economy
IMF Considers USD 200 Mn Emergency Aid for Cyclone-Hit Sri Lanka
International Monetary Fund (IMF) Mission Chief for Sri Lanka, Evan Papageorgiou, issued a statement today addressing the impact of Cyclone Ditwah and the resulting financial request from the Sri Lankan government. He began by extending the IMF’s sympathies to the population profoundly affected by the natural disaster: “In the wake of the devastating impact and […]
Sri Lanka’s Recovery After Cyclone Devastation
The International Monetary Fund (IMF) is actively investigating options to further support Sri Lanka in the recovery process following the devastating cyclone and widespread flooding. This commitment comes as the IMF continues to back Sri Lanka’s reform efforts under the Extended Fund Facility (EFF) arrangement. The IMF’s Director of Communications, Julie Kozack, conveyed the institution’s […]
Sri Lanka’s Export Earnings Exceed USD 14.4 Bn Mark in First Ten Months of 2025
Sri Lanka’s export sector has continued its strong upward trajectory, recording a significant 6.0 % growth during the period from January to October 2025. According to data released by Sri Lanka Customs, along with estimated figures for Gems & Jewellery and Petroleum Products, total exports reached US$ 14,433.82 Mn, surpassing the performance of the corresponding […]
ADB approves USD100 Mn to strengthen macroeconomic resilience, transparency in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million financing package to build on Sri Lanka’s progress toward macroeconomic stability and to help achieve sustainable growth following the economic crisis. This will be done by strengthening public expenditure management, improving revenue mobilization, and fostering private sector participation. “Sri Lanka has made commendable progress in […]
‘s Economic Stabilization by 2028, says IMF
The International Monetary Fund (IMF) has stressed that Sri Lanka must “stay the course” and complete its “own homegrown reform program” to fully stabilize its economy by 2028, signaling the crucial nature of domestic commitment to the country’s long-term financial health. Speaking at a recent press briefing, Thomas Helbling, Deputy Director of the Asia and […]
Export Sector Maintains Momentum, achieving nearly USD 13 Bn in earnings by Q3 2025
Sri Lanka’s export sector continued to demonstrate resilience and steady growth during the period of January to September of 2025, recording total earnings of US$ 12,986.52 Mn. This reflects a strong 7 % increase compared to the corresponding period in 2024. In September 2025 alone, total exports, comprising both merchandise and services reached to US$ […]
IMF Staff Reaches Staff-Level Agreement on the Fifth Review Under SL’s EFF Arrangement
IMF staff and the Sri Lankan authorities have reached staff-level agreement on economic policies to conclude the Fifth Review of Sri Lanka’s reform program supported by the IMF’s Extended Fund Facility. Once the review is approved by the IMF Executive Board, Sri Lanka will have access to about US$347 million in financing. The economic reforms […]
Sri Lanka’s Economic Recovery Remains Incomplete as Key Challenges Remain, says World Bank
Sri Lanka’s recent economic performance has been strong. Despite this, the recovery remains incomplete, with growth still below pre-crisis levels and poverty significantly elevated. Strengthening the recovery will require continued macroeconomic stability, urgent structural reforms, and more efficient, better-targeted public spending, says the World Bank. Released today, the latest Sri Lanka Development Update, Better Spending for […]
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FitchRatings has affirmed Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CCC+’. Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. A full list of rating actions is at the end of this Rating Action Commentary. Key Rating Drivers Ratings Affirmed: Sri Lanka’s ‘CCC+’ sovereign rating remains constrained by […]
Sri Lanka’s Export Earnings hit USD 11.6 Bn in January–August 2025
Sri Lanka’s export sector continued to demonstrate resilience and steady growth during the first eight months of 2025, recording total earnings of US$ 11,554.32 Mn. This reflects a strong 6.61% increase compared to the corresponding period in 2024. In August 2025 alone, total exports, comprising both merchandise and services reached to US$ 1,607.58 Mn, recording […]
World Bank Vice President Concludes First Official Visit to Sri Lanka
The World Bank’s Vice President for South Asia, Johannes Zutt, concluded his first official visit to Sri Lanka yesterday. During his two-day visit, he met with President Anura Kumara Dissanayake, Central Bank Governor Dr. Nandalal Weerasinghe, Secretary to the Treasury Dr. Harshana Suriyapperuma, and other senior officials. The visit built on World Bank Group (WBG) President […]
Sri Lanka Can Move to a More Balanced Fiscal Policy, Says World Bank Public Finance Review
Sri Lanka has made remarkable strides in stabilizing its economy, undertaking one of the largest fiscal adjustments in its history—equal to nearly 8 percent of GDP over three years. The adjustment was also sharper and faster by international standards – when compared with more than 330 similar efforts in 123 countries worldwide since 1980. A […]