Category: Economy
Sri Lanka to go to markets after IMF meetings
Feb 29, 2016 (LBO) – Sri Lanka may go to international markets to raise up to 1.5 billion dollars this year after gauging the outcome of meetings with the International Monetary Fund, a central bank official said. Sri Lanka will hold discussions with the IMF in March and April on a support facility for its […]
Sri Lanka’s megapolis plan a challenge, needs experts to make it successful
Feb 26, 2016 (LBO) – Sri Lanka’s Megapolis development project’s success depends on the establishment of a separate authority to govern the project while social change would also be a key, the president of the Chamber of Construction Industry said. “The Megapolis Authority with the right expertise is a must if this project is to […]
Sri Lanka no longer a poor country, discussions with IMF constructive: CB Governor
Feb 26, 2016 (LBO) – Sri Lanka is no longer a poor country, and must rely on markets for its funding needs, Central Bank Governor Arjuna Mahendran said. An endorsement of the IMF, in this regard, would be valuable, he added. “We have had very constructive discussions with the IMF,” Mahendran said. “The government and […]
Sri Lanka wants to maintain rates at current levels: CB Governor
Feb 25, 2016 (LBO) – Sri Lanka’s central bank governor hopes interest rates can be maintained at current levels, after a 50 basis point rate hike last week, but this will be determined by external factors, he said. The island’s policy rates are at 6.5 percent and 8 percent, while 10-year treasury bond yields have […]
Chamber welcomes ETCA; urges consultations with private sector
Feb 25, 2016 (LBO) – The Ceylon Chamber of Commerce has hailed the proposed Economic and Technology Cooperation Agreement (ETCA) with India, but has urged Systematic Consultations with the Private Sector. The chamber said in a statement that any bilateral or regional agreement that Sri Lanka forges must be supportive of the country’s holistic economic […]
ETCA can be a wake up call for Sri Lankans: professionals
Feb 25, 2016 (LBO) – Sri Lankan professionals say integration with India through the Economic and Technical Cooperation Agreement (ETCA) is a must for the islands future development. “Yes, ETCA is needed. We have labour problem and if Sri Lankans can’t do it and we don’t have the people then we have to bring them […]
Emerging markets offer long-term opportunity: Research Affiliates
Feb 25, 2016 (LBO) – Christopher Brightman, Research Affiliates’ Chief Investment Officer, says the exodus from emerging markets offers wonderful opportunity for opportunistic investors. Brightman shares market insights for global investment management firm PIMCO’s All Asset funds. PIMCO has 1.4 trillion dollars in assets under management, and their market insights can be read here. Q: […]
New salaries commission to review public, private salary structures
Feb 24, 2016 (LBO) – The cabinet has decided to appoint a new Salaries and Cadre Commission to broadly and formally review salary structures and cadre requirements with a view to creating a more effective and contented Public Service. The proposed commission which will comprise of learned and experienced officers is also to formulate a […]
‘t lose jobs
Feb 24, 2016 (LBO) – Sri Lanka is currently at the formulating stage of an “Economic Technology Cooperation Agreement” with India, Prime Minister Ranil Wickremesinghe said in Parliament Tuesday. This agreement will not lead to Sri Lankans losing jobs, he added. “We still haven’t seen India’s version. We have to put the two proposals together […]
Sri Lanka to get 100Mn loan from ADB for SME sector
Feb 23, 2016 (LBO) – Sri Lanka’s government signed a loan agreement with the Asian Development Bank (ADB) to borrow 100 million US dollars to implement a small and medium enterprise credit line project, the Finance Ministry said. “The project aims to increase the employment opportunities by strengthening the SME’s access to finance,” the Finance […]
Sri Lanka inflation NCPI decelerates 0.7-pct in Jan 2016
Feb 23, 2016 (LBO) – Sri Lanka’s consumer prices decelerated 0.7 percent in January from a year earlier, compared with a 4.2 percent rise in December, data from the state statistics office showed. In December, inflation rose at a slower pace as compared with November’s 4.8 percent, the new index with a base year of […]
Sri Lanka lending to increase to USD 2Bn by 2016: ADB President
Feb 23, 2016 (LBO) – Asian Development Bank said it will scale up lending to Sri Lanka to 2 billion US dollars in loans and equity in 2016 through 2018 compared to the 1.5 billion US dollars in the past three years. “ADB is re-orienting its operations to meet the evolving needs of Sri Lanka […]