Category: Economy
‘s Extended Fund Facility
Sep 25, 2019 (LBO) – International Monetary Fund (IMF) says that the Sri Lankan authorities are taking steps to complete all the pending actions and structural benchmarks for the sixth review of Sri Lanka’s Extended Fund Facility (EFF) over the next few weeks. A staff team from the IMF led by Manuela Goretti visited Colombo […]
Sri Lanka headline inflation increased in August; core inflation declined
Sep 24, 2019 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index increased to 3.4 percent in August from 2.2 percent in July 2019. The Central Bank said the low base that prevailed in the corresponding month of the previous year and the monthly increases of […]
Global financial assets fall, SL economy slows: Report
Sep 20, 2019 (LBO) – Allianz’s Global Wealth Report, which puts the asset and debt situation of households in more than 50 countries/regions under the microscope says financial assets in 2018 across industrial and emerging countries/regions declined simultaneously for the first time. Savers worldwide have found themselves in a bind, due to the escalating trade […]
Resilient Sri Lanka reports positive GDP growth despite Easter Sunday terror attacks
September 19, 2019 (LBO) – Sri Lanka has reported GDP growth of 1.6% in the second quarter ended June 30, 2019. This positive growth has been reported despite the country’s tourist industry being virtually shut down after the Easter Sunday terror attacks. The Sri Lankan economy has been able to absorb serious shocks in the […]
Sri Lanka GDP growth 1.6-pct in Q2
Sep 19, 2019 (LBO) – Sri Lanka’s Gross Domestic Product (GDP) growth rate for the second quarter of 2019 has been estimated as 1.6 percent, a new report said. The GDP for the second quarter of 2019 at current price and constant (2010) price have reached up to 3,620,736 million rupees and 2,315,995 million rupees […]
PM’s says economy stabilizing: looking at leapfrog growth trajectory
Sep 18, 2019 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe says the government’s plans to put the island on a leapfrog trajectory to growth so that it can become the first advanced economy in South Asia. “We are now an upper-middle income country and do we want to stagnate in the middle-income trap or […]
‘s action plan targets USD134Bn economy in Sri Lanka by 2025
Sep 18, 2019 (LBO) – The Ceylon Chamber of Commerce on Tuesday launched the working draft of the 2020 – 25 Economic Acceleration Framework at the Sri Lanka Economic Summit. Sri Lanka is currently at a pivotal juncture where the country’s economic, social, and political trajectory is concerned. The framework is a collective aspiration and […]
Sri Lanka’s Economic Summit 2019 Opens Today
Sep 17, 2019 (LBO) – The Sri Lanka Economic Summit (SLES) 2019 themed on Re-calibrating Sri Lanka’s Economic Trajectory Towards 2025, to guide Sri Lanka’s journey towards development and prosperity will get underway at the Cinnamon Grand Colombo, today. The two-day event brings together over 450 local and international participants consisting of prominent business leaders, […]
Sri Lanka reduces fuel prices
Sep 11, 2019 (LBO) – Sri Lanka’s government has decided to reduce the petrol and diesel prices with effect from mid-night, yesterday the Finance Ministry said issuing a statement. Accordingly, petrol (octane 92) per litre will be decreased by Rs. 1 and making it Rs. 137; petrol (octane 95) will be sold at Rs. 161, […]
Driving growth in uncertain times tops agenda at Oxford Business Group roundtable
Sep 10, 2019 (LBO) – The steps that Sri Lanka could take to harness digital innovations and mitigate the impact on its economy of domestic political disruption and global trade uncertainty were among the subjects explored recently at a roundtable organised by the global publishing, research and advisory firm Oxford Business Group (OBG). Titled ‘How […]
Sri Lanka calls for proposals to appoint arrangers for JPY 60bn Samurai bond
Sep 09, 2019 (LBO) – Sri Lanka’s Central Bank on behalf of the government has invited proposals from banks and investment houses for consideration to be appointed as Joint Lead Arrangers for the proposed Samurai bond issuance. The government intends to issue a bond up to about 60 billion Japanese yen in a benchmark size […]
No collateral needed to obtain enterprise loans up to 1.5 mn from state banks: Mangala
Sep 08, 2019 (LBO) – Sri Lanka’s Finance Minister Mangala Samaraweera who is in Jaffna held a series of meetings under the enterprise Sri Lanka Exhibition. In the morning, he met the members of war widows and small and medium entrepreneurs associations at the Jaffna Kachcheri and held a separate meeting with the Ex-combatants. Secretary […]