Category: Economy and Markets
Sri Lanka needs international donor support for next two years to meet post-tsunami costs, IMF
Sri Lanka will be forced to depend on international support for the next two years, as a US$ 1.8 bn post-tsunami reconstruction bill puts a strain on balance of payments and the budget, the IMF said late Friday.Sri Lanka will be forced to depend on international support for the next two years, as a US$ […]
New set of guidelines for duty concessions – valid until April 24 – for tsunami relief items
The government announced a new set of guidelines for duty concessions – valid until April 24 – for tsunami relief items on Friday.The government announced a new set of guidelines for duty concessions – valid until April 24 – for tsunami relief items on Friday. However, to protect domestic rice producers that are now harvesting […]
Euro 100 mn tsunami aid from the EU to come in by mid this year
The first instalment of Euro 100 mn tsunami aid from the European Union is to come in by mid this year, to help people get back to work.The first instalment of Euro 100 mn tsunami aid from the European Union is to come in by mid this year, to help people get back to work. […]
Sri Lanka puts a three month moratorium on short term interest rates
Sri Lanka opts not to tinker with its key short-term interest rates for the next three months as authorities plan to tame galloping inflation during the second half of this year, Treasury Secretary said.Sri Lanka opts not to tinker with its key short-term interest rates for the next three months as authorities plan to tame […]
Sri Lanka party to Paris Declaration on effective use of foreign aid
Sri Lanka become party to yet another international declaration on Wednesday – this time on the effective use of foreign aid.Sri Lanka become party to yet another international declaration on Wednesday – this time on the effective use of foreign aid. The Paris Declaration on Aid Effectiveness agrees to take “far reaching and monitorable action” […]
Asylum seekers at an all time low says UN
The number of refugees seeking shelter in industrialised countries fell to its lowest in 16 years in 2004, says the United Nations.The number of refugees seeking shelter in industrialised countries fell to its lowest in 16 years in 2004, says the United Nations. “The number of asylum seekers arriving in industrialized countries fell sharply for […]
Violence escalates as Norway fails in bid to end Sri Lanka peace deadlock
Sri Lanka Tuesday investigated escalating violence as a top Norwegian envoy ended another mission without a breakthrough in restarting peace talks between Tiger rebels and the government, officials said.Sri Lanka Tuesday investigated escalating violence as a top Norwegian envoy ended another mission without a breakthrough in restarting peace talks between Tiger rebels and the government, […]
Sri Lanka’s 2004 trade deficit widens by US$ 677 mn, dragged down by a 44% jump in oil import bill
Sri Lanka’s trade deficit ended 2004 on a hard bump, widening by US$ 677 mn, as a hefty petroleum import bill cost the cashed starved treasury an extra US$ 372 mn, the Central Bank said Monday.Sri Lanka’s trade deficit ended 2004 on a hard bump, widening by US$ 677 mn, as a hefty petroleum import […]
Tsunami aid flows drying up?
Two months after the tsunami the United Nations (UN) says rehabilitation aid from the international community is slowing down.Two months after the tsunami the United Nations (UN) says rehabilitation aid from the international community is slowing down. The UN reports that although aid pledges from the rest of the world to rehabilitate tsunami wrecked countries […]
‘s 2004 trade deficit widens by US$ 677 mn, dragged down by a 44% jump in oil import bill
Sri Lanka’s trade deficit ended 2004 on a hard bump, widening by US$ 677 mn, as a hefty petroleum import bill cost the cashed starved treasury an extra US$ 372 mn, the Central Bank said Monday.Sri Lanka’s trade deficit ended 2004 on a hard bump, widening by US$ 677 mn, as a hefty petroleum import […]
A trade deal with Pakistan and the tsunami could spur foreign investment to US$ 400 mn levels this year.
Trade agreements with Pakistan and India could spur foreign investment this year, largely in the manufacturing sector, the Board of Investment says.Trade agreements with Pakistan and India could spur foreign investment this year, largely in the manufacturing sector, the Board of Investment says. “There are two main things that will guide investments this year – […]
Sri Lanka not fighting rising prices
When Sri Lankan inflation soared to double digits last year, the country’s central bank waited for months before tightening policy, leading observers to wonder if it has abandoned its commitment to keep prices low.When Sri Lankan inflation soared to double digits last year, the country’s central bank waited for months before tightening policy, leading observers […]