Category: Economy and Markets
IMF Reaches Staff-Level Agreement on Fourth Review under EFF with Sri Lanka; Global Trade Policy Uncertainty Poses Risks
IMF staff and the Sri Lankan authorities have reached staff-level agreement on economic policies to conclude the Fourth 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$344 million in financing. Program performance remains […]
Pilot Project Launched in Southern Province to Strengthen Regional Contribution to Export Development
A strategic discussion aimed at enhancing the contribution of provincial export development was held on 22nd April 2025 under the patronage of Hon. Sunil Handunnetti, Minister of Industry and Entrepreneurship Development, at the Matara District Secretariat. The event marked the initiation of a pilot project in the Southern Province, designed to develop and implement a […]
CSE Launches XBRL System to Enhance Financial Reporting for Listed Companies
The Colombo Stock Exchange (CSE), in collaboration with the Securities and Exchange Commission of Sri Lanka (SEC) and the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), has embarked on a significant initiative to introduce the eXtensible Business Reporting Language (XBRL) for listed entities in Sri Lanka. This move is expected to transform […]
‘s Q1 2025 Exports Surge by 5.87-pct, Reaching USS 4.21 Bn
Sri Lanka has demonstrated remarkable resilience and growth in its export sector during the first quarter of 2025, with total exports reaching US$ 4,212.13 Mn, reflecting a robust 5.87% growth compared to the same period last year. March 2025 proved particularly successful with total exports, including both merchandise and services, reaching US$ 1,507.90 Mn. This […]
SL Economy Outpaces Growth Projections, More Efforts Needed to Reduce Poverty, Boost Growth: WB
Sri Lanka’s economy has made a remarkable recovery in 2024, surpassing growth expectations by recording 5 percent growth, compared to the projected 4.4 percent, says the World Bank. This growth has been driven by strong performances in industry and services, particularly in construction and tourism-related services. In 2025, growth is expected to moderate to 3.5 […]
Wealthy Minds Social media platform: Caution issued by the SEC
Type of enforcement action Caution 04th April 2025 Name of Party Wealthy Minds Academy (Private) Limited and its two (2) Directors: 1. Mr. Rajapaksha Dunuge Kavinda Harith Rajapaksha 2. Mr. W. L. P. Thisura Wishwa Prabathiya Wijesinghe Conduct and outcome The Commission issued Notices of Caution to this Company and its two Directors for their reckless […]
IMF staff team concludes visit to SL; discussions to continue toward reaching an agreement in near term
An International Monetary Fund (IMF) team led by Evan Papageorgiou visited Colombo from April 3 to 11, 2025. After constructive discussions in Colombo, Mr. Papageorgiou issued the following statement: “Sri Lanka’s ambitious reform agenda supported by the IMF Extended Fund Facility (EFF) continues to deliver commendable outcomes. The post-crisis growth rebound of 5 percent in […]
Sri Lanka’s growth recovery exceeded expectations but remains fragile
The Asian Development Bank’s (ADB) flagship economic publication, the Asian Development Outlook (ADO) April 2025, forecasts Sri Lanka’s recovery to continue at a moderate growth of 3.9% in 2025 and 3.4% in 2026 following the strong rebound in 2024. Economic recovery that began in the second half of 2023 continued across all sectors in 2024. Inflation […]
Sri Lanka launches the new National Anti-Corruption action plan
The Commission to Investigate Allegations of Bribery and Corruption (CIABOC) has officially launched the National Anti-Corruption Action Plan (NACAP) 2025-2029 today, as a strategic initiative to reaffirm the country’s commitment to strengthening governance, enhancing transparency, and reinforcing the rule of law. CIABOC led the development of the NACAP, supported by the technical expertise of the […]
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Frontier markets such as Sri Lanka, Pakistan (Caa2 positive) and Bangladesh, which do not have the capacity to import as much from the US and whose current account balances are relatively fragile, could see a worsening of their broader external positions that will potentially weigh further on the outlook for economic growth, according to the […]
Major Currencies Strengthen Against US Dollar Despite Tariffs: Fitch Ratings
The currencies of most major economies have appreciated against the US dollar since the start of 2025, despite the massive jump in US tariffs, Fitch Ratings says in its new FX Market Monitor. Developed market currencies (except Australia) have appreciated by an (unweighted) average of 4.5% since end-2024. Market participants’ concerns about the adverse impacts […]
CEAT’s share in Sri Lanka’s Original Equipment tyre market tops 90-pct
Six years after it entered into its first Original Equipment Manufacturer (OEM) partnership in Sri Lanka, CEAT Kelani Holdings has grown into a significant contributor of value addition to the country’s burgeoning automobile assembly industry. Locally-manufactured CEAT tyres are now original equipment in 11 brands of vehicles rolling off assembly lines in Sri Lanka, ranging […]