Category: Economy and Markets
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 […]
CA Sri Lanka submits comprehensive National Budget 2026 proposals
In a significant move underscoring its commitment to national fiscal stability and economic growth, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) formally presented its strategic proposals for the forthcoming National Budget 2026 to the Government. The proposal was made to Dr Harshana Suriyapperuma, Secretary to the Ministry of Finance, further solidifying […]
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Fitch Ratings has assigned Sri Lanka-based Hayleys Fentons Limited (HFL) a National Long-Term Rating of A+(lka). The Outlook is Stable. The rating reflects HFL’s leading market share in domestic rooftop solar panel sales and installation, which drove cash flow in the financial year ending March 2025 (FY25), alongside slowing growth amid regulatory risks. Diversification into […]
JAAF stresses need for proven VAT refund system to safeguard export stability post-SVAT
The Joint Apparel Association Forum (JAAF) today reaffirmed its commitment to working with government authorities as Sri Lanka prepares to remove the Simplified Value Added Tax (SVAT) scheme on 1st October. While emphasising that the removal of SVAT is now inevitable, JAAF noted that the industry has been in continuous dialogue with policymakers on the […]
Colombo Stock Exchange revises Transaction Fees for Corporate Debt Securities
The Colombo Stock Exchange (CSE) announced a revision to the transaction fees applicable to Corporate Debt Securities traded on its Automated Trading System (ATS) following approval from the Department of Fiscal Policy of the Ministry of Finance. The approval, conveyed through the Securities and Exchange Commission of Sri Lanka (SEC), allows for a reduction in […]
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 […]
Central Bank of Sri Lanka keeps Overnight Policy Rate unchanged
The Monetary Policy Board decided to maintain the Overnight Policy Rate (OPR) at the current level of 7.75% at its meeting held yesterday. The Board arrived at this decision after carefully considering both domestic and global developments. The Board is of the view that the current monetary policy stance will support steering inflation towards the […]
HNB felicitates employees who completed 25 years of service
Sri Lanka’s leading private sector bank, HNB PLC organized a ceremony recently to felicitate their employees who completed 25 years of service at the Bank. HNB organized a gala event to recognize 160 employees who had joined in 1999/2000. This highly anticipated event was attended by HNB Managing Director and CEO Damith Pallewatte, SVP/Chief Human […]
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 […]
New Rs. 2000 Note to Be Accepted in Banks After Cash-handling Machine Calibration: CBSL
The Central Bank of Sri Lanka (CBSL) issued a Rs. 2000 circulated commemorative currency note on 29 August 2025 to mark its 75th Anniversary. In order to facilitate the smooth acceptance and dispensation of the new note, Licensed Commercial Banks are in the process of calibrating their cash-handling machines. In keeping with the pace of […]
TikTok launches dedicated STEM Feed in Sri Lanka with Govt support
TikTok, with the support of the Government of Sri Lanka, today announced the launch of a dedicated STEM Feed in the country, creating a new in-app destination for credible science, technology, engineering and mathematics content. This initiative signals a new era where TikTok, together with the Government and its vibrant Sri Lankan community, will come […]