Category: Policy
Opinion: Cigarette smuggling in Sri Lanka, Hype vs. Reality
By Harini Weerasekera In the run up to elections, Sri Lanka is once again witnessing various news activities highlighting how the government is losing revenue due to increased consumption of illicit cigarettes and beedi. However, the wider government policy on tobacco control is aimed to reduce smoking rates and the related direct and indirect costs […]
Sri Lanka official reserves at USD7.6bn by Sept; YTD rupee appreciation 1.3-pct
Oct 11, 2019 (LBO) – Sri Lanka’s gross official reserves were 7.6 billion US dollars by end September, down from 8.5 billion US dollars in August, latest Central Bank data showed. Gross official reserves in September provide an import cover of 4.5 months. Meanwhile, the Sri Lankan rupee remains appreciated against the US dollar by […]
Sri Lanka CB maintains policy rates unchanged
Oct 11, 2019 (LBO) – Sri Lanka’s Monetary Board has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 7.00 percent and 8.00 percent, respectively. The Board arrived at this decision following a careful analysis of current and expected […]
Sri Lankan bank lending rate cap may not support loan growth : Fitch
Oct 07, 2019 (LBO) – The lending rate cap recently imposed by the Central Bank of Sri Lanka (CBSL) on rupee-denominated loans extended by Sri Lankan banks may not improve loan growth in the short term, Fitch Ratings says. To the extent banks cannot price for risk in order to make hurdle rates of return, […]
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 […]
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 […]
“Sri Lankan Airlines is a vanity we cannot afford,” Fin Min says
Sep 17, 2019 (LBO) – Sri Lanka’s Finance Minister, Mangala Samaraweera says State Owned Enterprises (SOE) management has become political rather than professional, resulting in waste and corruption. “For example, my personal view is that Sri Lankan Airlines is a vanity we cannot afford,” the Minister said while addressing the Ceylon Chamber of Commerce Economic […]
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, […]
‘s credit profile reflects ongoing liquidity &’s
Aug 30, 2019 (LBO) – Moody’s Investors Service says in a new report that the credit profile of Sri Lanka (B2 stable) reflects ongoing government liquidity and external vulnerability risks. Key credit challenges include large borrowing requirements, with a high reliance on external funding, and low foreign exchange reserves coverage of forthcoming economy-wide external debt […]
Sri Lanka eco summit to discuss SOE reform implementation weaknesses
Aug 26, 2019 (LBO) – Sri Lanka’s State-Owned Enterprises (SOEs) has been the topic of debate for many years now. Discussions around it have covered improving profitability, service and governance while examining the root causes for the continued losses incurred by SOEs. Some of the solutions for reforms are well known, but its implementation has […]
Sri Lanka vehicle registrations rebound in July 2019
Aug 26, 2019 (LBO) – Sri Lanka’s vehicle registrations saw a rebound across the board in July from the lows of June since, limping back to normalcy post Easter Sunday bombings. Total motor cars recorded 2,584 units in July significantly up from 1,580 units in June but significantly down from 7,162 units 12 months ago. […]