CBSL raises policy rates by 50bps; urges banks to swiftly increase deposit interest rates
Sri Lanka’s Central Bank has decided to adopt several policy measures with a view to strengthening macroeconomic stability. Accordingly, in consideration …
Economy & Markets
Sri Lanka pays USD 500mn sovereign bond matured today: CB Governor
The Governor of Sri Lanka’s Central Bank Ajith Nivard Cabraal states that Sri Lanka has paid the USD 500 million sovereign bond that matured today (18). …
Fitch Downgrades Sri Lanka’s Long Term Foreign Currency IDR to ‘CC’
Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’. Fitch …
Sri Lanka’s Sovereign Foreign Debt: To Restructure or Not?
By Dr. Dushni Weerakoon: Sovereign debt restructuring can be pre-emptive or post-default. A default is inherently costly as it can result in a sustained loss …
S&P downgrades Sri Lanka; Central Bank disputes
Sri Lanka’s Central Bank says that S&P’s assessment to downgrade the rating has clearly failed to recognise the recent progress made by the …
Opinion: Repay foreign debt or finance essential imports
By Chair of our Academic Programme and former Economic Adviser at the World Bank, Dr. Sarath Rajapatirana, and our Senior Research Fellow, and former Director …
ADB is ready to provide funds to restructure several SOEs in Sri Lanka, VP informs President
Asian Development Bank (ADB) Vice President Shixin Chen stated that the Bank is ready to provide funds to restructure several state-owned enterprises. Vice …
Reduction of gold holdings part of reserve management, clarifies Central Bank
Sri Lanka’s Central Bank says that the changes in the composition of official reserves are in accordance with the current reserve management needs and …
Relief package supports SL economic recovery but compounds govt’s fiscal challenge: Moody’s
The fiscal relief package recently introduced in Sri Lanka reduces the scope for fiscal and debt consolidation at a time when fiscal flexibility is already …
Not mandatory for worker remittances to convert into LKR; CBSL asks banks to strictly adhere to rules
Central Bank emphasizes that it is not mandatory for Sri Lankans working abroad to convert their remittances into LKR and migrant workers who channel their …
Gold reserves down by 54-pct in December; USD 3.1bn reserves include Chinese swap: CBSL
Sri Lanka’s official reserve assets were 3.1 billion US dollars (USD 3,137.6 mn) by the end of December, up from 1.6 billion US dollars in November, the …
Daraz reinvents: A new perspective for SL’s e-commerce
Daraz is entering a new phase of its journey towards creating exceptional user experiences and developing a digitized ecosystem. Embarking on an exciting …
National single window: Paving way for paperless trade
By Mithara Fonseka and Kavishka Indraratna In 2016, Sri Lanka ratified its Trade Facilitation Agreement (TFA) with the WTO and in 2017 a Secretariat was …
15-pct food price increase in a single month; Advocata
Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of food, recorded an increase of 15% from November 2021 to …
Special Investment Zone for South Korea Proposed by Sri Lanka’s Foreign Minister
Trade and investment, political cooperation, defense initiatives, tourism and labour issues dominated …
Opinion: Government heavy-handedness to blame for our currency woes
By Vinuja Singharachchige: Much is being said nowadays about the pressures the Sri Lankan Rupee is facing, but it is important that we understand the mechanics …
Sri Lanka’s Finance Minister introduces relief package
Finance Minister Basil Rajapaksa on Monday announced a relief package for different sectors in Sri Lanka. Complete Cabinet Decision: 2022 Economy and Outlook …
Opinion: ‘Sri Lankan State-Owned Enterprises: A Major Crisis in the Making’
written by Migara Rodrigo Sri Lanka has a whopping 527 state-owned enterprises[1] (SOEs). The 55 SOEs classified as “strategically important” alone employ …
Central Bank revises maximum interest rates on foreign currency deposits
The Monetary Board has issued an order on maximum interest rates to be paid in respect of foreign currency deposit products of licensed commercial banks and …
Sri Lanka’s official reserves position has reached around USD 3.1bn: Central Bank
Sri Lanka’s Central Bank says that with the receipt of recent inflows, the official reserves position has now reached around US dollars 3.1 billion, and …