Category: Economy

Sri Lanka started a push for budget support loans while presenting an economic plan to donors at the development forum last week in Kandy.Sri Lanka started a push for budget support loans while presenting an economic plan to donors at the development forum last week in Kandy. The push came as the president gave an […]

Last week’s Development Forum discussed challenges faced by the economy and governments policy to deal with them. Last week’s Development Forum discussed challenges faced by the economy and governments policy to deal with them. Donors were encouraging the government to setup a mechanism to deliver Tsunami aid to Northeastern areas including those controlled by the […]

An uneasy calm gripped Sri Lanka’s troubled port city of Trincomalee as Buddhists Monday celebrated a key anniversary amid protests over a Buddha statue in the region, police and residents said.An uneasy calm gripped Sri Lanka’s troubled port city of Trincomalee as Buddhists Monday celebrated a key anniversary amid protests over a Buddha statue in […]

International lenders downgraded Sri Lanka’s economic growth forecasts for this year after tsunamis devastated its coastline, but the island is banking on a flood of foreign aid to keep its head above the water. International lenders downgraded Sri Lanka’s economic growth forecasts for this year after tsunamis devastated its coastline, but the island is banking […]

A Tamil political party on Sunday suspended a strike in the Sri Lankan port city of Trincomalee to protest the erection of a large statue of Buddha.A Tamil political party on Sunday suspended a strike in the Sri Lankan port city of Trincomalee to protest the erection of a large statue of Buddha. The Tamil […]

Exports recorded zero growth in March, with exports of textile and apparel reducing by 5.3 percent compared to a 11.9 percent increase in January and February.Exports recorded zero growth in March, with exports of textile and apparel reducing by 5.3 percent compared to a 11.9 percent increase in January and February. “Export earnings in March […]

The proposed joint mechanism will not fund LTTE military activity and will not marginalize minorities, says Jayantha Dhanapala, the head of the Peace Secretariat.The proposed joint mechanism will not fund LTTE military activity and will not marginalize minorities, says Jayantha Dhanapala, the head of the Peace Secretariat. “The yanthranaya (mechanism) has been turned into a […]

The influx of aid since December’s tsunami disaster will lift Sri Lanka’s balance of payments into the black this year, the central bank said Friday.The influx of aid since December’s tsunami disaster will lift Sri Lanka’s balance of payments into the black this year, the central bank said Friday. Sri Lanka’s overall balance of payments […]

Inhabitants of the Southern Sri Lankan town of Galle ran away from the coast in panic fearing another tsunami, after high seas drenched part of the market area, residents said.Inhabitants of the Southern Sri Lankan town of Galle ran away from the coast in panic fearing another tsunami, after high seas drenched part of the […]

An increased foreign aid offer of three billion dollars for Sri Lanka’s tsunami recovery is mainly aimed at pushing Colombo and Tamil Tiger rebels to salvage their peace talks, diplomats said Wednesday.An increased foreign aid offer of three billion dollars for Sri Lanka’s tsunami recovery is mainly aimed at pushing Colombo and Tamil Tiger rebels […]

Japan on Tuesday confirmed Sri Lanka’s calls to postpone up to US$ 220 mn in loans owed to the East Asian development partner this year.Japan on Tuesday confirmed Sri Lanka’s calls to postpone up to US$ 220 mn in loans owed to the East Asian development partner this year. The total US$ 225 mn debt […]

The Agriculture Ministry say over 140,000 farming families in Sri Lanka are landless, with not even a few perches to build a house.The Agriculture Ministry say over 140,000 farming families in Sri Lanka are landless, with not even a few perches to build a house. A new initiative hopes to distribute a minimum 6 perches […]