Category: Economy
“Exporters optimistic about new market opportunities” new USAID survey
Jun 19, 2020 (LBO) – “Sri Lankan exporters are cautiously optimistic about business continuity amidst a global pandemic,” reveals the findings of a new business survey conducted by the Ceylon Chamber of Commerce (CCC) and the United States Agency for International Development (USAID). A significant number of the firms surveyed had identified new business opportunities […]
Developing Asia to grow just 0.1-pct in 2020:ADB
Jun 19, 2020 (LBO) – Developing Asia will barely grow in 2020 as containment measures to address the coronavirus disease (COVID-19) pandemic hamper economic activity and weaken external demand, according to a new set of forecasts from the Asian Development Bank (ADB). In a regular supplement to its annual flagship economic publication, the Asian Development Outlook (ADO) 2020 released in […]
Central Bank increases funding for businesses affected by COVID-19
Jun 16, 2020 (LBO) – Central Bank has decided to provide funding to Licensed Commercial Banks (LCBs) at the concessionary rate of 1.00 percent against the pledge of a broad spectrum of collateral, on the condition that LCBs, in turn, will on-lend to domestic businesses at 4.00 percent. According to the Central Bank, this is […]
‘s Central Bank further reduces Statutory Reserve Ratio
Jun 16, 2020 (LBO) – The Monetary Board of the Central Bank has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks (LCBs) by 200 basis points to 2.00 percent, with effect from the reserve maintenance period that commenced on 16 June 2020. According to the […]
‘ stresses: Fitch Ratings
Jun 16, 2020 (LBO) – Sri Lankan banks’ operating environment and financial profiles ace escalating risks from the economic fallout of the coronavirus. Fitch Ratings now expects Sri Lanka’s real GDP to contract by 1.3% in 2020, worsening from our earlier forecast of a 1.0% contraction published 24 April 2020 due to the pandemic. Deterioration […]
SEC Chairman calls on Central Bank Governor
Jun 14, 2020 (LBO) – The Chairman of the Securities and Exchange Commission (SEC) Viraj Dayaratne PC, paid a courtesy call on Professor W.D. Lakshman, Governor of the Central Bank recently. He was accompanied by Director-General of the SEC, Chinthaka Mendis. This meeting provided an opportunity for the Governor and the Chairman to share and […]
Housing for middle and low income families a priority: President
Jun 12, 2020 (LBO) – President Gotabaya Rajapaksa instructed the officials of the State Development and Construction Corporation to pay attention to the construction of housing schemes for middle and low income families. President gave this directive at a meeting to review the progress of the State Development and Construction Corporation held at the Presidential […]
Foreign Ministry helps local exporters overcome adverse impact of COVID 19
Jun 12, 2020 (LBO) – Comprehensive measures taken by the Ministry of Foreign Relations, in close coordination with the key Government Economic Agencies and the private sector to address and mitigate the impact of COVID 19 particularly on Sri Lankan exports, has helped in sustaining and regaining lost markets for traditional Sri Lankan exports, while […]
Technical assistance grant of Euro 11 mn from Germany
Jun 10, 2020 (LBO) – An agreement was signed by the Government of Sri Lanka with the Government of Germany today to obtain a technical assistance grant of Euro 11 million to implement three projects. Vocational Training in Sri Lanka – Euro 7 million: This Project aims at providing demand-oriented cooperative vocational training for young […]
President wants quick solutions to fertilizer related issues
Jun 10, 2020 (LBO) – President Gotabaya Rajapaksa instructed officials to find immediate solutions to issues faced by farmers relating to the supply, distribution and use of fertilizer. The issue of fertilizer is a common occurrence in many districts when cultivation starts. Short, medium and long term solutions should be found to address the issue, […]
Verite Research launches the first phase of a new public finance platform
Jun 09, 2020 (LBO) – Verité Research launched the first phase of publicfinance.lk, an online platform that will eventually be a one-stop-shop for all public finance related information in Sri Lanka. The beta version features initial insights and analyses on four key areas of public finance: debt, expenditure, financing and revenue. PublicFinance.lk aims to enhance […]
All possible measures are taken to ensure safety of deposits: CB Governor
Jun 07, 2020 (LBO) – Sri Lanka’s Central Bank assures the general public that it will continue to take all possible measures to ensure the safety of public deposits. Releasing a statement, the Governor of the Central Bank Professor W.D. Lakshman said that they remain committed to keeping the deposits of the general public safe […]