Sri Lanka’s exports decreased by 8-pct to USD 1Bn in Feb 2023 compared to Feb 2022
Sri Lanka’s merchandise exports decreased by 8.06 % to US$ 1,005.2 Million in February 2023 compared to February 2022 as per the data released by Sri Lanka …
Economy & Markets
Govt increasing tax burden on poor and working people on IMF conditions but not taxing capitalists: Eran
Oppositions MP Eran Wikramaratne has alleged that there is a bizarre situation in the implementation of the agreement with the International Monetary Fund, as …
Sri Lanka to announce parameters of external & domestic debt operations before end-April
Sri Lankan authorities are currently exploring options for a domestic debt operation which is aimed at providing substantial liquidity relief to the …
People’s Bank of China to consider renewing swap arrangement with CBSL for another 3 years: report
People's Bank of China (PBoC) has indicated that it will consider renewing its swap arrangement with the CBSL in 2024 for another three years if there is no …
Ceylon Chamber congratulates Govt on securing IMF Program; stresses continued implementation of reforms
The Ceylon Chamber of Commerce congratulates the Government on securing the Extended Fund Facility (EFF) with the IMF. Full Statement We appreciate the efforts …
Wealth transfer tax & inheritance tax to be introduced in Sri Lanka
To reach a primary fiscal surplus of 2.3 percent of GDP by 2025, Sri Lanka will revamp the property tax system and introduce a wealth transfer tax. In …
IMF starts an in-depth governance diagnostic exercise on Sri Lanka, a first in Asia
The IMF is conducting an in-depth governance diagnostic exercise, which will assess corruption and governance vulnerabilities in Sri Lanka and provide …
IMF Executive Board Approves USD3 Bn Under the Extended Fund Facility (EFF) Arrangement
The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an …
Opinion: IMF Programme #17, Takes two to tango
By Daniel Alphonsus Countries never learn from others’ mistakes, they only learn from their own. Sri Lanka is an exception: we don’t even learn from our …
Ceylinco Life retains market leadership for 19th consecutive year in 2022
Ceylinco Life policyholders received a mammoth Rs 18.9 billion in net claims and benefits in 2022, as the Company achieved its 19th consecutive year of market …
Sri Lanka records 7.8-pct negative growth for 2022
The Department of Census and Statistics (DCS) states that the year-on-year GDP growth rate for the year 2022 has been estimated as a 7.8 percent negative …
Eran urges Govt to disclose contents in IMF agreement
Even though the present government said no, the Samagi Jana Balawega emphasized from the beginning that this country needs some sort of agreement and financial …
First Capital maintains domestic debt restructuring probability low at 20-pct
First Capital maintains the domestic debt restructuring (DDR) probability at 20%, highlighting that the domestic debt restructuring probabilities stand low for …
World Bank Group invites public to provide feedback for new country partnership framework
The World Bank Group (WBG) is preparing its new partnership framework with Sri Lanka for the 2023–2026 period. The process involves consultations with a …
Opinion: HNB reiterates importance of developing a national savings culture
HNB Deputy General Manager - Retail and SME Banking, Sanjay Wijemanne As more Sri Lankans face concerns over their personal financial security, and that of the …
Local-Currency IDR would be downgraded if govt announces plans to restructure or defaults on local debt: Fitch
The Long-Term Local-Currency IDR would be further downgraded if the government announces plans to restructure or defaults on its local-currency debt, says …
Sri Lanka’s Probable IMF Support Deal Positive for Debt Negotiations: Fitch Ratings
Fitch Ratings believes Sri Lanka is likely to secure financing support from the IMF after the fund’s Executive Board set a date of 20 March to review the …
Chinese Exim Bank provides financial assurance to Sri Lanka through embassy handover
The Deputy Ambassador of the Chinese Embassy in Colombo Hu Wei officially presented the financial assurance letter issued by the Exim Bank of China to Mahinda …
Fitch maintains Capital Alliance Investment Grade Fund on Rating Watch Negative
Fitch Ratings has maintained Capital Alliance Investment Grade Fund's National Fund Credit Quality Rating of 'Af(lka)' and National Fund Market Risk …
We sent Letter of Intent to IMF; expecting a reply before end of this month: President
The island nation is expecting the go-ahead from the Executive Board of the IMF for its Extended Fund Facility arrangement before the end of this month. …