Sri Lanka’s official reserves down to USD 1.94bn in March
Sri Lanka’s official reserve assets were 1.9 billion US dollars (USD 1,939mn) by the end of March, further down from 2.3 billion US dollars in February this …
Economy & Markets
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Presidential Advisory Group appointed to guide officials engaging with IMF
The President has appointed a team of eminent economic and fiscal experts as Members of the Presidential Advisory Group on Multilateral Engagement and Debt …
Bangladesh corporate sector ready to expand economic cooperation with Sri Lanka
Sri Lanka High Commissioner to Bangladesh said that profound historical and cultural relations have lasted between Sri Lanka and Bangladesh and it is time to …
ADB forecasts SL’s economic growth to dip to 2.4-pct in 2022
The Asian Development Bank’s (ADB) annual flagship economic publication forecasts a muted recovery from the coronavirus disease (COVID19) pandemic as Sri …
CA Sri Lanka calls upon all political parties to urgently appoint a team to negotiate with IMF
CA Sri Lanka urges the government, in consultation with all political parties, to formulate a plan, including engagement with the International Monetary Fund …
Ceylon Chamber gravely concerned about consequences of recent actions
The Ceylon Chamber of Commerce is gravely concerned about the far-reaching adverse consequences of certain actions being taken by the Government on economic …
IMF to initiate discussions with Sri Lanka for support & financial program in coming days
The International Monetary Fund will initiate discussions with Sri Lankan authorities for new support & financial program in the coming days, IMF …
Ceylon Chamber reiterates the need to fast-track the process of debt restructuring
The Ceylon Chamber of Commerce notes with serious concern the continuous deterioration in the fuel and electricity availability in the country, hampering daily …
Sri Lanka’s exports increased by 9.9-pct in February 2022
Sri Lanka’s merchandise exports increased by 9.91% to US$ 1,046 Million in February 2022 compared to February 2021 as per the data released by the Sri Lanka …
Sri Lanka’s debt is unsustainable with very high rollover risk: IMF Debt Sustainability Assessment
Based on IMF staff analysis, fiscal consolidation necessary to bring debt down to safe levels would require excessive adjustment over the coming years, …
Clarification Regarding the Forex Sales by Banks to the Central Bank
The Central Bank clarifies that the recent increase of the percentage of foreign exchange sales by banks to the CBSL from 25% to 50%, effective from …
From crisis to inclusive economic growth in Sri Lanka
By FARIS HADAD-ZERVOS, World Bank Country Director for Maldives, Nepal and Sri Lanka & HANS TIMMER , Chief Economist, South Asia, World Bank Sri Lanka …
Opinion: Introducing import licenses will worsen Sri Lanka’s economic crisis
Advocata Extraordinary Gazette No 2270/18 of March 2022, imposes import restrictions on 367 goods determined as “non-essential” by the Ministry of …
Advisory Committee proposes five urgent recommendations to National Economic Council
The Advisory Committee appointed to assist the National Economic Council has made five recommendations that need to be implemented immediately. The members of …
Proposed additional incentive scheme for workers’ remittances & exporters to be rescinded
Sri Lanka's government has decided not to implement the proposed scheme for additional incentives for remittances by expatriate workers and net earnings of …
President says no truth in the report that the CBSL Governor was asked to step down
With reference to news reports that CBSL Governor was asked to step down, President Gotabaya Rajapaksa today said, “The news stories that Central Bank …
Meeting held between President and IMF representatives
Several representatives of the International Monetary Fund (IMF) met President Gotabaya Rajapaksa at the Presidential Secretariat this morning (15). The IMF …
Cabinet approval to initiate discussions with IMF for technical assistance
Cabinet approval has been granted to initiate a discussion with the International Monetary Fund (IMF) for technical assistance, Co-Cabinet Spokesman, …
Advisory committee appointed to advise National Economic Council
The cabinet nod has been received to appoint an advisory committee to advise the National Economic Council after the council came under fire for the absence of …
Central Bank issues new rules on repatriation of export proceeds into Sri Lanka
The Monetary Board of the Central Bank has issued new rules in respect of the receipt of export proceeds into Sri Lanka and the conversion of such export …