Category: Economy
‘s economy
In the high-stakes world of trade and logistics, corruption at Sri Lanka’s customs, IRD, ports, and airports is not just an inconvenience—it’s a crisis that’s crippling the nation’s export sector. Outdated, manual systems have become breeding grounds for corruption, where bribery and inefficiency rule, bleeding exporters dry and stifling economic growth. The country stands at […]
Sri Lanka’s Industries call for reduction in water tariffs to boost competitiveness
A collective of trade associations including the Joint Apparel Association Forum (JAAF), the Federation of Chambers of Commerce and Industry in Sri Lanka (FCCISL), the European Chamber of Commerce in Sri Lanka (ECCSL), the Exporters Association of Sri Lanka (EASL), the International Chamber of Commerce Sri Lanka (ICCSL), and the National Chamber of Exporters (NCE), […]
Sri Lanka’s July 2024 Exports Surge to USD1 Bn, Marking a 6.58-pct Year-on-Year Increase
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in July 2024 amounted to US$ 1,087.6 million, recorded an increase of 6.58 % compared to the month of July 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Coconut based products, […]
”s “real” agenda
In the latest series of the RIUNIT podcast hosted by Roshan Madawela, distinguished economists Prof. Howard Nicholas and Prof. Jayati Ghosh, delve deeply into the rapidly changing economic and geopolitical environment, examining both local and global economic orders. By questioning popular narratives, they provide insightful analysis and perspectives on the complex forces shaping our world […]
Advocata calls for urgent reforms to address inefficiencies plaguing Sri Lanka’s SOEs
The Advocata Institute launched its latest report, “Getting the State Out of Business: The Compelling Case for Privatisation of State-Owned Businesses,” which featured a high-profile panel discussion, calling for urgent reforms to address the inefficiencies plaguing Sri Lanka’s state-owned enterprises (SOEs). The event featured a keynote address by Mr. Suresh Shah, Director General of the […]
CA Sri Lanka Facilitates a Deep Dive into IMF Tax Reforms and Their Implications
The International Monetary Fund (IMF) issued a comprehensive report following its second review of Sri Lanka’s Extended Fund Facility on 12 June 2024, which sparked lively debates among economists, policymakers and the general public, especially with regard to the revenue proposals. To facilitate a deeper understanding and gather diverse perspectives, a discussion forum was held […]
FIU enters into a MoU with Registrar General’s Department
Financial Intelligence Unit of Sri Lanka entered into a Memorandum of Understanding with the Registrar General of the Registrar General’s Department The Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Registrar General of the Registrar General’s Department on August 06, 2024, at the Central Bank of Sri […]
ADB approves USD100Mn policy-based loan support for power sector reforms in Sri Lanka
The Asian Development Bank (ADB) and the Government of Sri Lanka signed a loan agreement for US$100 million on Monday (5 August 2024) for subprogram 1 of a policy-based loan (PBL) to support and facilitate reforms aimed at enhancing the financial sustainability of the power sector in Sri Lanka. This loan is part of a broader […]
” Policy Document to Encourage Bipartisan Approach Towards Development
The Ceylon Chamber of Commerce launched its landmark policy document, ‘Vision 2030,’ designed to steer Sri Lanka towards sustainable and inclusive development by 2030. The inaugural copy of this comprehensive economic plan was presented to President Ranil Wickremesinghe. The document will also be distributed to political party leaders, the Central Bank Governor, and the Treasury […]
Maintaining macroeconomic stability, restoring debt sustainability require further efforts to raise fiscal revenues: IMF
The IMF staff team has concluded its visit to Sri Lanka, emphasizing the need for continued efforts to maintain macroeconomic stability and restore debt sustainability. The preliminary findings highlight the importance of raising fiscal revenues and exercising spending restraint to achieve a medium-term primary balance objective of 2.3% of GDP, which is crucial for the […]
Central Bank of Sri Lanka publishes its inaugural market operations report
The Central Bank of Sri Lanka (the Central Bank) released its inaugural Market Operations Report (MOR) with the aim of enhancing awareness and knowledge among the stakeholders on monetary operations carried out by the Central Bank in line with the prevailing monetary policy stance. The MOR would be a catalyst to improve transparency and accountability […]
Port City Economic Commission Act to be amended to enhance global competitiveness
The Cabinet of Ministers has approved the proposal presented by the President in his capacity as the Minister of Investment Promotion to instruct the Legal Draftsman to prepare a bill for amendment of Port City Economic Commission Act No 11 of 2021 inclusion of relevant amendments. The necessity has been identified to amend the Port […]