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Debt-for-nature swaps can provide debt relief, but could constitute event of default: Moody’s
In a proposal to Sri Lanka’s government, the United Nations Development Programme (UNDP) has suggested debt-for-nature swaps as part of the sovereign’s broader debt restructuring plan. Under the UNDP proposal, the debt-for-nature swap would allow a portion of the government’s large debt burden to be forgiven in exchange for the implementation of environmental policies or […]
Inflation is expected to peak at 29-pct in July; LKR to further depreciate
Inflation is expected to peak at 29% in July owing to potential price hikes in essential commodities like gas, electricity, and fuel prices, the First Capital Research said. CCPI further increased to 18.7% in March, exceeding the CBSL’s and FC Research’s desired range of 4%-6% and 5%-7% respectively. According to First Capital Research, the exchange […]
| Harsha de Silva
Speech at Forward, together for the Nation – A Forum Organised By National Council of Professionals
Commercial plantations urge immediate Government action to prevent industry’s demise
The Government’s failure to allocate fuel quotas to the Regional Plantation Companies (RPCs), together with continuous power disruptions and uninformed policymaking, is bringing Sri Lanka’s commercial plantations to a standstill. Due to the lack of fuel, all leaf and latex transport operations have been severely impacted and there is insufficient fuel to operate standby generators. Accordingly, […]
IMF team for Sri Lanka completes initial technical discussions on an IMF-supported program
During the 2022 IMF and World Bank Spring Meetings in Washington, D.C., IMF Managing Director Kristalina Georgieva and other senior members of IMF management met with a Sri Lankan delegation, led by Finance Minister Ali Sabry and Central Bank of Sri Lanka Governor Nandalal Weerasinghe, and discussed policy actions to address economic challenges. The IMF […]
Fitch Places Seven Sri Lankan Insurers on Rating Watch Negative
Fitch Ratings has placed the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers on Rating Watch Negative (RWN). The insurers are: -National Insurance Trust Fund Board -HNB Assurance PLC -HNB General Insurance Limited -People’s Insurance PLC -Continental Insurance Lanka Limited -Co-operative Insurance Company Limited -Sanasa General Insurance Company Limited Fitch has also […]
‘s Foreign Minister requests bridging finance from Chinese Ambassador
Minister of Foreign Affairs, Professor G.L. Peiris has requested assistance from China, particularly in the field of bridging finance during a difficult time. Minister Peiris met with the Ambassador of China, Qi Zhenhong, on 21 April 2022 at the Foreign Ministry. The Foreign Minister has apprised the Ambassador of the current situation in the country […]
Sampath Bank strengthens its strategic partnership with Paycorp International
Sampath Bank PLC announced that its connection to UnionPay International (UPI) is now complete and that the Sampath Bank Payment Gateway powered by UnionPay 3DS 2.0 is open for business. Having thus strengthened its strategic commercial partnership with Paycorp International (Private) Limited (Paycorp International), a wholly-owned subsidiary of Bancstac (Bancstac), this latest development provides Sampath […]
European Union gives Rs.60Mn in grants to support small tourism businesses
The Delegation of the European Union in Sri Lanka (EU) and the Sri Lanka Tourism Development Authority (SLTDA) awarded the first three grants – worth 1 million rupees each – to small tourism enterprises to help them accelerate their post COVID recovery and build a stronger base for growth as tourists start returning to the […]
Xebiro developing European tech in London, Colombo, and Jaffna
By Jekhan Aruliah COVID-19 lockdowns and remote working The COVID-19 pandemic, which had a devastating impact on health and on economies, is having a revolutionary impact on working and learning. Schools and universities were shoved unready from in-class to distance learning. Young people looking forward to a few years of unsupervised love and unhealthy food […]
Aitken Spence Travels first in the industry to be certified for OHS
Aitken Spence Travels proved their commitment to uphold exemplary benchmarks in occupational health and safety by becoming the first destination management company in Sri Lanka to receive the ISO 45001: 2018 Occupational Health and Safety (OHS) management certification. Certified by the SGS United Kingdom Ltd. the scope covered in the assessment includes destination management services, […]
Rambukkana incident: BASL calls for an independent investigation
The Bar Association of Sri Lanka (BASL) calls for an independent investigation of the Rambukkana incident and says the Government must ensure that the police and armed forces act with utmost restraint in the light of the genuine grievances of protesters. “The BASL is shocked and saddened at the loss of life in the incident […]