Category:
Sri Lanka is swept away by an economic tsunami as a result of mismanagement by a family: Eran
Sri Lanka is the only country in the world amidst the Covid pandemic that has faced unprecedented price increases, gas and fuel shortages, and a dangerously low foreign reserve position. Even the countries in the Asian region have recorded a positive GDP growth, FDI, and foreign reserves said Eran Wickramaratne MP at a press conference […]
SEC wants to finalize implementation mechanism for Central Counterparty in 2022
The new Securities and Exchange Commission of Sri Lanka (SEC) Act which came into force on 19th September 2021 contains provisions that enable the setting up of a Central Counterparty (CCP). Further, the need for setting up a CCP in order to enhance the efficiency of post-trade risk management had been spoken of for a […]
Temporary closure of identified Sri Lanka missions overseas to conserve foreign reserves
The Foreign Ministry has taken a decision to temporarily close three of its Missions / Posts overseas, i.e., the Sri Lanka High Commission in Abuja, Nigeria; the Consulate General of Sri Lanka in Frankfurt, Germany; and the Consulate General of Sri Lanka in Nicosia, Cyprus; with effect from 31 December 2021. The decision, which has […]
‘s Central Bank amends annual license fee of banks
The Monetary Board requests every licensed commercial bank and licensed specialised bank to pay the licence fee in respect of the calendar year 2022 to the Central Bank on or before 31 January 2022, based on the total assets of such bank as at the end of 2021, as set out in the table below. […]
VIDEO INTERVIEW: What will the year 2022 look like for Sri Lanka? W A Wijewardena
“Sri Lanka will have a very gloomy future in 2022. If the government is interested in avoiding it, it has to immediately change the present economic policy Unless the government does that, we are heading towards a major disaster in 2022.” Dr. W A Wijewardena, Former Central Bank Deputy Governor
VIDEO INTERVIEW: What will the year 2022 look like for Sri Lanka? W A Wijewardena
“Sri Lanka will have a very gloomy future in 2022. If the government is interested in avoiding it, it has to immediately change the present economic policy.buy amoxicillin generic over the counterUnless the government does that, we are heading towards a major disaster in 2022.” Dr. W A Wijewardena, Former Central Bank Deputy Governor
” on sovereign downgrade; affirms Local-Currency IDR
Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’. The rating does not carry an Outlook because of the high volatility at this rating level, in line with Fitch’s rating definitions. Fitch has also downgraded BOC’s Viability Rating (VR) to ‘cc’, from ‘ccc’, and has affirmed […]
‘s ancient secret to better cognitive memory
The centuries-old abacus, once a common tool in many countries, has now been abandoned around the world. But in Japan, thousands of students are still taught proficiency on the abacus. Advocates argue that sliding the beads up and down with your fingers and then thinking with your brain creates a mind-body connection that helps with […]
CSE to extend trading hours; revise index calculation methodology of ASPI
The Colombo Stock Exchange (CSE) is revising the index calculation methodology of the All Share Price Index (ASPI) from full market capitalization-weighting to free float-adjusted Market Capitalization weighting. The Index methodology has been published on the CSE website.The Implementation of the said revision is scheduled to take place on 24 January 2022 (with effect from […]
Central Bank requests banks to suspend parate execution & forced repossession of leased assets
Sri Lanka’s Central Bank with a view to meeting the challenges faced by businesses and individuals due to the ongoing COVID-19 pandemic, requests banks to suspend all types of recovery actions, including parate execution and forced repossession of leased assets. In a circular to all licensed commercial banks and licensed specialised banks, the Central Bank […]
Sri Lanka expects USD 2bn SWAP facilities from Middle Eastern & other regional central banks
The Central Bank says that the measures being taken at present will ensure that by end of 2021 official reserves will remain above US dollars 3 billion. Releasing a statement, the bank said that major foreign exchange inflows to the Central Bank include SWAP facilities with Middle Eastern and other regional central banks amounting to […]
Joint Chambers express concern on impact of currency shortage; request to engage with IMF
Statement issued by the following Institutions: We wish to draw the attention of the Government to the difficulties faced by our member companies and the broader private sector in obtaining foreign currency to finance much needed imports due to the prevailing situation with regard to the lack of availability of foreign currency. This will affect […]