Tag: lbo.lk
Harsha proposes GDP growth-linked instrument for domestic debt optimisation
During a recent press conference, Opposition MP Harsha de Silva warned against the potential risks of domestic debt optimization, stressing the need for extreme caution. De Silva cautioned that if not managed carefully, domestic debt optimization could become a burden rather than a relief for the economy. Citing the net debt relief Laffer curve, de […]
Cabinet nod for World Bank funded social security programme
The proposed activities of the International Monetary Fund’s Extended Fund Facility program include measures to implement a strong social safety net to protect the most vulnerable groups in society, a statement on Cabinet decisions said. This week’s Cabinet decisions statement says the World Bank has agreed to provide a loan of USD 200 million to […]
PUCSL Chair calls for 20-pct price drop in electricity rates
The Chairman of Public Utilities Commission of Sri Lanka Janaka Ratnayake says that the electricity consumers should get a 20 percent tariff reduction based on a slowdown in electricity demand plus the exchange rate and reduced of fuel prices. “According to the tariff requested by CEB on 5th January this year, CEB had estimated an […]
Bringing Swiss Precision to Killinochchi Agriculture
By Jekhan Aruliah I first met Kamilton Arumugam and Lieke Schroder by mistake. We met at my place in Jaffna about a project a mutual friend thought we had a mutual interest.We didn’t, but it was a lucky mistake. I met two rare people, Kamilton returning from Switzerland and Lieke coming from Holland, investing their […]
Sri Lanka Central Bank assures banking sector stability in debt restructuring process
The Central Bank of Sri Lanka (CBSL) has assured the banks that the regulatory stance in the on-going Domestic Debt Optimization (DDO) discussions with the diverse stakeholders will be that, the banking sector stability cannot be put at risk, a statement said. Presently the banking sector is well capitalized with average Capital Adequacy Ratio over 15% and […]
Ajay Banga becomes 14th President of World Bank
The Executive Directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023. Ajay Banga most recently served as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, a global organization with nearly 24,000 employees. Under his leadership, MasterCard […]
ADB President commends SL for action taken to overcome economic crisis and pledges further support
Foreign Minister Ali Sabry met with the President of Asian Development Bank, Masatsugu Asakawa in Seoul, Republic of Korea during the 56th Annual Meeting of the ADB, Tuesday. The Minister expressed Sri Lanka’s gratitude for the excellent partnership and cooperation extended by the Asian Development Bank during a challenging period for Sri Lanka and for […]
FM Ali Sabry to attend annual meeting of board of governors of ADB, in S Korea
Foreign Minister Ali Sabry will leave for Incheon, South Korea to attend the 56th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB), scheduled to be held from 2-5 May 2023, representing President Ranil Wickemesinghe. The Annual Meeting is a high-level event attended by around 3,000-4,000 participants, including Ministers of Finance, Governors of […]
President directs immediate action to solve plantation sector issues
President Ranil Wickremesinghe says that the government is committed to carrying out its agricultural modernization plan. Speaking at recent meeting held at the Presidential Secretariat he emphasized that there are several issue fading the sector and that one of the main challenges was related to the Mahaweli Authority and its lands, which are now being […]
‘s Central Bank says structural reforms needed for short and long-term issues: Annual Report
The implementation of structural reforms focusing not only on restoring near term stability but also on rebuilding the nation with adequate safeguards and resilience in the post-debt restructuring and post-IMF bailout era is vitally important for permanent revival from the current economic crisis, Central Bank of Sri Lanka releasing its 2022 annual report said. The […]
HC Moragoda meets IndiGo co-founder Bhatia to discuss enhancing air connectivity between SL and India
Continuing his discussions with large-scale Indian investors and corporate leaders, Sri Lanka’s High Commissioner to India Milinda Moragoda met with IndiGo airline’s co-founder and Managing Director Rahul Bhatia on 26 April in New Delhi. This was a follow-up to the meeting that they had in December last year. The discussion between High Commissioner Moragoda and Bhatia was centred […]
Evacuation of Sri Lankans in Sudan
Ensuring the safety and security of Sri Lankans stranded in the Republic of the Sudan is the primary concern of the Government of Sri Lanka. Sri Lanka continues to monitor the evolving security situation in the Sudan and is closely working with its international partners, including the Government of India and the Kingdom of Saudi […]