Tag: lbo

About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for financial assistance from the World Bank. About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for financial assistance from the World Bank. Sri Lanka’s total project allocation for 2004 tops US$ 400 mn, but World […]

Central Bank’s new thrust to grow the agriculture sector would be backed by credit from the formal financial sector, rather than direct intervention from the bank, officials said.Central Bank’s new thrust to grow the agriculture sector would be backed by credit from the formal financial sector, rather than direct intervention from the bank, officials said. […]

Rising inflation and falling reserves is likely to put an end to Sri Lankas eight month long honeymoon with low interest rates.The Central Bank hinted that it is unlikely to keep down short-term interest rates next month, as a declining trend in inflation bottoms out keeping in line with rising consumer prices.rn rnThe bank on […]

Aid flows fell sharply in the first five months as the government lost donor support due to policy about-turns. Gross inflows in the first five months amounted to Rs. 28 bn with Rs. 98 bn being the target set by the previous government for this year.rn rnNet borrowing to support the budget was expected to […]

Sri Lanka and the World Bank sealed half-a-century of cooperation on Friday by inking another large-scale development aid package.Sri Lanka joined the World Bank in 1950 and singed its first loan agreement with the International Development Bank on July 9, 1954. rn The loan for US $ 19.1 mn, was for the construction of the […]

Continuing its campaign against pyramid schemes, Central Bank is again warning the public that persons who buy a product, not for its own sake but expecting future returns from getting more enter the scheme, are not engaging in a simple trade transaction but a different type of game. “As the expectation of future returns is […]

The Colombo stockmarket reacted negatively to the Wednesday morning suicide bomb explosion that has so far left four dead and fifteen others in hospital,. The explosion took place when a female suspect taken in on suspicion blew herself up inside the Colpetty Police station.rn rnSecurity sources believe that the suicide bomber could have targeted Secretary […]

The bomber was escorted to a police station opposite the US and British diplomatic missions after security guards prevented her from entering a ministry in the high-security area of Colombo, a military official said.rn “She was being questioned and about to be searched by two women police constables when the blast occurred,” the official told […]

A new government sponsored agency under the Presidents control and headed by a top bureaucrat has been put in charge of policy formulation and implementation. The National Council for Economic Development (NCED), manned by a team of professionals from the private and public sector will seek wide participation in policy formulation. Experts say getting the […]

The government is going to expand its role in the economy with more spending on infrastructure and subsidies.Unveiling the governments economic policy the finance minister also said the government would push for growth in the agriculture sector to bridge the disparity in regional GDP and to achieve self-sufficiency in food. rn rnRuling UPFA government economic […]