Tag: Sri Lanka
Sri Lanka debt to GDP ratio falls to 78-pct: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka’s debt to GDP ratio had fallen to 78 percent by end-2011 from 82 percent in 2010, Central Bank governor Nivard Cabraal said. The island’s foreign exchange reserves had fallen to 6.0 billion US dollars by the end of 2011 enough to cover 4. 0 months of imports and […]
Petro Facility
Jan 03, 2012 (LBO) – Sri Lanka is negotiating a billion dollar facility from an international bank to defray payments for petroleum imports by made state-run Ceylon Petroleum Corporation in 2012, officials said. By October 2011 Sri Lanka had spent 3.6 billion dollars on petroleum imports up 48. 5 percent from a year earlier. A […]
Sri Lanka to grow at 8-pct in 2012, new deal with IMF: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka’s economy is projected to grow at 8.0 percent in 2012 with a new deal in the offing with the International Monetary Fund, Central Bank governor Nivard Cabraal said. The island economy had grown at about 8. 3 percent in 2011, he said. In 2012 Sri Lanka is targeting […]
” program: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka will negotiate a “follow up or surveillance” program with the International Monetary Fund with a standby facility ending in December 2011, Central Bank Governor Nivard Cabraal said. Sri Lanka had a 2.6 billion US dollar stand by deal with the International Monetary Fund from May 2009 after the […]
Sri Lanka expects stronger links with ASEAN: foreign minister
Jan 02, 2012 (LBO) – Sri Lanka is looking for stronger economic ties with countries in the Association of South East Asian Nations, foreign minister Gamini Lakshman Peiris said in Colombo. Sri Lanka has also started participating in the ASEAN Region Forum (ARF) to promote security in the region. ASEAN bloc has broken trade barriers […]
Sri Lanka must restore rule of law, says human rights body
Dec 30, 2011 (LBO) – Sri Lanka needs to restore the rule of law and change its constitution that concentres too much power in the executive president who wields too much control over its citizens, the Asian Human Rights Commission said. “All Sri Lankans will wish that the coming year will not be like the […]
Sri Lanka December inflation rises to 4.9-pct
Dec 30, 2011 (LBO) – Sri Lanka’s inflation rose to 4.9 percent in December 2011 from a year ago, going up from 4. 7 percent in November 2011, the state statistics office said. Annual average inflation for 2011 was 6. 7 percent compared with 6.2 percent the year before, according to a 12-month moving average. […]
Sri Lanka should be prepared for slow global recovery: Razeen Sally
Dec 28, 2011 (LBO) – Sri Lanka should be prepared for a slow external environment with stimulus by deficit spending having failed in advanced economies and China and India also losing momentum, an international economist said. Both Hayek and fellow Austrian economist Ludwig von Mises had seen at firsthand what money printing, deficit spending and […]
Sri Lanka expropriated high rise to state agencies: report
Dec 26, 2011 (LBO) – A partially built high rise building in Sri Lanka’s capital Colombo which will be taken over and completed by a consortium of state entities following its expropriation, a media report said. Celestial Residencies, a building initiated by the troubled Ceylinco group where construction was halted will be completed with 9.2 […]
Aviation Fuel
Dec 26, 2011 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has called bids to build an aviation fuel terminal at a second international airport being constructed in Mattala, in the South of the island. Mattala airport in Sri Lanka’s Hambantota district, is being built with Chinese finance. Sri Lanka’s Ceylon Today newspaper said the […]
Sri Lanka forex reserves down 15-pct in October
Dec 24, 2011 (LBO) – Sri Lanka’s forex reserves fell 14. 8 percent off a high reached in July to 6,896 million US dollars by October 2011, as the island’s soft-dollar peg continued to be pressured, official data showed. Sri Lanka ‘sterilizes’ interventions to control the interest rate. A monetary regime in which both the […]
‘s brand image has to outshine larger countries: economist
Dec 23, 2011 (LBO) – Sri Lanka will have to showcase better indicators than larger countries in the region to attract investments as a global downturn remains in place, an international economist who has a special focus on Asia said. To draw large volumes of foreign investment macro-economic stability and a good business environment was […]