Economy

Sri Lanka EPF pension fund may allow early withdrawal

Mar 09, 2009 (LBO) – Sri Lanka's Employee's Provident Fund (EPF) which forcibly takes a part of the salary of a private sector worker for 'management' by …

Sri Lanka rupee unchanged after IMF bailout announcement

Mar 06, 2009 (LBO) - The Sri Lanka rupee traded at 114.20/25 against the US dollar in the spot market after the central bank said it had gone for an …

Sri Lanka says foreign investment US889mn in 2008

Mar 05, 2009 (LBO) – Sri Lanka had received 889,9 million US dollars of foreign direct investments in 2008 which includes a 136.72 million US dollar …

Sri Lanka Overseas Realty apartment sales slow

March 05, 2009 (LBO) – Overseas Realty (Ceylon) Ltd. (ORCL) said it is finding it difficult to sell apartments in a new high-rise condominium complex …

Sri Lanka is at medium risk from global fall out: IMF

Mar 04, 2009 (LBO) – Sri Lanka is among low income countries (LICs) at "medium" risk from global economic turmoil, and some nations were at "high" risk …

Sri Lanka negotiating US$1900mn facility from IMF: Central Bank

March 04, 2009 (LBO) – Sri Lanka has asked for a 1,900 million US dollar balance of payments support facility from the International Monetary Fund (IMF), …

Sri Lanka comes under IMF microscope

Mar 03, 2009 (LBO) – The International Monetary Fund has sent a mission to Sri Lanka to look at the country's "near-term outlook", the global monetary …

Sri Lanka at risk of economic damage from AIDS: World Bank

March 01, 2009 (LBO) - A new World Bank report says Sri Lanka must improve HIV/AIDS prevention programmes to prevent the disease causing economic damage. …

Sri Lanka says Fitch rating outlook cut ‘unwarranted’

Feb 28, 2009 (LBO) – The cut in the outlook of Sri Lanka's 'B+' sovereign rating to 'negative' by Fitch Ratings is 'unwarranted' and 'pessimistic' the …

Sri Lanka outlook lowered to negative by Fitch, B+ rating affirmed

Feb 27, 2009 (LBO) - Fitch Ratings has lowered Sri Lanka's long-term foreign currency sovereign credit outlook to negative from stable while confirming its …

Sri Lanka February inflation falls to 7.6-pct

Feb 27, 2009 (LBO) - Sri Lanka's inflation in the 12 months to February 2009 measured by the revised Colombo Consumer Price Index (CCPI) fell to 7. online …

Sri Lanka’s tax office back in business

Feb 25, 2009 (LBO) – Sri Lankan tax payers are being asked by the Inland Revenue Department (IRD) to continue to pay their dues, as the island's tax …

Sri Lanka cuts reserve ratio again

Feb 24, 2009 (LBO) - Sri Lanka has cut the statutory reserve ratio (SRR) or percentage of deposits commercial banks must keep with the central bank, by 75 …

Sri Lanka inflation to fall to 8.0-pct by end-Feb: CB Governor

Feb 20, 2009 (LBO) – Falling inflation is giving Sri Lanka more room to loosen monetary policy, Central Bank Governor Nivard Cabraal said Friday, though …

Sri Lanka, developing countries, face more challenges and poverty from downturn: economists

Feb 20, 2009 (LBO) – While developed countries are facing economic contraction, developing nations are facing increases of absolute poverty, with some …

Sri Lanka must sacrifice growth for stability: economist

Feb 19, 2009 (LBO) - Sri Lanka's government should focus on restoring macro-economic fundamentals which have deteriorated in recent years to help it overcome …

Sri Lanka official reserves US$1.7 billion in December

Feb 19, 2009 (LBO) – Sri Lanka's foreign reserves fell to 1,753 million US dollars in December from 2,030 million US dollars in November which was enough …

Sri Lanka to trim own contribution to push multilateral projects: minister

Feb 18, 2009 (LBO) – Sri Lanka is hoping to push through foreign funded projects which have been held up due to lack of 'counterparty funds', with a …

Sri Lanka needs prompt coherent action to survive global slump: think tank

Feb 16, 2009 (LBO) – Sri Lanka needs "prompt and coherent" policy action to counter a global slump which was slowing demand for exports and making it …

Zimbabwe earns second place in hyperinflation history: economist

Feb 14, 2009 (LBO) – As Zimbabwe allowed full 'dollarization' of its economy and legalized foreign currencies, a top monetary economist has placed the …