Economy

Sri Lanka foreign loan program ‘difficult’ under current conditions: official

Nov 18, 2008 (LBO) - Sri Lanka's infrastructure projects could face delays if the island is unable to raise over half a billion dollars though commercial loans …

Sri Lanka should tap IMF, get economic antibiotics: economists

Nov 17, 2008 (LBO) – Sri Lanka should tap the International Monetary Fund for a stabilization package early as the country is heading for balance of …

Sri Lanka cuts money target for third quarter, amid currency trouble

Nov 14, 2008 (LBO) – Sri Lanka's central bank has cut the reserve money target for the fourth quarter of 2008, amid warnings that its monetary program …

Sri Lanka bilingual education gets World Bank priority

Nov 13, 2008 (LBO) - The World Bank said one of the aims of its new aid programme for Sri Lanka was to help achieve ethnic harmony through bilingual education …

Sri Lanka scores poorly in ease of paying tax ranking

Nov 13, 2008 (LBO) - Sri Lanka has been ranked near the bottom of a new global ranking on paying taxes, making it one of the most difficult countries for …

Descent into the financial vortex: a chronology of the crisis

PARIS, November 12, 2008 (AFP) - Key stages in the worldwide financial crisis, which is to be discussed at a summit in Washington on Saturday: - February 2007: …

Sri Lanka govt gives dates for new taxes

Nov 11, 2008 (LBO) - The Sri Lankan government has announced the dates on which new taxes imposed in the government budget for 2009 will become effective. buy …

Pakistan, Sri Lanka and Vietnam most at risk of a credit downgrade: report

Nov 10, 2008 (LBO) – Pakistan, Sri Lanka and Vietnam are most at risk of a credit downgrade in Asia by the rating agency Standard and Poor's (S&P), amid …

Sri Lanka recent policy has crippled domestic industry: opposition

Nov 09, 2008 (LBO) - Sri Lanka's current economic framework has crippled domestic industry and protectionist taxes announced in the 2009 budget are …

Sri Lanka budget cuts taxes, but imposes new one

Nov 07, 2008 (LBO) – Sri Lankan accountants say the proposed cut in Value Added Tax (VAT) in the government's 2009 budget would not provide much relief …

Sri Lanka budget deficit projected at 6.5-pct of economy

Nov 06, 2008 (LBO) - Sri Lanka raised trade barriers and cut neutral value added taxes in its 2009 budget which is projected to have a deficit of 336 billion …

Sri Lanka 2008 economic growth 6.0 to 6.5: Central Bank

Nov 06, 2008 (LBO) - Sri Lanka's economic growth is likely to fall to between 6.0 and 6.5 percent in 2008, the island's central bank has said, downgrading a …

Sri Lanka ruling party champions fiscal prudence, as opposition scrapes bottom

Nov 06, 2008 (LBO) – Sri Lanka's ruling party, whose fiscal profligacy caused high inflation and high interest rates while endangering the entire economy …

Sri Lanka government to spend Rs200bn for defence in 2009

Nov 06, 2008 (LBO) – Sri Lanka's government would spend 360 billion for capital expenditure in 2009, and 200 billion for defence, the island's president …

Sri Lanka proposes range of taxes and import cesses

Sri Lanka has proposed sweeping levies on imported foods, and consumer durables, jacked up a turnover based levy on international trade, trimmed value added …

Sri Lanka main opposition presents sunshine ‘budget’

Oct Nov 04, 2008 (LBO) – Sri Lanka's main opposition United National Party has revealed a sunshine 'budget' promising massive salary increases to the …

Sri Lanka defence, subsidy costs overshoot ahead of next budget

Nov 03, 2008 (LBO) – Sri Lanka's budget for 2009 will focus on keeping a military campaign on track while also providing resources to build …

Sri Lanka bad budgets, hot borrowings, dollar peg has endangered economy: IMF

Nov 01, 2008 (LBO) – Sri Lanka has to change its ways to protect itself from the negative effects of bad budgets, foreign borrowings, and a 'de facto' …

Sri Lanka’s inflation eases to 20.2-pct

Oct 31, 2008 (LBO) – Consumer inflation in Sri Lanka's capital Colombo fell to 20.2 percent in the 12-months to October from 24.3 percent a month ago, …

With debt mounting, new US president to face tough choices

WASHINGTON, October 28, 2008 (AFP) - The next US president will inherit a mountain of debt from the latest government bailouts, making it difficult to …