Economy

Sri Lanka govt wins crucial budget vote

Dec 14, 2007 (LBO) – Sri Lanka's government Friday won a crucial vote in parliament on its 2008 budget, despite a last minute crossover of a cabinet …

Sri Lanka reserves up on government borrowings

Dec 14, 2007 (LBO) – Sri Lanka's official foreign reserves had shot up to 3,226 million dollars in October from following a 500 million dollar sovereign …

Sri Lanka inflation index controversy takes new turn

Dec 12, 2007 (LBO) – A controversial new inflation index that claims to show lower inflation in Sri Lanka has completely dropped alcohol and tobacco from …

Sri Lanka coalition partner returns to opposition – Updated

Dec 12, 2007 (LBO) – Members of a key Sri Lankan minority party crossed over to the opposition Wednesday increasing uncertainty over the fate of the …

Sri Lanka fills vacancy in rate-setting monetary board

Dec 11, 2007 (LBO) – Sri Lanka has appointed Manohari Ramanathan, an attorney-at-law to fill a vacancy in the governing body on the country's monetary …

Sri Lanka could stabilize economy with inflation targeting: IMF director

Dec 10, 2007 (LBO) – Sri Lanka could stabilize its economy and rein in galloping prices by moving to an inflation targeting framework and a flexible …

Sri Lanka inflation caused by govt. credit, not private sector: IMF

Dec 06, 2007 (LBO) – Sri Lanka's inflation is strongly linked to government credit, the International Monetary Fund (IMF) said in a report released this …

Sri Lanka rupee zooms amidst record exporter selling

Dec 06, 2007 (LBO) – The Sri Lanka rupee extended gains against the greenback Thursday as panicky exporters sold dollars fearing more 'carry trade' style …

Sri Lanka economic shocks are home grown: IMF

Dec 04, 2007 (LBO) – Recent weaknesses in Sri Lanka's economy have come from internal policies, and a plan to stop market pricing Diesel and Kerosene in …

Sri Lanka urges private sector to spread benefits of export success

Dec 04, 2007 (LBO) – Sri Lanka's government is trying to better spread the benefits of economic growth and reduce income disparities which have widened …

Sri Lanka new price index shows 19.3-pct inflation

Dec 04, 2007 (LBO) – A new index to measure inflation in Sri Lanka's capital Colombo, showed that prices had risen by 19.3 percent in the past 12 months, …

Sri Lanka power utility needs reform, price revisions says IMF

Dec 03, 2007 (LBO) – The International Monetary Fund (IMF) has called for further reforms of Sri Lanka's state electricity utility which looks set to …

Zimbabwe inflation could be halted with new monetary regime: Steve Hanke

Dec 02, 2007 (LBO) – Zimbabwe's rocketing prices which are starting to take almost the same path as the 1920's German hyperinflation, could be halted by …

Sri Lanka to release index showing lower inflation

Dec 01, 2007 (LBO) – Sri Lanka is about to release an inflation index that shows a lower level inflation a top official said, making the island the …

Sri Lanka warned of impending foreign debt crisis by IMF

Nov 30, 2007 (LBO) – The International Monetary Fund (IMF) has warned that Sri Lanka may be heading towards a foreign debt crisis unless the island …

Sri Lanka needs spectacular fiscal gains to reach revised budget: economist

Nov 29, 2007 (LBO) – Sri Lanka's state revenues have to grow twice as fast in the last quarter and expenses growth has to plunge to single digits for …

Sri Lanka should print less money and budget better: IMF

Nov 29, 2007 (LBO) – The International Monetary Fund (IMF) has asked Sri Lanka to print less money and have better budgets to prevent balance of payments …

UN calls for action to stop climate change catastrophe

Nov 28, 2007 (LBO) – The United Nations Development Program says climate change has become the central challenge of development. UNDP has just released …

Sri Lanka makes progress despite war, UN says

Nov 28, 2007 (LBO) – A new report by the United Nations says that Sri Lanka is doing well according to human development indicators despite the …

Sri Lanka says Iran to give 1.5 billion dollars aid

Nov 28, 2007 (AFP) - Sri Lanka's president secured 1.5 billion dollars worth of financial aid from Iran for infrastructure projects while on a three-day visit …