Economy

Sri Lanka getting hooked on debt, economists say

Nov 27, 2007 (LBO) – Sri Lanka's government is becoming addicted to debt and putting at risk the country's future, private sector economists said. "We're …

Sri Lankan researcher questions MDGs, notes backward trends

Nov 24, 2007 (LBO) – A Sri Lankan researcher has questioned the importance of Millennium Development Goals (MDG) saying they did not reveal reasons for …

Sri Lanka tightens monetary policy; discount rate 19-pct from December

Nov 23, 2007 (LBO) - Sri Lanka has tightened monetary policy by restricting access to a discount window and creating two policy rates, days after the Central …

Sri Lanka record money printing revealed

Nov 22, 2007 (LBO) - Sri Lanka has engaged in an unprecedented money printing and reserve appropriation drive running into 45 billion rupees to bridge a …

Sri Lanka central bank promises vigilance over liquidity as inflation rages

Nov 20, 2007 (LBO) – Sri Lanka's central bank said it is countering a liquidity shock to the monetary system from a dollar bond issue, though policy …

Sri Lanka inequality on the rise despite growth: UNDP

Nov 20, 2007 (LBO) – Inequality is on the rise in Sri Lanka despite the island making much progress in economic development, an international expert …

Sri Lanka to appoint town planners to all local bodies

Nov 20, 2007 (LBO) - Sri Lanka has decided to appoint professional town planners to all local government bodies in a move that will speed up approvals and …

Sri Lanka Central Bank rejects gold reserve sale charges as criticism mounts

Nov 20, 2007 (LBO) – Sri Lanka's Central Bank has rejected allegations it had sold tonnes of gold reserves to fund government expenditure in recent …

Sri Lanka’s Horana named best town for business

Nov 15, 2007 (LBO) – A town south-east of the Sri Lankan capital Colombo has emerged as the surprising choice of companies as the best place to do …

Sri Lankan coastal towns threatened by rising sea level

Nov 14, 2007 (LBO) – Sri Lanka's coastal settlements are at risk of rising sea levels caused by global warming while those in the central hills face …

Sri Lanka trade deficit widens in September; 9-month deficit still down

Nov 14, 2007 (LBO) – Sri Lanka's trade deficit widened in September to 281 million from 199 million a year ago, but the gap for the first nine months of …

Sri Lanka private sector calls for fewer, simpler taxes

Nov 12, 2007 (LBO) – Sri Lanka's private sector Monday urged the government to do more to reduce the multitude of taxes and simplify the system in order …

Sri Lankans abroad buying ‘homeland’ bonds to get land tax break

Nov 07, 2007 (LBO) – Foreign resident Sri Lankans who will buy a special bond would be allowed to buy land in the country without a penal 100 percent …

Sri Lanka counts cost of war with new budget

Nov 6, 2007 (AFP) - Sri Lanka is expected to unveil its biggest ever war budget this week, as a government military campaign to crush the Tamil Tiger rebels …

Sri Lanka says rupee will appreciate and interest rates will fall

Nov 06, 2007 (LBO) – The Sri Lankan rupee would appreciate to 110 to the US dollar and interest rates and inflation would fall further, Treasury …

Sri Lanka awash in dollar liquidity, country wide inflation at 22.1-pct

Nov 06, 2007 (LBO) – Sri Lanka's country-wide inflation shot up to 22.1 percent in September, the latest data shows, while the monetary authority is …

Sri Lanka to print less money for deficit after bond issue: Central Bank

Nov 02, 2007 (LBO) – Sri Lanka's central bank says it would not have to print money as the government had borrowed abroad helping lower inflation in the …

Sri Lanka women keeping economy afloat – UN

Nov 01, 2007 (LBO) – Sri Lanka is depending on women to earn foreign revenues more than any other country in the world with the bulk of worker …

Sri Lanka should lower inflation to protect poor people: World Bank

Nov 01, 2007 (LBO) – Sri Lanka should lower inflation to protect the poor and take steps to clear economic imbalances that were building up, a top …

Sri Lanka’s weak rule of law alarming for economy: World Bank

Nov 1, 2007 (AFP) - A top World Bank official on Thursday urged Sri Lanka to cut a political deal with Tamil rebels to help spur economic growth which has been …