Economy

IMF asks domestic policymakers to be nimble to external risks

Singapore September 15, 2006 (LBO) – The International Monetary Fund Friday asked domestic policymakers to be nimble and adapt to external risks like …

Central Bank asks Sri Lanka’s money changers to up collections, but new tax pushes dollars underground

Sri Lanka’s central bank is asking the country’s licensed money changers to raise more dollars to be allowed to continue in business. They are …

Sri Lanka’s economy expands by 7.9% 1H06

September 12, 2006 (LBO) – Sri Lanka's economy grew at a blistering pace of 7.9 percent for the six months to June the Central Bank governor said, aided …

Sri Lanka earns US$ 220 mn in foreign investments

September 12, 2006 (LBO) – Sri Lanka has bagged 220 million dollars in direct investments for the six months to June, the island’s key promotional …

Sri Lanka expects 7.7% GDP in 2Q06; plays host to Commonwealth Ministers parley this week

Sept 11, 2006 – (LBO) Sri Lanka's recent economic growth performance fits well with the underlying theme of the upcoming Commonwealth Finance Ministers' …

ADB flags off construction work to link Sri Lanka’s tsunami hit coastline

September 8, 2006 (LBO) – Sri Lanka Friday flagged off construction work on a road project which links the tsunami hit coastlines from the south up to …

Maldives easiest place to do business in South Asia, Sri Lanka trails in fourth place

Sept 06 (LBO) - The coral atoll of Maldives was the easiest place to do business in South Asia, followed by Pakistan and Bangladesh, while Sri Lanka trailed at …

Sri Lanka lags reforming nations in South Asia: Report

Sept 06 (LBO) – Once the leader in reform, Sri Lanka is now lagging other reforming economies in South Asia, and the country has become a more difficult …

Sri Lanka’s trade deficit ballooned in July as port strike hit exports

Sept 06 (LBO) - Sri Lanka’s trade deficit expanded by more than 50 percent in the seven months to July, spurred by rapid import growth and falling …

Sri Lanka’s inflation hits 15.3% in July

August 31, 2006 (LBO) – Sri Lanka's consumer prices jumped to 15.3 percent in July, the Census & Statistics Department said Thursday, as prices of bread, …

Deutsche Bank and Central bank respond to story on central bank independence

The Central Bank's Senior Deputy Governor and the Deutsche Bank Head of Communications to the Asia Pacific Region have responded to our story headlined …

Independent central bank needed for stable cost of living in Sri Lanka: economist

August 27, 2006 (LBO) – Sri Lanka should have an independent central bank which can conduct prudent monetary policy in order to have low inflation, a …

Sri Lanka economy booms despite bombs and bloodshed

COLOMBO, Aug 18, 2006 (AFP) - Sri Lanka is expected to record its highest annual economic growth in 28 years despite escalating violence in the decades-old …

Central bank holds Sri Lanka policy rates steady in August

August 16 (LBO) - Sri Lanka's central bank said Wednesday it was holding rates steady, but warned that fuel subsidies were putting pressure on the balance of …

Sri Lanka’s US$ 5 bn investment pipeline held up due to red tape

August 14 (LBO) – Sri Lanka is sitting on a 5 billion dollar investment pipeline for development projects, held up due to red tape and other delays, the …

Sri Lanka’s Jan-June trade deficit widens sharply on oil

August 4, 2006 (LBO) – Sri Lanka's trade deficit expanded 48.0 percent to 1,793 million dollars for the six months to June, compared with the same period …

Sri Lanka’s consumer prices ease in July to 14.7%

July 31, 2006 (LBO) – Sri Lanka's consumer prices for July eased marginally to 14.7 percent, the Census & Statistics Department said Monday, as a drop in …

Sri Lanka to hold aid parley in Dec; asks donors to fund mega projects

July 28, 2006 (LBO) – Sri Lanka is asking donors to concentrate on helping to build mega infrastructure projects, when the annual aid parley meets in …

Sri Lanka urges nationals in Lebanon to stay put

July 25, 2006 (AFP) - Sri Lanka, which has the largest contingent of expatriate workers in Lebanon, wants those trapped in the conflict to stay put and those …

IPS to develop action plan for Sri Lankan industrialists

July 18, 2006 (LBO) – The Industrial Association of Sri Lanka has commissioned a study to develop a national action plan to be presented to the …