The Ceylon Chamber Calls on All Political Parties to Support Continuity of SOE Reforms
The Ceylon Chamber of Commerce calls on all political parties to support the continuity of SOE reforms and the reform momentum, building on the economic …
Economy
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Debt Restructuring Talks With External Bondholders Ongoing; Official Creditor Deals Await Finalization: IMF
Julie Kozack, Director of Communications at the International Monetary Fund (IMF), provided an update on Sri Lanka's economic performance and debt …
Port City Colombo to reinvent SL economy to contemporary system that is geared for export of services
Port City Colombo says it hopes to empower large-scale business growth within the South Asian region through a reliable and competitive regulatory environment …
IFC Regional Vice President for Asia Pacific Signals Support for Sri Lanka’s Reforms During Official Visit
Concluding a two-day visit, IFC’s Vice President for Asia Pacific, Riccardo Puliti, signaled IFC's commitment to supporting Sri Lanka's ongoing reforms and …
Sri Lanka exports earnings up almost 10-pct in Mar 2024
The deficit in the merchandise trade account narrowed to US dollars 369 million in March 2024 from US dollars 412 million recorded in March 2023, primarily due …
EDB and CHEC Port City Colombo sign MoU to boost export businesses
In a significant move towards attracting export-oriented businesses to Port City Colombo, CHEC Port City Colombo (Pvt) Ltd, the primary developer of the …
Debt Restructuring: Govt has failed to strike a deal favorable to Sri Lanka – Harsha de Silva
According to a recent press release, the government of Sri Lanka has failed to secure a deal that benefits its people, says Harsha de Silva, the economics …
Sri Lanka announces end of initial talks with members of ad hoc group of bondholders
The Government of Sri Lanka announces today that it has held restricted discussions over the past three weeks with nine members of the steering committee who …
SL debt repayment period to be extended from 2028 to 2042, with a lowered interest rate of around 2-pct
Sri Lanka is in the final stages of negotiations with its creditors, spearheaded by Japan, to suspend debt repayments until 2028. The repayment period will be …
SOE Losses Costing LKR 141,809 per Sri Lankan Household
The soft pedaling by the government to carry out crucial reforms of State Owned Enterprises is forcing taxpayer’s wallets to take the brunt of the hit, says …
ADB partnership strategy 2024-28 for SL to foster sustainable recovery, build resilience, and revive growth
The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Sri Lanka covering the period 2024–2028. The strategy …
World Bank upgrades Sri Lanka’s growth forecast to 2.2-pct in 2024
In Sri Lanka, growth is expected to turn positive, to 2.2 percent in 2024, a 0.5 percentage point upgrade from the previous forecast, with modest recoveries in …
Despite strong growth, South Asia remains vulnerable to shocks: World Bank update
Growth in South Asia is expected to be strong at 6.0 percent in 2024, driven mainly by robust growth in India and recoveries in Pakistan and Sri Lanka. But …
IMF Reaches Staff-Level Agreement on the Second Review of Sri Lanka’s Extended Fund Facility
IMF staff and the Sri Lankan authorities have reached staff-level agreement on economic policies to conclude the second review of the 4-year EFF-supported …
New Secured Transactions Registry to Help Expand Financing for Small Businesses in Sri Lanka
Small and medium enterprises (SMEs) in Sri Lanka are set to benefit from the newly established Secured Transactions Registry (STR), which aims to facilitate …
Merchandise Exports Dip 0.77-pct in January 2024, Reaching USD970.7 Mn
The merchandise export performance in January 2024 amounted to US$ 970.7 million, recorded a 0.77 % decline compared to January 2023. Compared to January 2023, …
Sri Lanka trade balance deteriorated by 3.6-pct in January 2024
The deficit in the merchandise trade account widened to US dollars 541 million in January 2024 from US dollars 445 million recorded in January 2023, mainly …
CBSL Responds to Concerns Regarding Staff Remuneration Revision
The Central Bank of Sri Lanka (CBSL) has acknowledged recent media coverage of comments made by Members of Parliament regarding the latest revision of employee …
Sri Lankan Exporters Optimistic on Outlook 2024, despite Challenging Global Outlook
The recently released fifth Export Barometer Survey by The Ceylon Chamber of Commerce showcases the resilience of Sri Lankan exporters despite a challenging …
Eran: Is Sri Lanka the only country where inflation decreases when commodity prices continue to increase?
Samagi Jana Balawega MP Eran Wickramaratne said that Government by appointing a committee to review the compliance of the MoUs signed with foreign countries …