Sri Lanka’s May Exports Up 9-pct from April
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in May 2024 amounted to US$ 960.2 million, recorded an …
Economy
Ceylon Chamber commends board-level agreement on second IMF review, Calls for sustained economic reforms
The Ceylon Chamber of Commerce congratulates the Government of Sri Lanka for securing a board-level agreement on the second review of Sri Lanka’s Extended …
IMF completes second review; says debt sustainability path remains knife-edged
The IMF Executive Board completed the 2024 Article IV Consultation and Second Review under the 48-month Extended Fund Facility with Sri Lanka, providing the …
Sri Lanka elected to the United Nations Economic and Social Council
Sri Lanka has been elected by the United Nations General Assembly (UNGA) to the United Nations Economic and Social Council (ECOSOC) at the …
Sri Lanka’s Central Bank Governor Discusses Cryptocurrency Regulation Amidst Calls for Relaxation
In a press conference held today, Sri Lanka’s Central Bank Governor, Nandalal Weerasinghe, reiterated his concerns over the use of cryptocurrencies, which …
Sri Lanka’s Exports Up 1.25-pct to USD1.11 Billion in April
The total exports (Merchandise & Service) for the month of April 2024 was recorded as US$ 1,114.22 Million increasing 1.25 % over the corresponding period …
Economic Transformation Bill and Public Financial Management Bill to Parliament on May 22
Acting Finance Minister Shehan Semasinghe announced plans to introduce two significant bills to Parliament on May 22, aimed at bolstering the country's …
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 …
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 …