Economy & Markets

Sri Lanka needs more fiscal, monetary tightening; growth 6.1% in 2007 – ADB

March 27, 2007 (LBO) – Sri Lanka needs more monetary tightening and a smaller budget deficit to improve its economic fundamentals and bring inflation …

Sri Lanka offers bonus for kids to return coins in their piggy banks

March 27, 2007 (LBO) – Sri Lanka would offer an immediate 20 percent bonus in stationary for kids who break their piggy banks and deposit the coins in …

Tiger air raid a blow to Sri Lanka’s balance sheet

March 26, 2007 (AFP) - The first ever air attack by Tamil Tiger rebels is a psychological setback to Sri Lanka's military but could cause an even bigger blow …

Japan gives 320 million dollar loan to Sri Lanka

March 23, 2007 (AFP) - Japan gave Sri Lanka a 320-million-dollar loan Friday to build roads and improve drinking water supply in key cities, the Japanese …

Sri Lanka and India in trade talks in Colombo next week

March 22 (LBO) - Sri Lanka and India will hold another round of trade talks in Colombo next week on liberalizing professional services, investments and trade …

Sri Lanka raises more dollars from rupee bonds, shoring up official reserves

March, 21 (LBO) - Sri Lanka has raised 40 million dollars this week by selling rupee bonds to foreign buyers bringing the total so far 140 million dollars, an …

Sri Lanka money rates hit 12-year high in record busting week

March 17 (LBO) - Sri Lanka's overnight money market rates came down from a 12-year high following a cash inflow from a dollar bond issue Friday, while the …

Sri Lanka switches to strong quantity targeting regime; policy rates unchanged in March

March 16 (LBO) – Sri Lanka's central bank kept its now largely irrelevant discount rate unchanged Friday, while its monetary policy actions in recent …

Sri Lanka’s exports grow but trade deficit widens

March 15 (LBO) – Sri Lanka's exports grew by 11.2 percent in January led by industrial exports which surged 15.6 percent, the Central Bank said Friday. …

Sri Lanka sells 100 million dollars worth of rupee gilts to foreigners

March 14 (LBO) - Sri Lanka has sold half of the targeted 20 billion rupees worth of bonds to foreign buyers this year, the country's public debt office said. …

Sri Lanka looks to raise more tax at local government level

March 14, 2007 (LBO) – Sri Lanka is looking for ways for local government bodies to collect more taxes to as part of the strategy to take economic …

Sri Lanka rupee weakens; money rates ease

March 13 (LBO) - The rupee closed lower against the dollar but overnight call money rates came down from the previous day's highs to around 16 to 18 percent on …

Sri Lanka gets budgetary support grant from Japan

March 13, 2007 (LBO) -- Sri Lanka has secured a 10. online pharmacy buy ciprodex with best prices today in the USA online pharmacy buy doxycycline with best …

Sri Lanka cash rates hit a new 32% high, equities slide

March 12 (LBO) - Sri Lanka's overnight cash rates hit a new high of 32 percent Monday, as the central bank stayed away from injecting liquidity through an open …

Sri Lanka’s cash rates rocket to a new 7-year high amidst cash crunch

March 09 (LBO) - Sri Lanka's overnight rates reached 30 percent amidst tight liquidity, with monetary authorities restricting access to its discount window, …

Sri Lanka rakes in US $ 215 mn from dollar bonds while risk premium edges up

March 09 (LBO) - The risk premium demanded by buyers of Sri Lanka dollar bonds edged up Friday, but the government raked in all offers raising four times the …

Sri Lanka tea exporter calls for economic stability rather than inflation-depreciation cycle

March 09, 2007 (LBO) – In a departure from the usual cry, a top tea exporter in Sri Lanka has called for lower fiscal deficits and economic stability …

Sri Lanka in tsunami tax crackdown

COLOMBO, March 9, 2007 (AFP) - Sri Lanka's finance ministry said Friday it was planning action against charities that are using vehicles imported duty-free for …

Treasury bill yields in Sri Lanka edge upwards

March 07 (LBO) - Sri Lanka's treasury yields moved up by an average 15 basis points at Wednesday's auction, despite the central bank purchasing two billion …

Sri Lanka sovereign rating weighed down by weak budgets, war, public employment

March 02 (LBO) - Sri Lanka's weak public finances which leave little room for the country to counter shocks and an ongoing war are weighing heavily on its …