Economy & Markets

Sri Lanka’s Central Bank hikes short term interest rates by half a percent

September 28, 2006 (LBO) - Sri Lanka’s Central Bank Thursday hiked short term rates by 50 basis points, two days after shutting the bank’s …

Sri Lanka’s central bank restores cash facility to calm markets; emergency 50bp rate hike

September 28, 2006 (LBO) - Sri Lanka's central bank Thursday regained control of the country's runaway short-term rates by restoring a standing liquidity …

Sri Lanka not doing enough to communicate reforms to masses: World Bank

September 27, 2006 (LBO) – Sri Lanka is not doing enough to communicate reforms to the masses, making it difficult for investors to do business here, the …

Turmoil in Sri Lanka’s cash markets hit treasuries; dealers refuse to discount gilts

September 27, 2006 (LBO) - Aftershocks of Tuesday's withdrawal of the central bank's standing cash facility has hit short-term treasuries, with Sri Lanka's …

Sri Lanka’s Central Bank takes the lid off short term rates; cash markets in shock

September 26, 2006 (LBO) -- In a major policy shift, Sri Lanka's central bank Tuesday allowed the rate at which it injects overnight cash, to move above its …

Developing states aim to lift millions out poverty with new G11 forum

NEW YORK, Sept 20, 2006 (AFP) - Eleven developing economies clubbed together Wednesday to unveil a new forum aimed at easing their debt burden, narrowing the …

Sri Lanka to lead South Asian initiative to study impact of oil prices

SINGAPORE, September 20, 2006 (LBO) – Sri Lanka is leading a South Asia initiative to study the impact of oil prices and its effects on macro economic …

End bloodshed to restore Sri Lanka business confidence: IMF-WBank

SINGAPORE, Sept 20, 2006 (AFP) - Sri Lanka has shown economic resilience but needs to end violence to restore much-needed business confidence, the World Bank …

Sri Lanka GoldQuest controversy takes new turn with Central Bank denial

Sept 19 (LBO) - The controversy over the sudden recall of police investigators probing the GoldQuest scheme took a new turn, with the authorities denying that …

Government policies in Sri Lanka and elsewhere keep poor at bottom end

SINGAPORE, September 18, 2006 (LBO) – The World Bank rapped politically hungry governments saying short sighted policies fail to uplift the poor, keeping …

Civil society groups slam IMF reforms

SINGAPORE, September 18, 2006 (LBO) – Civil society groups Sunday slammed IMFs plan to overhaul its governance structure, saying they mean very little to …

Mixed response to World Bank’s new thrust on linking aid and graft busting

SINGAPORE, September 18, 2006 (LBO) – World Bank’s policy body Monday asked the bank’s president not to lose sight of reducing poverty, as …

Sri Lanka among groups against IMF reforms

SINGAPORE, September 18, 2006 (LBO) – Sri Lanka was one of the 23 countries that opposed a plan to overhaul the voting shares of the International …

Sri Lanka boat people caught off Spain

PUERTO DE LOS CRISTIANOS, Spain, Sept 17, 2006 (AFP) - A second boatload of some 200 clandestine immigrants from Asia has been spotted on its way to the Canary …

Sri Lanka’s inflation ‘worrying’, other South Asian nations doing better : IMF

SINGAPORE, Sep 17 (LBO) - Though other South Asian nations are doing reasonably well in fighting inflation Sri Lanka's central bank must be more vigilant and …

South Asia’s obsession with subsidies no help to the poor : Wolfowitz

SINGAPORE, Sept 16, 2006 (LBO) - The practice of Sri Lanka and other South Asian countries that spend massive public resources on subsidies do not help the …

Oil prices bigger threat than terrorism to Sri Lanka : CB Governor

SINGAPORE September 16, 2006 (LBO) – Historically high global oil prices have overtaken a three decades old ethnic conflict to emerge as the biggest …

Worker remittances help Sri Lanka weather shocks

SINGAPORE, September 16, 2006 (LBO) – Workers’ remittances is turning out to be an attractive sources of foreign financing for countries like Sri …

Sri Lanka’s central bank combats inflation with negative real rates

Sept 15 (LBO) - Sri Lanka’s central bank said it was not raising interest rates despite expanding money supply, rising inflation and real interest rates …

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 …