Secretary to the Treasury and Finance Ministry Mahinda Siriwardana has said that even if Sri Lanka achieves the goal of zero corruption, tax revenue will still have to be increased to bridge the budget deficit and lessen the country’s debt burden. Referring to the Supreme Court ruling pertaining to economic management delivered on Nov 14, […]

President Ranil Wickremesinghe extended an invitation to all political party leaders in the Parliament to engage in discussions with the Managing Director of the International Monetary Fund (IMF) on the implementation of the agreement with the IMF. Emphasizing the importance of unity in leading the country to success, he reiterated that withdrawing from the agreement […]

In the global political landscape of 2024, Reuters provides a comprehensive overview of key elections shaping the economic and geopolitical landscape across diverse regions. From Europe, where the rise of Eurosceptic far-right parties poses challenges to the European Union’s integration, to Russia, where Vladimir Putin is set for another term amid heightened tensions with the […]

by Jehan Perera Under President Ranil Wickremesinghe’s leadership it looks like Sri Lanka is once again punching above its weight.  The President took centre stage at the 19th Summit of the Heads of State and Government of the Non-Aligned Movement (NAM) and the 3rd South Summit of the Group of 77 & China, currently taking […]

By Prof. Amarasiri de Silva Sri Lanka, renowned for its rich cultural heritage and diverse landscapes, is grappling with an unprecedented macroeconomic crisis. This crisis has given rise to acute shortages and sharp increases in the prices of essential products, creating a complex web of challenges

Sri Lanka is showing first signs of recovery as it finds itself in an election year, and therefore, what happens before the elections as well as after them will be crucial for the economic recovery in Sri Lanka, IMF’s Senior Mission Chief, Peter Breuer said on Friday. He said so at a press briefing held […]

The economic reform programme, implemented by the Sri Lankan authorities is yielding the first signs of recovery with positive real GDP growth in the third quarter of 2023, low inflation, increased revenue collection, and a build-up of external reserves, the IMF has said. Staying the course on the reform agenda is necessary for this stabilization […]

President Ranil Wickremesinghe addressing the 19th Non-Aligned Movement (NAM) Summit in Kampala, Uganda said that Non-aligned nations, once perceived as weak states, have evolved beyond that characterization. He also expressed gratitude to President Museveni and Uganda for hosting the summit. Following is the full speech delivered by President Ranil Wickremesinghe; “Let me begin by congratulating ...

by Dr Amali Wedagedara In Sri Lanka, public policy lost in the neoliberal haze treats the market as a cure for all ills. Not only is the market omnipresent, but it is also omniscient and omnipotent. The charm of the ‘market’ that research and advocacy lobbyists are creating is so alluring that only a few […]

… USD 5 mn paid to Iran a month By Shamindra Ferdinando Power and Energy Minister Kanchana Wijesekera has confirmed that consumers of petrol and diesel have been made to pay Rs. 50 to Rs. 55 per litre since the middle of last year to settle what the Ceylon Petroleum Corporation (CPC) owed its creditors. […]

Ms. Shashi Kandambi, a leading professional in the banking sector, has assumed office as the 19th General Manager/CEO of National Savings Bank (NSB) on 10th January 2024. Ms. Kandambi was the Senior Deputy General Manager of International Banking at Sampath Bank, where she had a long-standing and successful career. Her banking experience spans over 35 […]

During a meeting between President Ranil Wickremesinghe, Sri Lankan authorities and the International Monetary Fund (IMF) on Thursday (11), the IMF congratulated the country on completing the first review under its program. The IMF highlighted the positive start of the program, recognizing the challenging reforms undertaken by Sri Lanka and their significant impact on the […]

By Ifham Nizam Sri Lanka has made commendable strides towards fiscal discipline, particularly in the area of controlling government spending and managing inflation, Rockefeller International chairman and founder and CIO, Breakout Capital Ruchir Sharma said. Sharma was speaking at a special public lecture in Colombo recently, organized by the Central Bank of Sri Lanka. At […]