By Saman Indrajith Appearing before the COPF (Committee on Public Finance) recently, Dr. Nandalal Weerasinghe said the Central Bank (CB) had no issue with COPF recommendations but it was not possible to implement the COPF recommendation that salary increases at issue be suspended immediately. “The salaries of CB employees for March have already been processed […]

Inflation rate dropped to 5.1 percent in February from 6.5 percent in January, official data showed on Thursday.Food inflation increased from 4.1 percent to 5 percent and non-food inflation dropped from 8.5 percent to 5.1 percent. Sri Lanka’s inflation has been dropping steadily since September 2022, when inflation was at 69.8 percent. The Central Bank […]

After constructive discussions in Colombo, IMF Senior Mission Chief Peter Breuer and Deputy Mission Chief Ms. Katsiaryna Svirydzenka issued the following statement: “The IMF team reached staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement and concluded the 2024 […]

… corruption cited as one of the three issues faced by the country Japanese Ambassador Hideaki Mizukoshi Thursday (21) urged Sri Lanka to turn the continuing economic, political and social crisis into an opportunity to achieve success. The Ambassador said that the country should take advantage of the continuing external pressure to adopt reforms, build-up […]

Following productive discussions, the International Monetary Fund (IMF) and Sri Lankan authorities have achieved a staff-level agreement on economic policies, marking a significant step in concluding the second review of the 4-year Extended Fund Facility (EFF)-supported program and the 2024 Article IV Consultation. This was stated by Mr. Peter Breuer, IMF Senior Mission Chief during […]

By Saman Indrajith The no-confidence motion against speaker Mahinda Yapa Abeywardena was defeated in Parliament yesterday by a majority of 42 votes.The motion moved by the Opposition received 75 votes for and 117 against. The SJB, TNA, JVP/NPP and dissident SLPP MPs voted for the motion, while the MPs supporting the government voted against the […]

The International Monetary Fund (IMF) reached a staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement. The EFF arrangement was approved by the IMF Executive Board for a total amount of SDR 2.3 billion (about US$3 billion) on March […]

By Hiran H.Senewiratne Gloom surrounded the stock market yesterday due to political uncertainties stemming from the no-confidence motion against the Speaker of Parliament Mahinda Yapa Abeywardena and continuing speculation over elections. Consequently, negative investor sentiments manifested themselves. Amid those developments both indices moved downwards. The All Share Price Index went down by 64...

Acknowledging that the independence of the Central Bank of Sri Lanka (CBSL) is an absolutely key pillar under its program, the International Monetary Fund (IMF) has said that it is important to maintain a high degree of transparency to explain how the CBSL s decisions are benchmarked.

The Governor of the Central Bank of Sri Lanka (CBSL) has informed the Committee on Public Finance (COPF) today (March 21) that they accepted all recommendations from COPF report on salary revisions, the Chairman of the COPF, MP Dr. Harsha de Silva said.

The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Sri Lanka covering the period 2024Â2028. The strategy will focus on restoring the country s macroeconomic stability, reviving growth, and establishing the foundation for sustainable recovery and resilience.

The Central Bank of Sri Lanka (CBSL) has raised concerns about the recent trend of using currency notes to prepare ornaments and gift items and promotion of such activities through social media.

Minister Bandula Gunawardena, who was on an official visit to the USA to take part in a conference organized by the World Bank, has returned to the island last night (20), under the directives of President Ranil Wickremesinghe.

The Committee on Public Finance (COPF) has recommended that the Central Bank of Sri Lanka (CBSL) defer the salary increase until a mutually acceptable solution is reached on the matter.

The World Bank has hailed Sri Lanka s 1990 Suwa Seriya ambulance service for saving countless lives while providing citizens the highest level of pre-hospital care.

The Cabinet of Ministers approved the proposal presented by the Minister of Power and Energy to award the procurement for the implementation of Rooftop Solar Power Generation Project at religious places to M/s Premier Energies Ltd for a contract price of US$ 17 million. On 08.01.2024, the Cabinet of Ministers approved the implementation of the […]

Taking into consideration the proposals presented by the Minister of Agriculture and Plantation Industries, the Cabinet of Ministers decided as follows: To import fertilizer through Ceylon Fertilizer Company Limited and Colombo Commercial Fertilizer Company Limited for the 2024 ‘Yala’ season, and sell fertilizer to farmers at concessional prices competitive with the private sector. […]

The Cabinet of Ministers approved the proposal presented by the Minister of Power and Energy to award the procurement for the implementation of Rooftop Solar Power Generation Project at religious places to M/s Premier Energies Ltd for a contract price of US$ 17 million. On 08.01.2024, the Cabinet of Ministers approved the implementation of the […]

The Sri Lankan Rupee (LKR) has appreciated against the US dollar (USD) today (March 19), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee appreciated against U.S. Dollar on March 19, 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.

By Norman Palihawadane Galgamuwa police, on Sunday, nabbed a 48-year-old person for duping over dozen of Lankan women working in West Asian countries by promising to marry them and cheating them of out millions of rupees. The suspect posed as an army officer. Galgamuwa OIC Chief Inspector M. M. S. Pushpakumara said that they had received a […]