Minister of Transport and Highways and Minister of Mass Media Dr Bandula Gunawardena at a press briefing held at the Presidential Media Center today (30) said that the earliest Sri Lanka can recover from bankruptcy is in 2027, at which time it is envisaged that the countries foreign reserves which stand at USD 3.5 billion […]

The French Development Agency’s (Agence Française de Développement also known as AFD) Regional Directorate is strengthening its base in Sri Lanka in line with the commemoration of 75 years of diplomatic relations between Sri Lanka and France. It also marks the enduring partnership between AFD Group and its Sri Lankan partners, which began in 2005 […]

By Hiran H. Senewiratne The trading activities at the Colombo Stock Exchange witnessed a positive trend yesterday after a negative streak in the past few days, following the much anticipated debt restructuring deal between Sri Lanka and its official creditors. “The Official Creditor Committee (OCC) and Sri Lanka agreed on the main parameters of a […]

SLPP leader Mahinda Rajapaksa yesterday (28) hit back at critics, claiming that a robust economy had been built under his presidency. He said the UNP-SLFP government which ruled the country during the 2015-2019 period should be held responsible for the current economic crisis. The following is the text of a statement, titled ‘the origins of […]

Last week, we delved into a significant event in New Zealand, where a group of affluent individuals expressed a willingness to voluntarily pay more taxes, only to have the tax authority reject their offer. This incident prompts questions about the fairness of the current tax system, particularly in relation to the lower tax rates paid […]

By Rathindra Kuruwita The Cabinet of Ministers has approved the signing of a loan agreement with the Asian Development Bank to borrow 60 million US dollars to complete the Integrated Road Investment Program (IRIP), cabinet spokesman Bandula Gunawardena told reporters on Tuesday. Addressing a press conference, Gunawardena said the IRIP was implemented using loan funds […]

State Minister of Finance Shehan Semasinghe yesterday (28) said that investigations were still continuing into the alleged disappearance of Rs. 5 million from the Central Bank of Sri Lanka (CBSL). The State Minister stated that the CBSL initiated an internal investigation into the matter, while the Criminal Investigation Department (CID), too, initiated a separate probe. […]

The Government of Sri Lanka says it is planning to borrow USD 60 million from the Asian Development Bank (ADB) under the Second Integrated Road Investment Program (Tranche 4) to finance carrying out the critical works of the already commenced and incompleted road sections

State Minister of Finance Shehan Semasinghe has revealed that several investigations are currently underway into the alleged misplacement of Rs. 5 million within the Central Bank of Sri Lanka (CBSL).

By Hiran H.Senewiratne ‘Since local inflation has declined faster than expected, the CBSL Monetary Board has decided to reduce policy interest rates by 100 basis points to enable the economy to reach its true potential, CBSL Governor Dr. Nandalal Weerasinghe said at the monthly monetary policy review meeting held on November 24th at the Central […]

by Jehan Perera The government is facing an uphill task to rebuild the country which continues to be in a state of economic and moral decline which was evident in parliamentary proceedings last week. The initial hopes of a quick transition from the economic and moral decline that accompanied the pre-Aragalaya period ended with the […]

Monday 27th November, 2023 The SJB has commenced collecting signatures for a public petition as part of a campaign to have those who are responsible for the current economic crisis stripped of their civic rights. Given public resentment, which is palpable, the SJB may be able to obtain hundreds of thousands of signatures for its […]

The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on Thursday, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 9.00 per cent and 10.00 per cent, respectively, CBSL said in a […]

ECONOMYNEXT –Former minister, MP Rauff Hakeem has opposed Sri Lanka’s plans to send 10,000 workers to belligerent Israel.Cabinet spokesman minister Bandula Gunawardena said this week that cabinet approved a plan to send workers to Israel’s agriculture sector. “Sending our workers to a country that is committing war crimes is like sending workers to Nazi Germany, […]

Central Bank Governor Dr. Nandalal Weerasinghe told journalists on Friday (24) that he was confident that the IMF would approve the second tranche of its Extended Fund Facility (EFF) in December 2023. Dr. Weerasinghe said Sri Lanka was making good progress and he was confident that the official bilateral creditors, the Official Creditor Committee (OCC) […]

The Monetary Policy Board of the Central Bank, at its meeting held on Thursday (23), decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 9.00 percent and 10.00 percent, respectively, CB said in a press release. It said: […]

Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe has revealed that the second tranche of the Extended Fund Facility (EFF) offered by the International Monetary Fund (IMF) is expected to be received in December.