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 […]

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.

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 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 […]

The administration of the Central Bank of Sri Lanka has commenced discussions with the employees regarding the possible reduction of their increased salaries by a certain percentage, according to sources.

The Asian Development Bank (ADB) has approved a $100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change.

ECONOMYNEXT –State-run Ceylon Electricity Board is losing qualified engineers at an alarming rate, after a currency collapse and new progressive taxes slapped on the debased salary, and they are not coming back, union officials said. Ceylon Electricity Board has a cadre of around 1,000 engineers but they have been usually managing with lower levels of […]