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Earnings from exports in 2022 surpassed USD 13 billion per year for the first time, recording an increase of 4.9% from the previous highest recorded in 2021, the Central Bank of Sri Lanka (CBSL) says.
The International Monetary Fund (IMF) has approved loans of $4.7 billion to Bangladesh for disbursal starting immediately, making it the first to secure such funds out of three South Asian countries that applied last year amid economic trouble.The post Bangladesh secures $4.7 billion from IMF as other South Asian countries see delays appeared first on Sri Lanka News - Latest Breaking News in Sri L...
Sri Lanka's Central Bank Governor Dr. Nandalal Weerasinghe said regardless of the future elections, he wants to see a continuation of the economic reform path the country has embarked on, as it is the only way to come out of the current crisis.The post Sri Lanka’s Central Bank insists on staying on reform path regardless of election outcome appeared first on Sri Lanka News - Latest Breaking ...
Holders of Sri Lanka’s foreign bonds want more clarity on the nation’s local-currency debt before they sit down for formal restructuring talks, according to people familiar with the situation.The post Sri Lanka creditors seek clarity on local bonds for debt talks – report appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka was found to be more corrupt in 2022 than it was in the year 2021, according to the 2022 Corruption Perceptions Index (CPI). The 2022 Corruption Perceptions Index (CPI) released by Transparency International saw Sri Lanka’s rankings drop by 1 point in 2022 from the year 2021. The CPI has ranked Sri Lanka […]
[…]The post Hasalaka Thushara, Ayn Rand & An Instance Of Atlas Choosing To Shrug Himself appeared first on Colombo Telegraph.
Sri Lankan Minister of Foreign Affairs Ali Sabry has held talks with ministers and senior officials in Saudi Arabia, as the crisis-hit island nation seeks to boost cooperation with the Kingdom and other Gulf countries.The post Sri Lanka seeks to boost ties with Saudi Arabia and Gulf nations appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post There’s No Statute Of Limitations On Crimes Against Humanity appeared first on Colombo Telegraph.
By Easwaran Rutnam China’s offer to Sri Lanka of a two-year moratorium on its debt is not sufficient to clear the path for the International Monetary Fund (IMF) to approve a funding program, diplomatic sources told Daily Mirror. Sources said that the IMF requires more assurances from China in order to secure IMF board approval […]
[…]The post Continuing With Tight Monetary Policy: Is The Central Bank Making A Mistake? appeared first on Colombo Telegraph.
[…]The post Big Fishes In Little Ponds: The Government’s & Civil Society’s Rightward Tilt appeared first on Colombo Telegraph.
[…]The post Fear Corrupts Politicians: Time To Repeal Custom-Made Laws appeared first on Colombo Telegraph.
International Monetary Fund (IMF) Executive Director Dr. Krishnamurthy Subramanian has said the political will displayed by the Sri Lankan leadership to speed up reforms and implement difficult tax increases in order to revive the economy is highly appreciable, according to a statement issued by Prime Minister Dinesh Gunawardena’s Office yesterday (26) Dr Subramanian, who called […]
China’s Export-Import Bank of China (EXIM) has provided Sri Lanka with a debt extension, China’s Foreign Ministry said, confirming a Reuters report earlier this week. EXIM offered Sri Lanka a two-year moratorium on its debt and said it would support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according […]
China s Export-Import Bank of China (EXIM) has provided Sri Lanka with a debt extension, China s foreign ministry said on Thursday, confirming a Reuters report earlier this week.
Debt-ridden Sri Lanka on Wednesday (January 25) thanked India for issuing the necessary guarantees sought by the IMF that would help Colombo to unlock the USD 2.9 billion bailout package.The post Sri Lanka thanks India for giving assurances to IMF for USD 2.9 Billion bailout package appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
While implementing complex programmes such as the International Monetary Fund (IMF), difficult decisions related to it should be implemented regardless of who is in power, Central Bank Governor Dr. Nandalal Weerasinghe said on Wednesday (January 25).The post IMF process should continue whoever is in power – Central Bank Governor appeared first on Sri Lanka News - Latest Breaking News in Sri ...
By Hiran H. Senewiratne The Central Bank did not contract the economy by hiking interest rates, but prevented a further contraction and possible hyper- inflation by stabilizing the external sector with high rates, Central Bank Governor Dr. Nandalal Weerasinghe said. “The Central Bank by tightening monetary policy, minimized the damage that was going to happen […]
By Sanath Nanayakkare Governor of the Central Bank Dr. Nandalal Weerasinghe said yesterday that the CBSL was not in any way connected to the matter of holding local government elections. Dr. Weerasinghe said so responding to a question from journalists as to how the Central Bank viewed the possibility of holding the local government elections […]
An agreement has been reached not to enforce power cuts during the 2022 GCE Advanced Level examinations. The Chairman of the Public Utilities Commission of Sri Lanka (PUCSL), Janaka Ratnayake said that an agreement was reached not to enforce power cuts until 17th February. Accordingly, he said that based on the agreement, power cuts should […]
The Colombo Magistrate s Court today (25 Jan.) ordered the release of the former Governor of the Central Bank of Sri Lanka (CBSL), Ajith Nivard Cabraal, from a case filed by Ven. Thiniyawala Palitha Thero.
The Central Bank of Sri Lanka (CBSL) is hopeful that the International Monetary Fund (IMF) will be able to receive financial assurances from all of Sri Lanka s creditors pertaining to the island s debt restructuring plan in a very short period, Governor Dr. Nandalal Weearsinghe stated.
[…]The post Will India Be The Game Changer For RW? appeared first on Colombo Telegraph.
Any government which was detached from people's true aspirations cannot bring in economic recovery through measures such as imposing taxes, National People Power (NPP) leader Anura Kumara Dissanayake said yesterday.The post Government detached from people’s aspirations cannot bring in economic recovery – Anura appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLAN...
The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50% and 15.50%, respectively.The post Sri Lanka’s Central Bank holds policy interest rates at current levels appeared first on Sri Lanka News - Latest Breaking News in Sri L...
Sri Lanka’s gross official reserves stood at an estimated US dollars 1.9 billion by the end of 2022, the Central Bank of Sri Lanka said today. The bank said that the gradual improvement in workers’ remittances, together with the revitalisation of tourism, helped improve the external current account balance in recent months while easing excessive […]
Four individuals wearing masks have completely dismantled and removed an ATM machine from a private bank on the Kandy Road in Gampola last night, police said.The post ATM machine stolen from a bank in Gampola appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50% and 15.50%, respectively.
USD 3 mn Japanese grant attached to ongoing project By Shamindra Ferdinando An agreement on the much advertised cash assistance, provided exclusively to paddy farmers by the Wickremesinghe-Rajapaksa government, was finalised several weeks before then President Gotabaya Rajapaksa stepped down on July 14, 2022 amidst violent protests. The Asian Development Bank (ADB) has provided the […]
By Saman Indrajith Interest rates could be relaxed with a cash infusion via the IMF, the Central Bank officials, including Governor Dr. Nandalal Weerasinghe, told the Committee on Public Finance (CoPF) recently. Dr. Weerasinghe said high interest rates had been adopted to limit growth to prevent the need for greater foreign exchange given the dwindling […]