Sri Lanka says it has reached an agreement on the key principles and indicative terms of a debt treatment with the Export-Import Bank of China (Exim Bank).

… asks for early cross-party consensus By Shamindra Ferdinando Former Governor of the Central Bank Dr. Indrajith Coomaraswamy yesterday (11) threw his weight behind the International Monetary Fund’s (IMF) call for far reaching measures meant to stabilize the economy. The Washington headquartered lending agency recently suspended the US 2.9 bn bailout package, pending an agreement […]

The recent Global CEO Forum Sri Lanka took place at the Galadari Hotel, featuring over 350 prominent business leaders, including chairpersons, directors, CEOs, and other C-level executives. The event centered around the themes of “Leadership in Turbulent Times” and “Shaping the Future of Business in Sri Lanka.” It was a privilege to have Dr. Nandalal […]

In late September, the Export-Import Bank of China had tentatively agreed with Sri Lanka on the debt treatment, Chinese Foreign Ministry Spokesperson, Wang Wenbin said on Tuesday (10) during his regular press conference. He said this answering a question posed by a journalist from China Central Television (CCTV). CCTV: “Sri Lanka’s debt restructuring is at […]

Output growth of South Asian countries, except Sri Lanka, is projected to remain stronger than in other regions of the world in the coming years, as per the World Bank’s latest South Asia Development Update, ‘Toward Faster, Cleaner Growth’. Growth in the region is stronger than elsewhere in the world, but it is nonetheless not […]

The members of Board of Governors of the Asian Development Bank (ADB) have held a detailed discussion with Prime Minister Dinesh Gunawardena on Sri Lanka s financial requirements for projects for the next 5 years.

USD 73 mn down the drain? The US Embassy is on record as having said that USAID conducted a project at a cost of USD 73 mn during the Yahapalana administration (2015-2019) to enhance the efficiency of lawmakers and be responsive to the people they represent. In terms of this project, 50 Research Assistants of […]

China said one of its financial institutions has reached a preliminary agreement with Sri Lanka on resolving China-related debt, a potentially major step toward resolving the South Asian nation s fiscal woes.

Not all countries in the region are growing fast, and three—Afghanistan, Pakistan and Sri Lanka—are in acute crisis South Asia has emerged as a beacon of hope in the global economy, with the World Bank predicting that the region will outshine other developing regions in the years to come. However, a deeper dive into the […]

The Supreme Court, on Friday, granted permission for Transparency International Sri Lanka (TISL) to intervene in Case No. SC/FR 168/2021, which seeks fair compensation for the victims of the X-Press Pearl disaster. The decision came after a heated legal battle that saw the Attorney General’s office strongly opposing the TISL’s involvement. Earlier this year, TISL filed […]

Earlier this year, Transparency International Sri Lanka (TISL) filed an intervention petition in the Supreme Court, seeking permission to intervene in Case No. SC/FR 168/2021, which was filed by the Centre for Environmental Justice seeking fair compensation for the victims of the XPress Pearl disaster. The Attorney General strongly objected to the intervention. On Friday […]

By Rathindra Kuruwita Sri Lanka has made good progress in debt restructuring discussions with China, and negotiations with all parties will be concluded around the same time, Governor of the Central Bank, Dr. Nandalal Weerasinghe says. Addressing the media in Colombo on Thursday, Dr. Weerasinghe, in answer to a question posed by a journalist, denied […]

The Monetary Board of the Central Bank has decided to reduce the Standing Deposit Facility Rate and the Standing Lending Facility Rate by 200 basis points to 10.00 percent and 11.00 percent respectively, a statement from it said on Thursday. The central bank said it took this decision at the monetary board meeting held on […]

Friday 6th October, 2023 President Ranil Wickremesinghe’s recent interview with Deutsche Welle (DW), in Berlin, has been trending in the digital realm—not for all the right reasons, though. Thanks to it, the genre of interrogative interview has apparently taken on a whole new meaning, with the interviewee aggressively interrogating the interviewer! There was obviously much […]

By Neville Ladduwahetty President Ranil Wickremesinghe eloquently outlined the current global economic crisis affecting the developing world, in particular the Global South, during his speech at the Berlin Global Dialogue. In the course of his presentation he conveyed the fact that while the developed countries may have the strength and resources to weather the challenges, […]

By Hiran H.Senewiratne CSE shares were trading up and positive last morning but that momentum could not be sustained for long because investors expected the Central Bank to cut policy rates by 200 basis points but they ended up with only 100 basis points. The stock market on previous days managed to close on the […]

By Hiran H.Senewiratne Sri Lanka’s current inflation rate is around 1.3 percent and with the stabilizing of the economy the Central Bank is to maintain a dovish monetary policy stance, Central Bank Governor Dr. Nandalal Weerasinghe said. “The Central Bank has signed an agreement with the government to maintain inflation at 5 percent with a […]

The Truly Sri Lankan Bank, Pan Asia Bank, demonstrated its commitment for the nation by launching a special Credit Card for government pensioners who served the nation for many years, by keeping its brand promise as ‘The Truly Sri Lankan Bank’. The new offering – ‘Sammana Credit Card’ – is packed with attractive discounts and […]

President Ranil Wickremesinghe addressed the 5th Forum of Ministers & Environment Authorities of the Asia Pacific at the Shangri La Hotel in Colombo today (05), delivering a passionate speech that emphasized three crucial points: the urgency of the climate crisis, Sri Lanka’s ambitious climate plans and the dire state of global biodiversity. President Wickremesinghe opened […]

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Fitch Ratings has affirmed Bank of Ceylon s (BOC) Long-Term Local-Currency Issue Default Rating (IDR) at CCC- and removed it from Rating Watch Negative (RWN). The Outlook is Stable.

The Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe has assured that no decision pertaining to the restructuring of state banks has been made thus far.