Reuters: If the World Bank is correct, 2012 will see the second slowest year of global economic growth in a decade, at a level consistent with a world recession that, like the 2008/2009 financial crisis, would not spare Asia. Its sister organisation, the International Monetary Fund, warns

By Chamitha Kuruppu The two main opposition parties yesterday blamed the Government for making false promises to the people and called the fuel subsidy was just another gimmick of the Rajapaksa administration. The United National Party accused the Government, claiming the fuel subsidy for the private transport services and fisheries sector was nothing but a ...

Reuters: China has no intention of ‘buying up’ or ‘controlling’ a debt-ridden Europe that it still has confidence in, and any help Beijing may offer will be for purely economic reasons, a top state-run newspaper said on Monday ahead of a China-EU summit. While Chinese leaders have repeatedly expressed confidence in European nations, they have ...

Whatever planetary conjunctions may come into formation two Full Moons before the Sinhala New Year for President Mahinda Rajapaka and his clan, the economic and political clouds are already gathering ominously over this usually sunny isle. The alleged war crimes allegations have come around for the third time this year in a vicious form. US ...

Despite the Central Bank’s previous announcement that the US$2.6 billion Standby Arrangement with the International Monetary Fund (IMF) would be terminated, the government has said it hoped to sign a new Letter of Intent next month to obtain the balance US$800 million.

Reuters: The International Monetary Fund (IMF) on Friday welcomed Sri Lanka’s policy shift towards a flexible exchange rate, saying it will help contain the trade deficit and protect the nation’s dwindling foreign exchange reserves. In a marked policy shift, Sri Lanka’s Central

Despite the Central Bank’s previous announcement that the US$2.6 billion Standby Arrangement with the International Monetary Fund (IMF) would be terminated, the government has said it hoped to sign a...

Monetary Fund have been exasperated by a string of ...

Feb 10, Colombo: The International Monetary Fund (IMF) has welcomed the decision taken by the Central Bank of Sri Lanka to stop intervening in the rupee exchange rate and allow the market to determine the rate instead.

Reuters: The glass is half full again for Asia’s economies. Some economists have begun downplaying the darkest of the worst-case scenarios for Asia now that Europe appears to be muddling through its debt crisis without imploding and the United States finally shows signs of a self-sustaining recovery. That doesn’t mean Asia’s economic growth is about ...

 PM resigns after weeks of anti-government protests Existing coalition set to continue under new PM Parliamentary election due by November IMF sees no change in bailout deal BUCHAREST (Reuters): Romanian Prime Minister Emil Boc resigned on Monday, joining a list of European leaders felled by fury at the kind of spending cuts that prompted weeks ...

On the 30th of January, Sri Lanka’s Central Bank announced that it would not draw down the withheld 800 million US dollars (USD) of its International Monetary Fund (IMF) standby facility citing its high interest rate.

By Sulochana Ramiah MohanThe International Monetary Fund (IMF) on Friday said a strong rebound in domestic demand supported in part by increased bank lending resulted in a larger-than-anticipated surge in imports, causing the current account deficit to widen significantly in 2011, despite healthy

The International Monetary Fund has lauded Sri Lanka’s economic programme. It said they appreciated the Government’s dedication to convert loss making establishments viable. The IMF mission which was in Sri Lanka held a media conference in Colombo today before leaving the island. Chief of the IMF

The Central Bank of Sri Lanka (CBSL) announced on Friday that it had raised policy rates for the first time since 2007 in a bid to check runaway credit growth, but the International Monetary Fund did not seem very impressed.

(Srilankamirror) -The International Monetary Fund says it is encouraged by Sri Lanka's monetary and exchange rate policy changes amid a sharp drop in foreign exchange reserves and significant widening of the current account deficit. "There was broad agreement that a decisive policy

Feb 03, Colombo: The International Monetary Fund (IMF) has commended the Sri Lanka Central Bank's to raise the monetary and exchange policy rates and the government's commitment to reduce the budget deficit.

The International Monetary Fund (IMF) on Friday said it was encouraged by Sri Lanka's monetary and exchange rate policy changes amid a sharp drop in foreign exchange reserves and significant...

Sri Lankan economy is growing very strongly, the decision to devalue the Rupee is a step in the right direction, the International Monetary Fund said today.

Foreign-owned firms allowed to do margin providing Slide at Colombo Bourse continues though net foreign inflow a redeemer The Colombo stock market continued its slide, down over 7% year-to-date, whilst the Central Bank yesterday gave a fresh boost by allowing foreign owned firms to do margin providing for investors. The move to permit foreign firms ...

Sri Lanka’s share market fell more than 1 percent on Thursday, erasing 28 billion rupees ($245.83 million) of value, a day ahead of the central bank’s monetary policy announcement and expected International Monetary Fund comments on the economy.

By Shihar Aneez and Ranga Sirilal Reuters: Sri Lanka may take action to cool down continuing high credit growth in the economy which has caused some concern, the island nation’s central bank governor said on Wednesday. Central Bank Governor Ajith Nivard Cabraal also said the country will sell a $1 billion eurobond this year as ...

COLOMBO — Sri Lanka said Tuesday it did not need the final tranche of a $2.6-billion IMF bailout thanks to the country's healthy foreign exchange reserves.   The loan was granted in 2009 by the International Monetary Fund just after the end of the country's bloody ethnic civil war

Reuters: Sri Lanka’s share market closed weaker on Tuesday, ending a four-session rally as investors booked profits in financial and blue chip shares amid low volumes and turnover, dealers said. The main share index ended 1.07 per cent or 61.64 points weaker at 5,693.92, from its highest since 23 January. Analysts said institutional investors are ...

WASHINGTON: China could easily boost domestic consumption to stimulate its economy if its slowdown is too sharp, the International Monetary Fund said Monday. IMF representative for Asia Anoop Singh said Europe’s plunge into recessionary conditions could pose a challenge for Beijing

It will not draw last tranche of US$800mil due to high interest rate by the global lender Sri Lanka, which is locked in a row with the International Monetary Fund over its exchange rate policy, will not draw the remaining US$800mil of a US$2.6bil loan from the global lender due

The  Central Bank has opted not to draw $800 million, the final balance of the International Monetary Fund’s Standby Arrangement as the interest rates are high, CB Governor Ajith Nivard Cabraal said.   He made the observation when President Mahinda Rajapaksa met with Foreign correspondence

Jan 31, Colombo: Sri Lanka Opposition Leader Ranil Wickremasinghe says that the International Monetary Fund has rejected to release the last tranche of the IMF stand-by arrangement since the government failed to maintain the stability of the economy.

COLOMBO: Sri Lanka, which is locked in a row with the International Monetary Fund over its exchange rate policy, will not draw the remaining US$800mil of a US$2.6bil loan from the global lender due to the high interest rate, the governor of the central...

Jan 31, Colombo: A legislator of Sri Lanka's main opposition United National Party (UNP) has dismissed statements made by Central Bank Governor Ajith Nivard Cabraal on the International Monetary Fund stand-by arrangement (SBA).