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Inflation is projected to remain elevated in the coming months before moderating thereafter, the Central Bank of Sri Lanka said today. The bank said that headline inflation is projected to remain escalated in the near term on account of domestic supply shortages, increased global commodity prices, the effects of the large depreciation of the Sri […]
ECONOMYNEXT – Sri Lanka will shortly impose deposit margins on letters of credit to curtail imports, Central Bank Governor Nandalal Weerasinghe said.“From this monetary policy decision we have re-imposed letter of Credit margin requirement, where all non-essential item importers will have to put money in advance to open LCs., “Governor Weerasinghe said.The circular has already be...
[…]The post A Postscript To Political Crisis: A Way Out appeared first on Colombo Telegraph.
In the rupee interest rates we can give central bank financing to the primary market and through open market operations
[…]The post Mahinda Rajapaksa, A Bankrupt Country & Fifty Years Of Politics appeared first on Colombo Telegraph.
[…]The post Ranil Wickremesinghe’s Sixth (Mis)adventure: An Indisputable Reason For The ‘Aragalaya’ To Stay Alive appeared first on Colombo Telegraph.
Note holding ceiling to be brought down from 15,000 to 10,000 dollars
The Monetary Board of the Central Bank of Sri Lanka has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at the current...Click on the headline to read the full story
The Monetary Board of the Central Bank of Sri Lanka has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at the current levels of 13.50 per cent and 14.50 per cent, respectively.
Policy undermined by printing money for state workers
Market fell for the first time in five sessions
US investment bank JPMorgan backed Sri Lanka’s crisis-hit Government bonds, saying recent political changes in the country should gradually improve its strains and help its talks with the International Monetary Fund. Adding an ‘overweight’ – effectively a buy recommendation – JPMorgan analysts said: “political stability should pave the way for bonds to move high...
People have started street protests demanding cooking gas from the government.
If we do not pay the IMF, World Bank that money will also not come: Sabry
The World Bank has provided US$ 160 million to Sri Lanka to pay for essentials, Prime Minister Ranil Wickremesinghe told the parliament today (May 18).The post Sri Lanka received USD 160 million...Click on the headline to read the full story
Running out of petrol, medicines and foreign reserves, once-booming Sri Lanka is in a mess. And the measures needed to pull its economy out of the unparalleled crisis are likely to bring even more...Click on the headline to read the full story
[…]The post Abortionists Of A Nation’s Rebirth; Sajith Joins Ranil In The Act appeared first on Colombo Telegraph.
[…]The post Holding President And Prime Minister To Their Promises appeared first on Colombo Telegraph.
[…]The post A Child’s Guide To Currency Boards: Why Did Ceylon Give Up The Currency Board, While Singapore Didn’t? appeared first on Colombo Telegraph.
ECONOMYNEXT – Sri Lanka’s commercial banks quote the rupee at 364 against telegraphic transfers on Wednesday (18) while the central bank set a daily guidance rate for interbank spot trade for 359.65 plus or minus 2.50.Banks could quote 2.50 rupees plus or minus under the new direction and the rate is set below the market rates.The kerb rate has also eased after spiking last week.The central bank s...
[…]The post Changing Pillows To Cure Headaches: Government Servants Are Not Gods appeared first on Colombo Telegraph.
"Yesterday we received 160 million dollars from the World Bank. We cannot use it for fuel but we are discussing it."
A petrol ship in Sri Lanka waters but the supplier was owed US$53mn
The World Bank has provided USD 160 million to Sri Lanka and discussions are underway to consider if the funds could be used for petroleum purchases, Prime Minister Ranil Wickremesinghe told the parliament today.
"With the CBSL giving us a new schedule, we have given a promise in writing to make the payments in the next 15 days."
Short term borrowings shot up to 58 billion rupees by March 2022 from 33 billion rupees, from December 2021
By R. R. M. Lilani Many have wondered whether former Prime Minister Mahinda Rajapaksa is on the run for collaborating with the Chinese, which has heightened geopolitical tensions in the South Asian region. He did, however, and his pro-Mahinda group’s attacks on those who tarnished his reputation as a mynah (old man) and created a […]
The current crisis is having far-reaching implications on the ability of women and girls to live in dignity
ECONOMYNEXT – Sri Lanka’s commercial banks quote the rupee at 365 against telegraphic transfers while the central bank set a daily guidance rate for interbank spot trade for 359.75 plus or minus 2.50 for March 17.Banks could quote 2.50 rupees plus or minus under the new direction and the rate is set below the market rates.The central bank stopped quoting day rates on January 23 when the rupe...
To pay the ships we will take action to buy dollars from the free market