Friday 5th August 2022 Sri Lanka’s struggle to shore up its crumbling economy continues, and there are no signs of promised foreign assistance materialising anytime soon. The Cabinet has just retained the services of some foreign firms for external debt restructuring, which is one of the main conditions for the IMF bailout package. When the […]

Yields in government securities down for the second day after weekly treasury bill auction

ASPI up 163.10 points

Pure floating exchange rates and a fixed exchange rate with a currency boards are free-market mechanisms

ECONOMYNEXT – Sri Lanka’s Yupun Abeykoon has bagged the Bronze at the men’s 100 metre event at Commonwealth Games 2022 as his country reels from the worst currency crisis in the history of the island’s 72-year old central bank.Abeykoon won bronze clocking the 100 metres at 10.14 seconds, just behind South Africa’s Akani Simbine at 10.13 percent and Kenya’s Ferdi...

…challenges Prez to bring down fugitive Mahendran Declaring that President Ranil Wickremesinghe, in his maiden policy statement delivered in Parliament yesterday, hadn’t said anything new or offered any hope for the country, JVP leader Anura Kumara Dissanayake said that an administration formed by Ranil-Rajapaksa camp couldn’t be considered an All-Party Government under any circu...

by Chandre Dharmawardana, chandre.dharma@yahoo.ca. The forex crisis had forced the government to jettison its initial set of economic managers of the Central bank who looked for home-grown solutions and opposed dealing with the International Monetary Fund (IMF). The President re-instated a set of managers whose ideas were more orthodox and aligned with the neo-liberal bankers […]

Analysts said the President policy statement was a sentiment booster in the market.

Calls for unity in a country torn apart by nationalism and monetary instability

We have communicated this to our membership and is willing to support the CBSL

Sri Lanka to negotiate with state creditors first

assport of a British national, Kayleigh Fraser, who had posted about the protests on social media, seized

by Jayampathy Molligoda Inflation is too high in Sri Lanka; people are finding it unbearable. How can we control the inflation from further slipping? Singapore experience and structure of our CBSL:  Singapore has the Monetary Authority Singapore (‘MAS’) as their Central Bank, where in Sri Lanka, we have the Central Bank of Sri Lanka (which […]

By Kalinga Tudor Silva One of the important ways, the current economic crisis in Sri Lanka has directly impacted our lives is having to go through long and seeming unending queues, to access petrol, diesel, kerosene and even our dear passports. Queues have multiplied, sprung up on either side of the road and across the […]

Despite US dollar shortage, rupee guidance rate remain steady

Reserves depleted for debt repayment, imports and some capital flight

A fighting run a ball, 75 runs partnership for the seven wicket between Anuk Fernando (74 not out in 89 balls, inclusive of a six and 6 fours) and Koshan Abeywickrama (50 in 36 balls, inclusive of 4 sixes and 1 four) guided Fairfirst Insurance to a heart stopping two wickets win over Maliban Biscuit […]

By AJA Abeynayake The Supreme Court yesterday extended a travel ban imposed on former Prime Minister Mahinda Rajapaksa and former minister Basil Rajapaksa until 04 August. The ban was extended when a FR case filed over the economic crisis was taken up by the Supreme Court. A motion was filed on 13 July seeking an […]

by Sanath Nanayakkare As the 3rd and 4th quarters of the Year 2022 are also likely to gravitate towards a tough time, the Bank of Ceylon needs to continue to focus on efficient handling of its resources and finances, BOC Chairman Kanchana Ratwatte said yesterday. He made these remarks when the Bank marked its 83rd […]