Upon completion of its mission to Sri Lanka, the International Monetary Fund (IMF) review team has said that maintaining the economic reform momentum and ensuring timely implementation of the IMF-supported programme’s commitments are essential for Sri Lanka to emerge from the current economic crisis. The mission discussed recent economic developments and the implementation of the […]

In a bid to address the challenges faced by welfare beneficiaries in receiving their allowances, the Welfare Benefits Board says it has decided to implement a direct crediting system effective from July.

By Norman Palihawadane Police commandos have arrested three persons with a stock of ICE (crystal methamphetamine) and Kerala cannabis. The suspects work for two organised criminals and drug traffickers who run the drug network in Sri Lanka, from abroad, according to the police. During two separate raids, conducted in Gampaha and Seeduwa, recently, the STF […]

Sri Lanka is among three South Asian governments that increased borrowing from domestic banks to finance their record debt, and, as a result, sovereign-bank nexus increased, heightening the financial sector’s vulnerability, according to a World Bank report. The other two countries are the Maldives and Pakistan, says a WB report, titled ‘A mixed bag for […]

By Hema Senanayake [email protected] IMF has an ideology, a system of ideas and ideals which forms the basis of its decisions and policy prescriptions for which the recipient country of the loan claims as of its own. The most important idea does not originate from economic theory but international trade theories instead. The Great Recession […]

ECONOMYNEXT –The main opposition SJB would fight to defeat the government’s plans to restructure domestic debt, opposition leader Sajith Premadas said, offering the opposition’s assistance in sending a strong message to the international community. Premadasa said at a meeting with representatives of the Ceylon Bank Employees’ Union on Thursday May 18 that the opposition is […]

Tourism is bouncing back after the Easter attack, Covid-19 pandemic and the aftermath of the economic stake holders are optimistic and working hard towards a better future.The General Manager of Shangri-la Hambantota Refhan Razeen welcomed 2023 with a positive note with much expectations this year. having overcome the challenges of the past years. We Sri […]

The Central Bank of Sri Lanka (CBSL) says the Banking Act directions made by its Monetary Board on cash margin deposit requirements against imports have been revoked.

The government has decided to register the Samurdhi banking system as a microfinance banking system of the Central Bank of Sri Lanka (CBSL) in order to provide the ÂAswesuma welfare benefit for the people.

The Central Bank of Sri Lanka (CBSL) has issued an all-time high volume of Rs.180 billion treasury bills today (17).

The Sri Lankan Rupee further appreciated against the US Dollar today (17 May), the Central Bank of Sri Lanka (CBSL) reported.

By Shamindra Ferdinando Opposition spokesperson Prof. G. L. Peiris has alleged that two new laws that dealt with terrorism and corruption were meant to consolidate the Wickremesinghe-Rajapaksa regime. The former External Affairs Minister discussed the government’s agenda pertaining to the proposed Anti-Terrorism Bill and Anti-Corruption Bill. He said the Anti-Corruption Bill was actually meant to ...

The progress made thus far pertaining to the reforms within Sri Lanka s power sector were discussed with the Executive Director at the World Bank Group representing Bangladesh, Bhutan, India and Sri Lanka, Parameswaran Iyer.

The Sri Lankan Rupee further appreciated against the US Dollar today (16 May), the Central Bank of Sri Lanka (CBSL) reported.

CPC, CEB need to recover costs until end of Fund’s loan package By Rathindra Kuruwita The Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB) had to recover costs until the end of the IMF programme, Sarwat Jahan, IMF Resident Representative in Sri Lanka, told a press conference in Colombo yesterday. The IMF also wanted the […]

Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, recorded positive consolidated revenues of Rs. 26.6 Bn for Q1 2023, an increase of 2.1%, compared to the same period last year, led by robust growth at company level from SLT, demonstrating resilience and optimism in the future undeterred by the challenging environment. The […]

by Norman Palihawadane Colombo Archbishop Malcolm Cardinal Ranjith said that there was no point Sri Lanka getting loans from World Bank or the International Monetary Fund if the people who handle those funds continue to be the fraudsters. Then the plight of the country and its people’s will remain the same. Delivering his homily at […]