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The Central Bank of Sri Lanka (CBSL) and the government has decided to maintain the inflation rate of around 5% in the future, in accordance with the new CBSL Act, Governor Dr. Nandalal Weerasinghe said today.
Sri Lanka's central bank resumed interest rate cuts on Thursday to boost growth and as the government seeks to lift revenue and repair its balance sheets in a bid to secure continued financial support from the International Monetary Fund.The post Sri Lanka resumes rate cuts to boost growth as inflation cools appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The level of gross official reserves of the country were estimated at around USD 3.5 billion as of the end of September 2023, according to the Central Bank of Sri Lanka (CBSL).
The Central Bank of Sri Lanka has further reduced policy interest rates by 100 basis points, at the first monetary policy review by the Monetary Policy Board under the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA). In this review, the Board decided to reduce the Standing Deposit Facility Rate (SDFR) and […]
The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 10.00% and 11.00%, respectively.
By Saman Indrajith President Ranil Wickremesinghe told Parliament yesterday that the government was planning to place the Employees’ Provident Fund (EPF) and the Employees’ Trust Fund (ETF) under a new independent body. The President said part of the EPF and ETF monies should be invested abroad. Responding to a question raised by SJB MP Eran […]
The World Bank predicts that Sri Lanka’s poverty will increase to 27.9 percent in 2023 from 25 percent in 2022 as the country continues to suffer from the most extreme deployment of ‘macro-economic policy’ in the history of its central bank. The World Bank in a report titled ‘Sri Lanka Development Update: Mobilizing Tax Revenue […]
[…]The post Sri Lanka At A Crossroads: The IMF’s 16-Point Prescription For Reform appeared first on Colombo Telegraph.
Former Central Bank governor Ajith Nivard Cabraal and former Presidential Secretary Lalith Weeratunga have been released from the case filed by Ven. Thiniyawala Palitha thero over alleged public funds misappropriation.The post Court dismisses misappropriation case against Ajith Nivard Cabraal and Lalith Weeratunga appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
To all fashion enthusiasts, the name Don Kevan (@mensfashionsl) definitely rings a bell. A TikTok influencer hailing from the scenic city of Kurunegala, he has taken the fashion world by storm with his unique content tailored for the everyday Sri Lankan male. Through his inspiring content, he aims to elevate style and creativity among his […]
The Sri Lanka Freedom Party (SLFP) is desperate to reach a consensus with political parties in the Opposition. But the Opposition is very much reluctant to do so due to the SLFP leader Maithripala Sirisena’s fickle past and now again under intense fire over the 2019 Easter Sunday attack. Field Marshal Sarath Fonseka, no stranger […]
The World Bank revised up its forecasts for Sri Lanka's economy on Tuesday, noting the crisis-hit nation had made strides in reducing inflation and had benefited from tourism revenue as well as an appreciation in its currency.The post World Bank boosts Sri Lanka economic forecasts after inflation progress appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The World Bank revised up its forecasts for Sri Lanka s economy on Tuesday, noting the crisis-hit nation had made strides in reducing inflation and had benefited from tourism revenue as well as an appreciation in its currency.
Sri Lanka recorded over USD 1,000 million in export revenue in the month of August 2023, making this the highest export revenue earned in a month for this year, according to the Central Bank of Sri Lanka.
The US government said a bondholder’s lawsuit against Sri Lanka over the country’s historic debt default should be put on hold.The post Sri Lanka Bondholder Lawsuit Should Be Put on Hold, U.S. Says appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Hiran H.Senewiratne Leading US-based international trade finance services provider, iBEX Global, will officially set up in Sri Lanka soon. Chairman and founder of iBEX Global, based in Atlanta, Georgia, Maverick Robinson who is currently in Sri Lanka, at a special event held recently at Galle Face Hotel, said that Sri Lanka is the third […]
[…]The post Are We Rotting Or Rotten? appeared first on Colombo Telegraph.
The International Monetary Fund (IMF) has recommended sixteen priority actions in its recently released Governance Diagnostic Assessment (GDA) on Sri Lanka to address systematic and severe governance weaknesses and deep-rooted corruption vulnerabilities across State functions in order to unlock the country’s growth potential.The post IMF unveils 16-point plan to address governance challenges in Sr...
[…]The post Has The Economy Been Assassinated & If So, Who Were The Assassins? appeared first on Colombo Telegraph.
The West has labeled China’s Belt and Road Initiative as a cohesive program, and the participating countries like Sri Lanka are looked upon with suspicion, President Ranil Wickremesinghe said on Thursday (28) at the Berlin Global Conference. “This will further hurt economic prospects in the global South, and the polarization will become more evident,” he […]
By SHIHAR ANEEZ ECONOMYNEXT –Sri Lanka’s second tranche of a $3 billion loan from the International Monetary Fund is likely to be delayed as the country has failed to meet the program objective and a global lender’s official said there is no fixed timeline on the disbursement of second tranche. Sri Lanka’s government revenue is likely […]