ECONOMYNEXT –Sri Lanka’s economy is starting to recover under a stabilization program, and further progress has to be made on debt restructuring while monetary policy decisions have to be prudent to keep inflation down, an International Monetary Fund official has said. “A swift completion of final agreements with official creditors and reaching a resolution with […]

…. asks whether IMF is blind By Shamindra Ferdinando Dissident SLPP MP Gevindu Cumaratunga faults Parliament for continuing to allow a special category of EPF (Employees’ Provident Fund) recipients, created since 2022, regardless of the matter being brought to the attention of Parliament. Addressing the media at Sri Sambudhathva Jayantha Mandiraya, Cumaratunga said that in […]

The economic reform programme, implemented by the Sri Lankan authorities is yielding the first signs of recovery with positive real GDP growth in the third quarter of 2023, low inflation, increased revenue collection, and a build-up of external reserves, the IMF has said. Staying the course on the reform agenda is necessary for this stabilization […]

President Ranil Wickremesinghe addressing the 19th Non-Aligned Movement (NAM) Summit in Kampala, Uganda said that Non-aligned nations, once perceived as weak states, have evolved beyond that characterization. He also expressed gratitude to President Museveni and Uganda for hosting the summit. Following is the full speech delivered by President Ranil Wickremesinghe; “Let me begin by congratulating ...

by Dr Amali Wedagedara In Sri Lanka, public policy lost in the neoliberal haze treats the market as a cure for all ills. Not only is the market omnipresent, but it is also omniscient and omnipotent. The charm of the ‘market’ that research and advocacy lobbyists are creating is so alluring that only a few […]

President Ranil Wickremesinghe highlighted the present as an opportune moment for investing in Sri Lanka’s renewable energy sector, expressing confidence in its potential to yield substantial benefits for both stakeholders and consumers in the coming decades. The President also underscored that investors venturing into this sector can anticipate a comprehensive and unwavering policy framework in [...

… USD 5 mn paid to Iran a month By Shamindra Ferdinando Power and Energy Minister Kanchana Wijesekera has confirmed that consumers of petrol and diesel have been made to pay Rs. 50 to Rs. 55 per litre since the middle of last year to settle what the Ceylon Petroleum Corporation (CPC) owed its creditors. […]

Ms. Shashi Kandambi, a leading professional in the banking sector, has assumed office as the 19th General Manager/CEO of National Savings Bank (NSB) on 10th January 2024. Ms. Kandambi was the Senior Deputy General Manager of International Banking at Sampath Bank, where she had a long-standing and successful career. Her banking experience spans over 35 […]

By Sanjeewa Jayaweera The headline on page one of the Sunday Island of 07 January 2024 read, “CBSL Governor urges public to become informants to boost tax revenue.” The article was based on an interview with Governor Nandala Weerasinghe (NW) hosted by the President’s Media Centre. NW is quoted to have said, “If the public […]

During a meeting between President Ranil Wickremesinghe, Sri Lankan authorities and the International Monetary Fund (IMF) on Thursday (11), the IMF congratulated the country on completing the first review under its program. The IMF highlighted the positive start of the program, recognizing the challenging reforms undertaken by Sri Lanka and their significant impact on the […]

… admits CEB-owned hydropower plant benefited from Samanalawewa leak By Shamindra Ferdinando Power and Energy Minister Kanchana Wijesekera has disclosed that cash-strapped Ceylon Electricity Board (CEB) arranged for bank loans to its employees at government’s expense. The SLPPer said that of the 15%-16% interest, the CEB paid 2/3 whereas the workers paid the balance. Minister […]

The World Bank forecasts the Sri Lankan economy to grow by 1.7 percent in 2024 and by 2.4 percent in 2025, according to its report on global economic prospects made available to the local press on Wednesday.

The governor of Central Bank of Sri Lanka (CBSL) says good faith negotiations are in progress with commercial creditors to reach an in-principle agreement as soon as possible.

By Ifham Nizam Sri Lanka has made commendable strides towards fiscal discipline, particularly in the area of controlling government spending and managing inflation, Rockefeller International chairman and founder and CIO, Breakout Capital Ruchir Sharma said. Sharma was speaking at a special public lecture in Colombo recently, organized by the Central Bank of Sri Lanka. At […]