Sri Lanka s economy showed significant growth more than anticipated in the first quarter, marking a strong recovery from a severe foreign exchange crisis.

Monday 17th June, 2024 The SLPP-UNP government is crowing about the release of the third tranche of the IMF loan, and has undertaken to fulfil some more bailout conditions such as the introduction of an imputed rental income tax. It has said the new tax will affect only the high-net-worth individuals, but the proof of […]

by Amal JAYASINGHE (AFP) When Sri Lanka’s economy crashed in 2022, people sought work abroad wherever they could find it — including ex-soldiers who joined forces fighting in Ukraine after Russia’s invasion. Now the veterans — some of whom swapped their life savings

nation was starting to recover, but the economy was “still vulnerable and the path […]

Unbundling the Ceylon Electricity Board: by Rajan Philips There is no question – the Ceylon Electricity Board has grown into a public sector behemoth. It has become the Leviathan of Sri Lanka’s political economy. It sucks up government cash and owes an unpayable debt of about LKR600 billion

President Ranil Wickremesinghe said on Thursday (13) that he had not deviated from the principles of the democratic socialist system of Sri Lanka, in his efforts to revive the economy. Delivering his keynote addressed at the inaugural session of the 45th “SAARCFINANCE” Governors

The International Monetary Fund (IMF) says that there has been sufficient progress for Sri Lanka’s Debt Restructuring process to move forward. Joining the IMF press briefing on Sri Lanka’s second review of EFF programme held virtually yesterday morning (14), IMF Senior Mission Chief for Sri Lanka Peter Breuer stated that the IMF fully respect the democratic […]

President Ranil Wickremesinghe officially launched www.publiclearn.lk a new education platform aimed at transforming Sri Lanka’s learning landscape at the Chamber Hall of the Presidential Secretariat, on Thursday [13] Public Learn is a platform that guides users to free courses from the world’s top universities. . Emphasizing the importance of adapting to a knowledge-intensive society, the […...

Sri Lanka s economy is expected to expand by 2.2 percent in 2024, according to the World Bank s latest Global Economic Prospects report issued on Friday (14).

Govt.: ‘Is Opposition resorting to act of terrorism to ruin economy?’ State Minister of Finance Shehan Semasinghe, yesterday, asked the Opposition not to disseminate false information, which was fraught with the danger of disrupting the economic recovery process, which had received a boost

SriLankan Airlines CEO Richard Nuttall has declared that the Wickremesinghe-Rajapaksa government intends to privatise several state-owned enterprises, including SriLankan as part of the International Monetary Fund (IMF) programme. Asian News International quoted Nuttall as having said on Wednesday (13): “The government is trying to privatise a number of state-owned enterprises as a part of t...

The Executive Board of the International Monetary Fund (IMF) completed the second review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR 254 million (about US$336 million). This brings the total IMF financial support disbursed so far to SDR 762 million (about US$1 billion). The Executive Board also concluded the […]

Ambassador comments on 2024 prez poll Russian Ambassador Levan Dzhagaryan said that regardless of the outcome of the presidential election later this year in Sri Lanka, the Russian Federation expected the new government to continue with what he called independent neutral foreign policy and preserve the continuity in friendly relations with Russia. Declaring that Russia […]

Sri Lanka s State Minister of Finance Shehan Semasinghe says today (June 12) marks a significant milestone for Sri Lanka s economy as the International Monetary Fund s executive board is scheduled to discuss the second review of the Extended Fund Facility (EFF) and Article IV consultation.