Sept 08, Colombo: The International Monetary Fund on Wednesday advised Sri Lanka's Central Bank to restrict its intervention and allow more flexibility in rupee exchange rate as the country's non-borrowed forex reserves have declined.

The International Monetary Fund (IMF) in its latest review gave mixed evaluations with positive ...

Eshana De Silva, the Chairman of the Esna Group of Companies and Shermans Logistics has been officially appointed as the Honorary Consul to Kazakhstan. De Silva is also a Director of Pan Asia Bank, Mc Marine and functions as a board member of the Board of Investment (BOI) and the Sri Lanka Ports Authority (SLPA). ...

Bloomberg: Sri Lanka’s economic growth is set to outstrip India’s for the first time since 2000 as record foreign investment and Government spending fuel a resurgence after almost three decades of civil war. The island nation’s $ 50 billion gross domestic product will increase 8.5 per cent this year, up from eight per cent in ...

June 10, Colombo: The International Monetary Fund (IMF) on Friday advised the Central Bank of Sri Lanka to allow the exchange rate to reflect market forces flexibly and avoid sustained sales of foreign exchange to ensure the reserves remain healthy and the economy competitive.

The International Monetary Fund has approved the disbursement of an amount equivalent to about 218.3 million US Dollars. This follows its completion of the sixth review of Sri Lanka’s economic performance under a program supported by a Stand-By Arrangement. The immediate disbursement

by Darini Rajasingham Senanayake On 4 February, Sri Lanka celebrated its 63rd birthday. After nearly three decades of armed conflict, it is now one of Southasia’s calmest and fastest-growing countries. Its social indicators, apart from the northeast zone, remain the...

Feb 19, Washington, DC: The International Monetary Fund (IMF) believes that that the exchange rate should be flexible to ensure that Sri Lanka reserves remain healthy and that the economy is competitive.

The United Nations Security Council unanimously approved sending an additional 2,000 peacekeepers to the Ivory Coast, citing the lack of security facing the more than 9,000 troops and police officers already there. So many soldiers are required to protect the Golf Hotel, home to Alassane Ouattara, the man recognized as president by the UN and the international community, as ...

The JVP says that the government has embraced neo-liberal economic policies and has included the conditions put forward by the International Monetary Fund (IMF) in its 2011 budget. JVP General Secretary Tilvin Silva told a press conference that President Mahinda Rajapaksa has embraced neo-liberal

by Bob Rae Excerpted with permission from Exporting Democracy: The Risks and Rewards of Pursuing a Good Idea, by Bob Rae, published in 2010 by Mc-Clelland & Stewart. Bob Rae MP, Liberal opposition's foreign affairs critic ~ pic: Western Law...

The International Monetary Fund says economic conditions have shown remarkable progress with low inflation, which is expected to remain in single digits for the year, strong external balances, a high rate of remittance inflows, comfortable levels of gross reserves and rapidly improving tourism

by Rick Westhead Toronto Star, South Asia Bureau TRINCOMALEE, SRI LANKA—The weathered wooden bench that serves as an open-air confessional booth at Our Lady of Guadalupe Catholic Church doesn’t enjoy much down time nowadays. It’s not that more people are...

Sri Lanka has successfully achieved the key September 2010 programme targets, namely, Net International Reserves (NIR), Reserve Money (RM) and Net Domestic Financing (NDF) under the IMF-SBA (International Monetary Fund – Stand By Arrangement), states the Central Bank. .

The International Monetary Fund on Friday agreed to release around $213mn to Sri Lanka designed to top up the island’s dwindling foreign reserves. The IMF moves to repair battered finances had been “satisfactory” as it dished out the fifth instalment of a loan that now totals just under $1.3bn.

The International Monetary Fund on Friday agreed to release around 213 million dollars to Sri Lanka designed to top up the island's dwindling foreign reserves.

The International Monetary Fund has agreed to release around USD 213 million to Sri Lanka designed to top up the island’s dwindling foreign reserves.

The International Monetary Fund (IMF) says that fundamental tax reform, including reform of the investment promotion regime, is central to achieving the government’s budget deficit reduction targets while creating the fiscal space for much-needed reconstruction and infrastructure investment

By GABRIELLA STERN NEW YORK -- Sri Lanka's president said Wednesday that rising labor costs in China present an opportunity for his South Asian country to attract foreign companies seeking an alternative low-cost manufacturing base....

The International Monetary Fund is optimistic that Sri Lanka will be one of the World’s high fliers in terms of growth in the coming quarters. Sri Lanka’s economy advanced by 8.5 percent during the second quarter of this year based on the success recorded in several sectors of the economy

A visiting International Monetary Fund (IMF) mission in Sri Lanka to review its programme in the country expressed satisfaction over the progress of the Sri Lankan economy. The mission said today (23) that it could make the necessary recommendation to release the next tranche of US$ 200 million

Sri Lanka may not tap loans from the International Monetary Fund immediately as foreign-exchange reserves have climbed to a record, Deputy Finance Minister Sarath Amunugama said.

by Mangala Samaraweera This week marks a momentous occasion in my political journey. After 22 years of politics in the Sri Lanka Freedom Party (SLFP), a party to which I have given the best years of my life, I have...

By Athiyan Silva Further evidence has emerged in recent weeks of the continuing political disintegration of the separatist Liberation Tigers of Tamil Eelam (LTTE), which was militarily crushed in May 2009 by the Sri Lankan military. Several reports indicate that...

The foreign reserves in Sri Lanka have increased. The International Monetary Fund granted two more loan installments to Sri Lanka recently. The Central Bank has said that accordingly the foreign reserves have increased to 5.7 billion US dollars. This amount would be adequate for 6 more months

By Saman Gunadasa and K. Ratnayake Sri Lankan deputy finance minister Sarath Amunugama presented a delayed interim budget for 2010 on Tuesday (Jun 29), outlining plans for austerity measures to meet the demands of the International Monetary Fund (IMF)....

Sri Lanka’s sovereign rating, which is on par with Kenya and Ukraine, may be raised as funds from a $2.5 billion International Monetary Fund loan improved the “external liquidity situation,” Standard & Poor’s said, speaking to Bloomberg News. The rating agency in October raised its outlook

The International Monetary Fund on Monday (28) completed its second and third reviews on Sri Lanka’s economic performances,  under a Stand-By-Arrangement approved of  in July 2009, following the end of the war. The 20 month Stand-By-Arrangement makes available resources equaling 400

June 16, 2010: 11.00 am Siobhain McDonagh: (Mitcham and Morden) (Lab): I am grateful for the chance to highlight again the appalling treatment of Tamil civilians by the Sri Lankan Government....

Gold now makes up 10 percent of Sri Lanka’s foreign reserve assets after the country tripled its gold holdings with a purchase from the International Monetary Fund in 2009. The World Gold Council, an industry advocacy body said gold made up 10 percent of the country’s foreign reserve