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IMF Urges Sri Lanka to implement an ambitious fiscal consolidation program to overcome the economic crisis
The International Monetary Fund (IMF) urges Sri Lanka to implement an ambitious fiscal consolidation that is based on high-quality revenue measures which consist of raising income tax and VAT rates…
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Russia-Ukraine Conflict: Economic Implications for Sri Lanka
By Asanka Wijesinghe The Russian invasion of Ukraine deepens the existing global economic woes – persistent supply chain bottlenecks and associated rising inflation – clouding the prospects of a smooth global economic recovery from…
Sri Lanka economy contracts 1.5% in 3Q
(Reuters) – Sri Lanka’s economy shrank 1.5% in the third quarter from a year earlier due to a third COVID-19 wave that peaked in August hitting industries and services, the government…
The Central Bank publishes “Recent Economic Developments: Highlights of 2021 and Prospects for 2022″
The Central Bank of Sri Lanka today published “Recent Economic Developments: Highlights of 2021and Prospects for 2022” online with an overview of the performance of the Sri Lankan economy in…
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FCR recommends cutting exposure to equities to 50% amidst expectations on overall Interest rates and tax hikes
First Capital Research (FCR) recommends investors to limit the exposure to equities to 50% or to aggressively shiftportfolio to defensive counters amidst expectations on overall Interest rates rise and a…
Back to the ‘smaller pond’: MSCI to downgrade Pakistan to Frontier Market
Pakistan was downgraded from its status as an emerging market, a little over four years after it was reclassified from the Frontier Markets (FM) Index by Morgan Stanley Capital International…
Sri Lanka becomes first in Asia to tighten policy in pandemic-era
(Reuters) – The Central Bank of Sri Lanka (CBSL) became the first in Asia on Thursday to raise interest rates since the pandemic began, as it acted to stem inflationary…
166,284 Credit Cardholders in Sri Lanka on CRIB’s Blacklist
166,284 Credit Cardholders in Sri Lanka were placed on the Credit Information Bureau’s (CRIB) blacklist with Rs.16 billion in arrears by the end of Q12021, CRIB data showed. Defaulted Credit…
Sri Lanka’s FX reserves hit a new low of $ 4.02 billion in May
Sri Lanka’s gross official foreign exchange reserves tumbled to $ 4.02 billion at end of May from $4.5 billion a month ago as the country faces $3.5 billion external debt…
Fitch Ratings Expects IMF Board to Approve Proposed SDR allocation in August
Fitch expects the new general special drawing rights (SDR) allocation to be approved by the IMF’s board of governors, likely in August. The move will raise foreign exchange reserves for…