Sri Lanka’s Debt restructuring talks could drag on for a long time despite expected IMF Support – Fitch Ratings
Fitch Ratings believes Sri Lanka is likely to secure financing support from the IMF after the fund’s Executive Board set a date of 20 March to review the USD2.9 billion…
Fitch Ratings Downgrades Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating to ‘C’
Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘C’ from ‘CC’ following the Government’s decision to suspend debt servicing of several categories of its external…
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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 Lankan Economy Spiralling out of control; Requests IMF assistance
By Asanga Abeyagoonasekera Sri Lanka’s economic meltdown is one of the worst in recent decades, pushing many families into poverty. The situation is rapidly spiraling out of control with multiple…
Sri Lanka among four countries most vulnerable to an exchange rate crisis in the next 12 months – Nomura
Sri Lanka along with Egypt, Romania, Turkey are vulnerable to an exchange rate crisis in the next 12 months, according to Nomura’s early warning indicator of exchange rate crises, Damocles.…
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…
Central Bank of Sri Lanka holds policy rates at their current levels despite inflationary concerns
The Central Bank of Sri Lanka (CBSL) decided to hold key policy rates at their current levels despite concerns over rising inflation rates and possible inflationary pressures over the medium…
Sri Lanka extends forex restrictions on capital flight by six months
The government has extended suspensions/restrictions on capital forex outflows (outward remittances) by six months with effect from the 2nd of July this year to preserve the country’s shrinking FX reserves.…
Sri Lanka expects $250 million to its dwindling FX Reserves from Bangladesh in Crucial July
The Central Bank of Sri Lanka is expecting a $250 million boost from its dwindling foreign exchnage reservers from the Bangladesh Bank in July. “Inflows expected to the Central Bank…
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…