Sri Lanka settle payments for Russian coal cargoes
(Reuters)- Crisis-hit Sri Lanka has paid for two Russian cargoes to SUEK AG’s Singapore unit through a telegraphic transfer, two senior government officials told Reuters, in a move that is…
Cash-strapped Sri Lanka hit by record inflation
(AFP) – Crisis-hit Sri Lanka’s inflation hit a record high for the sixth consecutive month, official data showed on Friday as the government asked the IMF for an urgent bailout. The…
Sri Lankan Economic Crisis Inflicted by Self-Serving Elite
By Anis Chowdhury and Jomo Kwame Sundaram Sri Lanka has just defaulted on its foreign debt for the very first time. Attributing its current predicament to a Chinese ‘debt-trap’ is a new Cold War…
India to provide crisis-hit Sri Lanka with an additional US$500 million for fuel
Sri Lanka’s continued fuel crisis has prompted India to extend another helping hand to the troubled island nation with an additional $500 million in financial aid. Sri Lanka’s foreign ministry…
Crisis-hit Sri Lanka, India revive talks to link electric grids
(Reuters) – India and Sri Lanka have resumed talks on linking their electricity grids, officials told Reuters on Tuesday, a step that could aid New Delhi’s goal of reducing China’s…
Colombo Stock Brokers Association defends the decision to temporarily close down the Colombo Stock Exchange
Colombo Stock Brokers Association (CSBA) defends the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the Colombo Stock Exchange (CSE) for 5 business…
Sri Lanka’s Business Chambers urges the President to initiate immediate legislative action to repeal the 20th amendment
Concerned by the current political deadlock coupled with growing public unrest, Sri Lanka’s Joint Business Chambers led by the Ceylon Chamber of Commerce (CCC) urged President Gotabaya Rajapakse to immediately…
World Bank deeply concerned about the uncertain economic outlook in Sri Lanka and its impact on people
Sri Lanka’s economic outlook is highly uncertain due to fiscal and external imbalances. Urgent policy measures are needed to address the high levels of debt and debt service, reduce the…
Sri Lanka unilaterally suspends external debt payments, says needs money for essentials
(Reuters) – Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to…
Ceylon Chamber Hosts Investment Promotion Meeting with Bangladesh’s EPZ Authority
With the nation of Bangladesh poised to become an economic powerhouse in the South Asian region,the Ceylon Chamber of Commerce hosted a meeting with a high-level delegation representing theBangladesh Export…