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  • CBSL lanches the Sri Lanka Green Finance Taxonomy to enable low-cost funding for green initiatives

CBSL lanches the Sri Lanka Green Finance Taxonomy to enable low-cost funding for green initiatives

The Central Bank of Sri Lanka (CBSL) recently launched the Sri Lanka Green Finance Taxonomy with an objective to enable the country’s financial market participants to raise low-cost funding for…

Hike taxes to address debt woes, IMF urges crisis-hit Sri Lanka

Sri Lanka must tighten monetary policy and raise taxes to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday, even as Lanka’s President Gotabaya Rajapaksa and the cabinet…

Conrad Dias takes the helm at Sri Lanka’s largest NBFI, LOLC Finance

Conrad Dias, the previous Chief Executive Officer of LOLC Finance PLC assumed duties as the Non-Executive Chairman of LOLC Finance PLC. In alignment with the financial sector consolidation plan of…

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…

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…

Sri Lanka doubles interest rates to check inflation; stabilize the economy

 (Reuters) – Sri Lanka’s central bank on Friday doubled its key interest rates, an unprecedented 700 basis points each, to cushion the rise in inflation caused by a crippling shortage…

Fidelity among big Sri Lankan debt holders staring down risk

GLOBAL asset managers including Fidelity Investments and T Rowe Price Group could be staring down the risk of default in Sri Lanka in the face of a deepening economic crisis.…

Sri Lanka’s Central Bank delays Monetary Policy Announcement over political crisis

The Central Bank of Sri Lanka (CBSL) has delayed the announcement of the Monetary Policy Review decision which was scheduled for tomorrow with the resignation of the CBSL Governor, Ajith…

Sri Lanka’s Central Bank suspends Money Changing permit issued to Prasanna Money Exchange

Considering the complaints received from general public that Prasanna Money Exchange (Pvt) Ltd is offering higher exchange rates, the Central Bank of Sri Lanka (CBSL) has temporarily suspended the permit…

Sri Lanka’s Central Bank to Cut nearly one-third of its holdings in government securities

Entering into a reverse course in money-printing, the Central Bank of Sri Lanka (CBSL) plans to cut nearly one-third of its holdings (Rs.500 billion) in government securities amidst rising inflation…