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Sri Lanka Approaches Final Stage of Debt Restructuring Strategy to Revive Economy

Sri Lanka is approaching the final stage of unveiling its debt restructuring strategy, marking a significant milestone in the nation’s efforts to navigate its worst economic crisis in seven decades.…

Sri Lanka hopes to secure  the IMF bailout within this month 

 Minister of Foreign Affairs Ali Sabry express confidence in securing the IMF bailout package within this month since considerable progress has been made with the International Monetary Fund. Speaking to…

Sri Lanka bondholders ready for debt restructuring negotiations consistent with the IMF Programme

 A group of Sri Lanka’s sovereign USD-denominated Bondholders of is ready to hold debt restructuring negotiations with Sri Lankan authorities consistent with the International Monetary Fund’s (IMF) program. “The Bondholder…

Sri Lanka’s central bank urges China and India to act quickly

Sri Lanka’s central bank Governor P. Nandalal Weerasinghe in an interview with BBC Newsnight urged China and India to act quickly for the country to secure a $2.9 billion IMF…

Sri Lanka Secures Initial IMF Approval for $2.9 B Bailout Package

An International Monetary Fund (IMF) mission led by Peter Breuer and Masahiro Nozaki visited Colombo from August 24 to September 1, 2022, to continue discussions on IMF support for Sri…

it’s in China’s interest to restructure Sri Lanka’s debt – Yellen

China is a “very important” creditor of Sri Lanka and it would likely be in the interest of both countries if China participated in restructuring Sri Lanka’s debt, U.S. Treasury…

United States to Provide an Additional $5.75M to Crisis-hit Sri Lanka

The U.S. government announced a third tranche of new funding today to address the immediate needs of people hardest hit by the economic crisis in Sri Lanka.  This humanitarian assistance,…

The debate on Rs. 695 billion Supplementary Budget is scheduled for the 8th

The debate on the Supplementary Estimate of Rs. 695 billion which is to be presented on the 7th by the Prime Minister, Ranil Wickremesinghe will be taken up for debate…

Sri Lanka appeals for farmers to plant more rice as food shortage looms

Sri Lanka wants farmers to plant more rice as part of plans to avert a severe food shortage, a top official said on Tuesday (May 31), as experts warned of…

Crisis-hit Sri Lanka hikes tax rates to maximise govt revenues

(Reuters): Sri Lanka’s government on Tuesday announced a taxation overhaul to maximise revenue amid the country’s crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the…