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…
IMF to start talks with Sri Lanka on loan request in coming days
(Reuters) – The International Monetary Fund will initiate discussions with Sri Lankan authorities on a possible loan program in coming days, IMF spokesperson Gerry Rice said on Thursday, as the…
Sri Lanka finance minister meets top IMF official amid economic crisis
(Reuters) – Sri Lanka’s finance minister held talks with a top International Monetary Fund (IMF) official on Monday, two sources said, as the island nation seeks help to deal with…
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…
IMF Says It Is ‘Ready’ To Help Sri Lanka – If Asked
AFP : The International Monetary Fund is ready to discuss “options” with Sri Lanka if the government asks for financial support, its mission chief for the island told AFP on…
International and Local Experts Stress the Need For Bold And Radical Reforms for Sri Lanka this year
International and local economic experts and corporate leaders stressed the need for a concrete, long-term and bold reform agenda for the economy as the country braces for a critical year…
Sri Lanka focus on ‘homegrown solutions’ to settle $6.9 billion external debt servicing obligations for 2022
Sri Lanka will focus on ‘homegrown solutions’ to settle $6.9 billion external debt servicing obligations for 2022 with nearly half of these obligations falling within the 1st quarter of the…
Sri Lanka shuts only oil refinery to manage forex crisis
By Uditha Jayasinghe (Reuters) – Sri Lanka has temporarily shut its only oil refinery as part of efforts to manage dwindling foreign exchange reserves, the energy minister said on Tuesday, triggering…
Sri Lanka seeks $2.2 bn from China as reserves shrink
Sri Lanka is seeking $2.2 billion from Chinese banks, the government said Thursday, in echoes of a borrowing binge more than a decade ago that resulted in the country having…