As ‘economic catastrophe’ looms, private sector demands immediate action from policymakers
23 industry associations, representing private sector firms engaged in export, import andlogistics industries warned of catastrophic consequences for Sri Lanka’s economy and the people if the ongoing economic and political…
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…
The Central Bank publishes “Recent Economic Developments: Highlights of 2021 and Prospects for 2022″
The Central Bank of Sri Lanka today published “Recent Economic Developments: Highlights of 2021and Prospects for 2022” online with an overview of the performance of the Sri Lankan economy in…
Sri Lanka’s rising food prices belies deeper economic issues
By Dushni Weerakoon Sri Lanka recently passed emergency regulations to deal with food shortages and price increases. Such powers are typically invoked to address public security concerns. But in this instance, they…
Sri Lanka: Chinese come calling
by Col R Hariharan Chinese defence minister’s visit The recently held Quad summit, which transformed an informal framework of the US, India, Japan, and Australia, into a formal grouping with…
China approves $1.5 billion currency swap with Sri Lanka
(Reuters) – China has approved a 10 billion yuan ($1.54 billion) currency swap with Sri Lanka, a government spokesman in Colombo said on Wednesday. The deal will allow the island…
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…
Pakistan Offers $50 Million New Credit Line to Sri Lanka to Boost Defence Ties
Cash-strapped Pakistan has offered a $50 million new credit line to Sri Lanka to boost cooperation in the defence and security sectors. Pakistan Prime Minister Imran Khan announced the new…
Rupee to depreciate by 12% in 2021- First Capital
Sri Lanka’s First Capital Research expects LKR to depreciate approximately by 12 percent during this year. “With the weak foreign currency reserve position, high foreign currency debt repayment and a…
Sri Lanka Will Manage its looming debt crunch without IMF Support – Cabraal
The State Minister of Money Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal reiterated that the Government is able to manage the debt servicing with the available without resorting…