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Sri Lankan rupee appreciates by nearly 20% aginst USD

As of last As per the Central Bank data, the buying rate of a US dollar was Rs.295.62 while the selling rate was Rs.305.82 according to the Central Bank. In addition,…

Debt-stricken Sri Lanka to receive first tranche of IMF bailout funds in two days

 (Reuters) – Sri Lanka will get the first $330 million tranche of the International Monetary Fund’s bailout in the next two days, the global lender said on Tuesday, putting the…

Sri Lanka’s health crisis :Urgent action is needed to maintain vital services

By Shashika Bandara and Inosha Alwis Sri Lanka is facing a severe political and economic crisis, and the health system is at risk of collapse. The crisis has been caused by…

Ministerial Consultative Committee cleares Amendments to Petroleum Products Act to liberalize duopoly Petroleum market

The Petroleum Products (Special Provisions) Amendment Bill was approved by the Ministerial Consultative Committee on Power and Energy with amendments in accordance with the decisions given by the Supreme Court.…

Food insecurity continues to remain a concern for the majority of Sri Lankans

The latest report by World Food Program (WFP) warns that overall acute food insecurity continues to remain a concern as the majority of people are still forced to cut meals…

Ceylon Chamber calls on the government to focus on the Implementation of Progressive Proposals in the Interim budget of 2022

The Ceylon Chamber of Commerce views the interim budget for 2022 delivered by President RanilWickremesinghe in his capacity as Minister of Finance, as a positive step towards rebuilding themacroeconomic framework…

IMF staff plans to visit Colombo ths week

An IMF Staff delegation led by Peter Breuer and Masahiro Nozaki plans to visit Colombo during August 24-31 to continue discussions with the Sri Lankan authorities on economic and financial…

Sri Lanka roll out QR code system-based fuel distribution from today

Sri Lankans have been urged not to overcrowd fuel stations in the country as the fuel distribution process for vehicles as per the QR code system which was delayed earlier,…

Airlines cuts capacity and import cargo amidst jet fuel crisis

Sri Lanka’s economic crisis and lack of fuel has resulted in airlines cutting capacity to the country and embargoing inbound cargo. The lack of passengers and fuel, which airlines have…

ADB projects Sri Lanka’s economy to contract by 7.6% in 2022

Asain Development Bank (ADB) highlighted that Sri Lanka’s economic conditions have deteriorated drastically on a sharp fall in usable reserves, causing the government to suspend external public debt servicing (excluding…