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Sri Lankan Economic Crisis Inflicted by Self-Serving Elite

By Anis Chowdhury and Jomo Kwame Sundaram Sri Lanka has just defaulted on its foreign debt for the very first time. Attributing its current predicament to a Chinese ‘debt-trap’ is a new Cold War…

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…

ForEX IMpossible Seminar by SLMBC Offers Economic Insights on Forex Crisis

Offering deep insights into the realities of the current Foreign Exchange crisis as well as informed projections on future trends, was the focus of a seminar organized recently by the…

Sri Lanka Lifts margin deposit requirement on mobiles, home appliances, and over 600 other imported goods

The Central Bank of Sri Lanka (CBSL) removed the 100 percent cash margin deposit requirement imposed on 623 ‘non -essetial’/non urgent’ imported goods including mobiles, home appliances, clothing, household, and…

Cumulative workers’ remittances inflows into Sri Lanka declines in the first eight months

Workers’ remittances inflows into Sri Lanka declined sharply for the third consecutive month in August erasing the growth see in remittances inflows in the early months of the year. The…

Central Bank Bars Banks from entering into new forward FOREX contracts

Sri Lanka’s Central Bank (CB) yesterday barred banks from entering into new forward foreign exchange contracts for three months with immediate effect to contain excess volatility in the foreign exchange…