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Sri Lanka’s FX reserves hit a new low of $ 4.02 billion in May

Sri Lanka’s gross official foreign exchange reserves tumbled to $ 4.02 billion at end of May from $4.5 billion a month ago as the country faces $3.5 billion external debt…

Fitch Ratings Expects IMF Board to Approve Proposed SDR allocation in August

Fitch expects the new general special drawing rights (SDR) allocation to be approved by the IMF’s board of governors, likely in August. The move will raise foreign exchange reserves for…

IMF, World Bank Begin Push To Swap Debt Relief For Green Projects

(AFP): The idea of forgiving debt held by poor countries in exchange for “green” investments gained ground this week during the spring meetings of the IMF and World Bank, with…

Sri Lanka’s discussions for emergency financial support with IMF failed due to disagreements over policy requirements

The International Monetary Fund (IMF) couldn’t proceed with disbursing emergency financial support for Sri Lanka as the discussions failed due to disagreements over policy requirements on debt sustainability to address…

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…

Sri Lanka’s economy contracted by 3.9% in 2020- Central Bank

The Central Bank (CB) expects Sri Lanka’s economy to have contracted by 3.9 percent in 2020 well below its earlier projections. “The marginal decline in the first, and the relatively…

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…