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Sri Lanka to replace ‘unrealistic’ budget, in talks to extend World Bank aid

(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…

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…

IMF Urges Sri Lanka to implement an ambitious fiscal consolidation program to overcome the economic crisis

The International Monetary Fund (IMF) urges Sri Lanka to implement an ambitious fiscal consolidation that is based on high-quality revenue measures which consist of raising income tax and VAT rates…

Sri Lanka Leader Ramps Up Spending in High-Risk Bid for Support

(Bloomberg) — Many Sri Lankan voters who backed President Gotabaya Rajapaksa’s election bid three years ago are now struggling to make ends meet. His government is spending to ensure that…

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…

Sri Lanka seeks IMF advice amid worsening crisis

(AFP) : Sri Lanka has asked for “advice” from the International Monetary Fund amid a worsening economic crisis, the finance minister said Wednesday, signalling Colombo could seek an international bailout. The…

Outstanding foreign currency borrowings by Sri Lanka’s banks up for the first time in a year

The outstanding foreign currency borrowings of Sri Lanka’s banking sector rose for the first time in a year in the second quarter(2Q2021) in the line with the Central Bank of…