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Sri Lanka’s central bank urges China and India to act quickly

Sri Lanka’s central bank Governor P. Nandalal Weerasinghe in an interview with BBC Newsnight urged China and India to act quickly for the country to secure a $2.9 billion IMF…

Sri Lanka budget lays down plans to clinch IMF deal; markets not enthused

(Reuters) – The crisis-hit Sri Lankan economy can turn around by the end of 2023 if budget policies,which are not limited to the International Monetary Fund’s recommendations, are followed,President Ranil…

Sri Lanka holds rates as crisis-hit economy banks on govt reforms, IMF bailout

The Central Bank of SRI Lanka held policy rates steady on Thursday (Oct 6), saying monetary conditions remain “sufficiently tight” after a massive rate-hike campaign earlier in the year as…

Sri Lanka Secures Initial IMF Approval for $2.9 B Bailout Package

An International Monetary Fund (IMF) mission led by Peter Breuer and Masahiro Nozaki visited Colombo from August 24 to September 1, 2022, to continue discussions on IMF support for Sri…

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…

it’s in China’s interest to restructure Sri Lanka’s debt – Yellen

China is a “very important” creditor of Sri Lanka and it would likely be in the interest of both countries if China participated in restructuring Sri Lanka’s debt, U.S. Treasury…

Political stability is critical for Sri Lanka to resolve the economic crisis – U.S Ambassador

The United States Ambassador to Sri Lanka, Julie Chung last Friday stressed that the political stability is critical to undertake lasting and decisive structural reforms in addressing the root causes…

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…