Economic

Sri Lanka’s central bank said it was keeping policy rates unchanged at 5.50 percent to inject new money as inflation topped 5 percent in June and food prices rose in double digits and the balance of payments was in deep deficit amid money…

Sri Lanka has issued gold and silver commemorative coins marking 100 years of China’s communist party and 65 years of diplomatic relations with the country. “The coins have been issued at the request of the Government of Sri Lanka as an…

Sri Lanka has issued gold and silver commemorative coins marking 100 years of China’s communist party and 65 years of diplomatic relations with the country. “The coins have been issued at the request of the Government of Sri Lanka as an…

Sri Lanka will repay a sovereign bond in 2020 and others as they fall due and there was no requirement for an International Monetary Fund bailout, State Minister for Money and Capital Markets Nivard Cabraal has said. “There is no question…

China was the top lender to Sri Lanka for the first four months of 2021, disbursing 514.9 million US dollars including a 500 million budget support loan, slightly down from an year earlier, official data shows. In the first four months of…

The Sri Lanka Podujana Peramuna has nominated Economic Revival and Poverty Alleviation Presidential Task Force Head and former Minister Basil Rajapaksa to fill the vacancy left by the resignation of MP Jayantha Ketagoda, the National…

A cash payment instead of an in-kind subsidized fertilizer in the years 2016 and 2017 sharply reduced fertilizer imports and use but there was no fall in agriculture yields, Plantations Minister Ramesh Pathirana said. “In 2016-2017 there…

Sri Lanka’s cabinet of ministers had cleared a proposal to allow undisclosed assets to be brought to the open and invested giving effect to an earlier budget proposal for a tax amnesty. The cabinet had cleared a proposed bill to put the…

A government overdraft with Sri Lanka’s state banks had soared to 620 billion rupees or 3.7 percent of gross domestic product by April 2021 up from 304.4 billion rupees as spending grew and revenues were under pressure due to tax cuts and a…

Sri Lanka has made arrangements to settle a billion US dollar international sovereign bond (ISB) falling due on July 27, the central bank said as the securities yield went up sharply over the past week. “..he Government of Sri Lanka has…