Economic

Sri Lanka’s central bank is studying whether to hike a 25 mandatory dollar conversion requirement in the wake of cabinet decision on the matter, Deputy Governor Dhammika Nanayakkara said amid record low rupee rates and excess liquidity in…

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…

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…

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…

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’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 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…

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…

Sri Lanka has allowed W M Mendis & Company Ltd, an alcohol maker linked to the Perpetual group of companies to re-start production and pay billions of rupee owed in taxes in installments, a media report said. Sri Lanka’s The Sunday…