An Echelon Media Company
Thursday June 24th, 2021
Economy

Sri Lanka ex-PM Ranil says only alternative is to go to IMF

"If you are not agreeable, tell us what the alternative is"

4 minutes

Sri Lanka to increase 2021 spending by extra 1.2-pct of GDP

Before the supplementary estimate the deficit was projected at 9.5-pct of GDP

1 min read

Sri Lanka's central bank credit exceeds monetary base in MMT money printing

In the past policy corrections tended to be made much earlier.

3 min read

Sri Lanka to merge Laugfs, Litro operations, LPG price controls to remain: Minister

Government to support losses

2 min read

Sri Lanka rupee, forex markets in pickle as LC rationing froths

Money printing has pushed dollar yields above rupee rates

Sri Lanka to import rice as trade controls strengthen domestic grain 'mafia'

Rice price spike not due to fertilizer ban

Japan donates one million AstraZeneca doses to Vietnam as 'Extensive Strategic Partner'

Japanese businesses have also donated to Vietnam's vaccine fund

3 min read

Sri Lanka president declares services relating to ports, fuel supply, etc as essential

Sri Lanka is in an unofficial COVID-19 lockdown since May 21 with curfew-like movement restrictions imposed island wide.

2 min read

Japan firm claims damages of Rs5.8bn from Sri Lanka after LRT deal scrapped

When the LRT deal was scrapped, consultancy contract was already awarded

1 min read

Sri Lanka imports at US$1.7bn in April, trade deficit 889mn amid credit recovery

Economic activity slows in April after surge in March

2 min read

Sri Lanka minister warns of financial terror, mystery deepens over fuel stabilization fund

“Instead of lying (un-der-ner-war) to the people I like to tell them the truth.”

5 min read

Sri Lanka discloses 14.1-pct budget deficit in 2020 AG audited accounts

The Finance Ministry had claimed an 11.1 percent of GDP deficit for 2020 elsewhere

2 min read

Sri Lanka forex swap rates plunge as outright rupee/dollar market dries up

One year swaps at a discount of 17.00/15.00

3 min read

Sri Lanka keen on rupee at 200 to US dollar, using influence on market: CB

Several measures being taken to bolster the rupee

3 min read

Sri Lanka excise department contemplating a limited license for online liquor orders

The department has received requests from the industry, supermarket chains and consumers to permit online liquor orders

1 min read

Sri Lanka repays 57-pct of US$6.3bn in forex debt due in 2021

Up to June 2021, 1.3 billion US dollars were paid and 2.4 billion US dollars remained

2 min read

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Latest Last
US Dollar 199.8938 199.9083
UK Pound 278.4521 278.1524
Euro 238.3134 238.0108
Aus Dollar 150.7099 150.3610
Yen 1.8039 1.8104
Source: Central Bank/Indicative
Latest Last
Indian Rupee 2.6887 2.6964
Korea Won 0.1759 0.1765
Oman Rial 519.2182 519.2558
Saudi Riyal 53.2894 53.3060
UAE Dirham 54.4203 54.4242
Source: Central Bank/Indicative
pts %
S&P SL20 3,026.08 -1.25%
CSE All Share 7,743.71 0.22%
Turnover Rs million. 1,937,505
Source: CSE
Latest Last
3-m bill 5.07 5.08
6-m bill 5.12 5.12
12-m bill 5.17 5.17
5-yr bond 7.27 7.30
8-yr bond 7.55 7.86
Source: Central Bank/Indicative
today yesterday
Overnight Money 4.67 4.67
Gilt Repo 4.68 4.68
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka to discuss preferential trade deal with Bangladesh

Bilateral trade minimal despite various agreements

1 min read

Sri Lanka has cancelled 216 LCs for 14,000 vehicles after March 2020 import ban: trade group

Ban has led to skyrocketing second had car prices

2 min read

Sri Lanka CCC sovereign rating confirmed by Fitch, growth lowered

Growth for 2021 lowered to 3.8-pct from 4.9-pct

9 min read

Sri Lanka fuel price stabilization account Rs26bn in the red

An import tax surcharge was put on fuel when petroleum prices fell to around US$25 a barrel

3 min read

Gulam Chatoor founder of Sri Lanka Spice Traders Association steps down

His career spanned over 70-years

2 min read

Sri Lanka CB advised Treasury to hike fuel prices, banking sector on brink of collapse: Minister

Statists and Keynesians generally label such moves as 'austerity'.

2 min read

Sri Lanka targets year end forex reserves of US$4.0-4.5bn: Central Bank

A US$400mn swap from Reserve Bank of India and IMF SDR allocation expected in August

3 min read

Sri Lanka raised fuel prices to strengthen economy, rupee: President's office

CPC owes banks Rs652bn, CEB Rs85bn

3 min read

Losing GSP+ will spell disaster for Sri Lanka's economy: former PM Wickremesinghe

"In the face of the danger that has arisen, the GSP+ must not be politicised."

3 min read

Sri Lanka CB did not approve luxury SUV imports for MPs: Governor

It is a difficult question to justify

3 min read

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