An Echelon Media Company
Tuesday May 24th, 2022
Economy

Sri Lanka should privatize SriLankan Airlines fast: Advocata

The national carrier has racked up losses of 372 billion rupees since management control

May 24, 2022 2 min read

Sri Lanka Treasury cash shortfall Rs5.6bn a day: Minister

Revenues at Rs4bn expenses are Rs9.6bn

May 24, 2022 2 min read

Sri Lanka seeks US$500mn credit from India

India has already given US$700mn

May 24, 2022 1 min read

Sri Lanka selects Lazard, Clifford Chance to advice on debt-restructuring

Sri Lanka decided to default on debt on April 12

May 24, 2022 1 min read
Sri Lanka has tightened monetary policy sufficiently: CB Governor

Inflation likely to stay around 30-40 pct in the near term

Sri Lanka to see worst economic contraction in history in 2022: CB Governor

In our expectations the economy will contract at the highest rate than in any other year in history

Sri Lanka April 2022 exports hit record high amid forex shortages

Forex shortage disrupt energy supplies to industries

May 23, 2022 2 min read

Sri Lanka food importers seek exemption from open account trade ban

Delays in banks releasing dollars could spoil food

May 23, 2022 2 min read

Sri Lanka net foreign debt soars in 2021 in forex shortages

The debt was repaid in 2021 by running down foreign reserves and putting the central bank in debt

May 23, 2022 3 min read

World Bank, ADB, AIIB to work together on financing Sri Lanka

All three institutions are adopting a co-ordinated approach to sustain basic services and livelihoods

May 23, 2022 1 min read

Indian shipment of rice, milk powder, medicines worth 2bn arrive in Sri Lanka

9,000 metric tonnes of rice, 200 metric tonnes of milk powder and 24 metric tonnes of essential medicines arrived.

May 22, 2022 1 min read

Sri Lanka remittances down 52-pct in April 2022

Money printing triggers excess outflows, forcing the currency down and triggering parallel exchange rates

May 22, 2022 3 min read

Sri Lanka non-oil imports down in March 2022 as soft-peg collapses

Non-oil imports fell 17.7 percent to 1,299.1 million US dollars in March 2022

May 21, 2022 3 min read

Cash-strapped Sri Lanka's endless queues spur desperate but creative entrepreneurship

“They tell me I’m doing a bloody good job,” says de Silva. “I’m sure everyone will start doing this soon.”

Dulya de Silva
May 21, 2022 4 min read

Indian shipment of rice, milk powder, medicines worth Rs 2bn en route to Sri Lanka

It is scheduled to arrive in Colombo on Sunday (22) as part of Indian aid to cash-strapped Sri Lanka.

May 21, 2022 1 min read

Sri Lanka food shortfalls, high prices feared after open account, DA/DP ban

Food suppliers have been willing to extend credit to local importers due to strong relationships spanning generations

May 20, 2022 2 min read
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Latest Last
US Dollar 364.4202 364.4504
UK Pound 458.4562 454.9265
Euro 387.0507 385.9320
Aus Dollar 260.3089 257.4611
Yen 2.8814 2.8648
Source: Central Bank/Indicative
Latest Last
Indian Rupee 4.6162 4.6218
Korea Won 0.2831 0.2831
Oman Rial 933.5913 933.6892
Saudi Riyal 95.8218 95.8319
UAE Dirham 97.8580 97.8683
Source: Central Bank/Indicative
pts %
S&P SL20 2,844.97 3.42%
CSE All Share 8,474.49 2.53%
Turnover Rs million 2,730,762,448 1,978,302,133
Source: CSE
Latest Last
3-m bill 21.98 21.19
6-m bill 22.23 21.80
12-m bill 22.89 22.67
5-yr bond 21.70 22.43
8-yr bond 21.46 22.52
Source: Central Bank/Indicative
today yesterday
Overnight Money 14.50 14.50
Gilt Repo 14.50 14.50
I-m SLIBOR - -
Source: Central Bank/Indicative

Fitch downgrades Sri Lanka bonds to Default, sovereign rating to RD

Cross default clauses triggered

May 20, 2022 6 min read

Sri Lanka still rated 'Ca' by Moody's after default, signaling recovery rate of 35-65-pct

Delays is fiscal reforms can reduce the recovery rate

May 19, 2022 4 min read

Sri Lanka IMF discuss macro-fiscal plan, Finance Minister needed for policy sign-off

Debt advisors expected to be appointed by the cabinet soon

May 19, 2022 4 min read

Sri Lanka to impose LC deposit margins to discourage imports

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May 19, 2022 1 min read

Sri Lanka will control interest rates with OMO, direct bill purchases: CB Governor

In the rupee interest rates we can give central bank financing to the primary market and through open market operations

May 19, 2022 2 min read

Sri Lanka to crack down on foreign currency note holders: CB Governor

Note holding ceiling to be brought down from 15,000 to 10,000 dollars

May 19, 2022 1 min read

Sri Lanka PM asks COPE to summon Litro Gas officials over distribution delay

Angry consumers have started street protests on a daily basis by blocking roads demanding cooking gas.

May 19, 2022 1 min read

Sri Lanka policy rate unchanged as market rates rise, money printing warnings

Policy undermined by printing money for state workers

May 19, 2022 8 min read

Sri Lanka misses payment to Asian Development Bank: Prime Minister

If we do not pay the IMF, and World Bank, that money will also not come: Sabry

May 18, 2022 3 min read

UN and Australia give dignity kits to women and girls in Sri Lanka after soft-peg collapse

The current crisis is having far-reaching implications on the ability of women and girls to live in dignity

May 17, 2022 2 min read
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