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Tuesday May 24th, 2022
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The national carrier has racked up losses of 372 billion rupees since management control
Revenues at Rs4bn expenses are Rs9.6bn
Sri Lanka decided to default on debt on April 12
Inflation likely to stay around 30-40 pct in the near term
In our expectations the economy will contract at the highest rate than in any other year in history
Forex shortage disrupt energy supplies to industries
Delays in banks releasing dollars could spoil food
The debt was repaid in 2021 by running down foreign reserves and putting the central bank in debt
All three institutions are adopting a co-ordinated approach to sustain basic services and livelihoods
9,000 metric tonnes of rice, 200 metric tonnes of milk powder and 24 metric tonnes of essential medicines arrived.
Money printing triggers excess outflows, forcing the currency down and triggering parallel exchange rates
Non-oil imports fell 17.7 percent to 1,299.1 million US dollars in March 2022
“They tell me I’m doing a bloody good job,” says de Silva. “I’m sure everyone will start doing this soon.”
It is scheduled to arrive in Colombo on Sunday (22) as part of Indian aid to cash-strapped Sri Lanka.
Food suppliers have been willing to extend credit to local importers due to strong relationships spanning generations
| 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 |
| 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 |
| 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 |
| 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 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 14.50 | 14.50 |
| Gilt Repo | 14.50 | 14.50 |
| I-m SLIBOR | - | - |
Cross default clauses triggered
Delays is fiscal reforms can reduce the recovery rate
Debt advisors expected to be appointed by the cabinet soon
In the rupee interest rates we can give central bank financing to the primary market and through open market operations
Note holding ceiling to be brought down from 15,000 to 10,000 dollars
Angry consumers have started street protests on a daily basis by blocking roads demanding cooking gas.
Policy undermined by printing money for state workers
If we do not pay the IMF, and World Bank, that money will also not come: Sabry
The current crisis is having far-reaching implications on the ability of women and girls to live in dignity
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