An Echelon Media Company
Wednesday June 19th, 2024

Sri Lanka President explains problem as progressive taxes discredit reforms

If we do not bring revenues back to 2019 levels, foreign countries will not support us

January 30, 2023 6 min read

Sri Lanka, other defaulting nations have widely differing debt indicators: Expert

"This is sometimes over-emphasized… but this ratio at 120 is a lot."

January 27, 2023 8 min read

Sri Lanka central bank workers protest tax hike as governor defends painful measures

“This is true for most public servants, and we cannot bear this burden,” said one worker.

January 26, 2023 4 min read

Sri Lanka to discuss settling ACU, India emergency credits separately: CB Governor

India committed around US$3.9bn to Sri Lanka in 2022

January 26, 2023 1 min read
China lenders for friendly consultation, early agreement on Sri Lanka debt: joint statement

Exim Bank had reached preliminary agreement for US$4.2 bn in debt

Sri Lanka should aim for revenues of 12-pct of GDP, avoid shortfalls: IMF

Clearly the objective is not to let it happen next year and make up for that shortfall

Sri Lanka asks for international debt relief on Coronavirus hit

Sri Lanka has asked international lending agencies to give debt relief for vulnerable nations as a Coronavirus pandemic ...

March 25, 2020 1 min read

Sri Lanka delays tax and debt collections, state to intervene in financial markets

Sri Lankan President Gotabaya Rajapaksa in a statement said a host of new relief measures to combat the COVID-19 coronav...

March 24, 2020 4 min read

Sri Lanka President pledges US$5mn to Modi's South Asia Coronavirus fund

Sri Lanka President Gotabaya Rajapaksa has pledged 5 million US dollars to a South Asian emergency fund for anti-Coroanv...

March 23, 2020 1 min read

Sri Lanka president has powers to spend, fund Coronavirus fight: PM

Sri Lanka's President has constitutional powers to allocate funds for government activities as well as the fight against...

March 23, 2020 1 min read

Sri Lanka makes mini-budget till May 2020 under Presidential powers

Sri Lanka has made a three month mini-budget running from March to May 2020, using constitutional powers given to Presid...

March 21, 2020 2 min read

Sri Lanka to buy US$760mn in chemical fertilizer

Sri Lanka's cabinet of ministers has approved the purchase of 760 million US dollars in chemical fertilizer from the wor...

March 20, 2020 1 min read

Sri Lanka President okays funds for Covid-19 battle, troubled firms: Minister

Sri Lanka's President Gotabaya Rajapaska had released 64 billion rupees to government supplier including importers of dr...

Imesh Ranasinghe
March 19, 2020 1 min read

Sri Lanka to fix fuel prices, build energy stability fund amid COVID-19 crude collapse

Sri Lanka to build a 200 billion rupee fuel price stability fund, by keeping oil prices fixed Minister Bandula Gunewarde...

March 19, 2020 2 min read

Sri Lanka gets US$500mn loan to help fight Coronavirus China says

China and Sri Lanka had inked a 500 million dollar loan agreement which could be used to fight Coronavirus Beijing's emb...

March 18, 2020 1 min read

Sri Lanka lifts taxes on masks, disinfectants in COVID-19 battle

Sri Lanka is removing taxes on imported masks and disinfectants to as demand increases due amid a Coronavirus epidemic, ...

March 18, 2020 1 min read
Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 305.1018 305.3339
UK Pound 386.9523 387.2371
Euro 330.8712 332.1141
Aus Dollar 201.0018 201.4980
Yen 2.0266 2.0278
Source: Central Bank/Indicative
Latest Last
Indian Rupee 3.6453 3.5932
Korea Won 0.2342 0.2292
Oman Rial 780.3569 769.4973
Saudi Riyal 80.1114 78.9849
UAE Dirham 81.7952 80.6569
Source: Central Bank/Indicative
pts %
S&P SL20 2,573.80 1.00%
CSE All Share 9,073.41 0.65%
Turnover Rs million 1,591,766,524.95 1,029,335,694.32
Source: CSE
Latest Last
3-m bill 21.72 21.79
6-m bill 19.55 20.31
12-m bill 17.72 19.28
5-yr bond 21.00 22.53
8-yr bond 19.42 20.55
Source: Central Bank/Indicative
today yesterday
Overnight Money 13.93 14.00
Gilt Repo 13.50 14.00
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka bank credit to state surge in January 2020, private loans muted

Sri Lanka' credit to government from commercial banks had surged to 147.8 billion rupees in January 2020, up from 34.4 b...

March 10, 2020 2 min read

Sri Lanka hires 45,000 graduates in costly fallout from state university crisis

Sri Lanka has announced that 45,585 graduate mainly from state universities who failed to get a job in productive secto...

March 8, 2020 3 min read

Sri Lanka in talks with China for US$1,000mn, RMB2000mn 10-year loans: Minister

Sri Lanka's cabinet has given the nod to negotiate 10-year US dollar and Renminbi denominated loans from China Developme...

March 8, 2020 1 min read

Sri Lanka to subsidise pipe-borne water connections for 150,000 low-income houses

Sri Lanka plans to connect 150,000 new houses to pipe borne water in the first two quarters of 2020 by lowering initial ...

March 5, 2020 1 min read

Sri Lanka to set up state real estate holding company for Hilton, Hyatt, GOH

Sri Lanka will set up a holding company owned by the Treasury, Bank of Ceylon and Sri Lanka Insurance Corporation to con...

March 5, 2020 1 min read

Sri Lanka could finalize billion dollar plus China loan within weeks

Sri Lanka is making good progress with a loans of more than a billion US dollars loan from China Development Bank, which...

March 5, 2020 1 min read

Sri Lanka hikes tax on fish imports

Sri Lanka has hiked a tax on imported fish to 150 rupees a kilogram from 100 rupees or 10 percent of the value, the fin...

March 3, 2020 1 min read

Sri Lanka hotels given more time to pay tourism tax

Sri Lanka's hotels, which were given till January 2020, to pay a tourism tax for 2019, after the industry was hit by sui...

February 29, 2020 1 min read

President wants greater scrutiny of Public Accounts

President Gotabaya Rajapaksa is calling on the Public Accounts Committee (PAC) of Parliament to grade all government ins...

February 29, 2020 2 min read

Sri Lanka willing to sign revised MCC deal addressing concerns: Minister

Sri Lanka's cabinet of ministers had decided not to sign an agreement with the America's Millennium Challenge Corporatio...

February 28, 2020 1 min read