Notable
Sri Lanka is also aiming to keep inflation below 5 percent
While the spend per visit has reduce, the frequency of shopping at outlets had increased
A new PPP law with recent revisions with the legal draftsman
Earlier this week, cabinet gave approval to hire 8,547 more state workers, mainly policemen
The loans will be provided by commercial banks
Govt allocates significant funds for public investment. some of which could be replaced by new tools
Sri Lanka was emerging from a successful stabilization crisis with lower inflation, rates and stronger exchange rate
Sri Lanka expects to wrap a debt exchange by December 31
Seeks authority to pay Rs4,197bn paid out of the consolidated fund including for debt repayment
Targeted subsidies instead of sweeping tax cuts
Ca national rating on watch for upgrade
I do not think it would be in the best interests of anyone to holdout
Some of the allocations are for grants
Agreements with bondholders mark a significant step forward
Four month vote-on-account on December 05 and 06
Local investors, mostly banks, hold about 12 percent of the bonds
| Latest | Last | |
|---|---|---|
| US Dollar | 331.7485 | 330.8514 |
| UK Pound | 443.7468 | 438.3450 |
| Euro | 372.5204 | 371.0168 |
| Yen | 2.0969 | 2.0916 |
| Aus Dollar | 233.0533 | 231.1659 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.4948 | 3.4202 |
| Korean Won | 0.2499 | 0.2479 |
| Oman Rial | 861.6397 | 859.3320 |
| Saudi Riyal | 88.4403 | 88.0955 |
| UAE Dirham | 90.3209 | 90.0766 |
| pts | % | |
|---|---|---|
| S&P SL20 | 5,656.91 | -0.43% |
| CSE All Share | 19,927.30 | -0.28% |
| Turnover Rs | 1457.79 million | 1193.67 million |
| Latest | Last | |
|---|---|---|
| 3-m bill | 7.61 | 7.84 |
| 6-m bill | 7.91 | 8.26 |
| 12-m bill | 8.23 | 8.3 |
| 3-yr bond | 9.24 | 9.25 |
| 5-yr bond | 9.82 | 9.56 |
| 8-yr bond | 10.50 | 10.48 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 7.70 | 7.69 |
| Gilt Repo | 7.74 | 7.72 |
| I-m SLIBOR | - | - |
The committee negotiated bonds, whose principal and interest go up if GDP grows faster than expected
Sri Lanka advisors are separately looking at the issue
Capex picks up, interest bill flat, despite higher debt
We will be interested in convincing ourselves that this budget is in line with the program objectives
Sri Lanka is expecting to wrap up a bond exchange in December
Sri Lanka may have to boost revenues by 1.2-pct of GDP in 2025
We have a strong belief that the NPP can build an economy that will be bigger than the debt repayment share: President
It is a decision by the government, the fiscal authority
Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated 1/1/20) and Privacy Policy and Cookie Statement (updated 1/1/20). Your California Privacy Rights. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Condé Nast. Ad Choices.
Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
© 2023 Echelon Media (PVT) Ltd. All Rights Reserved
2 min read