An Echelon Media Company
Tuesday May 24th, 2022
Economy

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

May 24, 2022 2 min read

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

May 23, 2022 3 min read

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 seeks US$500mn credit from India

India has already given US$700mn

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

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

.

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
Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
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

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

Sri Lanka to buy dollars from the 'free' market for oil ships: Prime Minister

To pay the ships we will take action to buy dollars from the free market

May 17, 2022 2 min read

Sri Lanka has to print money for state salaries, depreciating rupee unwillingly:PM

We have to keep in mind that printing money will depreciate the rupee

May 17, 2022 3 min read

Sri Lanka police arrest 3 for using undiyal money transaction

Sri Lanka is desperate for dollar inflows

Dulya de Silva and Neshella Perera
May 17, 2022 2 min read

Sri Lanka PM wants to privatize SriLankan Airlines

I propose that the loss making Sri Lankan Airlines be privatized

May 16, 2022 1 min read

Sri Lanka plans new budget 2022, original targets cannot be achieved: PM

The deficit is projected at 2.4 trillion rupees, or 13 percent of gross domestic product

May 16, 2022 2 min read

Sri Lanka's main opposition decides to conditionally support to new government

New PM needs parliament majority sweeping reforms to deal with an IMF loan for economic recovery

May 16, 2022 2 min read

Sri Lanka money printing in 2022 reaches Rs588bn in first quarter

From January 2020 to March 2022, reserve money has grown 49pct, broad money 52-pct and the food price index 51-pct

May 15, 2022 2 min read

Sri Lanka gets "good response" from envoys, may take 3 months to finalize: PM

In the next few weeks we will face the most difficult time

May 14, 2022 3 min read
1

Sri Lanka won't face hunger crisis, economic situation will get worse before it gets better: new PM

“After I speak to [friendly nations], there will be help coming from there. They won’t allow people to starve.”

May 14, 2022 4 min read