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Friday December 8th, 2023

Sri Lanka to slash 5-pct from budget; Samurdhi payment to be delayed


January 10, 2023 1 min read

Sri Lanka runs BOP surplus in November 2022

The BOP surplus since September is US$147mn

January 10, 2023 3 min read

Sri Lanka businesses see tax hike pressure, lower sales - analysts 

Businesses in Sri Lanka are preparing for a tax shock from this month

January 9, 2023 3 min read

Sri Lanka boat people detentions soar over 10-fold in 2022

Australia the top destination

January 9, 2023 1 min read
Sri Lanka to guarantee 9.0-pct return for re-structured provident fund

Current member balances would be unaffected by the restructure

World Bank approves US$700mn IDA loans for Sri Lanka

MIGA, IFC support in a new country support package

Sri Lanka chamber writes to President, seeks SOE restructuring, fertilizer re-think, debt relief

Suggests series of reforms

June 26, 2021 26 min read

Sri Lanka has spent Rs 260 bn in providing relief since COVID-19 emerged: President

Some 30 billion rupees spent has been spent to pay a 5,000-rupee allowance to daily wage earners

June 25, 2021 2 min read

Sri Lanka adds Thai Bhat to designated foreign currencies for off-shore banking

The Colombo Port City multiple currency dollarised area will also use designated currency

June 25, 2021 1 min read

Sri Lanka's upside down rupee dollar swap rates show deep MMT financial crisis: Harsha

One year swap at 1800. Who will believe that the rupee will strengthen to 182 in the next 12 months?

June 24, 2021 9 min read

Sri Lanka ex-PM Ranil says only alternative is to go to IMF

"If you are not agreeable, tell us what the alternative is"

June 23, 2021 4 min read

Sri Lanka to increase 2021 spending by extra 1.2-pct of GDP

Before the supplementary estimate the deficit was projected at 9.5-pct of GDP

June 23, 2021 1 min read

Sri Lanka's central bank credit exceeds monetary base in MMT money printing

In the past policy corrections tended to be made much earlier.

June 23, 2021 3 min read

Sri Lanka to merge Laugfs, Litro operations, LPG price controls to remain: Minister

Government to support losses

June 22, 2021 2 min read

Sri Lanka rupee, forex markets in pickle as LC rationing froths

Money printing has pushed dollar yields above rupee rates

June 22, 2021 4 min read

Sri Lanka to import rice as trade controls strengthen domestic grain 'mafia'

Rice price spike not due to fertilizer ban

June 22, 2021 4 min read
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Sri Lanka lifts coconut price controls as monetary nuts loosened

A 13 inch coconut was controlled at 80 rupees under earlier order

June 22, 2021 3 min read

Sri Lanka exports US$884mn in May; US, EU top buyers

The EU as a region bought 210 million US dollars of goods, just behind the US.

June 21, 2021 1 min read

Sri Lanka runs US$929mn dollar BOP deficit up to April 2021

In the first six months of 2021 the central bank's Treasury bill stock went up Rs171bn

June 21, 2021 3 min read

Sri Lanka prints Rs22bn after failing to sell bills at ceiling rate

Money printing has resumed in June

June 21, 2021 2 min read

Sri Lanka trying to re-finance billion dollar CPC 'Nick Leeson' loan from state banks: report

Bank loans and suppliers credits were a total of 3,355 million US dollars or 635 billion rupees

June 20, 2021 3 min read

Japan donates one million AstraZeneca doses to Vietnam as 'Extensive Strategic Partner'

Japanese businesses have also donated to Vietnam's vaccine fund

June 19, 2021 3 min read

Sri Lanka president declares services relating to ports, fuel supply, etc as essential

Sri Lanka is in an unofficial COVID-19 lockdown since May 21 with curfew-like movement restrictions imposed island wide.

June 18, 2021 2 min read

Japan firm claims damages of Rs5.8bn from Sri Lanka after LRT deal scrapped

When the LRT deal was scrapped, consultancy contract was already awarded

June 18, 2021 1 min read

Sri Lanka imports at US$1.7bn in April, trade deficit 889mn amid credit recovery

Economic activity slows in April after surge in March

June 18, 2021 2 min read

Sri Lanka minister warns of financial terror, mystery deepens over fuel stabilization fund

“Instead of lying (un-der-ner-war) to the people I like to tell them the truth.”

June 17, 2021 5 min read