An Echelon Media Company
Tuesday May 24th, 2022
Economy

World Bank, ADB, AIIB to work together on financing Sri Lanka

All three institutions are adopting a co-ordinated approach to sustain basic services and livelihoods

May 23, 2022 1 min read

Indian shipment of rice, milk powder, medicines worth 2bn arrive in Sri Lanka

9,000 metric tonnes of rice, 200 metric tonnes of milk powder and 24 metric tonnes of essential medicines arrived.

May 22, 2022 1 min read

Sri Lanka remittances down 52-pct in April 2022

Money printing triggers excess outflows, forcing the currency down and triggering parallel exchange rates

May 22, 2022 3 min read

Sri Lanka non-oil imports down in March 2022 as soft-peg collapses

Non-oil imports fell 17.7 percent to 1,299.1 million US dollars in March 2022

May 21, 2022 3 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

Sri Lanka April 2022 exports hit record high amid forex shortages

Forex shortage disrupt energy supplies to industries

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

Sri Lanka private credit, imports showing signs of slowing: CB Governor

Prime Lending Rates top 19 percent in May after rate corrections

May 14, 2022 2 min read
1

Sri Lanka exports soar in Feb 2022, imports up with tourism, credit

Tourism receipts estimated at US$174mn up from US$9mn last year

May 13, 2022 2 min read
1
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

Sri Lanka will have to print money unless taxes are raised: CB Governor

If there is not enough money the central bank has to monetize it

May 12, 2022 3 min read
6

Sri Lanka violence could tarnish image as democratic liberal market country: SLIM

SLIM said it empathizes with all Sri Lankans grappling with ongoing breakdowns in various public services.

May 12, 2022 2 min read
1

Sri Lanka shippers asks for international trade not to be disrupted, condemns violence

Sri Lanka shippers asks for international trade not to be disrupted, condemns violence

May 12, 2022 4 min read

Fuel, gas distribution temporarily suspended in Sri Lanka amid curfew

"Due to security reasons, other fuels are not being distributed."

Chanka Jayasinghe
May 11, 2022 1 min read

Sri Lanka central bank chief threatens to resign amid worsening political instability

“We don’t even have reserves to import essentials for the next one week,” he said.

May 11, 2022 2 min read
1

EU calls for calm in Sri Lanka, probe on instigators of violence

The EU urges all parties to refrain from violence and to show restraint

May 11, 2022 2 min read

Sri Lanka IMF technical talks to continue

We are following developments in Sri Lanka closely and are concerned about rising social tensions and violence

May 11, 2022 2 min read

Sri Lanka Central Bank union calls for calm, political stability

We firmly emphasize the importance of formulating and implementing medium and long-term economic and structural reforms

May 11, 2022 4 min read

Sri Lanka without ministers, ministries without secretaries

The destruction of Sri Lanka's public service began with temporary secretaries

May 10, 2022 2 min read

Sri Lanka central bank advances more dollars to banks

Total advanced to banks through swaps have risen to US$351mn

May 9, 2022 2 min read