An Echelon Media Company
Tuesday May 24th, 2022
All Sections
Notable
All three institutions are adopting a co-ordinated approach to sustain basic services and livelihoods
9,000 metric tonnes of rice, 200 metric tonnes of milk powder and 24 metric tonnes of essential medicines arrived.
Money printing triggers excess outflows, forcing the currency down and triggering parallel exchange rates
Non-oil imports fell 17.7 percent to 1,299.1 million US dollars in March 2022
In our expectations the economy will contract at the highest rate than in any other year in history
Forex shortage disrupt energy supplies to industries
We have to keep in mind that printing money will depreciate the rupee
Sri Lanka is desperate for dollar inflows
I propose that the loss making Sri Lankan Airlines be privatized
The deficit is projected at 2.4 trillion rupees, or 13 percent of gross domestic product
New PM needs parliament majority sweeping reforms to deal with an IMF loan for economic recovery
From January 2020 to March 2022, reserve money has grown 49pct, broad money 52-pct and the food price index 51-pct
In the next few weeks we will face the most difficult time
“After I speak to [friendly nations], there will be help coming from there. They won’t allow people to starve.”
Prime Lending Rates top 19 percent in May after rate corrections
Tourism receipts estimated at US$174mn up from US$9mn last year
| 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 |
| 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 |
| 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 |
| 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 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 14.50 | 14.50 |
| Gilt Repo | 14.50 | 14.50 |
| I-m SLIBOR | - | - |
If there is not enough money the central bank has to monetize it
SLIM said it empathizes with all Sri Lankans grappling with ongoing breakdowns in various public services.
Sri Lanka shippers asks for international trade not to be disrupted, condemns violence
"Due to security reasons, other fuels are not being distributed."
“We don’t even have reserves to import essentials for the next one week,” he said.
The EU urges all parties to refrain from violence and to show restraint
We are following developments in Sri Lanka closely and are concerned about rising social tensions and violence
We firmly emphasize the importance of formulating and implementing medium and long-term economic and structural reforms
The destruction of Sri Lanka's public service began with temporary secretaries
Total advanced to banks through swaps have risen to US$351mn
This site uses cookies to help us improve and customize your experience. Learn more about how we use cookies in our cookie policy.
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
© 2022 Echelon Media (PVT) Ltd. All Rights Reserved
3 min read