An Echelon Media Company
Sunday May 16th, 2021
Economy

Sri Lanka gets US$80.5mn from World Bank to buy Coronavirus vaccines

The lender has provided US$298mn to fight the pandemic

4 minutes

Sri Lanka to subsidize farmers and consumers if fertilizer ban hits yields

"The President said that the government is ready to bear the cost to ensure that the consumers can purchase rice for exi

2 min read

Sri Lanka state workers take 86 cents of every tax rupee home in Covid-19 pandemic

Under 'revenue based fiscal consolidation' state sector was expanded and salaries raised over several years

2 min read

Sri Lanka inks US$500mn deal with Korea for Eximbank finance

Export Import Bank of Korea will give loans of up to 40-year payback with 10-year grace at rates of 0.15-0.2-pct

1 min read

Sri Lanka allows import of some agro-chemicals under license

The new rules apply to bills of lading and airway bills dated May 06 or after.

Sri Lanka's CPC hit by Rs21.8bn forex loss due to soft-peg

CPC had bank borrowings of Rs318bn or 2.5-pct of GDP with the central govt already running a 101-pct of GDP debt

Sri Lanka projects exports of US$12.5bn, forex reserves of 3.2 months of imports in 2021

Past projections have been wildly off target when money was printed for 'stop-go' policies

3 min read

Sri Lanka rupee in non-credible peg at 199.95 to US dollar

5 min read

Sri Lanka's private, state credit soars in March 2021, rupee down

Sri Lanka's private credit from commercial banks grew by 112.2 billion rupees in March 2021

2 min read

Sri Lanka President plants turmeric in garden in import substitution drive

Five 'grade-A' turmeric plants would be given to 1.5mn families to produce their own requirements

2 min read

Sri Lanka per capita GDP drops in 2021 amid Covid-19, monetary instability

Hgher levels of monetary instability and lower growth was seen from around 2015 with 'flexible' policy

2 min read

Sri Lanka inflation at 3.9-pct in April 2021

he food sub-index was up 9.0 percent during the past 12 months.

1 min read

Sri Lanka to ban import, use of fertilizer, agro-chemicals to save foreign exchange

The state will direct the fertilizer subsidy to cover crop losses

3 min read

Sri Lanka domestic dollar bond rates race ahead of rupee yields

The inverted interest rates differential had already turned forward exchange rate premiums negative

3 min read

Sri Lanka GDP to grow 4.1-pct in 2021: ADB

Sri Lanka’s challenging macroeconomic situation will likely moderate growth in 2022

3 min read

Sri Lanka rupee closes wide at 200/205 to one month dollar amid moral suasion

Interbank forex market largely inactive

1 min read

Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 199.5000 199.5695
UK Pound 280.6067 281.7522
Euro 241.0758 242.1377
Aus Dollar 154.3033 155.9436
Yen 1.8202 1.8334
Source: Central Bank/Indicative
Latest Last
Indian Rupee 2.7086 2.7185
Korea Won 0.1766 0.1778
Oman Rial 518.1953 518.3758
Saudi Riyal 53.1957 53.2143
UAE Dirham 53.1957 54.3320
Source: Central Bank/Indicative
pts %
S&P SL20 2,869.52 0.67%
CSE All Share 7,228.23 0.93%
Turnover Rs million. 1,279,238
Source: CSE
Latest Last
3-m bill 5.07 5.04
6-m bill 5.11 5.09
12-m bill 5.16 5.15
5-yr bond 7.38 7.12
8-yr bond 7.87 7.71
Source: Central Bank/Indicative
today yesterday
Overnight Money 4.65 4.65
Gilt Repo 4.68 4.67
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka embassy in Kuwait repatriates 6,000 stranded migrant workers

The Sri Lanka embassy in Kuwait says it has repatriated 6,000 stranded migrant workers

Mahadiya Hamza

2 min read

Sri Lanka gets US$80.5mn from World Bank for Covid-19 vaccines

World Bank has also re-directed funds from existing loans for Coronavirus costs

1 min read

Sri Lanka merchandise exports reach US$1,066.1mn in March 2021

Export earnings were up 11.5 percent in the first quarter of 2021 to 2,945.53 million US dollars.

1 min read

Sri Lanka forex market caught between moral suasion and slashed NOPs

Bank treasurers summoned by authorities

4 min read

Sri Lanka to set up state agency to guarantee SME credit

Proposed National Debt Securities Centre to guarantee loans to small and medium businesses

1 min read

Sri Lanka firms allowed to borrow forex abroad

Units of foreign companies have been allowed to borrow from parents

7 min read

Sri Lanka raises tax on imported potatoes to Rs50

Sri Lanka has raised a tax on potatoes to give higher profits to farmers as harvests come in

1 min read

Sri Lanka's unemployment rate down to 5.2-pct 4Q-2020

Sri Lanka's unemployment fell to 5.2 percent in the fourth quarter of 2020 from an 11 year high of 5.8 percent in the th...

1 min read

Sri Lanka residents who earn abroad allowed to maintain foreign bank accounts

Sri Lanka residents who have worked abroad, and individuals or firms providing services to foreigners can now open accou...

5 min read

Sri Lanka sugar SOE making profits after ethanol ban

Lanka Sugar Company (Pvt) Ltd, built by re-expropriating two privatized firms, are now making profits after ethanol impo...

3 min read

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