An Echelon Media Company
Monday September 25th, 2023

Lisa Kaestner appointed Sri Lanka and Maldives Country Manager for IFC

ECONOMYNEXT – Washington-based International Finance Corporation, said Lisa Kaestner has been appointed country manager for Sri Lanka and the Maldives.

She replaces Amena Arif, who has moved to East Africa.

A US national, Kaestner had joined IFC in 1999 as the resident representative in Georgia, after working with several non-profit development organizations in the Caucasus region. With over 20 years of experience with the World Bank Group,

Kaestner had led IFC’s advisory services in Eastern and Southern Africa and has 20-years experience in the World Bank group, of which the agency

Kaestner holds a Master’s degree in Public Policy and Economics from Princeton University.

“Sri Lanka and Maldives have demonstrated their resilience against multiple headwinds over the years,” Kaestner said.

“Both countries have immense potential—especially in terms of human capital. I look forward to continuing and deepening IFC’s strong partnership with the private sector and the governments of Sri Lanka and Maldives…”

IFC has invested 1.9 billion US dollars in Sri Lanka over the past 50 years. Since 1983, the IFC has invested 200 million US dollars in the Maldives. (Colombo/Mar01/2022)

Leave a Comment

Your email address will not be published. Required fields are marked *

Leave a Comment

Leave a Comment

Cancel reply

Your email address will not be published. Required fields are marked *

Sri Lanka sells 2028 bonds at 14.52-pct

ECONOMYNEXT – Sri Lanka sold all offered bonds in 2026 and 2028 maturities raising 220 billion rupees from an auction Monday, data from the state debt office showed.

The debt office sold 135 billion rupees of 1 June 2026 bonds to yield 15.64 percent.

Another 85 billion rupees in 01 July 2028 bonds were sold to yield 14.52 percent.

The 2028 bond is offered on tap at the weighted average yield. (Colombo/Sept25/2023)

Continue Reading

Sri Lanka’s stocks end down on Monday after slow day of trading

ECONOMYNEXT – Sri Lanka shares were down at close of trading on Monday.

Turnover was 550 million rupees.

The main All Share Price Index was down 0.36 percent or 40.02 points to 11,216.50, while the S&P SL20 was down 0.44 percent or 14.07 points to 3,164.52.

Trading in the Capital Goods Industry (174,037,134) drove turnover.

Commercial Bank, Expolanka Holdings, and Aitken Spence plc saw losses, while National Development Bank, John Keells Holdings and Melstacorp saw gains in the day’s trading.

The market saw a net foreign inflow of 13 million rupees, while the yearly net foreign inflow was 429 million rupees. (Colombo/Sep25/2023)

Continue Reading

Sri Lanka rupee closes at 324.75/324.90 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 324.75/90 to the US dollar on Monday, from Friday’s close at 324.70/325.00 dealers said.

Bond yields were up.

A bond maturing on 01.07.2025 closed up at 15.55/15.70 percent on Monday, after closing at 14.95/15.30 percent on Friday.

A bond maturing on 01.08.2026 closed up at 15.50/15.65 percent up from 14.95/15.10 percent.

A bond maturing on 15.09.2027 closed up at 14.75/15.50 percent from 14.55/15.00 percent.

A bond maturing on 01.05.2028 closed up at 14.25/14.60 from 14.00/14.30 percent.

A bond maturing on 15.05.2030 closed stable at 13.00/13.50.

A bond maturing on 01.07.2032 closed at 12.95/13.45 percent from 13.00/13.45 percent. (Colombo/Sept25/2023)

Continue Reading