Author: Gayan Chandrasekara
‘s Economic Stabilization by 2028, says IMF
The International Monetary Fund (IMF) has stressed that Sri Lanka must “stay the course” and complete its “own homegrown reform program” to fully stabilize its economy by 2028, signaling the crucial nature of domestic commitment to the country’s long-term financial health. Speaking at a recent press briefing, Thomas Helbling, Deputy Director of the Asia and […]
‘s Upgraded DCTS Rules of Origin Allow SL Manufacturers to Source Up to 100-pct of Inputs Globally
Sri Lankan garment manufacturers will soon have “unprecedented access” to UK markets due to liberalized trade rules set to take effect in early 2026. The changes to the UK’s Developing Countries Trading Scheme (DCTS) will allow more garments manufactured in Sri Lanka to be exported to the UK duty-free. Under the new rules, Sri Lankan […]
Deflation expected to end by Q3-2025; economy to grow by around 4.5-pct in 2025: CBSL
The Central Bank of Sri Lanka (CBSL) has released its second Monetary Policy Report for 2025, in line with the transparency and accountability requirements of the new Central Bank of Sri Lanka Act, No. 16 of 2023. The biannual report offers a forward-looking analysis of the economy, with a specific focus on the inflation and […]
President Vows to Keep Vehicle Imports Open for Sri Lankan Market
President Anura Kumara Dissanayake has announced that there will be no further tax increases or restrictions on vehicle imports. In a stern message, he also criticized those spreading rumors for creating “unnecessary panic” and putting “pressure on the dollar.” Addressing the Parliament, the President sought to provide stability and confidence to the local automotive market […]
Central Bank Imposes New Loan-to-Value Caps on Motor Vehicle Financing
The Central Bank of Sri Lanka (CBSL) yesterday announced new Directions, effective July 18, 2025, imposing maximum loan-to-value (LTV) ratios on credit facilities granted for the purchase or utilization of motor vehicles. These measures, outlined in “Central Bank of Sri Lanka Act Directions No. 02 of 2025,” aim to enhance macroprudential policymaking, mitigate systemic risks, […]
Boost for Sri Lankan garment sector as the UK launches new trade measures under DCTS
The UK government yesterday unveiled a package of reforms aimed at simplifying imports from developing countries such as Sri Lanka. Under the upgraded Developing Countries Trading Scheme (DCTS), businesses will face fewer procedural hurdles when exporting to the UK. British High Commission said in a statement that the changes are designed to boost trade flows […]
Sri Lanka targets energy security via Mullikulam & Hayleys Fentons, unlocking Mannar wind power: Minister
Sri Lanka’s Energy Minister, Engineer Kumara Jayakody, reaffirmed the government’s commitment to fully harness the wind power generation potential of the Mannar region, aiming to overcome the nation’s energy challenges through strategic investment and the adoption of new technologies. The Minister’s statement came during a comprehensive visit to proposed and operational wind power plant sites […]
Sri Lanka Sees 21-pct Increase in Tourist Arrivals in January 2025
Sri Lanka experienced a significant boost in foreign tourist arrivals, with numbers rising by 21.37% year-on-year to 252,761 in January 2025. This follows an 18.18% increase in the previous month, indicating a positive trend for the country’s tourism sector. India led the way as the top tourist source market, contributing 17.2% of the total arrivals. […]
2025 Budget Must Meet EFF Program Parameters for Executive Board Approval: IMF
The International Monetary Fund (IMF) has stressed the importance of the 2025 budget aligning with the parameters of the Extended Fund Facility (EFF) program, as the Executive Board prepares for its upcoming review. Ms. Julie Kozack, Director of the Communications Department at the IMF, highlighted this during a recent press briefing. On November 23rd, 2024, […]
ADB and UNDP come together to support CIABOC on select Anti-Corruption Initiatives in Sri Lanka
The Asian Development Bank (ADB) and the United Nations Development Programme (UNDP) in Sri Lanka have come together to support the Commission to Investigate Allegations of Bribery and Corruption (CIABOC) on select Anti-Corruption Initiatives in Sri Lanka. To symbolically mark the project launch, Mr. Takafumi Kadono, Country Director, Sri Lanka Resident Mission of the Asian Development […]
Sri Lanka Slashes Electricity Tariffs by 20-pct Effective Midnight
The Public Utilities Commission of Sri Lanka (PUCSL) has announced a reduction in electricity tariffs by 20%, effective from midnight today, for the first six months of 2025. This decision follows a series of public consultations and counter-proposals from the Ceylon Electricity Board (CEB). However, the Ceylon Electricity Board has announced that the revised electricity […]
Sri Lanka Reports Full-Year Tourist Surge of 38-pct in 2024, December Arrivals up by 18-pct
Foreign tourist arrivals in Sri Lanka increased by 18.18% year-on-year to 248,592 in December 2024, following a 21.6% rise in the previous month, according to data from the Sri Lanka Tourism Development Authority. Among key markets, India (21.3%) remained the top tourist source market, followed by Russia (14.2%), the UK (7.5%), Germany (5.9%), Australia (5.3%), […]