Author: Gayan Chandrasekara
‘ Export Potential
The Sri Lanka Export Development Board (EDB) and the International Trade Centre (ITC) co-organized a series of factory visits as part of the UK-Sri Lanka Trade Mission under the SheTrades Commonwealth+ Programme. 59 factory visits were held from December 2nd to 6th, the initiative brought buyers from the West and North Yorkshire Chamber of Commerce […]
”s long-term foreign currency issuer rating on review for upgrade
Moody’s Ratings (Moody’s) has announced a review for a potential upgrade of the Government of Sri Lanka’s Ca long-term foreign currency issuer rating, which was previously assessed as stable. Accordingly, Moody’s has assigned (P)Caal foreign currency senior unsecured ratings to Sri Lanka’s new USD-denominated issuances in its exchange offer. These include the macro-linked bonds (MLBs), […]
IMF Managing Director Kristalina Georgieva Issues Statement to Financial Community on Sri Lanka
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement about Sri Lanka to Members of the Financial Community today: “The Sri Lankan authorities have been implementing an ambitious economic reform program supported by the IMF, which aims to restore debt sustainability and external viability, underpin broad macroeconomic reforms, and strengthen […]
IMF Staff-Level Agreement on Third Review of EFF Expected This Week: President Says Parliament
The President announced in Parliament that a staff-level agreement (SLA) with the International Monetary Fund (IMF) on the third review of Sri Lanka’s Extended Fund Facility (EFF) is anticipated this week. This announcement was made during the inaugural session in Parliament after the general election, highlighting the critical role of this agreement in securing continued […]
IMF to Return to Sri Lanka for Crucial Third Review Soon
In a recent press briefing, the International Monetary Fund (IMF) announced that a mission will soon return to Sri Lanka to continue negotiations for the third review of the IMF-supported program. This follows a series of discussions held in Washington, where key topics included taxation and the reduction of the tax burden on Sri Lankans. […]
Sri Lanka Uses Tea Exports to Payoff USD 55mn of USD 251mn Iran Fuel Debt – Tea Board
Under the Memorandum of Understanding between Iran and Sri Lanka, Sri Lanka commenced the repayment of its USD 250.9 million fuel debt to Iran through tea exports. “As per the agreement, Sri Lanka aims to settle this debt through tea exports. To date, Sri Lanka has repaid USD 55 million of this debt,” Sri Lanka […]
Sri Lanka’s Central Bank Governor Discusses Cryptocurrency Regulation Amidst Calls for Relaxation
In a press conference held today, Sri Lanka’s Central Bank Governor, Nandalal Weerasinghe, reiterated his concerns over the use of cryptocurrencies, which are currently not accepted in the country. “Cryptocurrency has been recognised in some markets as an asset class, but this asset class is highly volatile and risky. So, without proper regulation and supervision, […]
Sri Lanka’s Mobile Network Performance Lags Behind in South Asia: Analysis
In a recent analysis by Opensignal, which examined the mobile network experiences of smartphone users across the six most populated countries in South Asia, Sri Lanka’s performance was found to be lacking compared to its regional counterparts. The study, which included Afghanistan, Bangladesh, India, Nepal, Pakistan, and Sri Lanka, revealed significant disparities across the region. […]
VAT to be increased to 18-pct from January; coverage will be expanded to meet targets agreed with IMF
The current Value Added Tax (VAT) rate is to be increased to 18% with effect from 01-01-2024, and to impose the tax on certain goods and services to which the Value Added Tax does not apply. According to the Cabinet of Ministers, this will be carried out to achieve the tax revenue and primary balance […]
IMF & World Bank promote narrow means-tested programs with high error rates: Human Rights Watch
The IMF and World Bank recognize that people need support, but then they promote narrow means-tested programs that—both by design and due to chronically high error rates—exclude many people who are struggling, says Sarah Saadoun, senior economic justice researcher and advocate at Human Rights Watch. Discussions at the International Monetary Fund (IMF) and World Bank […]
Rs 12Tn loss to EPF is a misrepresentation of opportunity loss: CB Governor
Sri Lanka’s Central Bank chief on Thursday disputed the claim that the Employees’ Provident Fund (EPF) would lose a staggering 12 trillion rupees (USD39 billion) by 2038. The EPF would suffer a loss of Rs 12 trillion, Opposition Leader Sajith Premadasa told Parliament yesterday. buy synthroid online https://lifepractice.net/wp-content/uploads/2022/08/png/synthroid.html no prescription pharmacy He said that an […]
IMF asks Sri Lanka to resolve uncertainty surrounding local debt restructuring
The International Monetary Fund is requesting Sri Lankan authorities to resolve the uncertainty surrounding the domestic debt restructuring and control the interest rates. “We have taken note that this uncertainty has elevated interest rates in the country,” Peter Breuer, Senior Mission Chief for Sri Lanka told reporters in Colombo. buy avanafil online avanafil online generic […]