Category: Economy
EDB Addresses US Tariff Challenge with Industry Leaders
Government officials and export sector representatives unite to address 20% US tariff impact on Sri Lankan goods The Sri Lanka Export Development Board (EDB) held a successful discussion today (06th) regarding the 20% tariff recently imposed by the United States on Sri Lankan goods. High-level government officials and numerous export sector representatives gathered for this […]
US Lowers Tariffs on Sri Lankan Imports to 20-pct
The United States has once again lowered tariffs on goods imported from Sri Lanka, with the new rate set at 20%. This move, confirmed by the White House, follows an executive order signed by President Donald Trump that also revises tariffs for 40 other nations. The new tariff rate will come into effect on August […]
IMF Staff Concludes Visit to Sri Lanka
The economic reforms implemented by Sri Lankan authorities are bearing fruit, with growth outperforming, inflation progressing to target, external reserves accumulating, and fiscal revenues improving. Sustaining the reform momentum is critical to safeguarding macroeconomic stability, entrenching the recovery, and building Sri Lanka’s resilience to shocks amid trade policy uncertainty and geopolitical tensions. Progress in meeting […]
The Once and Future Industrial Northern Province
By Jekhan Aruliah The Chamber of Commerce and Industries of Yarlparnam, CCIY, was born in the short period of optimism in 1999. When the Sri Lankan Civil War, at that time already aflame for 16 years, seemed to be heading toward a settlement. Opposing sides were sitting at the same negotiating table. That optimism was […]
Reduction in tariff from 44-pct to 30-pct is a constructive & important first step: Ceylon Chamber
The Ceylon Chamber of Commerce views the reduction in the tariff rate from 44% to 30% a constructive and important first step by the Government toward bringing Sri Lanka’s tariff structure for exports to the U.S. closer to that of regional competitors. “We encourage continued engagement with the U.S. administration to secure a further reduction […]
‘s EFF, Unlocking USD350 Mn in Support
The International Monetary Fund (IMF) Executive Board has successfully completed the Fourth Review under Sri Lanka’s 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR 254 million (about USD 350 million). This latest disbursement brings the total IMF financial support provided to Sri Lanka so far to SDR 1.27 billion (about USD […]
IMF Chief Warns Sri Lanka Against “Reform Fatigue,” Hails “Remarkable Progress” Post-Crisis
The International Monetary Fund (IMF) today lauded Sri Lanka’s “remarkable progress” in its economic recovery but issued a stark warning against abandoning crucial reforms. Speaking at a conference in Colombo, IMF First Deputy Managing Director Gita Gopinath emphasized that the island nation’s current path “this time must be different.” Gopinath highlighted significant strides since the […]
Sri Lanka records 4.8-pct GDP growth rate for 1Q 2025
Issuing a communiqué, on releasing National Accounts Estimates, the DCS states that the GDP growth rate for the first quarter of 2025 has been estimated as 4.8 percent of positive growth rate. Accordingly, the Gross Domestic Product for Sri Lanka for the first quarter of the year 2025 at constant price (2015) has increased up […]
Discussion Focused on a Long-Term Industrial Development Strategy to Overcome Export Barriers
A discussion on the challenges facing Sri Lanka’s export industry was held this morning (28) at the Presidential Secretariat, under the patronage of President Anura Kumara Disanayake. The meeting brought together heads of institutions under the Ministry of Industry and Entrepreneurship Development, as well as officials from the Ministry of Finance and Planning. The discussion […]
‘s Electricity Reforms, Financing Assurances Review for Next Tranche
The much-anticipated approval of Sri Lanka’s Extended Fund Facility (EFF) program by the International Monetary Fund (IMF) Executive Board is expected “in the coming weeks,” but its precise timing hinges on two key contingencies, according to Julie Kozack, Director of the IMF’s Communications Department. During a press briefing on May 22, 2025, Kozack addressed questions […]
CSE and NCE Partner to Empower Sri Lankan Exporters
The Colombo Stock Exchange (CSE) and the National Chamber of Exporters of Sri Lanka (NCE) entered into a strategic partnership to support Sri Lankan exporters by enhancing their access to capital market opportunities and broadening visibility for their businesses. The partnership agreement was signed by Mr. Shiham Marikar, Secretary General / CEO, The National Chamber […]
Sri Lanka delegation agrees to work with US in lowering tariff and non-tariff barriers
Statement by the Government of Sri Lanka on discussions held in Washington DC with United States Trade Representative (USTR) Office on reciprocal tariff A Sri Lankan delegation met with US Trade Representative Ambassador Jamieson Greer on the 22nd of April, 2025 at the US Trade Representative Office in Washington D.C. Sri Lankan delegation on the […]