Category: Economy and Markets
Sri Lanka central bank revises foreign assets
May 18, 2009 (LBO) – Sri Lanka’s has adopted a different reporting format for foreign reserves, giving a breakdown of cash advanced to domestic banks, Central Bank governor Nivard Cabraal said. But the government officially declared fighting at an end Monday with state media saying the top leadership of Tamil Tiger separatists has been killed. […]
IMF loan for Sri Lanka not appropriate right now: Clinton
WASHINGTON, May 14, 2009 (AFP) – US Secretary of State Hillary Clinton said here Thursday it “is not an appropriate time” to consider a massive International Monetary Fund loan for Sri Lanka. Clinton told reporters that the United States has been “trying to convince both sides,” the Sri Lankan government and the Tamil Tiger guerrillas, […]
Sri Lanka needs IMF loan: Strauss-Kahn
May 15, 2009 (LBO) – International Monetary Fund Managing Director Dominique Strauss-Kahn said Sri Lanka needs the help of the multilateral lending agency and talks were still underway on the IMF loan.He told a news conference Friday that Sri Lanka, which has asked for a 1.9 billion dollar IMF loan, was a “special situation”. Strauss-Kahn […]
Sri Lankan shares up, Asia Capital stake sold
May 15, 2009 (LBO) – Sri Lankan shares went up across-the-board Friday on news the war would end in the next few days, while 26.83 percent of Asia Capital shares changed hands in a local to foreign deal, broker said. The All Share Price Index of the Colombo stock exchange rose 1.23 percent (23.25 points) […]
Sri Lanka dismisses US threat to hold back IMF loan
May 15, 2009 (AFP) – Sri Lanka dismissed Friday a US threat to link a nearly two-billion-dollar IMF bailout package to ending the war-torn island’s humanitarian crisis. Despite Clinton’s remarks, Cabraal said he was confident the rescue package would be approved. “There are conflicts in many countries and I don’t think the IMF will set […]
Sri Lankan migrants intercepted off Indonesia
BANDA ACEH, May 14, 2009 (AFP) – Fifty-five Sri Lankan migrants were intercepted Thursday off the coast of western Indonesia as they tried to reach Australia to look for work, police said.Fishermen found the migrants, men aged from 25 to 30, aboard a damaged wooden boat two kilometres (just over a mile) from the coast […]
Sri Lanka central bank “deeply distressed”‘s IMF remarks
May 14, 2009 (LBO) – Sri Lanka’s central bank said it was “deeply distressed” over doubts raised by Britain’s foreign minister about the use of money from an expected International Monetary Fund loan. IMF money goes into the balance sheet of the central bank, which is a separate entity from the finance ministry. Through the […]
Sri Lanka working on alternatives to IMF money: CB Governor
May 14, 2009 (LBO) – Sri Lanka is working on a back-up plan with other countries to boost foreign reserves in addition to an International Monetary Fund (IMF) loan, Central Bank governor Nivard Cabraal said.“All of us must have a plan A, plan B, plan C and plan D if possible and we are working […]
Sri Lankan youth in former war zone get US training
May 14, 2009 (LBO) – The US Agency for International Development (USAID) said it is providing training scholarships to 500 young people from Sri Lanka’s north and east which is recovering from decades of war.The scholarships are given through the agency’s Unlimited Potential Partnership program (UPP) which currently provides workforce training programs in three key […]
Sri Lankan stocks up, rupee steady
May 14, 2009 (LBO) – Sri Lankan shares recovered Thursday while the rupee opened at 117.70/90 against the dollar and remained at the same levels by late afternoon trade, brokers and dealers said. In the stock market the All Share Price Index closed up 0.75 percent (13.97 points) to end at 1,884.42 while the Milanka […]
Sri Lanka bills yields edge lower
May 14, 2009 (LBO) – Sri Lanka’s Treasury bill yields edged down 02 to 05 basis points as the government sold 12.9 billion rupees worth of securities, including a roll-over of 10 billion rupees. The government sold 3.1 billion rupees of 3-month bills, 4.1 billion rupees of 6-month bills, and 5.6 billion rupees of 12-month […]
Sri Lankan stocks down, rupee weakens
May 13, 2009 (LBO) – Sri Lankan shares weakened Wednesday, as retail investors took defensive positions, while the rupee lost ground against the dollar on fears an International Monetary Fund bailout might get delayed, brokers and dealers said. The rupee opened at 117.50/117.70 and fell to 117.60/117.90 levels by late afternoon trade, dealers said. At […]