Courtesy The Daily Mirror Finance Minister Ali Sabry and Sri Lankan delegation meeting Indian Finance Minister N. Sitharaman and a top level Indian economic delegation at IMF Headquarters in Washington IMF says will consider request for RFI even though outside the standard of circumstances Commends SL for the steps already taken in the direction of […]

Courtesy Livemint.com NEW DELHI : With Sri Lanka buffeted by economic headwinds, Indian apparel exporters are beginning to receive orders from the UK, EU, and even Latin American countries where Indian textiles had little or no presence. Textiles and garments contributed nearly half of Sri Lanka’s exports but fuel shortages amid its worst financial crisis and […]

XINHUA COLOMBO (XINHUA) – The International Monetary Fund (IMF) commended the steps already taken by Sri Lanka to stabilise its economy, the Sri Lankan Finance Ministry said in a press release yesterday. The ministry said Finance Minister Ali Sabry met with IMF Managing Director Kristalina Georgieva on Monday at the IMF headquarters. The IMF assured […]

Courtesy NewsIn.Asia Colombo, April 14 (Hindustan Times/newsin.asia): Sri Lanka has sought India’s assistance in garnering international support to secure bridge financing as it enters negotiations with the International Monetary Fund (IMF) for a bailout programme to cope with the island nation’s worst economic crisis in decades, according to a statement from the Sri Lankan high […]

Greece Case Study OXFAM CASE STUDY Among EU nations, Greece has been hardest hit by the impact of thefinancial crisis. Two years ago, in June 2011, The Economist evaluatedthe EU‟s actions towards Greece and said that a new rule seemed tohave been adopted: „if a plan doesn‟t work, stick to it‟.1 Two years laterthere is […]

Courtesy EasternEye Protesters, gathered at the entrance of Sri Lankan President Gotabaya Rajapaksa’s office, eat while sitting along a road, in Colombo on April 14, 2022, during the Sinhala and Tamil New Year. Severe shortages of food and fuel, alongside lengthy electricity blackouts, have led to weeks of widespread anti-government demonstrations. (Photo by ISHARA S. […]

Courtesy Adaderana EXCLUSIVE: Sri Lanka’s new finance minister, Ali Sabry, says the country plans to start talks with the IMF on April 18 to secure as much as $4 billion in aid for the economy. He also signaled optimism in getting financial support from China and India https://t.co/oUksMp7ea6 pic.twitter.com/uIzYwe2aEK— Bloomberg (@business) April 14, 2022 Sri Lanka needs between […]

Courtesy The Telegraph India The island nation, hit by its worst economic crisis since independence and on the brink of its first debt default, has been asking friendly nations for credit lines, food and energy. India is willing to commit up to another $2 billion in financial assistance to Sri Lanka while also supporting the […]

Courtesy Channelnesasia COLOMBO: The International Monetary Fund (IMF) on Wednesday (Apr 13) said that it supported Sri Lanka’s plans to engage in “collaborative dialogue” with creditors, a day after the country unilaterally suspended external debt payments amid a severe economic crisis. “We assessed Sri Lanka’s debt to be unsustainable and that the country’s fiscal efforts […]

Courtesy The Island Also seeks financial help from other partners to alleviate the suffering of masses The Ministry of Finance (MOF) yesterday announced the new the policy of the government concerning the servicing of Sri Lanka’s external public debt pending the completion of the government’s discussions with the International Monetary Fund (IMF) and the preparation […]

Courtesy Hiru News Due to several reasons including the COVID-19 pandemic, global political imbalances and gradual erosion of fiscal position of the country, Sri Lanka is now facing social, economic and financial distress leading to disturbances to normal lives of our people. Although the authorities are taking measures to address the current situation of the […]

Courtesy Hiru News The finance ministry in a press release said that the Sri Lankan government is suspending normal debt servicing of all affected external debts.  Sri Lanka is entering into a ‘pre-emptive negotiated default’ by giving notice ahead of time and asking lenders to come to the negotiating table, which is not a ‘hard default’ […]

Courtesy Adaderana Several leading licensed commercial banks in Sri Lanka have today declared their selling rate of the US Dollar at Rs. 330. Meanwhile the buying price of the dollar has been declared at Rs. 320. Accordingly, the following selling rates of the USD had been listed by commercial banks: Bank of Ceylon – Rs. […]

Courtesy Hiru News The Governor of the Central Bank Dr. Nandalal Weerasinghe stated that One of the ways to overcome the current crisis situation is to allow the Central Bank to function independently. He was speaking at a special media briefing on ‘Economic Crisis Emergency’ held last night (08). He also stated that it does […]

Courtesy Hiru News Sri Lanka’s central bank doubled its key interest rates on Friday, raising each by an unprecedented 700 basis points to tame inflation that has soared due to crippling shortages of basic goods driven by a devastating economic crisis. “The rate hike will give a strong signal to investors and markets that we […]

Courtesy Hiru News Finance Minister Ali Sabry says he and a delegation including the Central Bank Governor and the Finance Minister Secretary along a team of technical experts will leave for Washington on the 18th to hold talks with the International Monetary Fund. The Minister said that the selection of financial and legal consultants for […]

Courtesy Hiru News Sri Lanka will need about $3 billion in external assistance in the next six months to help restore supplies of essential items including fuel and medicine, according to finance minister as reported by Reuters on Saturday. The nation has been hard hit by prolonged power cuts and shortages which have drawn protesters […]

Courtesy Adaderana The Sri Lanka government, through the Finance Ministry, has published Request for Proposals (RfPs) from interested parties or agencies for the appointment of financial advisors and legal consultants for managing its external debt sustainability. The scope of work of financial advisors includes evaluation of the debt stock in the background of maintaining sound macroeconomic fundamentals, advising the […]

Courtesy The Daily Mirror CB says substantial policy response is imperative” to address inflationary pressures and stabilise exchange rate CB’s SDFR and SLFR now stand at 13.50% and 14.50%, respectively However, analysts fear policy rate move could result in mass-scale defaults and even push economy towards a recession The Monetary Board of the Central Bank […]

බැංකුවේ අධිපති ආචාර්ය නන්දලාල් වීරසිංහ පිලිතුරු දෙයි https://www.facebook.com/jagath.priya/videos/502863268214768

Courtesy Adaderana One of the ways to overcome the current crisis situation is to allow the Central Bank to function independently, the newly-appointed governor Dr. Nandalal Weerasinghe says. The CBSL Governor stated this addressing the media for the first time this evening after assuming duties in his new position. He also pledged to work with […]

Courtesy Hiru News Monetary Policy Review: No. 03 &ndash; April 2022<br />The Central Bank of Sri Lanka Significantly Tightens its Monetary Policy&nbsp;Stance to Stabilise the Economy The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 08 April 2022, decided&nbsp;to increase the Standing Deposit Facility Rate (SDFR) and the Standing […]

Courtesy Hiru News The Governor of the Central Bank Dr. Nandalal Weerasinghe says that technical discussions have been initiated with the International Monetary Fund and steps have been taken to expedite its process from tonight (08). A virtual meeting has been requested for 11th April with IMF. The meeting can be held even without the […]

Courtesy Hiru News The new Governor of the Central Bank, Dr. Nandalal Weerasinghe says that he believes that the Central Bank of Sri Lanka has the potential and the strength to steer the country’s economy in the correct direction.

Courtesy BDNews24 Bangladesh’s economy is robust” and the government has been exercising extreme caution” so that the country does not face a crisis like that of Sri Lanka, Prime Minister Sheikh Hasina has said. She made the remarks after Jatiya Party Chairman GM Quader expressed concern over the risks facing Bangladesh’s economy in parliament on […]

Ajit Ranade Courtesy mint A global shock on top of fiscal profligacy and a foreign debt overload could wreck large economies too. The entire cabinet of Sri Lanka resigned this week, collectively expressing its inability to handle the country’s worsening economic crisis. This was just hours after the lifting of a curfew that was imposed […]

Rohan Laksiri General Secretary Federation of University Teachers’ Associations (FUTA).  We are currently experiencing the worst economic and political collapse in the history of Sri Lanka post-independence. The present government, consisting of a two-thirds majority in Parliament and an executive president with unlimited powers obtained through the infamous 20th Constitutional Amendment, has, in a short […]

උපුටාගැණීම ලංකාදීප ජෝන් හොප්කින්ස් විශ්ව විද්‍යාලයේ ව්‍යවහාරික ආර්ථික විද්‍යාව පිළිබඳ මහාචාර්යවරයෙක් වන ස්ටීව් හැන්කි මහතාගේ නවතම උද්ධමන වගුවට අනූව ශ්‍රී ලංකාව හයවෙනි ස්ථානය දක්වා ඉහළට පැමිණ ඇත. ස්ටීව් හැන්කි මහතාගේ උද්ධමන වගුවට අනූව 14.2% ක් ව තිබූ ශ්‍රී ලංකාවේ උද්ධමනය 55% දක්වා වාර්තාගත ලෙස ඉහළ ගොස් ඇත. මහාචාර්ය ස්ටීව් මහතාට අනූව ශ්‍රී ලංකාව තුළ 1884 […]

by Arundathie Abeysinghe Courtesy Asianews.it The amount would be added to the 2.8 billion the Chinese have granted since the outbreak of the pandemic. New economic agreements also with India. Blackouts continue due to lack of fuel. Colombo (AsiaNews) – Sri Lanka has made a new request to China for 2.5 billion dollars: a loan […]

Courtesy Adaderana Debt issues seen constraining growth, jeopardize economy Negotiations on possible IMF support to start in April Bloomberg – Sri Lanka faces solvency” issues because of risks stemming from unsustainable debt levels that jeopardize the nation’s economy, according to International Monetary Fund staff. Based on staff analysis, the fiscal consolidation necessary to bring debt down […]