Courtesy The Daily Mirror Although Sri Lanka tourism had to face some unprecedented challenges over the past couple of years, the industry is now back on track for recovery, said the Sri Lanka Tourism Development Authority (SLTDA).  Giving a positive message on World Tourism Day, the state agency highlighted that over the past couple of months, […]

Courtesy CNA MANILA/TOKYO: The Asian Development Bank (ADB) is ready to provide further financial support to Sri Lanka, a top official of the regional lender said on Tuesday (Sep 27), as the Indian Ocean nation battles its worst economic crisis in more than seven decades. The remarks came after an ADB pact this month for […]

Courtesy orinoco tribune The IMF released a report today on the Bolivian economy in which it recommends adopting drastic neoliberal measures, including; reducing workers’ salaries, cutting public investments, and ending currency controls. These policies have turned Bolivia from one of the poorest countries in the region into it’s fastest-growing economy. The report takes aim at […]

Courtesy Adaderana President Ranil Wickremesinghe says that discussion on restructuring Sri Lanka’s bilateral debt has already commenced with India and China at a lower level and that he is visiting Japan to discuss their role it the process. He stated that talks with China would go to a higher level probably after the National Congress […]

Courtesy The Daily Mirror Chinese State Councilor and Foreign Minister Wang Yi met with Sri Lankan Minister of Foreign Affairs Ali Sabry on the sidelines of the general debate of the UNGA 77 in New York on September 23.  Wang Yi said that China and Sri Lanka established the relations of strategic partnership of cooperation, […]

By Raj Moorthy Courtesy The Sunday times Audience. There are many debates these days as to why Sri Lanka must or must not reach out to the International Monetary Fund (IMF) for assistance in overcoming the current debilitating economic crisis. Looking at four things about today’s economic situation that is historically unprecedented for Sri Lanka […]

Courtesy Business Standard Amid the worst-ever economic crisis since the country gained independence in 1948, Sri Lanka’s inflation rate jumped to 70.2 per cent in August, official data revealed on Thursday.

by Arundathie Abeysinghe Courtesy AsiaNews Discussions are underway between central banks to allow Russian credit cards to operate in Sri Lanka. Last year almost 17,000 Russian tourists visited the island. The country is in economic recovery and also hopes to obtain a loan to buy fuel. Colombo (AsiaNews) – Sri Lankan authorities are considering joining […]

By Hu Weijia Courtesy Global Times Illustration: Chen Xia/Global TimesWith a total of $968 million in loans in four months of 2022, India “has emerged as Sri Lanka’s largest bilateral lender, overtaking China in the process,” India’s ANI news agency reported on Monday, citing Daily Financial Times. Sri Lanka has borrowed not only from China […]

Courtesy Adaderana Building on the USAID Administrator Samantha Powers’s recent visit, US Ambassador to Sri Lanka Julie Chung announced today that the United States, through USAID, will provide an additional estimated $65 million (more than 23 billion Sri Lankan rupees) in assistance to Sri Lanka over a five-year period.  The assistance falls under the Development […]

Courtesy Adaderana The Government of Japan has decided to extend additional Emergency Grant Aid of USD 3.5 million for Sri Lanka in response to the deterioration of the humanitarian situation. This Emergency Grant Aid will allow implementing humanitarian assistance activities delivering food worth USD 2 million through the World Food Programme (WFP), food, nutrition, health, […]

Courtesy Hiru News India does not plan to provide fresh financial support to Sri Lanka on top of the nearly $4 billion it has extended this year, two sources told Reuters, as the island’s battered economy starts to stabilise after a preliminary loan agreement with the IMF. India has been the biggest provider of aid […]

Hiru News

Courtesy Adaderana Ambassador of China to Sri Lanka, Qi Zhenhong has held a discussion with Asian Development Bank’s South Asian Department Director General Kenichi Yokoyama and its Sri Lanka Mission Director Chen Chen today (Sep. 13). According to the Chinese Embassy in Colombo, they have had exchanged views on Sri Lanka’s current economic situation and […]

Manusha Media  Labour and Foreign Employment Minister Manusha Nanayakkara said that the foreign exchange sent by expatriate workers to Sri Lanka has increased by 16.4 percent in August compared to July this year, and the number of workers who have registered with the Sri Lanka Bureau of Foreign Employment (SLBFE) to leave for foreign jobs […]

Courtesy Hiru News USAID Administrator Samantha Power announces an additional USD 40 million to Sri Lanka to help farmers purchase fertilizer and other vital agricultural inputs

Courtesy Adaderana The government of Sri Lanka today (Sep 09) signed an agreement for financial assistance of USD 203 million from the Asian Development Bank (ADB) and the Japan Fund for Prosperous and Resilient Asia and the Pacific (JFPR) to implement the Food Security and Livelihood Recovery Emergency Assistance Project. In a press release, the […]

INVESTING Company News News Wire 14h ago Fitch Warns of High Risk Sri Lanka May Default on Local Bonds Ronojoy Mazumdar and Asantha Sirimanne, Bloomberg News A worker with an empty two-wheeled cart makes his way to a wholesale market to find jobs in Colombo, Sri Lanka, on Tuesday, Aug. 9, 2022. Sri Lanka’s new President […]

Lanka Lead News මහ බැංකු අධිපති ආචාර්ය නන්දලාල් වීරසිංහ මහතා පාර්ලිමේන්තු මන්ත්‍රීවරුන්ට රට ගොඩ නැගීමට කළ යුතු දේ සම්බන්ධයෙන් ටියුෂන් පන්තියක් පැවැත්වූ බැවින් දැන් රටේ අර්බූදය විසඳෙනු ඇතිද යන්න පිළිබඳව ලංකා ලීඩ් වෙබ් අඩවිය ජාතික සංවිධාන වල මතය විමසන ලදී. එහිදී ජාතික සංවිධාන එකමුතුවේ මාධ්‍යය ප්‍රකාශක වෛද්‍යය වසන්ත බණ්ඩාර මහතා අදහස් දක්වමින්, ” මීට පෙර […]

Courtesy Adaderana China says it stands ready to work with relevant countries and international financial institutions to continue to play a positive role in supporting Sri Lanka’s response to current difficulties and efforts to ease debt burden and realize sustainable development. The spokesperson for the Chinese Foreign Ministry, Zhao Lijian stated this in response to […]

Courtesy Hiru News Paris Club is ready to start debt relief process for Sri Lanka and coordinate with non-Paris Club official bilateral creditors to provide financing assurances.

Courtesy Hiru News A loaf of bread (450g) will be sold at Rs. 300 citing the increase in Wheat Flour prices according to the All Ceylon Bakery Owners Association

Courtesy Hiru News Foreign Ministry Spokesperson Zhao Lijian at the regular pess conference on September 2, 2022 responsed to a query of Reuters. Reuters: During a news conference on Friday, Japanese Finance Minister Shunichi Suzuki urged all countries that lent money to Sri Lanka, including China, to discuss the country’s debt restructuring. These were remarks […]

Courtesy Hiru News Developing Countries Trading Scheme will offer Sri Lanka the opportunity to benefit from duty- free schees for a range of goods exported to UK according to the Prime Minister of the United Kingdom. British Prime Minister Boris Johnson has stated this while sending a congratulatory message to the President. The UK Government […]

Courtesy Hiru News 02 September 2022: Fitch Ratings-Hong Kong releasing a statement titled “Onus on Debt Negotiations after Sri Lanka’s IMF Staff Agreement” comments on the IMF agreement and the current context in Sri Lanka. The Text of the Statement is as follows; The IMF staff-level agreement with Sri Lanka on a USD2.9 billion programme, […]

Courtesy Hiru News Chinese embassy states that they have been always encouraging the IMF and other international financial institutions to continue to play a positive role in Sri Lanka. As a traditional friendly neighbor of Sri Lanka and a major shareholder of the International Monetary Fund, China has been always encouraging the IMF and other international […]

Courtesy Adaderana Prime Minister Dinesh Gunawardena said that the government was able to reach a staff level agreement this morning to obtain an extended fund facility of USD 2.9 billion dollars from the International Monetary Fund (IMF) that will operate for a period of four years. Speaking in Parliament today (01), the Prime Minister also […]

Courtesy Adaderana The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe says that huge tax cuts in 2019 and extensive money printing to settle debts triggered the worst economic crisis in the history of the country. He also stated that the government of Sri Lanka and the Central Bank had already […]

Courtesy MailOnLine Crisis-hit Sri Lanka’s inflation hit an eleventh consecutive monthly record in August, official data showed on Wednesday, rising to 64.3 percent as the International Monetary Fund extended bailout talks by one more day. The benchmark year-on-year Colombo Consumer Price Index (CCPI) in August was more than eight times higher than the 7.6 percent […]

Courtesy Adaderana The Asian Development Bank (ADB) approved a $200 million emergency assistance loan for Sri Lanka, with funds repurposed from other ongoing ADB projects, to improve food security and protect the livelihoods of the poor and vulnerable, especially women and children. Food insecurity has severely affected the people of Sri Lanka amid the current […]