Given the anticipated shortfall in state revenue from the targeted levels, a former Central Banker casted doubts on the narrow scope in the proposed Domestic Debt Optimisation (DDO) strategy providing sufficient leeway for the government to get the f

The sluggish performance of Sri Lanka’s merchandise exports continued for the fifth straight month in May, as Sri Lanka’s main industrial export, apparel and textile products, dipped amid the slowdown in demand from the key markets.

Sri Lankan banks which took little interest towards deposits when interest rates were going up appear to have suddenly woken up to aggressively cut rates on such deposits when the rates are on their way down, leaving the hapless savers devastated fro

The Colombo Stock Exchange (CSE) investors took the impending Domestic Debt Optimisation (DDO) announcement positively, as both indices closed in green, with investors particularly showing interest in banking stocks, a sector many feared would be imp

Central Bank Governor Dr. Nandalal Weerasinghe strongly affirmed yesterday that the forthcoming domestic debt optimisation (DDO), set to be announced this week, will have absolutely no adverse effect....

Sri Lanka’s apparel sector, the largest foreign exchange earner and a key contributor to the debt-ridden economy, yesterday said it is “dismayed” by the zero revisions made to industrial electricity tariff rates by the Ceylon Electricity Board

The declining trend in apparel exports from Sri Lanka amid demand slowdown in key markets extended to the month of May, as earnings from such exports fell 14.17 percent year-on-year (YoY) to US$ 383.17 million.

Given that half of the population living in poverty in Sri Lanka is not covered by social protection schemes, the World Bank stressed it is essential to have increased transparency, inclusion, adaptability and accountability mechanisms to ensure the

Ceylon Tea exports have moved towards a positive growth trajectory in May, breaking the downward trend witnessed in the first four months of the year. Provisional data released....

Local and international media highlighting the plight of the estate sector workers, particularly in light of the economic crisis, have adversely impacted the reputation of Sri Lanka’s tea industry, as an incorrect portrayal....

Sri Lanka Banks Association (SLBA) representing all commercial banks in the country yesterday stressed the urgent need for the development of an effective insolvency regime in response to the sharp rise in loan defaults in the country.

HSBC Global Research has forecast further 500 basis points rate cut in Sri Lanka over the next four quarters after the country’s Central Bank.....

Sri Lanka needs to make efforts to use the ongoing global economic slowdown as an opportunity to rethink its growth strategy, as its economy is highly vulnerable and remains at a disadvantage compared to many of its competitors and peers, asserted an

Sri Lanka’s Gross Domestic Product (GDP) is estimated to have contracted 11.5 percent in the first quarter of 2023 from a year ago amid high interest rates, increased input prices, import restrictions and lower earnings from apparel exports, the De

The state-owned enterprises (SOEs) should be unchained from government control, regardless of whether they are profit or loss-making, if the benefits arising from their performance are to flow into the national economy, said Suresh Shah, the head of

Sri Lanka Customs officials this week told a parliamentary committee that it may not be able to achieve the revenue target set in the budget due to import restrictions slapped on certain categories of goods...

Despite various negative projections by multilateral agencies and even by the country’s Central Bank, Sri Lanka would record positive economic growth in the final quarter of this year, Finance State Minister Ranjith Siyambalapiriya said.

The final decision on the privatisation of Sri Lanka Telecom PLC (SLT) will be taken during an upcoming meeting of Cabinet of Ministers, the President’s Media.....

The Sectoral Oversight Committee on National Security has opposed the government’s proposal to privatise Sri Lanka Telecom PLC (SLT), as such a move could be detrimental to national security.

Sri Lanka’s tea exporters yesterday expressed “deep concerns” over the government’s decision to abolish the Simplified Value-Added Tax (SVAT) system as they fear the move will create cash flow difficulties for them among several other issues.

As Sri Lanka is looking to support the poor and vulnerable population, which has significantly expanded since the pandemic and economic crisis, Colombo-based policy think tank LIRNEasia urged the government to reopen the registration of the new welfa

The government is planning to boost tax revenue by 1.2 percent of gross domestic product (GDP) by removing most of the Value-Added Tax (VAT) exemptions and abolishing the Simplified Value Added Tax (SVAT) methodology.

Sri Lanka’s apparel sector would face a major setback if it fails to renew the GSP Plus tariff concession from the European Union (EU), the Joint Apparel Association Forum (JAAF) cautioned, as the collective loss for the industry would amount to ab

The months-long contraction in credit to the private sector somewhat moderated in April in a sign of bottoming out ahead of further easing in the interest rates in the months to come with the beginning of a monetary easing cycle set off last week.

Sri Lanka’s economy is showing tentative signs of improvement, due to the implementation of critical policy actions, acknowledged visiting senior International Monetary Fund (IMF) official but noted recovery remains challenging.

The Central Bank yesterday delivered a surprise policy rate cut, bringing nearly two years long tightening cycle to a close and left open the door for further rate cuts in the next few months among other measures to ease remaining restrictions on imp

In a bid to support the country’s small and medium-sized enterprises’ (SMEs) access to commercial loans, the government is moving towards operationalising the Asian Development Bank (ADB)-backed National Credit Guarantee Institution (NCGI) initia

The government is likely to raise the domestic debt ceiling for this year in the coming months in order to raise the required funds via selling government securities to rehabilitate and maintain the country’s critical road infrastructure that is in

The Asian Development Bank (ADB) yesterday approved a US $ 350 million special policy-based loan to provide budget support to Sri Lanka for economic stabilisation. “The programme is part....

Sri Lanka’s Board of Investment (BOI) has increased the foreign direct investment (FDI) target to US$ 2 billion from earlier US$ 1.3 billion for the year as foreign investors are returning to the country following a troubled year and given the poss