The government will bring in an anti-corruption bill to Parliament shortly, as agreed with the International Monetary Fund (IMF) when entering a staff-level agreement last September, Cabinet Spokesperson Minister Bandula Gunawardana said.

President Ranil Wickremesinghe yesterday said Sri Lanka signed a Letter of Intent (LoI) on Monday night to be presented to the Executive Board.....

The Central Bank last Friday projected a faster decline in the rate of inflation in the coming months, as businesses and households will benefit from the relative strength in the rupee in recent times, which gets translated into lower imported goods

Taking everyone by surprise, the Monetary Board of the Central Bank yesterday raised the policy interest rates by 100 basis points, though many predicted the monetary authority to either maintain the status quo or signal a dovish tilt by cutting rate

The analysts at First Capital Research (FCR) assigned equal weightage between a rate cut and an unchanged policy stance at the upcoming monetary policy announcement tomorrow afternoon but they doubled down on their bets on a dovish tilt by the member

Sri Lankan rupee appreciated yesterday on improved sentiments over the current and future foreign exchange conditions in the domestic market after the announcement that International Finance Corporation (IFC) is willing to provide US$ 400 million wor

To support Sri Lanka amid an ongoing economic crisis, the International Finance Corporation (IFC), the investment arm of the World Bank, is providing a cross-currency swap facility to three of Sri Lanka’s leading national banks that deal with over

The International Monetary Fund (IMF) has stressed the need for a more predictable, timely, and orderly process for both countries....

The government has settled the majority of the arrears to the tune of Rs.191 billion to contractors and suppliers, after assuming power on August 31, last year, despite an 8 percent contraction in the economy during the year, Finance State Minister R

President Ranil Wickremesinghe yesterday told parliament that his top priority is building a strong economy and not politics, though the Opposition political parties directly accused him of trying to postpone an election that has already been announc

As Sri Lanka is looking to bring about a renewed brand identity that will help it capture a bigger share of the global tourism market, plans are afoot to do away with the ‘So Sri Lanka’ tagline.

After months of struggle and challenges, Sri Lanka has been successful in fulfilling the 15 tasks set by the International Monetary Fund....

The tea sector yesterday joined the chorus in warning about the potential consequences of failing to control the situation after a 66 percent increase in electricity prices that went into effect last week.

After over two years of product development, Dipped Product PLC plans to launch its dedicated LEED certified manufacturing facility for sports gloves in Biyagama Export Processing Zone this April....

President Ranil Wickremesinghe yesterday gave fresh hopes to the nation, as he shared that the answers to the woes faced by the people would be unlocked before the end of the first quarter of the year.

The move by Sri Lanka’s electricity regulator to approve another tariff hike sent shockwaves across the island nation yesterday, not sparing even the country’s largest gross export earner, the apparel sector.

Contradicting with the earlier plans to handover the East Container Terminal (ECT) to Japan, Ports, Shipping and Aviation Minister Nimal Siripala de Silva hinted that the government plans to retain the control of the ECT of the Port of Colombo while

The Cabinet greenlight has been granted for the draft Monetary Law Act to be published in the government gazette and thereafter to be tabled it in parliament, which is a key prior action required by the International....

The disposal of the state-owned enterprises (SOEs) presents the best option for Sri Lanka to avert a possible domestic debt restructuring (DDR) scenario, while it could become a catalyst to develop a vibrant capital market to exploit the current mark

Earnings from tourism trade continued its months-long ascent in tandem with the encouraging arrival numbers, which topped over 100,000 in January, a feat which became possible after almost a year.

With the dawn of the new year, Sri Lanka made significant progress in obtaining financing assurances from its creditors to help unlock the International Monetary Fund (IMF) bailout package; however, according to the multilateral funding agency, what

Sri Lanka appears to be still having roughly US$ 3.2 billion worth foreign currency obligations to be settled this year even after announcing a debt standstill on selective debt last year until creditors agree to restructure them.

President Ranil Wickremesinghe made his second throne speech in Parliament yesterday to reinforce his blueprint to put the economic back on track and made clear that his government has no role in private businesses except for creating a conducive env

After India, Paris Club creditors have provided financing assurances, placing Sri Lanka a step closer to secure approval from the Executive....

The nations that are in debt with the People’s Republic of China will have the opportunity to negotiate firsthand the debt restructuring agenda, as the world’s second largest economy has confirmed its attendance at the first-ever creditor-debtor

The Central Bank has kicked off an asset quality review of the country’s banking sector to identify possible stresses in different pockets of banks’ balance sheets as they provided enormously on possible bad loans and other financial asset losses

As Sri Lanka celebrates its 75th year of independence from British rule today, while grappling with the worst economic crisis faced in history, President Ranil Wickremesinghe expresses confidence in the country rising up from the current turmoil and

The Paris Club of creditor nations is ready to provide financing assurances to Sri Lanka, a key step needed to unlock a US$2.9 billion bailout by the International Monetary Fund (IMF), Reuters reported yesterday quoting two unnamed sources.

The tourist arrivals to Sri Lanka crossed the 100,000 mark in January for the first time since March 2022.

Sri Lanka’s trade deficit hit a 12-year low in 2022 as a result of resilient export performance, particularly industrial exports, and the sharp decline....