World Bank releases $250 million to bolster economic reforms in Sri Lanka The World Bank has released a second tranche of $250 million to support economic reforms in Sri Lanka, it said in a... Published 20 Dec, 2023 01:29pm
World Sri Lankan leader seeks to disarm India’s China fears COLOMBO: Sri Lanka’s president arrives in India on Thursday for his first visit to the regional powerhouse, with... Published 18 Jul, 2023 11:41am
Business & Finance IMF board poised to approve $2.9bn Sri Lanka bailout on 20th WASHINGTON: The International Monetary Fund on Tuesday said Sri Lanka has secured financing assurances from all ... Published 08 Mar, 2023 06:20am
World Sri Lanka president says China agrees to restructure loans COLOMBO: Sri Lanka’s president said Tuesday that China had agreed to restructure its loans to the bankrupt island... Updated 07 Mar, 2023 12:51pm
Business & Finance Sri Lanka to relax currency band as it moves towards market-driven exchange rate COLOMBO: Sri Lanka will relax its currency band from next week, its central bank said on Friday, as part of efforts... Published 06 Mar, 2023 08:09am
World Sri Lanka’s rate hike shows commitment to rapid disinflation: IMF COLOMBO: Sri Lanka’s decision to raise interest rates shows the crisis-hit country’s commitment to reducing... Updated 04 Mar, 2023 03:30pm
World Sri Lanka unexpectedly raises rates to fulfil IMF bailout requirements COLOMBO: Sri Lanka’s central bank raised interest rates in an unexpected move on Friday in a bid to help the country... Published 03 Mar, 2023 06:44pm
World Sri Lanka workers defy strike ban to protest rescue plan COLOMBO: Sri Lankan workers went on strike Wednesday in defiance of a government ban to protest a rescue plan for... Published 01 Mar, 2023 12:47pm
Markets World Bank’s IFC to provide Sri Lanka with $400mn financing COLOMBO: The International Finance Corporation (IFC), the World Bank’s investment arm, said it will provide Sri... Published 27 Feb, 2023 12:25pm
Business & Finance Paris Club creditors give assurances to support IMF bailout for Sri Lanka LONDON: The Paris Club of creditors has given financing assurances to support the International Monetary Fund’s... Published 13 Feb, 2023 05:57am
World Sri Lanka flags return to growth, protesters demand tax cuts COLOMBO: Sri Lanka’s economy is expected to grow again from the end of this year and the government hopes the... Published 08 Feb, 2023 05:00pm
World China has not done enough on Sri Lanka debt restructuring: US diplomat COLOMBO: The United States wants China to provide credible and specific assurances to the International Monetary... Published 01 Feb, 2023 05:34pm
World Sri Lanka economy could shrink by -3.5% to -4%, president says COLOMBO: Sri Lanka’s economy could contract by -3.5 or -4.0% in 2023 after shrinking -11% last year, President Ranil... Published 28 Jan, 2023 06:35pm
World India to back Sri Lanka’s debt restructuring plan COLOMBO: India will support Sri Lanka’s debt restructuring plan, Bloomberg News reported on Tuesday, as the island... Published 17 Jan, 2023 01:02pm
World Sri Lanka to cut recurrent budget expenditure by 6% in 2023 COLOMBO: Sri Lanka’s cabinet said on Tuesday that it will cut its recurrent budget expenditure by 6% in 2023 as the... Published 17 Jan, 2023 11:28am
World Sri Lanka to slash military by a third to cut costs COLOMBO: Sri Lanka will slash its army by a third to 135,000 personnel by next year and to 100,000 by 2030, the... Updated 13 Jan, 2023 02:41pm
World Sri Lanka finalises oil exploration rules, earmarks 900 offshore blocks COLOMBO: Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore... Published 12 Jan, 2023 06:38pm
World Sri Lanka says treasury running dry, cuts spending COLOMBO: Bankrupt Sri Lanka announced on Tuesday sharp government spending cuts and warned it had barely enough... Published 11 Jan, 2023 05:53am
World Bankrupt Sri Lanka says treasury running dry, cuts spending COLOMBO: Bankrupt Sri Lanka announced on Tuesday sharp government spending cuts and warned it had barely enough... Published 10 Jan, 2023 04:26pm
Markets Sri Lankan shares jump as IMF provisionally agrees on $2.9bn loan Sri Lankan shares kicked off September on a positive note on Thursday, extending gains to a third day, after the... Published 01 Sep, 2022 04:41pm
World Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan COLOMBO: Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency... Updated 31 Aug, 2022 12:19pm
World Sri Lanka says IMF bailout talks in ‘final stage’ COLOMBO: Cash-strapped Sri Lanka’s president announced further tax hikes and sweeping reforms on Tuesday, saying... Published 31 Aug, 2022 05:50am
World Sri Lanka says IMF bailout talks in ‘final stage’ COLOMBO: Cash-strapped Sri Lanka’s president announced further tax hikes and sweeping reforms on Tuesday, saying... Published 30 Aug, 2022 06:15pm
World Children ‘going to bed hungry’ in bankrupt Sri Lanka: UN COLOMBO: Children in Sri Lanka are “going to bed hungry” because of the island nation’s economic crisis, the UN said... Published 26 Aug, 2022 07:41pm
World Sri Lanka court bars former prime minister from leaving the country: anti-corruption group COLOMBO: Sri Lanka’s top court on Friday barred former Prime Minister Mahinda Rajapaksa and former Finance Minister... Published 15 Jul, 2022 05:12pm
World Sri Lankan President Rajapaksa’s resignation letter to be flown in from Singapore COLOMBO: Sri Lankan President Gotabaya Rajapaksa’s original resignation letter will be flown into Colombo from... Published 14 Jul, 2022 08:52pm
World Outgoing Sri Lankan president lands in Singapore after fleeing uprising COLOMBO/SINGAPORE: Outgoing Sri Lankan president Gotabaya Rajapaksa landed in Singapore on Thursday after fleeing... Published 14 Jul, 2022 06:41pm
Print Fleeing Sri Lanka president faces protests in Maldives MALÉ, (Maldives): Escaping Sri Lankan President Gotabaya Rajapaksa faced protests in the Maldives Wednesday with... Published 14 Jul, 2022 05:00am
World Sri Lanka cabinet to make way for unity govt amid political and economic meltdown COLOMBO: Sri Lanka’s president and the cabinet will make way for a unity government, the prime minister’s office... Published 11 Jul, 2022 05:40pm
World Crisis-hit Sri Lanka expands cabinet, but no finance minister COLOMBO: Cash-strapped Sri Lanka appointed nine more ministers Friday to an “all-party government” tasked with... Published 20 May, 2022 05:41pm