IMF confirms Sri Lanka has additional Rs1.3 trillion liabilities

IMF confirms Sri Lanka has additional Rs1.3 trillion liabilities

Sri Lanka’s government has been informed by the International Monetary Fund (IMF) that they have identified 1.3 trillion rupees (8.9 billion dollars) of additional liabilities as at the end of 2015. Prime Minister told Parliament that the fiscal affairs department of the IMF, with the help of treasury…

China, Japan among 5 countries on US trade monitoring list

China, Japan among 5 countries on US trade monitoring list

The Treasury Department has placed five countries – China, Japan, Germany, South Korea and Taiwan – on a new monitoring list designed to pressure foreign governments to tackle large trade imbalances with the United States. The action was disclosed in a report the administration sent to Congress on…

Sri Lanka economy adjusting, may receive USD1-1.25 bln from IMF: CB

Sri Lanka economy adjusting, may receive USD1-1.25 bln from IMF: CB

Highlights from press conference: * GDP grew 4.8 pct in 2015, vs 4.9 pct 2014 * Sri Lanka may receive around USD 1-1.25 billion IMF support: Governor * USD500 mln renminbi bonds may be issued in coming months: Governor * Worker remittances fell 0.5 pct to USD6.9 bln…

IMF bailout package for Sri Lanka to be available by month-end

IMF bailout package for Sri Lanka to be available by month-end

The support facility sought by Sri Lanka for an economic bailout from the IMF may become available by…

China and Sri Lanka decide to make Port City into a financial hub as part of 20 year plan

China and Sri Lanka decide to make Port City into a financial hub as part of 20 year plan

China and Sri Lanka have decided to redefine the controversial Colombo Port City project by making it an…

Sri Lanka foreign reserves at USD6.6bn; IMF support by mid 2016

Sri Lanka foreign reserves at USD6.6bn; IMF support by mid 2016

Sri Lanka’s gross official reserves were estimated at 6.6 billion US dollars by today, Special Assignments Minister Sarath…

Sri Lanka to increase VAT to 15 pct, impose capital gains tax-PM

Sri Lanka to increase VAT to 15 pct, impose capital gains tax-PM

Sri Lankan Prime Minister Ranil Wickremesinghe, saying his country must break out of a debt trap, on Tuesday…

Norwegian sovereign fund invests in Sri Lanka equities

Norwegian sovereign fund invests in Sri Lanka equities

Norway’s central bank, which manages the world’s biggest sovereign wealth fund, has started buying shares in Colombo listed…

Finance Minister appointed as the Chairman of G-24

Finance Minister appointed as the Chairman of G-24

Finance Minister Ravi Karunanayake has been appointed as the Chairman of the Intergovernmental Group of 24 countries on…

World Bank, IMF pledge support for Sri Lanka’s economic development

World Bank, IMF pledge support for Sri Lanka’s economic development

The two global lenders, World Bank and International Monitory Fund have pledged their support for Sri Lanka’s economic…

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