The International Development Association provides USD 187 million financing for DPF, ESCAMP and CRIP

The International Development Association provides USD 187 million financing for DPF, ESCAMP and CRIP

Three loan agreements were signed between the Government of Sri Lanka and the International Development Association (IDA) of the World Bank for three projects amounting to USD 187 million., Dr. R. H. S. Samaratunga, Secretary to the Treasury and Ms. Idah Z. Pswarayi-Riddihough, the World Bank’s Country Director,…

Prime Minister arrives in Jakarta to participate in the WIEF

Prime Minister arrives in Jakarta to participate in the WIEF

Prime Minister Ranil Wickremesinghe landed in Indonesia on a two-day official visit. He is to attend the 12th annual World Islamic Economic Forum, where he is to make a special address. He was welcomed by Indonesian Trade Affairs Minister Enggartiasto Lukita at the Soekarno-Hatta International Airport, Jakarta.  …

Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K

Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K

Sri Lanka’s Finance Minister Ravi Karunanayake told Parliament Thursday that the country has seen an upward movement in foreign reserves after Brexit. Finance Minister pointed out that the country now has reserves sufficient for 4 months of imports. “We can see that there is an advantage in Brexit…

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…

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…

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…

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…

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