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IMF Commends Sri Lanka’s Economic Progress and Policy Implementation

Julie Kozack, Director of the International Monetary Fund’s (IMF) Communications Department, has praised the Sri Lankan Government for its commendable achievements in economic policy and program implementation. Kozack noted the robust overall implementation of the IMF program by Sri Lanka. The IMF staff and Sri Lankan authorities have reached a staff-level agreement on economic policies,…
1 day ago0Comments

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Business Economy Sri lanka News

Advocata Chairman Questions Cabinet Decision on Awarding Renewable Energy Procurement to Adani

During a recent discussion hosted at the Central Bank of Sri Lanka, Murtaza Jafferjee, Chairman of the Advocata Institute, raised concerns regarding a recent Cabinet decision. The decision in question pertained to the approval granted to the Ceylon Electricity Board (CEB) to procure renewable energy from Adani at a rate of 8 cents USD per…
May 11, 20240Comments

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Business Economy Sri lanka News

Standard Chartered CEO Predicts Rupee Depreciation

In a significant economic forecast, Bingumal Thewarathanthri, the CEO of Standard Chartered Sri Lanka, discussed the trajectory of the Sri Lankan rupee, in the presence of the Central Bank Governor Nandalal Weerasinghe. During the gathering, Thewarathanthri made a noteworthy prediction, stating that the rupee is anticipated to depreciate by approximately 5 to 7% following its…
May 11, 20240Comments

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Economy Sri lanka News

Champika Warns of Sri Lanka’s Fragile Financial Position

Opposition Parliamentarian Patali Champika Ranawaka shed light on Sri Lanka's financial landscape, urging a closer examination of the country's foreign reserves and debt situation. Despite reports from the Central Bank indicating a healthy $5 billion in foreign reserves, Ranawaka underscored the pressing need to delve deeper into the numbers. According to Ranawaka, the period since…
April 9, 20240Comments

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