Considering the recent public inquiries and the developments observed relating to cryptocurrencies, which are also commonly referred to as “crypto”, the Central Bank of Sri Lanka (CBSL) wishes to reiterate to the public of the significant risks associated with using and investing in cryptocurrency. Cryptocurrency is a type of virtual currency that is generated by…
Business Sentiment – Confidence Barometer Nudges Up “In light of rising debt vulnerabilities in many countries, I strongly endorse efforts to strengthen the debt architecture, and improve the speed and effectiveness of debt resolution,” the IMF’s Managing Director Kristalina Georgieva said, in a statement at the G20 foreign ministers’ meeting in New Delhi in early March….
TikTok is the target of the USA lead anti China lobby in the past few days. USA has informed Chinese owners of the app to sell their shares or risk being banned in USA as it seems to be concerned about the security of the users of the app. However, they seem to be not…
Sri Lanka’s Export Performance in February 2023 Sri Lanka’s merchandise exports decreased by 8.06 % to US$ 1,005.2 Million in February 2023 compared to February 2022 as per the data released by the Sri Lanka Customs. However, it is a 5.62% increase when compared to February 2021. Major Exports in February 2023 Export earnings from…
The Colombo Port City Economic Commission (the Commission), the Single Window Investment Facilitator authorised to assist investors, businesses, and residents in conducting their activities seamlessly and efficiently in Port City Colombo, is pleased to release its semi-annual progress report for FY 2022 from July to December 2022. The Port City Colombo Special Economic Zone (SEZ)…
Reuters – Sri Lanka will get the first $330 million tranche of an International Monetary Fund bailout in the next two days, the global lender said on Tuesday, putting the onus on the cash-strapped country to rein in its debt to sustainable levels. Economic mismanagement coupled with the impact of the COVID-19 pandemic left Sri…
Fed tightening is likely to weigh heavily on net capital flows to emerging markets (EM) this year but we expect flows to recover in 2024 as policy rates are cut and EM growth relative to advanced economies improves, says Fitch Ratings in its report “Emerging Market Capital Flows Hit by Fed Tightening, But Should Recover…
On Sri Lanka’s reform-regress-run to the IMF crisis cycle By Daniel Alphonsus Countries never learn from others’ mistakes, they only learn from their own. Sri Lanka is an exception: we don’t even learn from our folly. Apparently neither does the IMF. Sri Lanka’s 17th IMF programme is set to be approved on March 20th. Is…
Canadian Prime Minister Justin Trudeau seems to be worried about Canadian “sovereignty” & is expected to appoint an independent Rapporteur to probe alleged Chinese interference in the recent elections. However, Conservative leader, Pierre Poilievre, is said to be thinking it is Trudeau’s “cover up” to avoid “accountability”. The Rapporteur is expected to make recommendations to…
Bloomberg – Sri Lanka’s rupee, which became the world’s best performing currency this year amid hopes of an International Monetary Fund bailout, may resume declines and lose a fifth of its value against the dollar by end-2023, according to Fitch Solutions. “We are optimistic that Sri Lanka will be able to secure an IMF board…
Video Story
