By Prof Samitha Hettige Great China had so many natural resources. Thus the colonial powers didn’t want to let go China. If an opportunity is given again, USA would be the first to go & set camp. President of Ghana indirectly said that recently to the face of Vice President Harris during her visit to…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decreased to 50.3% in March 2023 from 50.6% in February 2023. The decline in the headline inflation is broadly in line with the disinflation path envisaged by the Central Bank of Sri Lanka (CBSL) in 2023. The Food…
Bloomberg – A battle is shaping up between global bondholders and Sri Lankan authorities as the nation seeks to restructure its debt to gain access to more aid from the International Monetary Fund. Overseas investors such as BlackRock Inc. and Pacific Investment Management Co. are demanding that domestic debt holders share billions of dollars of…
Fitch Ratings-London: There have been 14 separate default events since 2020, across nine different sovereigns, a marked increase compared with 19 defaults across 13 different countries between 2000 and 2019, says Fitch Ratings in a new report. A record five Fitch-rated sovereigns are in default: Belarus, Lebanon, Ghana, Sri Lanka and Zambia Moreover, Fitch rates…
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…
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