The IMF team had constructive and productive discussions with the Sri Lankan authorities on economic performance and policies underpinning the first review under the IMF Extended Fund Facility (EFF) arrangement. The people of Sri Lanka have shown remarkable resilience and the authorities have made significant progress on important reforms. Discussions will continue towards reaching a…
(Reuters) – Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on Wednesday citing people familiar with the matter. The members want the group of major creditors, including the U.S., Japan and India, to sign…
The Information and Communication Technology Agency (ICTA) of Sri Lanka would like to announce the upcoming launch of the Electronic Revenue License System (eRL 2.0) on October 03, 2023. This transformative system, developed in collaboration with the Provincial Department of Motor Traffic, promises to revolutionize the vehicle revenue license issuance system, improving the efficiency of…
NDB is proud to announce its appointment as a member of the LankaPay USD Online Payment System. The Sri Lanka Interbank US Dollar On-line Payment System is yet another payment product introduced by LankaPay with the aim of assisting the Central Bank of Sri Lanka (CBSL) and the economy by curtailing the foreign exchange outflow…
Bloomberg – An International Monetary Fund mission visit to Sri Lanka is unlikely to lead to an immediate staff-level agreement to keep a $3 billion bailout on track and unlock more funds from the program, according to a person familiar with the matter. Sri Lanka will now have to hold more discussions with the multilateral…
The Colombo Port City Economic Commission (the Commission) recently published its Comprehensive Progress Report for the fiscal year 2023, spanning from January to August. This period has seen remarkable developments within the Commission, Colombo Port City, and in regard to the finalization of legal frameworks for the Colombo Port City Special Economic Zone (SEZ), reinforcing…
“Companero” means a mixture of companion & comrade in Spanish. The Chinese civilization is more than 7400 years & the Peoples Republic of China (PRC) established on October 1st 1949 shall celebrate 74th on October 1st 2023. On every occasion China honoured the other’s sect. With that China increased its own sect & the benefits…
Mr. Mahindananda Aluthgamage, Chair of the Sectoral Oversight Committee on National Economic and Physical Plans, emphasized the need to establish a dedicated unit for overseeing institutions responsible for generating tax revenue, including the Inland Revenue Department. The former minister also stressed the importance of the government taking decisive measures concerning officials who are not actively…
The Economic Commission aimed at resolving disputes will replace the BOI – President Ranil Wickremesinghe. President Ranil Wickremesinghe, in his address at the 2023 Commercial Mediation Symposium at Colombo’s Hilton Hotel, emphasized the need for a cultural shift towards efficient dispute resolution in Sri Lanka. He acknowledged the long-standing reliance on trial courts and stressed…
The ‘INFOTEL Information Technology Exhibition,’ orchestrated by the Federation of Information Technology Industry Sri Lanka (FITIS), is scheduled to take place at the Bandaranaike International Conference Hall in Colombo from November 3rd to 5th. This event aligns with President Ranil Wickremesinghe’s initiative to modernize Sri Lanka through digitization. The exhibition, themed ‘Fuelling the Digital Economy,’…
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