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)…
Sri Lanka’s High Commissioner to India Milinda Moragoda met with the Minister of Finance and Corporate Affairs of India Smt. Nirmala Sitharaman in New Delhi on 22 March 2023. This was the latest of a series of meetings High Commissioner Moragoda has had with Minister Sitharaman since November 2021 on Indian economic cooperation and assistance to…
Al Jazeera – Ranil Wickremesinghe says his government will kick off the next round of talks with creditors in the third week of April. Sri Lanka has received the first tranche of its bailout package from the International Monetary Fund (IMF), President Ranil Wickremesinghe told parliament. “This sets the stage for Sri Lanka to have…
A group of Japanese investors along with Japan Deputy Head of Mission Katsuki Kotaro recently called on the Board of Investment (BOI) to discuss new investment opportunities in Sri Lanka. The investors had a productive discussion with Investment Promotion State Minister Dilum Amunugama, BOI Director General Renuka M Weerakone and other officials on key investment…
Hon. Gamini Lokuge was unanimously appointed as the Chair to the Committee on Banking & Financial Services yesterday (21). Whilst State Minister Hon. Anupa Pasqual proposed Hon. Gamini Lokuge, Member of Parliament Hon. Karunadasa Kodithuwakku seconded it. Accordingly, the Committee met yesterday (21) in Parliament, and the Chair requested for the support of all the…
By Prof. Samitha Hettige President Xi Jinping visited the Russian Federation recently for the ninth time marking the beginning of new world order according to analysts. Before being elected President, Xi visited the USA during the Obama administration. Russia was the first country he visited after assuming the high office & he is the most…
(Bloomberg) – Sri Lanka’s bailout by the International Monetary Fund will help the bankrupt nation lower its borrowing costs, thanks in part to a change in how the cash can be used, central bank Governor Nandalal Weerasinghe said. The Washington-based lender for the first time will allow Sri Lanka to use funds from the $3…
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…
In a special statement following the approval of the extended credit facility by the Executive Board of the International Monetary Fund (IMF), President Ranil Wickremesinghe emphasized that Sri Lanka is no longer deemed bankrupt by the world. The President further stated that the loan facility serves as an assurance from the international community that 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…
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