The Constitutional Council has approved the appointment of Dr. Ranee Jayamaha and Samantha Kumarasinghe to the Monetary Board of the Central Bank of Sri Lanka (CBSL). A Constitutional Council meeting was held today (24) at the Speaker’s Residence under the patronage of its Chairman and former Speaker of the Eighth Parliament Karu Jayasuriya. Prime Minister…
Having identified the urgent need of reviving the businesses adversely affected by the COVID-19 outbreak and thereby to promote economic activity in the country, the Central Bank and the Government of Sri Lanka launched a novel refinance facility under the Saubagya (Prosperity) Loan Scheme, named Saubagya Covid-19 Renaissance Facility, as announced on 24 March 2020….
Sri Lanka has been under lockdown for over 50 days now. With the number of cases close to 870, we do not know when normalcy will return. If we’re daily wage earners or if our job security is threatened, we are at the deep end of the chaos. The same applies to farmers who’ve had…
A Constitutional Council Meeting will be held at 6 pm today (24) at the Speaker’s Residence under the patronage of its Chairman and former Speaker of the Eighth Parliament Karu Jayasuriya. The nominations sent by the President, Gotabhaya Rajapaksa for the two-member vacancies of the Monetary Board of the Central Bank of Sri Lanka will…
IFC, a member of the World Bank Group, is making a $175 million investment in John Keells Holding (JKH) to expand its supermarket chain in Sri Lanka and help fund expansion or refurbishment of hotel properties in Sri Lanka and the Maldives. The $175 million long term investment is IFC’s largest in Sri Lanka in…
Sri Lanka’s gross domestic product (GDP) growth is forecast to contract 6.1% this year and grow 4.1% in 2021, the ADB said in a supplement to its Asian Development Outlook (ADO). Countries in ‘Developing Asia’ will ‘barely grow’ in 2020, the ADB forecast. According to the ADB report, Afghanistan, Maldives, and Sri Lanka will bear…
Sri Lanka’s stressed external liquidity position is set to remain a weakness for the country’s credit profile, says Fitch Ratings. Policymakers may be able to offer more clarity about their economic agenda once elections are held on 5 August, but hurdles to accessing additional external financing support will persist. “We highlighted Sri Lanka’s external financing…
The World Bank Board of Executive Directors recently approved additional financing for Sri Lanka’s COVID-19 Emergency Response and Health Systems Preparedness Project. The project will receive an IDA Credit of $ 87.24 million and an additional Pandemic Emergency Financing (PEF) Facility of $ 1.72 million. The credit facility has a maturity of 30 years and a grace period…
Sri Lanka’s diversified conglomerate John Keells Holdings PLC has entered into a long-term financing agreement with the International Finance Corporation (IFC)for US Dollars 175 million to support funding of the Company’s investment pipeline. The agreement formalising the facility was signed between the IFC and JKH today ( 23 June 2020). This facility is IFC’s largest investment…
A Constitutional Council Meeting will be held tomorrow (24) at 6 pm at the Speaker’s Residence under the patronage of its Chairman and former Speaker of the Eighth Parliament Hon. Karu Jayasuriya. Secretary-General of Parliament Mr. Dhammika Dasanayake stated that the Prime Minister Hon. Mahinda Rajapaksa and other members of the Constitutional Council are scheduled…
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