The Central Bank of Sri Lanka has introduced a new refinance facility for the businesses adversely affected by the COVID-19 pandemic. The CBSL announced that having identified the national importance of reviving the businesses adversely affected by the COVID-19 outbreak in order to contain the hampering of living conditions of the Sri Lankans and the…
Due to the concerns raised of over the health and safety of 4.5million students and over 200,000 teachers, a group of credible and responsible citizens spearheaded by the members of the Voluntary Initiative for National COVID-19 response effort – Education sector, have come together to request from H. E. President Gotabaya Rajapaksa and the government…
The International Monetary Fund (IMF) said that they have started to review Sri Lanka’s request for Rapid Credit Facility (RCF). “We received a letter from Sri Lanka government about our Rapid Credit Facility, the program, RCF program. So, we are now starting to review it. And we are now discussing with the government whether they…
The Export Development Board (EDB) today (19) reiterated that exports are a national priority and will help Sri Lanka get through the COVID-19 crisis. Full statement as follows; Following our statement last week, the EDB strengthens our clarion call to understand that exports are now our nation’s number one priority. As the COVID-19 crisis intensifies across the…
Moody’s Investors Service (“Moody’s”) has today placed the Government of Sri Lanka’s long-term foreign-currency issuer and senior unsecured B2 ratings under review for downgrade. The decision to place Sri Lanka’s ratings on review for downgrade is prompted by Moody’s assessment that the acute tightening in global financing conditions, fall in export revenue, and sharp slowdown…
According to the Sri Lanka Purchasing Managers’ Index (PMI) released by the Statistics Department of Central Bank, manufacturing activities has significantly contracted due to adverse impacts of the COVID-19 pandemic, with the Purchasing Managers Index (PMI) hitting an all-time low index value of 30.0 in March 2020 with a decline of 23.6 index points from February…
The Ceylon Chamber of Commerce submitted a proposal to the government on how to manage passenger transport safely as government considers exit strategies from the current curfew status. The working paper was formulated by the Sub Committee on Passenger Transport of the National Agenda Committee (NAC) of Logistics and Transport. The proposal examines establishing a…
Reiterates commitment to protect health of workers, resident estate community from COVID-19 Calls for unity among stakeholders in the face of unprecedented challenges Estimates 40% drop in production solely resulting from unprecedented 3 month drought Commends RPCs for systematic resumption of work with only 4 days interruption Expresses gratitude to industry for success of first…
The strategy formulated to revive the economy and to ensure the return of normalcy while reducing measures put in place to counter COVID-19 will be announced during the weekend, the President’s Media Division (PMD) said yesterday (16). Meeting with the Secretaries to Ministries on Wednesday(15) at the Presidential Secretariat, President Gotabaya Rajapaksa discussed rebuilding the…
The Board of Investment said yesterday (16) that approved companies can gradually recommence operations while strictly adhering to Ministry of Health guidelines. In a statement, BOI noted that it will facilitate the process and urged companies to contact ranjithd@boi.lk for the guidelines to obtain the required curfew passes. The resumption of companies by the BOI…
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