Pledges Continued Support for Sri Lanka’s Economic Development The Country Director of the Asian Development Bank (ADB) Resident Mission in Sri Lanka, Takafumi Kadono, along with a delegation, met with President Anura Kumara Dissanayake today (07) at the Presidential Secretariat. The discussions focused on ADB’s ongoing commitment to support Sri Lanka’s economic and social development….
The World Bank and the Government of Sri Lanka today (07) signed the Second Resilience, Stability, and Economic Turnaround (RESET) Development Policy Operation (DPO) for $200 million. This is the second operation in a two-part series that began in 2022. The first operation, totaling $500 million, was disbursed in June and December 2023. The Second RESET DPO aims to…
The Ceylon Chamber of Commerce commends the Government of Sri Lanka on the successful completion of consultations with the Official Creditor Committee (OCC) and the International Monetary Fund (IMF) regarding the Agreement in Principle (AIP) reached with international and local holders of International Sovereign Bonds (ISBs). This marks significant progress towards achieving external debt restructuring…
President Anura Kumara Dissanayake engaged in a discussion with the International Monetary Fund (IMF) at the Presidential Secretariat today (04), marking the second day of talks with the President. Director of the IMF’s Asia Pacific Department Krishna Srinivasan, Senior Mission Chief Dr. Peter Breuer, along with other senior IMF representatives and the Sri Lankan delegation…
LTL Holdings Limited has announced that its Initial Public Offering (IPO) will be postponed following instructions from the Securities and Exchange Commission of Sri Lanka (SEC). The decision comes after a directive from the Colombo Stock Exchange (CSE) to publish an addendum to the IPO prospectus dated August 29, 2024. The SEC, by a letter…
The ‘Q+’ Payment App powered by the Commercial Bank of Ceylon can now be used by customers of other banks as well, following its integration with the ‘JustPay’ platform of LankaPay – the operator of Sri Lanka’s national payment network. Announcing the integration, Commercial Bank said customers from any domestic bank that supports the JustPay…
The International Monetary Fund (IMF) confirmed ongoing discussions with Sri Lanka’s newly elected government as part of the nation’s ongoing economic recovery efforts. During a press briefing held on October 3, 2024, IMF Spokesperson Julie Kozack outlined the organization’s latest interactions with Sri Lanka, emphasizing the need for continued reforms to maintain economic progress. Following…
In a significant meeting yesterday, President Anura Kumara Dissanayake engaged directly with IMF delegation included Director of the Asia Pacific Department, Krishna Srinivasan and Senior Mission Chief Dr. Peter Breuer to discuss the progress of Sri Lanka’s on-going IMF programme. The President was accompanied by key Sri Lankan officials, including Central Bank Governor Dr.Nandalal Weerasinghe,…
(Reuters) – Sri Lanka plans to move ahead with the third review of its nearly $3 billion programme of support from the International Monetary Fund, the new government said on Thursday, as the island nation seeks to emerge from its worst financial crisis in decades. New president Anura Kumara Dissanayake, who was elected last week,…
The Central Bank of Sri Lanka (CBSL) wishes to announce the issuance of the Banking Act Directions No. 05 of 2024 on Corporate Governance for Licensed Banks on 30.09.2024. These Directions were issued with a view to strengthening the corporate governance processes and practices of the licensed commercial banks and licensed specialised banks (hereinafter referred…
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