Delivery milestone celebrated today at a special event and showcase in Dubai Airline reveals latest interiors, industry-first technologies and innovations onboard Addition of A350 to Emirates fleet primes airline for growth amid robust travel demand Emirates has officially unveiled the very first Airbus A350-900 to join its fleet at an exclusive event showcase in Dubai….
The UNP government of 1977 of Prime Minister JRJ (post colonial 1st generation leader) received a 5/6th majority in parliament. He introduced the Presidential system in 1978 to develop the economy as he believed that Sri Lanka’s geographic position shall boost it further. As President he held; defense, power & energy, higher education & plan…
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 26 November 2024, decided to further ease the monetary policy stance and set the newly introduced Overnight Policy Rate (OPR) at 8.00 per cent. With this change, the effective reduction in the policy interest rate would be around 50…
Focus on Energy, Agriculture modernisation and Climate Change The Asian Development Bank (ADB) has pledged its support for investment opportunities in Sri Lanka, citing increased foreign investor interest fuelled by the government’s systematic financial reforms. During a discussion held at the Presidential Secretariat today (26), led by ADB’s Regional Head of Private Sector Development, Mr….
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement about Sri Lanka to Members of the Financial Community today: “The Sri Lankan authorities have been implementing an ambitious economic reform program supported by the IMF, which aims to restore debt sustainability and external viability, underpin broad macroeconomic reforms, and strengthen…
As announced in the Central Bank’s Annual Policy Statement in January 2024 and the subsequent announcement in September 2024 of the planned implementation of the single policy interest rate mechanism, the Monetary Policy Board of the Central Bank of Sri Lanka decided to implement a single policy interest rate mechanism transitioning from its dual policy interest rate mechanism, with…
The Local Consortium of Sri Lanka (the “LCSL”), comprised of domestic commercial banks and financial institutions, commits its full support for the Exchange Offer and Consent Solicitation launched today by the Government of Sri Lanka (the “Government”) to restructure the US$12.55bn in outstanding International Sovereign Bonds (“ISBs”) including terms tailored for local holders (the “Local…
The Steering Committee of the Ad Hoc Group of Sri Lanka Bondholders (the “Ad Hoc Group” or the “Steering Committee”) is pleased to announce its support for the restructuring terms of all 11 series of Sri Lanka’s c.$12.55 billion in outstanding sovereign bonds, as detailed in the Republic of Sri Lanka’s Exchange Offer and Consent Solicitation Memorandum (the “Invitation”) published…
The Democratic Socialist Republic of Sri Lanka (“Sri Lanka”) is pleased to announce the official launch of the exchange (the “Invitation”) of its outstanding International Sovereign Bonds (the “Bonds”), totaling approximately USD 12.55 billion, as of 25 November 2024. This follows the approval of the terms and conditions of the Invitation by the new Cabinet…
The Ceylon Chamber of Commerce welcomes the announcement of a staff-level agreement for the third review under the International Monetary Fund (IMF) Extended Fund Facility program for Sri Lanka. This agreement underscores the progress the country has made in implementing structural reforms and achieving fiscal sustainability during this critical period of economic recovery. While acknowledging…
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