By Faris Hadad-Zervos World Bank Country Director for Maldives, Nepal and Sri Lanka Sri Lanka was on its way to eliminating extreme poverty until the COVID-19 pandemic and the recent economic crisis threw the country into disarray. Between 2006 and 2016, extreme poverty—measured by the number of people living on less than $ 2.15 a…
The Sri Lanka Economic Summit 2022 organised by the Ceylon Chamber of Commerce will explore several areas of economic reform as Sri Lanka seeks to embark on a path of economic revival, with Session 2 of the Summit dedicated to ‘Implementing the Roadmap to SOE Reform – Opportunities for the Private Sector’, on December 6th….
To support the urgent medical needs of Sri Lankans throughout the country, Ambassador Julie Chung participated Monday (17) in the donation of medical equipment from the U.S. Department of Defense to the Ministry of Health at the Base Hospital in Panadura after meeting with Hon. Dr. Keheliya Rambukwella, the Minister of Health. The equipment, which…
In September 2022, Purchasing Managers Indices indicate marginal expansion for Services activities and contraction for Manufacturing activities. Manufacturing PMI declined in September 2022, indicating a setback in manufacturing activities on a month-on-month basis. Services PMI recorded an index value of 51.2 in September 2022 indicating a marginal expansion in the services sector. The decline in…
Japan is working to organize a meeting of Sri Lanka’s creditors by the end of this year in hopes of solving that country’s debt crisis, The Yomiuri Shimbun has learned. The meeting, which will discuss such issues as finding ways to reduce debt payments, aims to curb China’s influence by helping Sri Lanka cope with…
The Ceylon Chamber of Commerce acknowledges the rationale for the recently proposed tax changes and calls on the Government to show greater restraint, accountability and transparency on government spending. While the tax hike will invariably impact businesses and private sector employees adversely in the current context of high inflation and negative economic growth, it is…
The Tea Export sector that annually brings revenue of about USD 1.3 billion is concerned about the proposed corporate income tax of 30% by the government on the export sector as it could seriously hinder the industry efforts for revival. The sector is currently going through a challenging period due to a number of internal and external issues and this increase of…
Discussions held at the National Council sub-committee on identifying short and medium-term programs related to Economic Stabilization The National Council sub-committee on identifying short and medium-term programs related to Economic Stabilization took to discussion that a large number of medications imported into Sri Lanka are not essential for the use of the people of Sri…
The deepening economic crisis is forcing people to make heartbreaking choices between going hungry, buying life-saving medicine, or finding the money to send children to school. A needs assessment by the International Red Cross and Red Crescent Societies reports of more than 2,900 households in 11 of the country’s 25 districts has found that 96%…
By Prof. Samitha Hettige The Sri Lanka Army celebrated its 73rd anniversary on 10th October. Throughout the years the SLA as an organization has acted for the good of the country. Fidel Castro of Cuba blamed the one who fires the first shot for the destruction caused in a conflict. SL security analysts since 1948…
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